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please help by filling in the blank space. this is due by midnight. thank you ou may notice the large differential between the GAAP and

please help by filling in the blank space. this is due by midnight. thank you
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ou may notice the large differential between the GAAP and Non-GAAP EPS forecasts for many of these companies. Even more interesting, many publishing analysts forecast Non. GAAP EPS for 2022E and bevond as these are the figures they rely on for their valuation work In the case of Nphabet (GOOGL), the primary difference between GAAP and Non-GAAP EPS is stock based compensation. Analysts rarely forecast one-time items unless they are previously announced by the company (such as a write- off or legal expense). 48 Define the 'Comps' and Calculate the Selected 'Comps' Average Multiples 49 (1) Calculate the multiples in fows 67 to 70 for columns 6 to N. 50 (2) In row 73, enter TRUE if the company is a comparable with FB and FALSE if not. 51. Hint: There are two companies thot are not strong comparables for Focebook. 52 (3) in row 74, enter TRUE if any of the multples you calculated in 5 tep (1) are NOT anom dous, and enter FALSE if the mulitple is anomelous. 53 Hint: in Part 1 Review (Workbook 1), we discussed Data infegrity and the challenges of encountering erroneous, ovelier and irregular dots. Your goal is to determine if any of the companies below should be eliminated from the potential 'comp' group becouse the data is anomolous. While it is not alway posible to precisely define 'anomolous', if you canot determine in this case which company is an anomoly you have made a mistake calculating the ratios. In Strategic Forecasting (Workbok 9), we removed an outlier and saw a significant improvement in the relationship between capacity utilization and profitability. in this exereise, you are doine something similar and 'scrubbinc' the data to remove outliers that are anomalous. (4) In row 75, enter an If function with an embedded AND function that resuls in TRUE when row 73 and row 74 ARE both ThUE and results in FALSE if either row is FALSE. Hint: Look of the TRUE and FALSE in row 75 and confirm you used the correct logic Do your onswers make sense? (5) In column P, calculate the average multiples for the Selected 'Comps' for rows 67 to 70 . Hilit: Use the AVIRAGEIF function to make sure you anly include the carrect 'comps' vou hove selected in row 75 . [HINT USE FALSE IF YOU WANT TO REMOVE THE COMPANY FROM THE ANALYSISI] In how 75, rou selected companies that were utrens comparables fer facebsot. Why ibd vou select theie comparses as "tomes'? a) These are all inteinet companies and members of the same industry sector b) Theie comparies hone a simbar revenue model which inlies on interret advertising c) These comparies have a smalar customer base, concemer. di All of the above alculate the Implied FB Target Price Using Each Multiple 1) Apply the Selected 'Comps' Average Multiple to the FB 2022E Financial Data to calculate the Implied FB Target Price in each row. Hint: Colculate FB's 2022E Financial Data for column F from the the data in column E of rows 26 to 43. Hint-Make sure unu use a ner share fiaure when asked in column F below. Contrast the Relative Valuation with the Intrimic Valuation (Olucounted Cash Flow) Perfermed on Facebock How does vour relative valustion compare with the valuation you generated ining a Disounted Cash flow in the CASE fB o0 \begin{tabular}{|c|c|c|c|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Which metric would you use to value fa? a. The Price/Sales ratio as it is appropriate for kigh multiple companies with very strong earnings b. The P/E multiple as if is the moat commonly used and supported by Shiller's analyis. c. The EV/ EBITDA mult ple as it is instated from fonancing and MRA. d. The Discounted Cash f low as a metric to gave a target based on long term cash flow forcasts e a band c fbc and d g. all of the above

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