assignment 1.xlsx - Kyowa Pharmasuticals va(JYP million...

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Kyowa Pharmas (JYP million) 2006 2007 2008 2009 2010 sales 7,595.00 8,132.00 9,433.00 10,659.00 11,831.00 Cost of good sold -4887 (5,106.90) (5,895.63) (6,693.85) (7,311.56) Gross profit 2,708.00 3,025.10 3,537.38 3,965.15 4,519.44 sales cost -927 (992.10) (1,150.83) (1,300.40) (1,443.38) R&D -815 -872.5636 -1012.1609 -1143.7107 -1269.4663 Administrative expence -557 -562.57 -568.1957 -573.877657 -579.616434 Operating Income 409 597.87 806.19 947.16 1,226.98 Non operating revenue 55 50 50 50 50 Non operating Expence -130 -131 -131 -131 -131 ordinary income 334 516.8664 725.1924 866.161643 1145.97727 Extraordinary losses -90 -20 -20 -20 -20 EBIT 244 496.8664 705.1924 846.161643 1125.97727 Intererat and dividends 2 2 2 2 2 EBT 246 498.8664 707.1924 848.161643 1127.97727 0.42 -110 -209.523888 -297.020808 -356.22789 -473.750452 Net income after tax 136 289.342512 410.171592 491.933753 654.226815 cash 747 770 770 770 770 change.Working capital (97.00) (74.00) (74.00) (74.00) (74.00) change.capital exp 424 543 459 460 470 depreciation 297 391 330 340 360 Net income 136 289.342512 410.171592 491.933753 654.226815 interest(1-tax) 1.16 1.16 1.16 1.16 1.16 cost of equity Cost of debt unlevered beta 0.56 2.43% D/E Kyowa Value 1.342 levered beta 0.9958816 WACC Rf 1.600% 4.41% Risk premium 5.80% 4.40844531 Cost of equity 7.38% [email protected]%
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suticals valuation 2011 2012 2013 2014 2015 2016 13,192.00 14,775.00 16,622.00 18,783.00 21,319.00 24,517.00 (8,126.27) (9,116.18) (10,122.80) (11,420.06) (12,940.63) (14,857.30) 5,065.73 5,658.83 6,499.20 7,362.94 8,378.37 9,659.70 (1,609.42) (1,802.55) (2,027.88) (2,291.53) (2,600.92) (2,991.07) -1415.5016 -1585.3575 -1783.5406 -2015.4159 -2287.5287 -2630.6741 -585.412598 -591.2667239 -597.1793911 -603.151185 -609.1826969 -615.274524 1,455.39 1,679.65 2,090.60 2,452.84 2,880.74 3,422.68 50 50 50 50 50 50 -131 -131 -131 -131 -131 -131 1374.3898 1598.6507761 2009.5980089 2371.842915 2799.7376031 3341.675376 -20 -20 -20 -20 -20 -20 1354.3898 1578.6507761 1989.5980089 2351.842915 2779.7376031 3321.675376 2 2 2 2 2 2 1356.3898 1580.6507761 1991.5980089 2353.842915 2781.7376031 3323.675376 -569.683717 -663.873326 -836.4711637 -988.6140243 -1168.329793 -1395.94366 786.706085 916.77745015 1155.1268451 1365.2288907 1613.4078098 1927.731718 770 770 770 770 770 770 (74.00) (74.00) (74.00) (74.00) (74.00) (74.00) 500 430 480 490 500 410 410 317 364 389 410 300 786.706085 916.77745015 1155.1268451 1365.2288907 1613.4078098 1927.731718 1.16 1.16 1.16 1.16 1.16 1.16 9.86
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  • Spring '18
  • surjith reddy

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