Multiple Anaylsis:

Industry Enterpise value/ebit multiple - 20.8

Total enterprise value based on multiples -

intrinsic value of equity based on multples -

Average growrh rate of FCF to achieve the multiple anaylsis -

Total numbers of common stocks outstanding -

Intrinsic value of stock per share -

Actual stock price at the end of fiscal year 2019 -

conclusion: was the stock overvalued or undervalued -

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Arial -10 A- A Wrap Test General Copy B TU. Em Merge Center $ - % ) Conditional Format CH Formatting Styles Delete Toit 34 - Xfx2022'IM4 G H 30-Jun-18 30-Jun-17 78143000 18.34% 62176713 35 66412000 24 56% 5010355306 131339000 88575000 42764000 36.32000 128645000 49049000 79596000 7521000 91487713.35 B D E F Income Statement you may need to retype the numbers in the spreadsheets, and Change some into Oy 3 PERIOD ENDING 30-Jun-22 30 21 30-Jun-20 30-Jun-19 2 3 EBIT 73330301.83 70123661.45 68564356.07 59313000 1 Tax Rate 15 94% 15.94% 15.94% 15.94% 15 Unlevered Net Income 61638638.18 589432509 57632587.03 58261848.4 27 Operating Current Assets 184190590.4 1766433503 172973359.7 162819000 8 Operating Current Liability 9052313333 88203982 31 87078265.41 83968000 29 Net Operating Working Capital 93667457.07 31439357.95 85897094.29 78883000 00 Change in Net Operating Working Capital 5228099.113 2542263.684 7034094.288 36098000 01 02 Capital expenditure - Depreciation 1874834.633 911674,3808 2572477.73 3926000 03 04 FCF 54535704.43 55489312.06 48075995.02 260588484 06 06 Average growth rate of FCF 5.00% You can try any growth rate that is lower than WAOC 07 Horizon Value 1446291142 Da Horizon Value + FCF 1500026847 55489312.85 48075995.02 09 10 Enterprise Value $1.251,076,082.02 11 52 13 14 Please finish the following steps by yourself: 15 16 Intrinsic Value of Equity $1,238,064 02.02 117 Total Numbers of Common Stocks Outstanding 77100000 18 Intrinsle Value of Stock Per Share 7240140831 19 Actual Stock Price at the End of Fiscal Year 2019 7201 20 Conclusion: Was the Stock Overvalued or Undervalued? Overved 121 123 Scenario Analysis that is, sensitivity analysis) 124 Average growth rate of FCF 125 Intrinsie Value of Equity 126 Total Numbers of Common Stocks Outstanding 127 Intrinsic Value of Stock Per Share 128 Actual Stock Price at the End of Fiscal Year 2019 120 Conclusion: Was the Stock Overvalued or Undervalued? 130 131 132 Multiples Analysis: 2020 2001 2022 1% $654,968 3.85 17 100000 38 30339672 7201 Overvalde 393 3737910476.33 3546,682,46274 17500000 17100000 23.11.915651 497605638 72.91 72.91 Overval Overvalue 31001 270245 17100000 587201913 27201 Overvalue firm value + PERIOD ENDING Jun-21 30-Jun-19 30-18 30-Jun-17 70125145 56456 15 3000 7333001 15% 16 143000 050 52208434 123 24 50103530 ERIT Tax Rate Unsere Net income Operating Current Operating Current Liability Net Operating Working Catal Change in Net Opening Working Capital Capital pendiu. Depreciation 1245000 4043000 00000 16A 17663303 17237337 160013000 05237333 8820231 8208.41 36000 ST 143357.95 887094.23 78863000 522003 2542263664 70404281 1 29224717 54530 20 40755.42 1.00% Vou can try anywhere that we WACC 1462911 15027 5549124807505.02 13139000 0575000 12164000 -6700 1000 14H3.35 FCF Agrowth rate of FCF Horien Valve Hon Velve.FCF sehering to your Ve of Tour of Comments Online in Value of Stock Pur Share 119 Actual Stock Price at the end of 2018 Conds Was there Overder? 