company evaluation excel work

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ohuuwx

Business Finance

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hi pls read instruction carefully before you start the work.

In this work, you have to make company valuation about Ebay. you need to use excel to do all the work , i provide the instruction in the file, and there is an example in the instruction.

The starting year about the Ebay data input should be 2016. and you have to do forecast for the next 5 years

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I/S 20,676 21.296 (103) 12/26/15 41,972 Revenue 55,355 (D) Cost of Revenue 20,676 (D) 55,355 -41,972 = Gross Profit (GP) 34,679 (D) 13,383 Operating Expense 21,296 Vs = Operating Income (also EBITDA) (EBIT) 14,002 (D) 14,002 EBIT (same as EBITDA) (EBIT) 14,212 (D) Interest Expense 0 (D) ЕВТ 14,212 (D) Income Tax 2,792 (D) NI from Continuing Operations 11,735 (D) ਲਸ ਨੇ 273/179B Valuation Project Steps: 1. Input historical financial statements (I/S and B/S) - 1 year past 2. Calculate ratios for last year (historically) 3. Forecast Sales for the next 5 years 4. Forecast ratios for next 5 years (same as last year?) 5. Calculate other metrics (ROE, gi, gs) 6. Specify horizon (H) and terminal growth rate (g). 7. Forecast/ calculate I/S and B/S for 5 years forward (Structural Forcasting). 8. Forecast Calculate Cash Flows. (D and RI) 9 Value company a. RI b. DCF (a & b are equai) 10. Compare calculated prices with market price 11. Discuss Differences Inputs: 1 year Historical I/S and B/S 5 Year Sales Forecast CAPM Inputs (B, rf, rm) Calculations, excel; eval Economic Inputs: interest rate, tax rate, depreciation rate. 2. Intrinsic Valuation . a. Inputs 1. Sales Forecast a. Annual Sales - through H (SI...SH) b. Horizon C. & (Sustainable Growth) 2. Financial Ratios: i. Turnover (Asset) ii. Margin (Profit) Dupont Model iii. Leverage iv. Tax rate V. Interest Rate vi. Depreciation Rate B/S Total Assets 103,065 (D) Total Current Assets 40,356 (D) Long-Term Assets 62,705 (D) (10365-40,356) Total Current Liabilities (including A/P) 15,667 (D) Long-Term Liabilities 25,416 Total Stock Holder Equity 09/20/16 BUSI 179B F.J.Jones 61,982 [61,085 (D) + 897 (D)] 45,820 (61,085 + 11,332 +3,933) (E + Goodwill - Intangible Assets) Net Tangible Assets D denotes data from I/S and B/S Balance of B/S A= L+E + STL 15,667 LTL 25,416 E 61,982 VS. 103,085 A = 103,085 So Gap = 0
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