JTM Airlines is looking to buy Jaguar Airlines. Your boss, the CFO, wants a quick and dirty valuation of Jaguar. You choose to look at past transactions in the airline industry to get some numbers and put them in an Excel spreadsheet. For Jaguar, you find out the firm's key financial values and put them in the spreadsheet. To remind yourself that they are inputs, you should color them red. Using EPS, Book Value (BV), Sales, EBITDA, Premium and Synergy over stock price, what should be Jaguar's prices per share?

F G H Premium Synergy 40.0% 30.0% 20.0% 15.0% Jaguar shares o/s (M) 75.00 2.20 A C D E 1 Equity Valuations using Multiples and Transactions 2 EPS BV Sales EBITDA 3 Historical Multiples: 4 - Average 14.00 3.00 2.00 10.00 5 Median 13.50 2.50 9.00 6 7 EPS Last 40 Est. 2021 Est. 2022 8 Jaguar EPS 4.84 4.91 5.69 9 Maximum 10 Minimum 11 Book Value 12 Jaguar Book Value 32.46 13 Maximum 14 Minimum 15 Sales 16 Jaguar Sales (Last 40) 3,722 17 Average Sales Multiple 18 Finn Value 19 Debt Value 2,094 20 Equity Value 21 Maximum 22 Minimum 23 EBITDA 24 Jaguar EBITDA (Last 40) 1,017 25 Average EBITDA Multiple 26 Firm Value 27 Debt Value 2,094 28 Equity Value 8,076 29 Maximum 30 Minimum 31 Premium 32 Pre-Announcement Stock Price 33 Maximum 34 Minimum 35 Synergy 36 Pre-Announcement Stock Price 37 Maximum 38 Minimum 71.00 71.00