Valuation Maximizing Corporate Value phần 8 doc

... 1 08 156 204 ■ Parts 500 530 567 612 6 68 7 28 ■ New Devices 0 20 60 100 140 180 Operating Profit Margin % 10.0 10.2 10.5 10.7 10 .8 10 .8 ■ Existing Designs 8. 0 8. 5 9.0 9.5 9.5 9.5 ■ New Designs 8. 5 ... Operating Profit 82 .0 111.0 132.0 156.0 176.0 Less: Taxes 32 .8 44.4 52 .8 62.4 70.4 Incremental Working Capital Investment 3.1 4.4 5.0 5.4 5.6 Incremental Fixed Capital Inv...

Ngày tải lên: 14/08/2014, 05:21

... 13 38. 2 Operating Profit 106.0 112.4 119.1 126.3 133 .8 Cash Flow from Operations 59.4 63.0 66.7 70 .8 75.0 Discount Factor 0 .87 72 0.7695 0.6750 0.5921 0.5194 Present Worth of Cash Flow 52.1 48. 5 ... value of the cash flows, a total valuation of the operating cash flow potential of the organization can be calculated. In the ABC Company example, this total value is equal to $524....

Ngày tải lên: 14/08/2014, 05:21

... 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 leade...

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... 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 67 .88 182 .83 124 FORMULATE SOUND STRATEGIES EXHIBIT 5.5 ABC Company ... 126.00 Less: Taxes 40 .80 45.60 50.40 Increased Fixed Capital Investment 5.40 2.54 2.70 Increased Working Capital Investment 2 .80 3.91 5.02 Cash Flow from Operations 53.00 61.95 67 .88 a...

Ngày tải lên: 14/08/2014, 05:21

... your disposal and is the first step toward setting sound business goals and maximizing your organization’s strategic value in the future. It is important to remember that it is impossible for ... understanding of the role they play in the overall success of the organization. You also now have a document that can be used to measure how effectively your management information system (manual...

Ngày tải lên: 14/08/2014, 09:21

... result in a plethora of students will- ing to conduct the survey as well as assist in the question- 68 ASSESS STRATEGIC LANDSCAPE

Ngày tải lên: 14/08/2014, 09:21

... the upcoming five years (Years 1 through 5). Additionally, hiring costs in Year 1 will make this value five, not four. The second strategy is to double university research grants. These grants ... zero. Furthermore, notice that the total operating profit mar- gin in Year 0 is 10%, the average of 8% on instruments compatible with existing airplane designs and 12% on parts. The actual operat...

Ngày tải lên: 14/08/2014, 09:21

... Drivers 35 Determine Cost of Capital 40 Calculate Current Organization Value 43 Summary 48 Endnotes 48 Valuation Maximizing Corporate Value GEORGE M. NORTON III John Wiley & Sons, Inc. acknowledgments I want ... George M. Valuation : maximizing corporate value / George M. Norton III. p. cm. Includes index. ISBN Bookz 0-471- 386 54-5 (cloth : alk. paper) I. Management....

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 ... Net Assets (%) Unit A 41.4 15 .8 Unit B 33.3 18. 3 Unit C 0.3 26.9 Geographical Area Segmentation North 23.1 8. 1 South 30.6 35.2 East 40.9 26.2 West 6 .8 24.9 Canada 28. 6 22.1 ....

Ngày tải lên: 14/08/2014, 05:21

... 46 48 Increase 1 2 2 1 2 Increase as % of Sales Increase 2 4 4 2 4 3 Net Fixed Capital 80 81 83 86 87 90 Increase 1 2 3 1 3 Increase as % of Sales Increase 2 4 6 2 6 4 a Taxes as a percent ... 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 1 2 2 1 2 Increas...

Ngày tải lên: 14/08/2014, 05:21