Even so, we need to know how to do it. Below you will find a table of expected future cash flows for Disney. Assume a WACC of 8.6% and a terminal value based upon 17.0 times cash flow. Disney's stock price is currently trading at $153.21. Does your NPV analysis suggest you buy the shares? What is your NPV valuation of Disney shares. FY 2023 10.15 FY 2024 11.17 FY2025 1229 FY2026 1351 FY2027 1487 FY2028 1535 FY2029 17.99 FY 2010 1979 FY2031 2176 Free Cash Flow to the Firm Aminage WACC Average Price to Free Cash Flow FY 2022 923 8.6% 170 Disney Historical NPV Analysis FY 2017 FY 2020 FY 2012 444 9.8% FY 2013 5.27 100% FY 2014 562 10.1% FY 2015 844 FY 2016 801 787 FY 2018 9.54 2.99 FY 2019 399 7.1% 421 9.45 Free Cash Flow to the Firm WACC Average WACC Price to Free Cash Flow to the Firm Average Price is Free Cash Flow FY 2011 3.72 9.99 8.9% 155 200 224 176 239 283 i 181 17.7 173 1244 61.6 8440 8881 444 5.27 562 844 8.00 306 787 954 390 Terminal Value Total Discountng Cash Flows (including Terminal Value) Calculated Value of Disney Stock on 13/31/2010 Actual value of Disney Stock on 1391/2010 Percent Difference 3.72 7295 $ $ 3751 486% Disney Prospective NPV Analysis FY 2025 FY 2023 10.15 FY 2024 11.17 FY 2025 1351 FY 2027 1487 FY 2028 1635 FY2029 17.99 FY 2030 1979 FY 2031 2170 1229 FY 2022 923 8.6% 170 Free Cash Flow to the Firm Average WAOC Average Price to Free Cash Flow Terminal Value Total Discountng Cash Flows (Including Terminal Value) Value of Disney Stock Using NPV Price of Disney Stock 129/2021 Percent Difference 309.99 39175 11.17 1229 13.51 10.15 1835 1487 17.90 1979 $ $ 9.23 252 23 153.25 84 6%