AFM 472 - Pro-Forma Assignment #4 Answers

Cff section such that 80 of each years fcf is

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Unformatted text preview: nts from above by altering the CFF section such that 80% of each year's FCF is distributed to shareholders starting in 2013: a) half is used to repurchase shares b) half is paid as dividends Assume that the share price in each year is 16x EPS, recalculate the number of shares outstanding each year given the repurchases, and the new EPS and share price Given the amount paid in dividends and the new shares outstanding and price each year, calculate the dividends per share and the dividend yield Income Statement 2013 Currency 22,430.0 22,430.0 22.21% 4,981.0 17,449.0 USD 3.66% 23,252.0 23,252.0 20.62% 4,794.0 18,458.0 USD 15.34% 26,820.0 26,820.0 21.38% 5,735.0 21,085.0 USD 32.82% 35,622.0 35,622.0 23.58% 8,398.0 27,224.0 USD 4.21% 37,121.0 37,121.0 21.17% 7,858.0 29,263.0 5,487.0 12.22% 2,741.0 1,212.0 - 5,423.0 11.90% 2,767.0 1,713.0 - 5,991.0 12.13% 3,254.0 1,973.0 - 7,549.0 12.69% 4,519.0 2,428.0 - 8,253.0 12.18% 4,523.0 2,430.0 - Other Operating Exp., Total 9,440.0 9,903.0 11,218.0 14,496.0 Operating Income 8,009.0 8,555.0 9,867.0 (394.0) (630.0) (754.0) Revenue Other Revenue T otal Revenue USD 14.01% Cost Of Goods Sold Gross Profit 21.79% Selling General & Admin Exp. 14.01% R & D Exp. Depreciation & Amort. Amort. of Goodwill and Intangibles Other Operating Expense/(Income) 12.22% Interest Expense Interest and Invest. Income 337.0 Net Interest Exp. (57.0) 279.0 2019 2020 2021 2022 4 2,321.3 48,250.2 55,009.6 9,222.0 33,099.4 10,513.9 37,736.3 11,986.8 43,022.8 62,716.0 71,501.9 81,518.7 92,938.8 105,958.7 120,802.6 137,726.0 13,666.0 49,050.0 15,580.5 55,921.4 17,763.2 63,755.5 20,251.7 72,687.1 23,088.8 82,870.0 26,323.3 94,479.3 30,011.0 107,715.0 9,409.2 10,727.3 12,230.1 13,943.5 15,896.8 18,123.8 20,662.8 23,557.5 26,857.7 30,620.2 2023 2024 2025 2026 2027 2028 2029 2030 2031 157,020.2 179,017.4 204,096.2 232,688.3 265,285.9 302,450.1 34,215.2 122,805.0 39,008.5 140,008.9 44,473.2 159,622.9 50,703.5 181,984.7 57,806.7 207,479.2 65,904.9 236,545.2 34,909....
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This document was uploaded on 02/05/2014.

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