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BA103-F04-class20-apv(6slides)

BA103-F04-class20-apv(6slides) - Todays plan Adjusted...

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1 class #20 page 1 Adjusted Present Value (APV) class #20 class #20 page 2 Today’s plan Really understand this capital structure stuff Learn a second way to value a firm (APV) we have talked about WACC already Next class we will compare WACC, APV and multiples class #20 page 3 Office hours For the remainder of the semester, I really want to help students learn the material You may come to office hours at any of the following times (still in room F494): Tuesdays: 12:45 - 1:45pm Wednesdays: 9:30 - 10:30am class #20 page 4 Excel workbook There is an excel workbook on Catalyst under “Handouts” It uses the same numbers as the example in class today class #20 page 5 Let’s think about a company What is a company ? Let’s think about a factory that makes blue ball point pens The factory (hopefully) turns out profits every year class #20 page 6 Let’s think about a company (2) The company’s assets were initially paid for by investors (providers of capital) These providers of capital expect a return on their investment there can be debt holders there can be equity holders
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