Unit holder return 5 year

Estimating Share Value Using the DCF Model Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018, for Humana. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. Reported Forecast Horizon Period Terminal $ millions Sales NOPAT NOA 2021 2022 2020 2018 2019 $57,472 $58,326 $59,192 $60,072 $60,964 3,179 3,218 3,140 3,052 3,102 4,844 4,657 4,718 4,781 4,592 Period $61,568 3,244 4,887 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate 1% Discount rate (WACC) 7.8% Common shares outstanding 135.60 million Net nonoperating obligations (NNO) $(5,569) million Noncontrolling interest $0 million NNO is negative because Humana's nonoperating assets exceed its nonoperating liabilities. (a) Estimate the value of a share of Humana's common stock using the…

Estimating Share Value Using the ROPI Model Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018, for Humana. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. Reported Horizon period Terminal millions Sales NOPAT NOA 2018 2019 2020 2021 2022 $56,912 $57,766 $58,632 $59,512 $60,404 2,492 2,542 2,580 2,619 2,658 4,097 4,158 4,221 4,284 4,032 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate 1% Discount rate (WACC) 7.8% Common shares outstanding 135.6 million Net nonoperating obligations (NNO) $(6,129) million ($ millions) ROPI (NOPAT- [NOABeg x rw]) Present value of horizon ROPI Cum present value of horizon ROPI $ Present value of terminal ROPI NOA Total firm value Less NNO Firm equity value Shares outstanding (millions) Stock price per…

Estimating Share Value Using the ROPI Model Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018, for Humana. Terminal Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal place Reported Horizon period $ millions 2018 2019 2020 2021 2022 Period Sales $56,880 $57,734 $58,600 $59,480 $60,372 2,492 2,542 2,580 2.619 2,658 4,000 4,065 4,126 4,189 4,252 NOPAT NOA $60,976 2,684 4,295 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate Discount rate (WACC) 19 7.8% Common shares outstanding 135.6 million Net nonoperating obligations (NNO) S(6,161) million NNO is negative because Humana's nonoperating assets exceed its nonoperating liabilities. (a) Estimate the value of a share of common stock using the residual operating income (ROPI) model as of December 31,…

Prepare a vertical analysis for Carson Corporation’s balance sheet to determine the component percentages of its assets, liabilities, and stockholders’ equity. Round percentages to the nearest one-hundredth percent.                                                             Carson Corporation                                                          Balance Sheet as of                                                          December 31, 2020 Assets Total current assets                                           $   124,000 Long-term investments                                          351,000 Property, plant, and equipment, net                            950,000 Total assets                                                      $1,425,000   Liabilities Total current liabilities                                      $   460,000 Long-term debt                                                     230,000 Total liabilities                                                 $   690,000…

Based on the earnings per share in the period from 2005 to 2012 indicated in the following table, determine the annual dividend per share in accordance with each of the policies described in items a) to d). Year Earnings per share2012 $ 1.402011 1.562010 1.202009 0.852008 1.052007 0.602006 1.002005 0.44 a) Pay 40% of earnings in all years with positive earnings.b) Pay $ 0.60 per share and increase to $ 0.70 when earnings per share rise above $ 0.90 for two consecutive years.c) Pay $ 0.60 per share except when earnings exceed $ 1.00 per share; in that case, an extraordinary dividend of 70% of earnings would be paid in excess of $ 1.00 per share.d) Combine the policies described in sections b) and c). When the dividend increases (in part b), increase the excess basis of the dividend (in part c) from $ 1.00 to $ 1.10 per share.e) Compare the dividend policies described in items a) to d).

Forecasting with the Parsimonious Method and Estimating Share Value Using the DCF Model Following are income statements and balance sheets for Cisco Systems. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. Cisco Systems Consolidated Statements of Income Years Ended December ($ millions) July 27, 2019 July 28, 2018 Revenue Product $33,544 $31,570 Service 11,093 10,854 Total revenue 44,637 42,424 Cost of sales Product 12,782 12,407 Service 3,763 3,695 Total cost of sales 16,545 16,102 Gross margin 28,092 26,322 Operating expenses Research and development 5,656 5,446 Sales and marketing 8,231 7,948 General and administrative 1,571 1,844 Amortization of purchased intangible assets 129 190 Restructuring and other charges 277 308 Total operating expenses 15,864 15,736 Operating income 12,228 10,586 Interest income 1,125 1,297 Interest expense (739) (811) Other…

