Enterprise Value / Revenue: 2.7 x 2.4 x 2.2 x 2.1 x 2.1 x Enterprise Value / EBITDA: 13.3 x 12.0 x 11.2 x 10.6 x 10.3 x Enterprise Value / EBIT: 16.6 x 15.1 x 13.9 x 13.3 x 12.9 x Equity Value / Net Income (P / E): 30.6 x 27.8 x 25.8 x 24.6 x 23.8 x Enterprise Value / FCFF: 22.1 x 20.1 x 18.6 x 17.7 x 17.2 x Equity Value / FCFE: 25.5 x 23.2 x 21.5 x 20.5 x 19.9 x Equity Value vs. Enterprise Value Model - Advanced
Equity Value & Enterprise Value Calculations
($ in Figures As Stated)
Equity Value Calculations: Diluted Shares Calculations:
Share Price: $ 100.00 Basic Shares Outstanding: 10,000 Exercise or Dollar Par Conversion Basic Equity Value: $ 1,000,000 Security Name: Amount: Value: Number: Price: Dilution: Options: N /A N /A 500 $ 50.00 250 Diluted Shares Outstanding: 13,275 Convertible Bonds: $ 100,000 $ 1,000.00 100 $ 50.00 2,000 Diluted Equity Value: $ 1,327,500 Convertible Preferred: $ 50,000 $ 1,000.00 50 $ 80.00 625 RSUs: N /A N /A 200 N /A 200 Enterprise Value Calculations: Performance Shares: N /A N /A 200 $ 75.00 200 Diluted Equity Value: $ 1,327,500 Total Dilution: 3,275 Less: Cash & Cash-Equivalents: (50,000) Less: Equity Investments: (10,000) Less: Value of NOLs: (5,000) Plus: Debt: 100,000 Plus: Convertible Bonds: - Plus: Convertible Preferred Stock: - Plus: Noncontrolling Interests: 30,000 Plus: Preferred Stock 20,000 Plus: Unfunded Pension Obligations: 50,000 Plus: Capital Leases: 35,000 Plus: Restructuring Liabilities: 10,000 Enterprise Value: $ 1,507,500
Enterprise Value / Revenue: 3.0 x 2.7 x 2.5 x 2.4 x 2.3 x Enterprise Value / EBITDA: 15.1 x 13.7 x 12.7 x 12.1 x 11.7 x Enterprise Value / EBIT: 18.8 x 17.1 x 15.9 x 15.1 x 14.7 x Equity Value / Net Income (P / E): 33.2 x 30.2 x 27.9 x 26.6 x 25.8 x Enterprise Value / FCFF: 25.1 x 22.8 x 21.1 x 20.1 x 19.6 x Equity Value / FCFE: 27.7 x 25.1 x 23.3 x 22.2 x 21.5 x