Valuation Using Price$-$to$-$NOPAT Multiple

The following table provides summary data for Applied Materials Inc. and its competitors, KLA Tencor Corporation and Lam Research Corporation.

a$.$ Compute the price to NOPAT ratio for both KLA Tencor Corporation and Lam Research Corporation.

Round answers to two decimal places, when applicable.

b$.$ Use KLA Tencor Corporation and Lam Research Corporation as comparables, along with the price to NOPAT ratios from part a$,$ and then estimate for Applied Materials

its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share.

Round company and equity intrinsic values to the nearest million.

Round equity intrinsic value per share to two decimal places.