- Главная
- Разное
- Дизайн
- Бизнес и предпринимательство
- Аналитика
- Образование
- Развлечения
- Красота и здоровье
- Финансы
- Государство
- Путешествия
- Спорт
- Недвижимость
- Армия
- Графика
- Культурология
- Еда и кулинария
- Лингвистика
- Английский язык
- Астрономия
- Алгебра
- Биология
- География
- Детские презентации
- Информатика
- История
- Литература
- Маркетинг
- Математика
- Медицина
- Менеджмент
- Музыка
- МХК
- Немецкий язык
- ОБЖ
- Обществознание
- Окружающий мир
- Педагогика
- Русский язык
- Технология
- Физика
- Философия
- Химия
- Шаблоны, картинки для презентаций
- Экология
- Экономика
- Юриспруденция
Free Cash Flow Valuation презентация
Содержание
- 1. Free Cash Flow Valuation
- 2. FREE CASH FLOW
- 3. FCFF VS. FCFE APPROACHES TO EQUITY VALUATION
- 4. FCFF VS. FCFE APPROACHES TO EQUITY VALUATION
- 5. SINGLE-STAGE FREE CASH FLOW MODELS
- 6. EXAMPLE: SINGLE-STAGE FCFF MODEL
- 7. EXAMPLE: SINGLE-STAGE FCFF MODEL
- 8. EXAMPLE: SINGLE-STAGE FCFF MODEL
- 9. USING NET INCOME TO DETERMINE FCFF
- 10. OTHER NONCASH ADJUSTMENTS
- 11. USING EBIT AND EBITDA TO DETERMINE FCFF
- 12. USING CASH FLOW FROM OPERATIONS TO DETERMINE FCFF
- 13. CALCULATING FCFE FROM FCFF, NET INCOME,
- 14. FCFE AND FCFF ON A USES-OF-FCF-BASIS
- 15. EXAMPLE: CALCULATING FCFF
- 16. EXAMPLE: CALCULATING FCFF FROM NET INCOME
- 17. EXAMPLE: CALCULATING FCFF FROM EBIT AND EBITDA
- 18. EXAMPLE: CALCULATING FCFF FROM CFO
- 19. EXAMPLE: CALCULATING FCFE FROM FCFF, NET INCOME, AND CFO
- 20. EXAMPLE: CALCULATING FCFE AND FCFF ON A USES BASIS
- 21. FORECASTING FCFF AND FCFE
- 22. EXAMPLE: FORECASTING FCFF AND FCFE
- 23. EXAMPLE: FORECASTING FCFF AND FCFE
- 24. EXAMPLE: FORECASTING FCFF
- 25. EXAMPLE: FORECASTING FCFE
- 26. ISSUES IN FCF ANALYSIS
- 27. SIMPLE TWO-STAGE FCF MODELS
- 28. EXAMPLE: SIMPLE TWO-STAGE FCFE MODEL
- 29. EXAMPLE: SIMPLE TWO-STAGE FCFE MODEL
- 30. EXAMPLE: SIMPLE TWO-STAGE FCFE MODEL
- 31. EXAMPLE: SIMPLE TWO-STAGE FCFE MODEL
- 32. DECLINING GROWTH TWO-STAGE FCFE MODEL
- 33. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 34. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 35. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 36. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 37. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 38. EXAMPLE: DECLINING GROWTH TWO-STAGE FCFE MODEL
- 39. EXAMPLE: THREE-STAGE FCF MODELS
- 40. EXAMPLE: THREE-STAGE FCF MODELS
- 41. EXAMPLE: THREE-STAGE FCF MODELS
- 42. EXAMPLE: THREE-STAGE FCF MODELS
- 43. SUMMARY
- 44. SUMMARY
- 45. SUMMARY
- 46. SUMMARY
FREE CASH FLOW
Слайд 8EXAMPLE: SINGLE-STAGE FCFF MODEL
Equity value = $120.5 million – $30 million
= $90.5 million
Equity value per share = $90.5 million/2.9 million = $31.21
Слайд 13CALCULATING FCFE FROM
FCFF, NET INCOME, AND CFO
FCFE from net income
(NI) and FCFF:
FCFF = NI + NCC + Int(1-Tax rate) – FCInv – WCInv
FCFE = NI = NCC – FCInv – WCInv + Net borrowing
FCFE from CFO and FCFF:
FCFF = CFO + Int(1-Tax rate)- FCInv
FCFE = CFO – FCInv + Net borrowing
FCFF = NI + NCC + Int(1-Tax rate) – FCInv – WCInv
FCFE = NI = NCC – FCInv – WCInv + Net borrowing
FCFE from CFO and FCFF:
FCFF = CFO + Int(1-Tax rate)- FCInv
FCFE = CFO – FCInv + Net borrowing
Слайд 41EXAMPLE: THREE-STAGE FCF MODELS
Note : The above formula shows the present
value of perpetual stream at t = 0
