FCFF/FCFE 1) Calculate historical FCFF/FCFE in the last 5-10 years 2) Based on the historical growth rate and prior analysis, you can choose multi-stage) 3) Estimate k if using FCFE 4) Apply the model to compare Vequity or P0 per share 5) Justify the estimation 6) Pos and cons

FCFF/FCFE-----Flight Centr Travel Group Ltd

1) Calculate historical FCFF/FCFE in the last 5-10 years

2) Based on the historical growth rate and prior analysis, you can choose multi-stage)

3) Estimate k if using FCFE

4) Apply the model to compare Vequity or P0 per share

5) Justify the estimation

6) Pos and cons

related data--you can look annual report or website data