Valuation_Template_(Thomson_ONE_Worldscope_5-yr) -...

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Projections and Valuation Estimated price for most recent fiscal year 12/30/1899 = #DIV/0! Estimated price for target date 4/7/2017 = #DIV/0! Most Recent Projected 12/30/99 12/30/00 Income Statement ($ Thousands) Sales $ 0 #DIV/0! Costs of goods sold (COGS) 0 #DIV/0! Sales, general and administrative expense (SGA) 0 #DIV/0! Depreciation 0 #DIV/0! Operating profit $ 0 #DIV/0! Interest expense 0 0 Interest income 0 0 Nonoperating income (Expense) #DIV/0! #DIV/0! Earnings before taxes (EBT) #DIV/0! #DIV/0! Tax expense #DIV/0! #DIV/0! Net income before extraordinary items #DIV/0! #DIV/0! After-tax extraordinary income (Expense) #DIV/0! #DIV/0! Net income (NI) #DIV/0! #DIV/0! Dividends-- preferred $ 0 $ 0 Dividends-- common $ 0 #DIV/0! Additions to RE #DIV/0! #DIV/0! Balance Sheets ($ Thousands) 12/30/99 12/30/00 Assets Cash $ 0 #DIV/0! Inventory 0 #DIV/0! Accounts receivable 0 #DIV/0! Other short-term operating assets 0 #DIV/0! Short-term investments 0 #DIV/0! Total current assets $ 0 #DIV/0! Net plant, property, & equipment (PPE) 0 #DIV/0! Other long-term operating assets 0 #DIV/0! Long-term investments 0 #DIV/0! Total Assets $ 0 #DIV/0! Liabilities and Equity Accounts payable (AP) $ 0 #DIV/0! Accruals 0 #DIV/0! Other operating current liabilities 0 #DIV/0! All short-term debt 0 #DIV/0! Total current liabilities $ 0 #DIV/0! Long-term debt 0 #DIV/0! Deferred taxes 0 #DIV/0!
Preferred stock 0 #DIV/0! Other long-term liabilities 0 #DIV/0! Total liabilities $ 0 #DIV/0! Par plus PIC Less treasury (and other adjustments) #DIV/0! #DIV/0! Retained earnings (RE) #DIV/0! #DIV/0! Total common equity #DIV/0! #DIV/0! Total liabilities and equity #DIV/0! #DIV/0! Info for making the sheets balance Specified assets #DIV/0! Specified liabilities #DIV/0! Net required financing #DIV/0! Current debt #DIV/0! Short-term investments #DIV/0! Balance check: TA-TL #DIV/0! Valuation Calculating Projected FCF Marginal tax rate #DIV/0! #DIV/0! Reported income tax expense #DIV/0! #DIV/0! Taxes reported but not paid 0 #DIV/0! Actual taxes paid #DIV/0! #DIV/0! Plus tax saved due to net interest expenses #DIV/0! #DIV/0! Minus tax paid on non-operating income #DIV/0! #DIV/0! Tax on operating income #DIV/0! #DIV/0! Net operating profit after taxes (NOPAT) #DIV/0! #DIV/0! NOPAT adjusted for extraordinary income #DIV/0! #DIV/0! Operating current assets 0 #DIV/0! Operating current liabilities 0 #DIV/0! Net operating working capital 0 #DIV/0! Operating long term capital 0 #DIV/0! Operating capital (adjusted for any special asset impairment of a 0 #DIV/0! Investment in operating capital 0 #DIV/0! Free cash flow (including extraordinary income) #DIV/0! #DIV/0! Calculating Projected ROIC ROIC (NOPAT/ Beginning capital) #DIV/0! #DIV/0! Projected Growth Rates Growth in Sales #DIV/0! Growth in NOPAT #DIV/0! Growth in operating capital #DIV/0! Growth in FCF #DIV/0!
Calculating Value WACC #DIV/0! #DIV/0! Assumed long-term return on invested capital Horizon value Value of operations #DIV/0! #DIV/0!

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