di-0451-e

92 67503 68704 70000 71400 72828 ke e 1104529 1042

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Unformatted text preview: 0.33% 4,808.13 1.083193 10.33% 4,904.29 1.083193 10.33% 5,002.37 WACC WACCBT E+D 8.995% 9.759% 5,499.27 9.035% 9.765% 5,750.92 9.096% 9.777% 6,163.51 9.112% 9.778% 6,308.12 9.112% 9.778% 6,434.29 9.112% 9.778% 6,562.97 93.10 258.59 265.89 275.82 281.34 EP 142.91 308.94 313.48 323.16 329.62 ECF\\Ku 148.28 12.50 321.74 384.65 392.34 FCF\\Ku 298.28 162.50 471.74 504.65 514.74 ECF\\RF FCF\\RF -11.69 78.31 -157.54 -67.54 135.20 225.20 192.33 252.33 196.17 257.37 ßL EVA 10 - IESE Business School-University of Navarra Table 8 Valuation of Toro Inc. According to Miles and Ezzell 0 1 2 3 4 5 508.13 516.16 525.00 534.72 545.42 556.33 Ke E 1.190077 10.76% 3,843.5 1.178530 10.71% 4,092.1 1.162292 10.65% 4,501.5 1.157351 10.63% 4,642.8 1.157351 10.63% 4,735.7 1.157351 10.63% 4,830.4 WACC WACCBT E+D 9.199% 9.985% 5,343.48 9.235% 9.986% 5,592.05 9.287% 9.987% 6,001.48 9.304% 9.987% 6,142.85 9.304% 9.987% 6,265.70 9.304% 9.987% 6,391.02 VTS = PV[Ku; T D Kd] (1+Ku)/(1+Kd) ßL EVA 89.01 254.53 261.36 271.17 276.60 EP 141.20 307.22 310.88 320.40 326.80 ECF\\Ku FCF\\Ku 135.78 285.78 -0.22 149.78 308.78 458.78 371.43 491.43 378.86 501.26 ECF\\RF FCF\\RF -17.96 72.04 -163.90 -73.90 128.72 218.72 185.71 245.71 189.43 250.63 Table 9 Valuation of Toro Inc. According to Miller 0 1 2 3 4 0 0 0 0 0 0 Ke E = Vu 1.539673 12.16% 3,335.35 1.503371 12.01% 3,575.89 1.452662 11.81% 3,976.48 1.438156 11.75% 4,108.13 1.438156 11.75% 4,190.29 1.438156 11.75% 4,274.09 WACC= Ku WACCBT E+D 10.000% 10.869% 4,835.35 10.000% 10.827% 5,075.89 10.000% 10.767% 5,476.48 10.000% 10.749% 5,608.13 10.000% 10.749% 5,720.29 10.000% 10.749% 5,834.69 VTS = 0 ßL EVA 5 73.00 239.00 244.50 254.25 259.34 EP 134.21 300.33 300.84 309.95 316.15 ECF\\Ku FCF\\Ku 93.00 243.00 -43.00 107.00 266.00 416.00 328.65 448.65 335.22 457.62 ECF\\RF FCF\\RF -40.41 49.59 -186.04 -96.04 106.94 196.94 164.33 224.33 167.61 228.81 IESE Business School-University of Navarra - 11 Table 10 Valuation of Toro Inc. According to the With-cost-of-leverag...
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This note was uploaded on 05/10/2013 for the course MBA MBA taught by Professor Mba during the Fall '11 term at ESLSCA.

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