Firm Valuation Project Wal-mart (WMT) The purpose of this report is to find the intrinsic value of a company. We choose Wal-Mart Stores for our analysis. FCF calculation First‚ we retrieved the financial statements of the company for the last five years (2005-2010) from www.sec.gov website. Based on this information‚ we calculated the Average annual growth rate for Wal-mart to be 9.27% and the Compound annual growth rate to be 9.26%. Then we found the projected sales for 2010 to be
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UGBA 103 Fixed Income Valuation 1A) YTM is 4.75% at time of issuance. YTM is 4.88% at 99 per 100. YTM is 4.62% at 101 per 100. 1B) NTT should have been selling at $915.861M PVpredrop = (47.5/.0475)*(1-(1/((1.0475)^2))) = 88.636M PVpostdrop = ((30/.03)*(1-(1/((1.03)^2))))/(1.03^2) = 198.502M PVfacevalue = 1B/(1.0475)^10 = 628.723M PVpredrop + PVpostdrop + PVfacevalue = 915.861M 2A) Bond A should sell at $1040.55 each. Bond B should sell at $1000 each. Bond C should sell
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The mind of a criminal reveals a lot of different factors as to why someone decides to become a criminal. Because of these different factors‚ it makes it hard to understand the criminal. In the novel‚ Crime and Punishment‚ Fyodor Dostoevsky expertly develops the main character by showing his thoughts throughout the novel and his reactions to each situation. Throughout this crime novel‚ the main character‚ Raskolnikov‚ had to deal with both external and internal conflict from being a murderer. There
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This report is constructed as follows: section I introduces the selected firm briefly; section II and III gives projected income statement and balance sheet; section IV demonstrates how we calculate FCF‚ followed by firm value estimation; section V provides a sensitivity analysis of firm value to sales growth rate‚ FCF growth rate in second stage and WACC. I Company Profiles Johnson & Johnson is a U.S. multinational medical devices‚ pharmaceutical and consumer packaged goods manufacturer founded
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New Security Valuation Report ConocoPhillips Co. Brief Introduction 2012 ConocoPhillips (COP) becomes a newly independent company focused solely on core business of exploration and production. It completed reposition of separation of Phillips66 on April 30th‚ becoming the world’s largest E&P company based on production and proved reserves. Business Overview Investor composition The main ownership breakdown chart (exhibit1) shows that institutional stock and mutual fund ownership is
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AC 3115: Financial Statement Analysis and Valuation Executive Summary The objective of this report is to compare and contrast two companies in the airline industry with respect to strategic‚ accounting and financial analysis. We will develop a detailed forecasting model on which we will base our valuation of the companies. Other issues which arise will also be discussed in detail. Ultimately we will decide on whether to put a buy or sell recommendation on the shares of
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In the world of literature‚ various authors often utilize an assortment of unique writing tools to develop a strong relationship between him/herself and the reader. This relationship between author and audience is the most important that an author must consider when writing his/her literature. Especially true in detective fiction‚ authors are frequently searching for matchless ways to keep their audience involved and searching for the next piece of evidence. This is particularly the case when dealing
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PRACTICUM REPORT ON MANILA INTERNATIONAL AIRPORT AUTHORITY (MIAA) MIAA ROAD PASAY CITY‚ MANILA Lyceum of the Philippines University College of International Tourism and Management Intramuros‚ Manila Submitted to: Ms. Princess Berba Practicum Adviser Submitted by: Rachel Claudine A. Serrano 576 A San Andres Street Malate‚ Manila Submitted On: I. INTRODUCTION In order to address the continuing increase in the number of air passengers‚ the Manila International Airport Authority
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Perhaps the greatest challenge faced by teenagers as they experience the social challenge of school is the pressure to conform or submit and the associated threat of separation and alienation from ‘the group.’ While some who suffer such alienation get lost in a dark world of low self-esteem‚ anti-social behaviour and intergroup conflict - others choose a path of reconciliation. They choose to see the positive possibilities of an us-oriented life and refuse to play the them-dominated role of the
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accting for contingencies Additional minimum pension liability Tax benefits of loss carry-forwards acquires Tax benefits of dividends paid to ESOPs Unrealized gains and losses on equity securities avail. For sale Some adjustments of deferred tax valuation allowances funding status of pension plans Financing inc (or exp) items Preferred dividends Unrealized gains on losses on debt securities avail. For sale Operating or Financing inc items F.C. translation gains (losses) Gains(losses) on derivative
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