BASIC DCF MATRIX
Complete the matrix using WACC= 8% and Termminal growth rate = 2.15%
BASIC DCF MATRIX HOMEWORK 2020 2021 REVENUE % REVENUE GROWTH COSTS % OF REVENUE DEPRECIATION & AMORTIZATION HISTORICAL AVE ASSUMPTION 2017 2018 2019 ACT REV last 12 months $ 12,902.00 $ 15,482.40 $ 18,578.88 18,578.88 $ 22,294.66 $ 23.48% 20.00% 20.00% 20.00% 20.00% $ 13,314.86 $ 15,977.84 $ 19,173.40 $ 83.89% 86.00% 86.00% 86.00% 86.00% $ 405.64 $ 486.77 $ 584.12 $ 2.62% 2.62% 2.62% 2.62% 2.62% $ 1,761.90 $ 2.114.28 $ 2,537.13 S S $ 458.09 $ 549.71 $ 659.65 $ 30.73% 26.00% 26.00% 26.00% 26.00% $ 1,303.80 $ 1,564.56 $ 1,877.48 $ $ 405.64 $ 486.77 $ 584.12 $ 26,753.59 $ 20.00% 23,008.08 $ 86.00% 700.94 $ 2.62% 3,044.56 $ 791.59 $ 26.00% 32,104.30 20.00% 27,609.70 86.00% 841.13 2.62% 3,653.47 949.90 26.00% % OF REVENUE EBIT TAXES % OF EBT A) EBIT (1-TAX)or NOPAT 1) DEPRECIATION &AMORTIZATION 2,252.97 $ 700.94 $ 2,703.57 841.13 2) CAPEX S 1,195.24 S 7.72% 1,434.29 $ 7.72% 1,721.15 $ 7.72% 2,065.38 S 7.72% 2,478.45 7.72% % OF REVENUE 7.72% 7.72% 3) NON-CASH WORKING CAPITAL $ 207.21 $ 248.65 $ 298.18 $ 358.05 $ 429.66 $ 306.99 $ 368.39 $ 442.27 $ 530.49 $ 636.59 TERMINAL VALUE $ 1,000.00 B) ENTERPRISE CASH FLOW (FCFF) 1) PV OF FCFF Terminal Growth Rate Terminal Value 2) PV of Terminal Value 3) ASSETS NOT REQUIRED TO GENERATE CASH FLOW c) ENTERPRISE VALUE( VALUE OF FIRM) FUNDED DEBT (INTEREST BARING) CASH & MARKTABLE SECURITIES D) VALUE OF EQUITY Number of Shares Outstanding E) PRICE PER SHARE -$ $ 3,000.00 1,000.00 100.000 BASIC DCF MATRIX HOMEWORK 2020 2021 REVENUE % REVENUE GROWTH COSTS % OF REVENUE DEPRECIATION & AMORTIZATION HISTORICAL AVE ASSUMPTION 2017 2018 2019 ACT REV last 12 months $ 12,902.00 $ 15,482.40 $ 18,578.88 18,578.88 $ 22,294.66 $ 23.48% 20.00% 20.00% 20.00% 20.00% $ 13,314.86 $ 15,977.84 $ 19,173.40 $ 83.89% 86.00% 86.00% 86.00% 86.00% $ 405.64 $ 486.77 $ 584.12 $ 2.62% 2.62% 2.62% 2.62% 2.62% $ 1,761.90 $ 2.114.28 $ 2,537.13 S S $ 458.09 $ 549.71 $ 659.65 $ 30.73% 26.00% 26.00% 26.00% 26.00% $ 1,303.80 $ 1,564.56 $ 1,877.48 $ $ 405.64 $ 486.77 $ 584.12 $ 26,753.59 $ 20.00% 23,008.08 $ 86.00% 700.94 $ 2.62% 3,044.56 $ 791.59 $ 26.00% 32,104.30 20.00% 27,609.70 86.00% 841.13 2.62% 3,653.47 949.90 26.00% % OF REVENUE EBIT TAXES % OF EBT A) EBIT (1-TAX)or NOPAT 1) DEPRECIATION &AMORTIZATION 2,252.97 $ 700.94 $ 2,703.57 841.13 2) CAPEX S 1,195.24 S 7.72% 1,434.29 $ 7.72% 1,721.15 $ 7.72% 2,065.38 S 7.72% 2,478.45 7.72% % OF REVENUE 7.72% 7.72% 3) NON-CASH WORKING CAPITAL $ 207.21 $ 248.65 $ 298.18 $ 358.05 $ 429.66 $ 306.99 $ 368.39 $ 442.27 $ 530.49 $ 636.59 TERMINAL VALUE $ 1,000.00 B) ENTERPRISE CASH FLOW (FCFF) 1) PV OF FCFF Terminal Growth Rate Terminal Value 2) PV of Terminal Value 3) ASSETS NOT REQUIRED TO GENERATE CASH FLOW c) ENTERPRISE VALUE( VALUE OF FIRM) FUNDED DEBT (INTEREST BARING) CASH & MARKTABLE SECURITIES D) VALUE OF EQUITY Number of Shares Outstanding E) PRICE PER SHARE -$ $ 3,000.00 1,000.00 100.000
