Chat with us, powered by LiveChat Get to know your company, the business lines, owners2) Using the excel template we created in class, forecast the next 10 years of the company. Change the assumptions as you wish. Make them - NursingEssays

Get to know your company, the business lines, owners2) Using the excel template we created in class, forecast the next 10 years of the company. Change the assumptions as you wish. Make them

INSTRUCTIONS

  1. Valuation homework is 20 points.  Get to know your company, the business lines, owners2) Using the excel template we created in class, forecast the next 10 years of the company. Change the assumptions as you wish. Make them more appropriate to your company’s past and your personal belief as to what would happen in the future. Clearly state your new assumptions.3) Provide a table of your assumptions and resulting FCFs.4) Provide a DCF analysis including your WACC assumptions.5) Provide a sensitivity analysis table. Choose variables that have changed more than others in the past. Make sure to provide both upsides and downsides.6) Using PE of 8 and EV/EBITDA of 6 as peer multiples, perform a peer multiple valuation.7) Using subjective weights combine DCF and peer analyses and reach to a 12 month target price.8) Conclude your valuation and provide a recommendation.
    Since you will not have the chance to talk to company management and ask questions, and you have limited time, please do not lose time in trying to forecast the future with great accuracy. The only thing I want is consistency.  (e.g. lots of growth with no capex is inconsistent)

Data

Security mpark
Method AnnouncedCalculatedRestatedFormulated MCAP 36,739 (TL mn)
Coefficient 1000000
Template XI_29
Currency local
2014/YE 2015/YE 2016/YE 2017/YE 2018/YE 2019/YE 2020/YE 2021/YE 2022/YE 2023/YE
REFERENCE
Template XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29
End of Period 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023
Document Reports Reports Reports Reports Reports Reports Reports Reports Reports Reports
Announcement Date 25.1.2018 25.1.2018 6.3.2018 7.3.2019 5.3.2020 8.3.2021 8.3.2022 8.3.2023 45370 45370
Income Statement FX Rate
Balance Sheet FX Rate
Cash Flow FX Rate
INCOME STATEMENT
Net Sales 1,518.03 1,843.39 2,160.07 2,576.08 3,131.56 3,703.60 4,014.68 5,795.95 18,902.87 22,449.35
Cost Of Sales -1,240.17 -1,562.35 -1,853.76 -2,170.59 -2,644.05 -2,851.76 -3,058.18 -4,216.99 -14,015.54 -16,018.96
Gross Profit (Loss) from Trade Operations 277.86 281.04 306.31 405.49 487.51 851.84 956.50 1,578.96 4,887.34 6,430.38
Proceeds from Interest, Fee, Premium, Commission and Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses from Interest, Fee, Premium, Commission and Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gross Profit (Loss) from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
GROSS PROFIT (LOSS) 277.86 281.04 306.31 405.49 487.51 851.84 956.50 1,578.96 4,887.34 6,430.38
Marketing Selling & Distrib. Expenses (-) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
General Administrative Expenses (-) -157.43 -173.64 -126.61 -215.15 -271.03 -308.58 -266.01 -561.47 -1,869.45 -2,188.94
Research & Development Expenses (-) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income from Other Operations 207.64 111.48 198.45 380.08 598.90 333.47 560.56 544.25 897.87 953.19
Expenses from Other Operations (-) -84.20 -104.55 -168.53 -357.68 -515.11 -353.80 -497.44 -546.21 -940.61 -822.95
OPERATING PROFITS 243.87 114.33 209.63 212.74 300.27 522.93 753.61 1,015.53 2,975.15 4,371.69
Income from Investment Activities 1.29 4.20 1.84 1.00 1.61 132.38 118.58 9.89 999.94 78.13
Expenses from Investment Activities (-) -2.50 -1.73 -2.41 -1.19 -0.43 -1.53 -2.45 -1.04 -176.70 -10.72
Profit (Loss) from Subsidiaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operations Profit / Loss before Financial Expenses 242.66 116.79 209.06 212.54 301.46 653.78 869.73 1,024.37 3,798.39 4,439.09
Financial Income (from Other Operations) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 156.44 243.89
Financial Expenses (from Other Operations) (-) -127.59 -194.05 -271.39 -383.29 -463.85 -571.66 -684.22 -652.49 825.74 1,141.96
PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 115.06 -77.26 -62.32 -170.75 -162.40 82.12 185.51 371.89 4,780.56 5,824.94
Taxation on Continuing Operations 11.91 34.64 13.61 37.97 58.72 -25.87 -62.51 -16.68 110.88 -1,077.01
Taxation on Income (Expenses) -9.72 -11.97 -5.42 -11.57 -14.28 -20.05 -34.12 -82.33 -106.01 -534.58
Income (Expenses) of Deferred Tax 21.63 46.61 19.03 49.54 73.00 -5.82 -28.40 65.65 216.89 -542.43
PROFIT FROM CONTINUING OPERATIONS 126.97 -42.62 -48.71 -132.78 -103.68 56.25 123.00 355.21 4,891.44 4,747.93
Profit After Taxes from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET PROFIT AFTER TAXES 126.97 -42.62 -48.71 -132.78 -103.68 56.25 123.00 355.21 4,891.44 4,747.93
Not to be Reclassified on Profit and Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Actuarial Profit/(Loss) on Retirement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tax Effect 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Revaluation of Financial Fixed Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
To be Reclassified as Profit or Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Subsidiaries Hedge against Cash Flow Risk ( Net ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gains (losses) on cash flow hedges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Tax Effects due to Financial Hedge Instruments against Cash Flow Risk 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FX Conversion Differences 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
OTHER COMPREHENSIVE INCOME ( AFTER TAX ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COMPREHENSIVE INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Distrubition of Profit (Loss)
Parent Shares 124.01 -47.45 -44.52 -122.77 -127.65 36.25 64.93 290.42 4,741.60 4,529.59
Minority Interests 2.96 4.83 -4.19 -10.01 23.97 20.00 58.07 64.79 149.85 218.34
Distribution of Total Comprehensive Income
Parent Shares (Total Comprehensive Income) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Minority Interests (Total Comprehensive Income) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share 0.00 0.00 0.00 -0.70 0.00 0.00 0.00 0.00 0.00 0.00
Earnings per Share from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share from Continued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings per Share 0.73 -0.27 -0.25 0.00 -0.62 0.00 0.00 0.00 0.00 0.00
Earnings per Share from Continuing Operations 0.00 0.00 0.00 0.00 0.00 0.17 0.31 0.00 0.00 0.00
NET PROFIT/LOSS AFTER TAXES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
BALANCE SHEET
ASSETS
CURRENT ASSETS 798.00 901.16 1,015.71 1,161.18 1,478.59 1,721.98 2,185.28 2,741.33 6,964.56 8,459.55
Cash and Cash Equivalents 213.22 92.09 110.68 217.85 22

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