Enterprise Valuation & Terminal Value
Given
Gross Margin	40%
Fixed Costs	$ 2,000
Revenue Growth Rate for Years 1 - 5	10%
FCF Steady Growth	3%
Discount Rate	12%
Year 1 Revenue	$ 5,000
Tax Rate	35%
Terminal Year	5
		1	2	3	4	5
Revenues
Gross profits
Fixed Costs
Net Operating Income
Taxes
Free Cash Flow
NPV for Years 1-5 Cash Flows
Terminal Value (as of Year 5)
PV of Terminal Value
Enterprise Value
PV of Terminal Value / Enterprise Value