11900 Berarte Analysis ALACE Interne R. Peter Actus Pro 2010 Week Om 1. MUSLIM 100 51.7700012 IM D Arial -10 A- A Wrap Test General Copy B TU. Em Merge Center $ - % ) Conditional Format CH Formatting Styles Delete Toit 34 - Xfx2022'IM4 G H 30-Jun-18 30-Jun-17 78143000 18.34% 62176713 35 66412000 24 56% 5010355306 131339000 88575000 42764000 36.32000 128645000 49049000 79596000 7521000 91487713.35 B D E F Income Statement you may need to retype the numbers in the spreadsheets, and Change some into Oy 3 PERIOD ENDING 30-Jun-22 30 21 30-Jun-20 30-Jun-19 2 3 EBIT 73330301.83 70123661.45 68564356.07 59313000 1 Tax Rate 15 94% 15.94% 15.94% 15.94% 15 Unlevered Net Income 61638638.18 589432509 57632587.03 58261848.4 27 Operating Current Assets 184190590.4 1766433503 172973359.7 162819000 8 Operating Current Liability 9052313333 88203982 31 87078265.41 83968000 29 Net Operating Working Capital 93667457.07 31439357.95 85897094.29 78883000 00 Change in Net Operating Working Capital 5228099.113 2542263.684 7034094.288 36098000 01 02 Capital expenditure - Depreciation 1874834.633 911674,3808 2572477.73 3926000 03 04 FCF 54535704.43 55489312.06 48075995.02 260588484 06 06 Average growth rate of FCF 5.00% You can try any growth rate that is lower than WAOC 07 Horizon Value 1446291142 Da Horizon Value + FCF 1500026847 55489312.85 48075995.02 09 10 Enterprise Value $1.251,076,082.02 11 52 13 14 Please finish the following steps by yourself: 15 16 Intrinsic Value of Equity $1,238,064 02.02 117 Total Numbers of Common Stocks Outstanding 77100000 18 Intrinsle Value of Stock Per Share 7240140831 19 Actual Stock Price at the End of Fiscal Year 2019 7201 20 Conclusion: Was the Stock Overvalued or Undervalued? Overved 121 123 Scenario Analysis that is, sensitivity analysis) 124 Average growth rate of FCF 125 Intrinsie Value of Equity 126 Total Numbers of Common Stocks Outstanding 127 Intrinsic Value of Stock Per Share 128 Actual Stock Price at the End of Fiscal Year 2019 120 Conclusion: Was the Stock Overvalued or Undervalued? 130 131 132 Multiples Analysis: 2020 2001 2022 1% $654,968 3.85 17 100000 38 30339672 7201 Overvalde 393 3737910476.33 3546,682,46274 17500000 17100000 23.11.915651 497605638 72.91 72.91 Overval Overvalue 31001 270245 17100000 587201913 27201 Overvalue firm value + PERIOD ENDING Jun-21 30-Jun-19 30-18 30-Jun-17 70125145 56456 15 3000 7333001 15% 16 143000 050 52208434 123 24 50103530 ERIT Tax Rate Unsere Net income Operating Current Operating Current Liability Net Operating Working Catal Change in Net Opening Working Capital Capital pendiu. Depreciation 1245000 4043000 00000 16A 17663303 17237337 160013000 05237333 8820231 8208.41 36000 ST 143357.95 887094.23 78863000 522003 2542263664 70404281 1 29224717 54530 20 40755.42 1.00% Vou can try anywhere that we WACC 1462911 15027 5549124807505.02 13139000 0575000 12164000 -6700 1000 14H3.35 FCF Agrowth rate of FCF Horien Valve Hon Velve.FCF sehering to your Ve of Tour of Comments Online in Value of Stock Pur Share 119 Actual Stock Price at the end of 2018 Conds Was there Overder? 11900 Berarte Analysis ALACE Interne R. Peter Actus Pro 2010 Week Om 1. MUSLIM 100 51.7700012 IM D