Analyst Listing
The following analysts provide coverage for the subject firm as of May 2016:
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Primary Input Data
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Derived Input Data
Derived Input
|
Label
|
2015 Value
|
2016
Value
|
Equational Form
|
Net Operating Profit Less Adjusted Taxes |
NOPLAT |
2,260 |
1,830 |
|
Free Cash Flow |
FCF |
3,313 |
3,680 |
|
Tax Shield |
TS |
99 |
94 |
|
Invested Capital |
IC |
34,953 |
37,791 |
|
Return on Invested Capital |
ROIC |
6.47% |
4.84% |
|
Net Investment |
NetInv |
(3,378) |
2,838 |
|
Investment Rate |
IR |
-149.47% |
155.05% |
|
Weighted Average Cost of Capital
|
WACCMarket |
8.62% |
8.85% |
|
WACCBook |
7.05% |
6.70% |
|
Enterprise value
|
EVMarket |
29,273 |
34,105 |
|
EVBook |
28,285 |
33,039 |
|
Long-Run Growth
|
g = IR x ROIC
|
-9.66% |
7.51% |
Long-run growth rates of the income variable are used in the Continuing Value portion of the valuation models. |
g = % GDP |
2.50% |
2.50% |
|
Margin from Operations |
M |
9.79% |
7.76% |
|
Depreciation/Amortization Rate |
D |
0.00% |
0.00% |
|
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Valuation Multiple Outcomes
The outcomes presented in this study are the result of original input data, derived data, and synthesized inputs.
Equational Form
|
Observed Value
|
Single-stage
multiple g solution
|
Two-stage valuation
model g solution
|
12/31/2015 |
12/31/2016 |
12/31/2015 |
12/31/2016 |
12/31/2015 |
12/31/2016 |
EV/SALES
|
.82 |
.94 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
EV/EBITDA
|
8.42 |
12.11 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
EV/NOPLAT
|
12.95 |
18.63 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
EV/FCFOPS
|
8.84 |
9.27 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
EV/EBIT
|
8.42 |
12.11 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
EV/IC
|
.84 |
.90 |
-4.66% |
-32.24% |
-3.22% |
66.69% |
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