2009 Valuation analysis

2009 Valuation analysis - $7,008,084 16,000,000...

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SECURITY METRICS 2005 2006 2007 2008 2009 Sales 1,908,981 2,294,400 4,049,669 9,064,727 18,950,750 Multiple 2 Sales Valuation = 37,901,500
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2010
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CAPITALIZATION OF EARNINGS METHOD 2005 2006 2007 2008 2009 Net Income (45,398) (48,289) 372,892 1,191,278 4,925,087 + Owner's salary 54,123 68,981 112,228 647,197 950,000 + Interest Expense 24,102 44,111 45,529 40,455 0 + Deprecialtion Expense 23,026 30,203 54,405 114,561 155,963 + Amortization Expense 76,132 93,553 98,203 0 0 Adjusted Cash Flow 131,985 188,559 683,257 1,993,491 6,031,050 Weighting 10% 10% 10% 20% 50% Weighted Average ACF 3,514,603 Cap Rate 5 Market Value 17,573,017
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2010
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SECURITY METRICS EBITDA = EARNINGS + INTEREST + TAXES (Income) + DEPRECIATION + AMORTIZATION 2009 Net Income 4,925,087 + Interest Expense 0 + Taxes 2,092,075 + Deprecialtion Expense 155,963 + Amortization Expense 0 EBITDA 7,173,125 Multiple = 5 Market Value = 35,865,625
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SECURITY METRICS VALUATION Shares VALUATION METHODS Outstanding NET WORTH
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Unformatted text preview: $7,008,084 16,000,000 CAPITALIZATION OF EARNINGS METHOD $17,573,017 16,000,000 EBITDA $35,865,625 16,000,000 SALES $37,901,500 16,000,000 Average All $24,587,056 Average w/o Net Worth $30,446,714 16,000,000 Per Share 0.44 1.10 2.24 2.37 1.90 SourceFire ( Public Company Comparable ) ( in millions of $ ) Sales (latest 12 months) 119.1 Net Income 20.7 17% Market Value (Equity) 811.3 Enterprise Value (EV) 650.1 EBITDA 16.8 Sales multiple (EV) 5.5 EBITDA multiple 39 Data Source: YAHOO FINANCE FIRE (Ticket symbol)- KEY STATISTICS SECURITY METRICS Shares VALUATION METHODS Outstanding NET WORTH $7,008,084 16,000,000 CAPITALIZATION OF EARNINGS METHOD $17,573,017 16,000,000 EBITDA $35,865,625 16,000,000 SALES $37,901,500 16,000,000 PUBLIC COMPANY COMPARABLE: EBITDA $279,751,875 16,000,000 SALES $104,229,125 16,000,000 Per Share 0.44 1.10 2.24 2.37 17.48 6.51...
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This note was uploaded on 03/17/2011 for the course MANEC 453 taught by Professor Jerrynelson during the Fall '10 term at BYU.

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2009 Valuation analysis - $7,008,084 16,000,000...

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