Principles of Private Firm Valuation phần 1 doc
Principles of Private Firm Valuation phần 1 doc
... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prior to a private firm being transacted, the majority of private firm ... Valuation is CPAs, valuation analysts, and CFOs of private firms. Many of the valuation issues these groups deal with are uniquely related to accurately measuring th...
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Principles of Private Firm Valuation phần 5 docx
... 1. 3053435 10 b 1. 410 0 10 b 1. 710 0 10 b $ 41, 913 ,488.23 10 b 1. 212 766 10 b 1. 07633588 11 1. 3053435 11 1. 4239 11 1. 7347 11 $ 31, 900,000.00 11 1. 218 278 11 1. 08693956 12 1. 32 419 45 12 1. 4378 12 1. 7594 12 $ 21, 900,000.00 ... $ 21, 900,000.00 12 1. 223683 12 1. 09754323 13 1. 3430455 13 1. 4 517 13 1. 78 41 13 $11 ,900,000.00 13 1. 2289...
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Principles of Private Firm Valuation phần 8 docx
... 0 .10 5 RATL 1. 448 12 /6/02 60 5.8 5.8 2.9666 910 3 0. 014 5 1 5. 01 0.863 EXEC 0. 413 1/ 6/99 60 11 11 0 .11 17 412 4 0.04 51 1 0.76 0.069 KSTN 0.363 5 /17 /00 60 17 .75 17 .75 0.26845225 0.0633 1 2.43 0 .13 7 OK 0.346 11 /20/00 ... 0.0 61 LUSA 0. 711 5 /17 /99 60 12 .12 5 12 .12 5 0.3427 218 3 0.0485 1 1. 91 0 .15 8 NRC 0 .17 0 2 /16 /99 60 47.625 47.625 0 .15 963353 0....
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Principles of Private Firm Valuation phần 1 pptx
... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prior to a private firm being transacted, the majority of private firm ... in 4 PRINCIPLES OF PRIVATE FIRM VALUATION 12 249_Feldman_4p_c 01. r.qxd 2/9/05 9:45 AM Page 4 v Preface vii CHAPTER 1 The Value of Fair Market Value 1 CHAPTER 2...
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Principles of Private Firm Valuation phần 2 docx
... multiple well in excess 18 PRINCIPLES OF PRIVATE FIRM VALUATION 12 249_Feldman_4p_c02.r.qxd 2/9/05 9:46 AM Page 18 value of a comparable private firm. That is, equity shares of public firms are more liquid ... helpful. Suppose Firms A and B have after-tax earnings of $10 0 in perpetuity and each has a cost of capital of 10 percent. The value of each firm is the...
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Principles of Private Firm Valuation phần 2 pptx
... value of Firms A and T would equal $11 5 (stand-alone Firm A value of $10 0 + stand-alone Firm T value of $50 + $25 synergy value − $60 Firm T cost = $11 5). Firm A is willing to pay a premium for Firm ... the value of these additional activities is 14 PRINCIPLES OF PRIVATE FIRM VALUATION 12 249_Feldman_4p_c02.r.qxd 2/9/05 9:46 AM Page 14 9 Creating and Measuri...
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Principles of Private Firm Valuation phần 3 ppt
... Restructuring of Frier Manufacturing 35 0 20 40 60 80 10 0 12 0 14 0 16 0 Index (1/ 98 = 10 0) Russell 500 Peer portfolio Frier 7 /1/ 98 1/ 1/99 7 /1/ 99 1/ 1/00 7 /1/ 00 7 /1/ 01 1 /1/ 02 7 /1/ 02 1/ 1/ 01 1 /1/ 98 FIGURE ... equiva- lent to common stock prices of public firms. Hence, Fox reasoned, and the 34 PRINCIPLES OF PRIVATE FIRM VALUATION Components Sales = $15...
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Principles of Private Firm Valuation phần 4 pdf
... $442 ,11 1 $488,554 $565 ,18 5 $623,936 $662, 711 $696,962 Net fixed capital $1, 613 ,10 5 $1, 726,022 $1, 846,844 $1, 976 ,12 3 $2 ,11 4,452 $2 ,17 7,885 $2,243,222 Net capital expenditure $11 2, 917 $12 0,822 $12 9,279 ... $22,320 Tax burden $256,347 $3 31, 9 41 $362,903 $ 413 ,990 $453 ,15 7 $479,007 $5 01, 842 NOPAT $384,5 21 $442 ,11 1 $488,554 $565 ,18 5 $623,935 $662, 711 $696,962 Gr...
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Principles of Private Firm Valuation phần 6 potx
... 89 A3/A− 6.4 50 65 70 80 90 96 11 6 Baa1/BBB+ 6.25 60 75 90 10 0 10 5 11 4 13 5 Baa2/BBB 5.85 75 90 10 5 11 5 12 0 12 9 15 5 Baa3/BBB− 5.65 85 10 0 11 5 12 5 13 3 13 9 17 5 Ba1/BB+ 5.25 300 300 275 250 275 225 ... 2.52 ‡ 0 .17 25 0.56 † −7 0.0079 2 .15 ‡ 0 .18 04 0.52 −6 0.0079 2.06 ‡ 0 .18 83 0. 51 −5 −0.0 018 −0.62 0 .18 65 0.42 −4 0.006 1. 7 0 .19 25 0.54* −3 0.0003 0.3...
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Principles of Private Firm Valuation phần 7 ppsx
... Value of Control 10 9 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 19 84 /1 1984/2 19 85 /1 1985/2 19 86 /1 1986/2 19 87 /1 1987/2 19 88 /1 1988/2 19 89 /1 1989/2 19 90 /1 1990/2 19 91/ 1 19 91/ 2 19 92 /1 1992/2 19 93 /1 1993/2 19 94 /1 1994/2 19 95 /1 1995/2 Semiannual Median ... 417 ) (n = 654) (n = 633) (n = 349) Mean acquirer q 1. 47 1. 04 1. 05 1. 57 1. 01 1 .15 (...
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