1. 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.

2. PLEASE SHOW WORK IN EXCEL FORMULAS! PLEASE SHOW WORK IN EXCEL FORMULAS!

3. Using EPS, Book Value (BV), Sales, EBITDA, Premium and Synergy over stock price,what should be Jaguar's prices per share?

4. To find Max: For EPS and Book Value, to find Maximum we have to multiply Jaguar EPS * Median For Sales and EBITDA, we have to divide the equity value to the Jaguar shares o/s (M) and for the Premium and Synergy, we have to multiply the Pre-Announcement Stock Price to the (1+ Average or Median.

5. 

B D E F H Equity Valuations using Multiples and Transactions EPS BV Sales EBITDA Premium 2 Synergy Historical Multiples: - Average - Median 17.19 18.13 3.63 3.69 2.41 2.37 10.57 9.91 53.3% 53.0% 24.8% 24.5% Jaguar shares o/s (M) 88.33 Last 40 4.84 Est. 2021 4.91 Est. 2022 5.69 32.46 3,722 2,094 EPS Jaguar EPS Maximum 10 Minimum Book Value 12 Jaguar Book Value 13 Maximum Minimum 15 Sales 16 Jaguar Sales (Last 40) 17 Average Sales Multiple Fimm Value 19 Debt Value 20 Equity Value 21 Maximum 22 Minimum 23 EBITDA 24 Jaguar EBITDA (Last 40) 25 Average EBITDA Multiple 26 Fimm Value 27 Debt Value 28 Equity Value 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 39 40 1,017 2,094 8,656 71.00 71.00 41 42