【SID:310316707 Name: Min Ouyang】 Rocky Mountain Advanced Genome Inc. Case Analysis Report Question 1: Forecast Horizon and Free Cash Flow Projections 1 Forecast Horizon In order to derive the forecast horizon‚ an approach of product-life cycle is used to evaluate the reasonable forecast horizon. Proper forecast horizon need to extend into the future in which the firm is under a steady-state‚ slow-growth or no-growth condition. By that time‚ the firm step into the maturity and decline period
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VALUATION OF SAS PROGRAM: FINANCE AND STRATEGIC MANAGEMENT FSM COPENHAGEN BUSINESS SCHOOL AUGUST 2010 NUMBER OF STANDARD PAGES: 117 NUMBER OF CHARACTERS: 264.684 AUTHORS: RASMUS STOUMANN JENSEN LARS PFEIFFER PETERSEN SUPERVISOR: CARSTEN KYHNAUV‚ EXTERNAL Valuation of SAS Executive Summary The aim of the thesis was to determine the fair value of the SAS stock as of June 11th 2010. SAS has received much attention in the media recently partly due to the poor financial performance in the
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THE TIMKEN COMPANY In 2002‚ The Timken Company was considering acquiring The Torrington Company from Ingersoll-Rand. The acquisition would make a clear statement to the market about Timken’s commitment to remain a worldwide leader in the bearing industry as it would result in the combination of more than 100 years of bearing manufacturing and development experience. Because the two companies shared many of the same customers but had few products in common‚ customers would surely appreciate the
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AES - Case Analysis & Write up How would you evaluate the capital budgeting method used historically by AES? What is good and bad about it? Previously‚ the economics of a given project were evaluated at an equity discount rate for the dividends from any project and as it was mostly financed through local debt‚ which was non-recourse to the parent company‚ AES use to evaluate the dividend cash flows at a standard 12%. It is a simple approach with portions of sound reasoning. One could argue that
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is a note that describes how to apply the Discounted Cash Flow method of Company Valuation in companies undergoing corporate restructuring. The concept is based on the change in shareholders wealth as a direct result of the change in the firm’s value- which depends on multiple factors including corporate restructuring. The note describes in details about the technical aspects of the DCF method. First it defines the DCF as a sum of the PV of all expected future cash flows and how every method identifies
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A Valuation of Carlsberg Master Thesis‚ February 2011 Department of Finance‚ Copenhagen Business School M.Sc. in Financial & Strategic Management/ M.Sc. in Finance & Accounting Pages: 121 Characters Count (with spaces): 209.448 Figures: 76 Characters Count (with spaces) with figures: 270.248 Authors Olivier Don Cato Meelby Sørensen Janus Rudolf ____________ ____________ Counselor Christian Wurtz ______________ page 1 of 151 Executive summary ..............................................
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The Merger of Suncor Energy Inc & Petro Canada Date: November 23‚ 2010 Deal Summary Event | Merger | Bidder | Suncor Energy Inc | Target | Petro-Canada | Announcement Date | March 23‚ 2009 | Effective Date | August 1‚ 2009 | Type | Stock Exchange | Exchange ratio | 1.28 | Stock Price | Petro Canada- C$29.67 and Suncor- C$30.74 (as of March 20‚ 2009) | Premium Paid | 28% (Based on stock price at March 20‚ 2009) | Total Offer | C$18.43 billion | Table of
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INDIAN INSTITUTE OF QUANTITATIVE FINANCE CERTIFICATE PROGRAM IN FINANCIAL MODELLING IN EXCEL CURRICULUM Advanced Excel (2 Days) (A) Excel Features and Techniques 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. Excel Shortcuts Excel formulae Usage of names to make formulas easier Data Sorting Excel formatting Data Formats Lines and Borders Colours and Patterns Excel functions Excel charts Dynamic Graphs Conditional Formatting Linking worksheets Data Validation Controls
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firms’ strategy in navigating the ever changing retail environment‚ before evaluating its’ current valuation. Following which a credit analysis was performed to determine if additional debt could be taken on to fund future strategic goals. With the results of the credit analysis‚ a proposed acquisition deal was structured and finally a final recommendation on what SFG should do was made. For the valuation of SFG‚
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rate ( lower discount factor (lower NPV Investment Decision Rules: 1. accept if positive NPV 2. accept w rate of return > opp cost or hurdle rule PV = C1* [1/(1+r)] = Discount factor * cash flow (calc: usually -PV ) Discount factor (DCF) = 1/(1+r) or PV/FV ** will be < 1 ** NPV = C1 + C1* [1/(1+r)] If PV of $1 received n years from today at an interest rate of r=.270 then what is the future value of $1 invested today at an interest rate of r% for n years? FV = 1/(.270) =
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