Working capital ratios remained the same in 2015 and 2014: CCC was 40 days, DSO 40 days and DIOH 35 days respectively. Capital expenditures were $30 MM in 2015. Total debt of Blue-Ray was $300 mln and cash balance at the end of 2015 was $15 mln. Company has 40 mln shares. a) Calculate FCF (free cash flow) of Blu-Ray Corporation in 2015. b) Assuming that business will grow at 2% per annum in foreseeable future and the cost of capital is 10% calculate the enterprise value of Blu-Ray Corporation. c) Calculate market capitalization and value of share price. (

Corporation Blu-Ray reported the following financial results for 2015 and 2014. $ MM 2015 2014 Net revenue 500 400 Direct Costs Depreciation Total COGS -300 -30 -330 -250 -30 -280 Gross margin 170 120 Selling and administration expenses -50 -40 EBIT 120 80 Tax, 20% -24 -16 Net income 96 64