Valuation Using Price-to-NOA Multiple and PB Multiple The following table provides summary data for Target Corp. and its competitors, Kohl's Corp. and Walmart Stores Inc (in millions) Target Kohl's Wal-Mart S251,159 S209,830 $124,940 S83,611 $41,329 3,262.0 shares Company assumed value Equity assumed value Net operating assets Book value of equity Net nonoperating obligations (assets) Common shares outstanding $13,255 9,254 9492 5,491 $4,001 186.0 shares 521,671 $12,957 58,714 640.2 shares (a) Compute the price to net operating assets ratio for both Kohl's and Wal-Mart. Round your answers to two decimal places. Kohl's 0 Wal-Mart 0 (b) Use Kohl's and Walmart as comparables, along with the price to NOA ratios from part a, and then estimate for Target its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share Average of the two rounded ratios in (a) above Rounded to two decimal places.) Use your rounded answer above to calculate the following Round company intrinsic value and equity intrinsic value to the nearest million. Round equity intrinsic value to the nearest cent. Company intrinsic value s 0 Equity intrinsic values 0 Equity intrinsic value per shares million million o (c) Compute the PB ratio for both Kohl's and Wal-Mart. Round your answers to two decimal places. Kohl'sO Wal-Mart 0 (d) Use Kohl's and Wal-Mart as comparables, along with the PB ratios from part (c), and then estimate for Target its equity intrinsic value and its equity intrinsic value per share. Round the equity intrinsic value to the nearest million and the value per share to the nearest cent. Average of the two rounded ratios in (c) above Round to two decimal places.) Use the rounded average calculated above to calculate the following Equity intrinsic value s0 Equity intrinsic value per share s 0 million Valuation Using Price-to-NOA Multiple and PB Multiple The following table provides summary data for Target Corp. and its competitors, Kohl's Corp. and Walmart Stores Inc (in millions) Target Kohl's Wal-Mart S251,159 S209,830 $124,940 S83,611 $41,329 3,262.0 shares Company assumed value Equity assumed value Net operating assets Book value of equity Net nonoperating obligations (assets) Common shares outstanding $13,255 9,254 9492 5,491 $4,001 186.0 shares 521,671 $12,957 58,714 640.2 shares (a) Compute the price to net operating assets ratio for both Kohl's and Wal-Mart. Round your answers to two decimal places. Kohl's 0 Wal-Mart 0 (b) Use Kohl's and Walmart as comparables, along with the price to NOA ratios from part a, and then estimate for Target its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share Average of the two rounded ratios in (a) above Rounded to two decimal places.) Use your rounded answer above to calculate the following Round company intrinsic value and equity intrinsic value to the nearest million. Round equity intrinsic value to the nearest cent. Company intrinsic value s 0 Equity intrinsic values 0 Equity intrinsic value per shares million million o (c) Compute the PB ratio for both Kohl's and Wal-Mart. Round your answers to two decimal places. Kohl'sO Wal-Mart 0 (d) Use Kohl's and Wal-Mart as comparables, along with the PB ratios from part (c), and then estimate for Target its equity intrinsic value and its equity intrinsic value per share. Round the equity intrinsic value to the nearest million and the value per share to the nearest cent. Average of the two rounded ratios in (c) above Round to two decimal places.) Use the rounded average calculated above to calculate the following Equity intrinsic value s0 Equity intrinsic value per share s 0 million
