Tesla Project part 3 File Edit View Insert Format Data Tools Extensions Help % 0 .00 123 Googl... 5 8 9 100% fx A B H9 HH - 15 + BIA RAG + + Y @ A Share J K L M N 4 5 6 7 8 9 10 NAME OF COMPANY C D E F Tesla (TSLA) BE VERY CAREFUL WITH THE DECIMAL POINTS LAST YEAR NUMBER OF SHARES OUTSTAN MARKET PRICE OF STOCK / SH NET INCOME AFTER TAXES TOTAL SALES 2023 Year 3,176,000 Millions of Shares $174.60 Dollars Per Share 14,974,000 Millions of Dollars $96,773,000 Millions of Dollars G H | OUTPUT BELOW & IN SUBSEQUENT WORKSHEETS WATCH DECIMAL POINT 11 BOOK VALUE OF EQUITY 97040000 Millions of Dollars 14 234 12 RISK FREE RATE (10 Yr. T- Bond 4,00% Annual Percentage Rate 13 DIVIDENDS PAID (TOTAL) 0 Millions of Dollars (Find on Statement of Cash Flows) STOCK REPURCHASES (TOTAL) 0 Millions of Dollars (Find on Statement of Cash Flows) 15 REQUIRED INFORMATION FOR CALCULATION OF REQUIRED R 16 BETA OF STOCK 2.417317246 17 MARKET RISK PREMIUM 0.23382 Expected Market Risk Premium % Should be Between 5% & 6% 18 REQUIRED INFORMATION FOR VARIABLE GRO 19 2016 20 EXPECTED GROWTH RATE (DIV 3,80% 21 Terminal 2017 3,50% 2018 3,25% 2019 3,00% Terminal 2,50% The Terminal Growth Rate Should Not Exceed 2% to 3% 22 22 OUTPUTS AND VALUATIONS Geometric Mean of Annual Rates Dividend Discount Model Average of CAPM and Dividend Discount Model (ROE (1-Payout Ratio)) 23 COMPUTER-GENERATED CALCULATIONS 24 EARNINGS PER SHARE $3,48 25 LAST CASH DIVIDEND & STOCK $2,75 26 EXPECTED ANNUAL GROWTH F 3,18% 27 REQUIRED RATE OF RETURN (k 5,25% CAPM 28 REQUIRED RATE OF RETURN (k 6,20% 29 REQUIRED RATE OF RETURN (k 5,72% 30 SUSTAINABLE RATE OF GROWT 5,03% 31 + data input stock return stock price constant growth Stock price variable growth N Format Tesla Project part 3 File Edit View Insert 5 100% Project... Data Tools Extensions Help % .0 123 Times... - 10 + docs.google.com BIA D21 fx 2019 A B C D E F G H 1 2 PRICE OF STOCK - VARIABLE GROWTH MODEL 3 4 5 INPUTS 6 7 LAST YEAR (e.g. 2018 2019 2020 2021 2022 2023 8 LAST CASH & ST 9 EXPECTED ANN - 10 REQUIRED RATE 11 (ROR or k) 12 OUTPUT 231 13 14 15 16 17 18 19 20 21 22 DIVIDENDS 23 FUTURE PRICE 24 25 NON-DISCOUNTED CASH FLOWS 26 27 PRESENT VALUI 28 29 FORMULA G 00 |PO = Present Value of D Plus Present Value of Future Stock Price 2019 2020 2021 2022 2023 2 Share C Y @ + K L M N + data input stock return stock price - constant growth Stock price variable growth N Tesla Project part 3 File Edit View Insert Format 5 100% E22 fx A B C Project... Data Tools Extensions Help % .0 St D 123 Defaul... - E 10 1 PRICE OF COMMON STOCK - CONSTANT GROWTH MODEL 2 3 4 LC 5 a INPUTS 7 LAST CASH/STOCK REPURCHASE PAYMENT PER SHARE REQUIRED RATE OF RETURN (ROR) 8 9 EXPECTED ANNUAL GROWTH RATE 10 (Dividends + Stock Repurchases) 11 12 13 31 14 567 15 PRICE OF STOCK 16 17 18 19 20 21 22 23 24 25 26 27 28 29 OUTPUT + docs.google.com BIA { G 2 Share C- Y +88 F G H | J K L M N k must g FORMULA PO=D1/(k-g) + data input stock return stock price - constant growth Stock price variable growth E15 1 2 3 4 LC 5 a N Tesla Project part 3 File Edit View Insert Format 5 100% fx A B C Project... Data Tools Extensions Help % .0 St D 123 Times... - 10 + docs.google.com BIA E F G H EXPECTED RETURN COMMON STOCK INPUTS 7 LAST DIVIDEND & STOCK REPURCHASE PER SHARE 8 PRICE OF STOCK 9 EXPECTED GROWTH RATE (DIVIDENDS & STOCK REPURCHASES) 10 11 12 OUTPUT 13 14 15 ESTIMATED REQUIRED RATE OF RETURN (k) 16 17 18 19 21 23 24 27 568022222222222 29 G FORMULA k = (D1/P0)+g A C- Y @ 2 Share +88 J K L M N + data input stock return stock price constant growth Stock price variable growth