- Haley.Dwvideon e peste motor, motorcydepuis und related accessori al merchandise in the United State totally is headquartered was the following list Hadley Davidson and five other similcome to value-Duvidion of December 31, 2004 Harlondon 2004 will Net Income $ 889.27 Number of common sha, millions 29431 aming before interest and tax $ 9 1.506.16 TAK 35.04 10 Book value of quity 218.47 11 Book value interest-bearing debt $ 1.295.44 12 Total Sales 5 $320.45 13 Totale 5 5,40329 14 15 Harley- Arctic Polaris Marine Winnebago 16 Davidson Cat Brunswick Industries Products Industries 17 Comparison of brand with Comparable Companies 18 Growth Rates, Financial Risks. Sie Reums 19 5 year growth rate in sales (%) 155 8.2 4.1 6.1 15.5 103 20 5 year growth rate in eps (%) 28.1 111 471 150 25.1 17.2 21 Interest coverage ratio) 60.0 8.9 85.1 22 Total abilities to assets (%) 04 0.3 0.6 02 0.5 23 Total assets (5 millions) 5,483 256 4,340 793 110 395 24 25 Indicators of Value 18.9 17.8 278 200 18.0 26 Priceleamings) 17.3 243 29.0 27 MV EBIT(1-tax rate)) 28 28 80 77 6.5 28 MV equity'BV equity) 28 23 7.7 77 29 MV BV fimm(K) 0.9 16 2.7 1.2 30 Proosales) 0.8 1.1 17 27 12 31 MV sales ) 32 33 These companies have le or no interest-bearing debt outstanding 34 35 36 Tasks to completo 37 Step 1 - Compute Mean and Median Values for per organizations. (Exclude HD from the computations 38 Step 2 - Present and JUSTIFY your estimates using EACH of the following: 39 - Pricelearnings 40 b- MV firm/EBIT-tax rate) - MV equity/V equity + + 120 0.8 - Chapter 9 Problem 16 Answers Not One: Only enter answers into the Gran Calle Harlo-Davidson Inc. 2004 / Millions) Two You MUST the Excel formules de NOT simply a number Net income S 889.77 Three: A few Calls may have some guidance help you warwan Number of common shares, millions 29431 Earnings before interest and tax 1,402.30 Tax rate 35.5% Book value of equity 5 3,218,47 Book value interest-bearing debt $ 1.295.44 0 Total Sales S 5,320.45 1 Total Assets s 5,483.29 Step 1: 2 Excluding 3 Harley Arctic Polaris Marine Winnebago Harley-Davidson: 14 Davidson Cat Brunswick Industries Products Industries Median Mean 15 Comparison of Timberland with Comparable Companies: 16 Growth Rales, Financial Riskl Size, Rolumns 17 5-year growth rate in sales (%) 15.5 6.2 4.1 6.1 15.5 108 28.1 18 5-year growth rate in eps (%) 11.1 47.1 15.9 172 25.1 60.9 10 Interest coverage ratio (x) 8.9 85.1 20 Total liabilities to assets (%) 0.4 0.3 0.6 0.5 0.2 05 5,483 21 Total assets ($ millions) 286 793 4,346 110 395 Check Figure ce As Compute the median and mean 22 values for Harley Davidson's peers Indicators of Value here sy 23 16.9 178 278 28.6 18.8 24 Pricelearnings (*) 173 194 24.3 29.0 17.6 25 MV firm/EBIT(1-tax rate) (x) 28 28 8.0 7.7 5.5 26 MV equity/BV equity (x) 28 23 7.7 7.7 6.5 27 MV firmBV firm (X) 0.8 0.9 1.6 2.7 1.2 20 Price/sales (x) 0.8 1.1 1.7 27 12 20 MVfm/sales) 30 31 32 Stap 2: Enter all assumptions and logic for your valuation methodology in this text 33 box: 35 ring 36 Step 3 - Enter the estimated indicators of value for Harley-Davidson Inc: 37 Price earnings 38 MV fimm EBIT(1. tax rate) 39 MV equity BV equity 40 MV firm/BV firm X 41 Pricelales (X) X 42 MV fimysales (x) 43 44 45 SIIRRYTTERS arcore ARE 40 Price camins 47 MV EBITI-tax rate) 40 MV equity/BV equity 40 MVfBV firm 50 Priceles 51 MV firmales 52 Average implied value Check ure Ce 1852562 23 53 54 Step 5: Enter a summary of your valuation ss findings here: - Haley.Dwvideon e peste motor, motorcydepuis und related accessori al merchandise in the United State totally is headquartered was the following list Hadley Davidson and five other similcome to value-Duvidion of December 31, 2004 Harlondon 2004 will Net Income $ 889.27 Number of common sha, millions 29431 aming before interest and tax $ 9 1.506.16 TAK 35.04 10 Book value of quity 218.47 11 Book value interest-bearing debt $ 1.295.44 12 Total Sales 5 $320.45 13 Totale 5 5,40329 14 15 Harley- Arctic Polaris Marine Winnebago 16 Davidson Cat Brunswick Industries Products Industries 17 Comparison of brand with Comparable Companies 18 Growth Rates, Financial Risks. Sie Reums 19 5 year growth rate in sales (%) 155 8.2 4.1 6.1 15.5 103 20 5 year growth rate in eps (%) 28.1 111 471 150 25.1 17.2 21 Interest coverage ratio) 60.0 8.9 85.1 22 Total abilities to assets (%) 04 0.3 0.6 02 0.5 23 Total assets (5 millions) 5,483 256 4,340 793 110 395 24 25 Indicators of Value 18.9 17.8 278 200 18.0 26 Priceleamings) 17.3 243 29.0 27 MV EBIT(1-tax rate)) 28 28 80 77 6.5 28 MV equity'BV equity) 28 23 7.7 77 29 MV BV fimm(K) 0.9 16 2.7 1.2 30 Proosales) 0.8 1.1 17 27 12 31 MV sales ) 32 33 These companies have le or no interest-bearing debt outstanding 34 35 36 Tasks to completo 37 Step 1 - Compute Mean and Median Values for per organizations. (Exclude HD from the computations 38 Step 2 - Present and JUSTIFY your estimates using EACH of the following: 39 - Pricelearnings 40 b- MV firm/EBIT-tax rate) - MV equity/V equity + + 120 0.8 - Chapter 9 Problem 16 Answers Not One: Only enter answers into the Gran Calle Harlo-Davidson Inc. 2004 / Millions) Two You MUST the Excel formules de NOT simply a number Net income S 889.77 Three: A few Calls may have some guidance help you warwan Number of common shares, millions 29431 Earnings before interest and tax 1,402.30 Tax rate 35.5% Book value of equity 5 3,218,47 Book value interest-bearing debt $ 1.295.44 0 Total Sales S 5,320.45 1 Total Assets s 5,483.29 Step 1: 2 Excluding 3 Harley Arctic Polaris Marine Winnebago Harley-Davidson: 14 Davidson Cat Brunswick Industries Products Industries Median Mean 15 Comparison of Timberland with Comparable Companies: 16 Growth Rales, Financial Riskl Size, Rolumns 17 5-year growth rate in sales (%) 15.5 6.2 4.1 6.1 15.5 108 28.1 18 5-year growth rate in eps (%) 11.1 47.1 15.9 172 25.1 60.9 10 Interest coverage ratio (x) 8.9 85.1 20 Total liabilities to assets (%) 0.4 0.3 0.6 0.5 0.2 05 5,483 21 Total assets ($ millions) 286 793 4,346 110 395 Check Figure ce As Compute the median and mean 22 values for Harley Davidson's peers Indicators of Value here sy 23 16.9 178 278 28.6 18.8 24 Pricelearnings (*) 173 194 24.3 29.0 17.6 25 MV firm/EBIT(1-tax rate) (x) 28 28 8.0 7.7 5.5 26 MV equity/BV equity (x) 28 23 7.7 7.7 6.5 27 MV firmBV firm (X) 0.8 0.9 1.6 2.7 1.2 20 Price/sales (x) 0.8 1.1 1.7 27 12 20 MVfm/sales) 30 31 32 Stap 2: Enter all assumptions and logic for your valuation methodology in this text 33 box: 35 ring 36 Step 3 - Enter the estimated indicators of value for Harley-Davidson Inc: 37 Price earnings 38 MV fimm EBIT(1. tax rate) 39 MV equity BV equity 40 MV firm/BV firm X 41 Pricelales (X) X 42 MV fimysales (x) 43 44 45 SIIRRYTTERS arcore ARE 40 Price camins 47 MV EBITI-tax rate) 40 MV equity/BV equity 40 MVfBV firm 50 Priceles 51 MV firmales 52 Average implied value Check ure Ce 1852562 23 53 54 Step 5: Enter a summary of your valuation ss findings here