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Please Post formulas. Need help with the Present values and Terminal Values. (financial figures in thousands of US dollars) Revenue growth Operating expenses / Revenue

Please Post formulas. Need help with the Present values and Terminal Values.

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(financial figures in thousands of US dollars) Revenue growth Operating expenses / Revenue Net working capital Net equipment Depreciation Capital expenditures Actual 2016 0.5% 57.4% 315.9 326.3 10.4 4.1 Forecast 2017 3.0% 57.4% 272.1 375.1 14.0 62.8 Forecast 2018 5.0% 57.0% 214.2 415.1 20.0 60.0 Forecast 2019 5.0% 56.5% 176.5 455.1 28.0 68.0 Forecast 2020 5.0% 56.0% 181.9 475.1 37.0 57.0 Forecast 2021 3.0% 54.0% 185.5 498.2 42.0 65.1 Forecast 2022 3.0% 53.0% 189.2 484.2 42.9 28.9 Forecast 2023 2.0% 53.0% 193.0 464.6 42.9 23.3 1,682 Net revenue Operating expenses Depreciation Physician salary Operating profit 1,602 920 14 500 168 20 525 178 1,766 998 28 551 189 1,854 1,038 37 579 200 1,910 1,031 42 596 240 1,967 1,043 43 614 268 2,007 1,064 43 626 274 155.0 DCF Valuation: Assumptions: Discount rate Tax rate Terminal growth rate (expected inflation) Warranted EBIT multiple at terminal date Net working capital (NWC) turnover Equipment turnover 9.00% 32.00% 1.50% 10.5 4.9 4.8 4.9 4.9 4.9 4.9 4.1 4.9 3.9 4.9 4.1 4.9 4.3 4.3 3.9 3.8 1 3 6 5 2021 7 2023 2017 2018 2019 2020 2022 NOPAT = EBIT * (1 - T) Depreciation Capital expenditures Investment in NWC Free Cash Flow Terminal value (constant growth assumption) Terminal value (no growth assumption) Terminal value (EBIT multiple) Terminal value = Book value Present value of forecast period Present value of terminal value Fair market value of firm

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