Valuation Maximizing Corporate Value phần 6 docx

... cooperation. 86 BUILD FRAMEWORK FOUNDATION five, with five being very important. As a start, more broadly defined terms are generally best. This way, the team can more quickly identify the key value ... important to the organization and refine them further as necessary to incorporate into the mission statement. A typical list of broad value areas might include: ■ Teamwork ■ Product lead...

Ngày tải lên: 14/08/2014, 05:21

... from Operations 59.4 63 .0 66 .7 70.8 75.0 Discount Factor 0.8772 0. 769 5 0 .67 50 0.5921 0.5194 Present Worth of Cash Flow 52.1 48.5 45.1 41.9 39.0 Cumulative PW of Cash Flow 52.11 100 .6 145 .6 187.5 2 26. 4 Note: ... CALCULATE CURRENT VALUE EXHIBIT 2.3 Discounted Cash Flows for ABC Company Year 1 Year 2 Year 3 Year 4 Year 5 Revenues 1 060 .0 1123 .6 1191.0 1 262 .5 1338.2 Operat...

Ngày tải lên: 14/08/2014, 05:21

Ngày tải lên: 14/08/2014, 09:21

... George M. Valuation : maximizing corporate value / George M. Norton III. p. cm. Includes index. ISBN Bookz 0-471-3 865 4-5 (cloth : alk. paper) I. Management. 2. Strategic planning. 3. Corporate ... Title. HD30.28.N677 2003 65 8.4'012—dc21 2002011 161 Quantify the Selected Strategies 134 Calculate Revised Case Value 144 Measure Value Enhancement 150 Summary 154 CHAPTER 7...

Ngày tải lên: 14/08/2014, 05:21

... the market value to book Determine Relative Value 19 10 0 1 2 3 4 5 6 7 20 2515 30 35 Return on Equity (%) BETTER WORSE ABC Company Maarket Value/ Book Value EXHIBIT 1.11 Relative Value good source ... this number (e.g., highest area = 60 points, next area = 45 points, third area = 30 points, so highest area = 60 /60 = 100%, next area = 45 /60 = 75%, third area = 30 /60 = 50%). T...

Ngày tải lên: 14/08/2014, 05:21

... 6 Operating Profit 64 77 90 105 120 Operating Profit Margin 8.0 9.1 10.0 11.1 12.0 10 Taxes 26 28 40 44 46 Tax Rate a 40 .6 36. 3 44.4 41.9 38.3 40 Net Working Capital b 40 41 43 45 46 48 Increase ... Organization Value 45 EXHIBIT 2.4 Selected Historical Data for ABC Company Year Year Year Year Year Year Mean –5 –4 –3 –2 –1 0 Revenue 750 800 850 900 950 1000 % Change 6. 7 6. 3 5.9...

Ngày tải lên: 14/08/2014, 05:21

... core values. A more formal approach, often useful after an informal value- story-sharing session, involves prioritizing and rank- ing various values. One way to do this is simply to list value areas ... organization and its environment changes, its fundamental purposes and values will remain intact. The key components of the mission are values and pur- poses. In a rapidly changing world—on...

Ngày tải lên: 14/08/2014, 05:21

... 5 .6 ABC Company Objectives Cash Flow Comparison Total Scenario Year 1 Year 2 Year 3 Cash Flow No Objective 59.40 62 . 96 66. 74 189.10 Objective O.2 52.38 66 .11 74. 46 192.95 Objective O.4 53.00 61 .95 ... 1 06. 00 112. 36 119.10 Less: Taxes 42.40 44.94 47 .64 Increased Fixed Capital Investment 2.40 2.54 2.70 Increased Working Capital Investment 1.80 1.91 2.02 Cash Flow from Oper...

Ngày tải lên: 14/08/2014, 05:21

... Case Value 145 EXHIBIT 6. 6 ABC Company Revised Case Income Statement Year Year Year Year Year Year 012345 Total Revenues a 1000 1104 1249 14 16 1595 1781 ■ Existing Designs 500 530 562 5 96 631 66 9 ■ ... 60 64 ■ New Designs 0 2 5 10 15 19 ■ Parts 60 64 68 73 80 87 ■ New Devices 0 2 7 12 17 22 Less: Total Execution Costs 0 31 20 20 16 16 ■ Existing Designs 0 11 5 4 0 0 ■ New...

Ngày tải lên: 14/08/2014, 05:21

... 597 .6 ■ Revised Case 82.0 111.0 132.0 1 56. 0 1 76. 0 65 7.0 Cash Flow from Operations: ■ Base Case 59.4 63 .0 66 .7 70.8 75.0 334.9 ■ Revised Case 41.9 56. 4 67 .5 81.0 92 .6 329.4 a For the original source ... Operations 41.9 56. 4 67 .5 81.0 92 .6 Discount Factor 0.8772 0. 769 5 0 .67 50 0.5921 0.5194 Present Worth of Cash Flow 36. 8 43.4 45 .6 48.0 48.1 Cumulative Present Wort...

Ngày tải lên: 14/08/2014, 05:21