07 9698 10738 2597 2818 3083 3394 3758 4823 5234 5725 6304 6980 4900 5500 6100

07 9698 10738 2597 2818 3083 3394 3758 4823 5234 5725

This preview shows page 11 - 13 out of 13 pages.

88.07 $ 96.98 $ 107.38 $ (25.97) $ (28.18) $ (30.83) $ (33.94) $ (37.58) $ 48.23 $ 52.34 $ 57.25 $ 63.04 $ 69.80 $ 49.00 $ 55.00 $ 61.00 $ 67.00 $ 73.00 $ (60.00) $ (60.00) $ (60.00) $ (60.00) $ (60.00) $ 37.23 $ 47.34 $ 58.25 $ 70.04 $ 82.80 $ 411.00 $ 411.17 $ 401.25 $ 379.52 $ 344.02 $ 292.53 $ - $ 411.00 $(411.00)
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Table 8-1 - PMG Foods, Inc., Acquisition Data ($ millions) Corporate tax rate 35% Interest cost (planning) 14% Interest cost (post-planning) 9% Unlevered Beta 1.19 Risk free rate 5.00% Market equity risk premium 5.50% INTITIAL EBITDA $123.20 EBITDA GROWTH 10.0% CAPEX $ 60.00 Company sale (harvest) multiple 6 Unlevered Cost of Equity 11.56% EBITDA Less: Depreciation EBIT Less: Taxes NOPAT Plus : Depreciation Less: CAPEX FFCF PV Planning Period Interest Expense Interest Tax Savings PV Tax Savings Terminal value Outstanding Loan Enterprise Value PV(Enterprise Value) Enterprise Value (Year 0) Debt (Year 0) Equity Value (Year 0)
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Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 $ 123.20 $ 135.52 $ 149.07 $ 163.98 $ 180.38 $ (49.00) $ (55.00) $ (61.00) $ (67.00) $ (73.00) $ 74.20 $ 80.52 $ 88.07 $ 96.98 $ 107.38 $ (25.97) $ (28.18) $ (30.83) $ (33.94) $ (37.58) $ 48.23 $ 52.34 $ 57.25 $ 63.04 $ 69.80 $ 49.00 $ 55.00 $ 61.00 $ 67.00 $ 73.00 $ (60.00) $ (60.00) $ (60.00) $ (60.00) $ (60.00) $ 37.23 $ 47.34 $ 58.25 $ 70.04 $ 82.80 $ 206.48 $ 57.54 $ 57.56 $ 56.17 $ 53.13 $ 48.16 $ 20.14 $ 20.15 $ 19.66 $ 18.60 $ 16.86 $ 66.20 $ - $ - $ - $ - $ 789.74 $ 411.00 $ 411.17 $ 401.25 $ 379.52 $ 344.02 $ 292.53 $1,082.26 $ 626.28 $ 898.97 $ 411.00 $ 487.97 3629678 GOAL SEEK CELL
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