Comment on the movements in the ratios over two years and adequacy of the level of gearing and interest cover For 2021: Total Debt = $m 9,194 Stockholders' Equity = $m 5,000 Gearing Ratio = Total Debt ÷ Stockholders' Equity  = $m 9,194 ÷ $m 5,000 = 1.84  EBIT = $m 2,500 ( $m 2,400 + $m 100)  Interest expense / Finance costs = $m 400 Interest Coverage Ratio = EBIT ÷ Interest expense /Finance costs  = $m 2,500 ÷ $m 400 = 6.25   For 2022 : Total Debt = $m 8,685 Stockholders' Equity = $m 5,045 Gearing Ratio = Total Debt ÷ Stockholders' Equity  = $m 8,685 ÷ $m 5,045 = 1.72  EBIT = $m 1,730 ( $m 1,700 + $m 30)  Interest expense / Finance costs = $m 580  Interest Coverage Ratio = EBIT = Interest expense /Finance costs  = $m 1,730 ÷ $m 580  = 2.98

Computing trend analysis and return on common equity Net sales revenue, net income, and common stockholders’ equity for Eyesight Mission Corporation, a manufacturer of contact lenses, follow for a four-year period. Requirements Compute trend analyses for each item for 2017-2019. Use 2016 as the base year, and round to the nearest whole percent. Compute the rate of return on common stockholders’ equity for 2017-2019, rounding to three decimal places.

Computing trend analysis and return on common equity Net sales revenue, net income, and common stockholders’ equity for Azbel Mission Corporation, a manufacturer of contact lenses, follow for a four-year period. Requirements Compute trend analyses for each item for 2017-2019. Use 2016 as the base year, and round to the nearest whole percent. Compute the rate of return on common stockholders’ equity for 2017-2019, rounding to three decimal places.

From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for the second quarter of 2018. (Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent.)     FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data)   Second Quarter     2018 2017 Percent of net Net sales $6,644 $6,888   Cost of sales 4,080 4,453   Gross margin 2,564 2,435   Expenses:       Selling, general and administrative 1,836 1,774   Product development 166 156   Interest expense 89 114   Other (income), net (181) (108)   Total expenses 1,910 1,936   Income before income taxes 654 499   Provision for income taxes 256 200   Net income $398 $299   Net income per common share* $0.05 $0.03   Weighted average number of common shares and equivalents 6,673,673…

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dentifying Comparables and Valuation using PB and PE   Tailored Brands Inc.’s book value of equity is $4.563 million and its forward earnings estimate per share is $1.10, or $55.7 million in total earnings. The following information is also available for TLRD and a peer group of companies (identified by ticker symbol) from the specialty retail sector. Ticker Market Cap($ mil.) PB Current Forward PE (FY1) EPS 5-Year Historical Growth Rate ROE (T 4Q) Debt-to- Equity (Prior Year) TLRD -- -- -- -0.47% 22.50% 2.53 GCO 585.7 1 9.699 -323.73% -5.86% 0.13 ZUMZ 789.7 1.95 14.17 3.28% 13.85% 0 GES 1,147.00 2.07 13.19 -37.69% 1.90% 0.56 ANF 988.2 1 19.69 9.37% 6.35% 0.25 TLYS 293.7 1.68 11.6 5.51% 13.93% 0 M 4,760.00 0.75 5.458 -1.74% 16.70% 0.74 (a) Identify a set of three companies from this list to use as comparables for estimating the equity intrinsic value of…

Prepare a vertical analysis of the income statement data for Whispering Winds Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) WHISPERING WINDS CORPORATIONComparative Income StatementsFor the Years Ended December 31     2022   2021     $   Percent     $   Percent   Net sales   $688,000   Enter percentages %   $576,000   Enter percentages % Cost of goods sold   445,000   Enter percentages %   417,000   Enter percentages % Gross profit   243,000   Enter percentages %   159,000   Enter percentages % Operating expenses   145,000   Enter percentages %   108,000   Enter percentages % Net income   $98,000   Enter percentages %   $51,000   Enter percentages %

Requirements: a. Prepare horizontal analysis based on the above statements presented (for percent: round of your answers to 2 decimal places) Music Lover, Inc.xlsx b. Evaluate the company's financial position and results of operation using the comparative statement analysis i. Short-term solvency analysis ii. Long-term financial position analysis iii. Operating efficiency and profitability analysis