Greystone Technologies financed 85% of its total needs with internal financing in 2020. The company borrowed an additional 15% of its total needs in the long-term debt markets. What were Greystone's net new stock issues in that year?
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- Confu Inc. expects to have the following data during the coming year. What is the firm's expected ROE?Using the Value Line Investment Survey report in Exhibit 11.5, find the following information for Apple. What was the amount of revenues (i.e., sales) generated by the company in 2017? What were the latest annual dividends per share and dividend yield? What is the earnings per share (EPS) projection for 2019? How many shares of common stock were outstanding? What were the book value per share and EPS in 2017? How much long-term debt did the company have in the third quarter of 2018?What is summit ROE for 2023?
- As the chief financial officer of Adirondack Designs, you have the following information: Next year's expected net income after tax but before new financing Sinking-fund payments due next year on the existing debt Interest due next year on the existing debt Common stock price, per share Common shares outstanding Company tax rate $ 37 million $12 million $7 million $26.5 17 million 45% a. Calculate Adirondack's times-interest-earned ratio for next year assuming the firm raises $47 million of new debt at an interest rate of 5 percent b. Calculate Adirondack's times-burden-covered ratio for next year assuming annual sinking-fund payments on the new debt will equal $3.0 million c. Calculate next year's earnings per share assuming Adirondack raises the $47 million of new debt d. Calculate next year's times-interest-earned ratio, times-burden-covered ratio, and earnings per share if Adirondack sells 1.2 million new shares at $22 a share instead of raising new debt. Note: Do not round…Given the forecast below, estimate the fair market value per share of Kenmore Air's equity at the end of 2017 if the company has 50 million shares outstanding and the market value of its interest-bearing liabilities on the valuation date equals $300 million. Assume that after 2021, earnings before interest and tax will remain constant at $220 million, depreciation will equal capital expenditures in each year, and working capital will not change. Kenmore Air's weighted- average cost of capital is 11 percent and its tax rate is 40 percent. Forecast for Kenmore Air, Inc. Year 2018 2019 2020 2021 -40 85 97 112 Free cash flow ($ millions)Target entered fiscal 2019 with a total capitalization of $21,928 million. In 2019, debt investors received interest income of $885 million. Net income to shareholders was $8,678 million. (Assume a tax rate of 21%.) Calculate the economic value added assuming its cost of capital is 10%.
- The Ethereum Imports Company’s EPS in 2011 was $3.00, and in 2006 it was $1.90. The company’s payout ratio is 30%, and the stock is currently valued at $42. Flotation costs for new equity will be 7%. Net income in 2012 is expected to be $15 million. The market-value weights of the firm’s debt and equity are 40% and 60%, respectively.a. Based on the five-year track record, what is Dempere’s EPS growth rate? What will the dividend be in 2012?b. Calculate the firm’s cost of retained earnings and the cost of new common equity.c. Calculate the breakpoint associated with retained earnings.How is this wrong?The following forecasts were developed at the end of 2022 for Endless Sunny Days (ESD), a company that has a cost of capital for its operations of 8% and a cost of capital for its equity of 12% (amounts are in millions of dollars): Cash flow from operations 2023E 135 95 2024E 215 165 2025E 270 125 Cash investment expenditure At the end of 2022, the book value of equity was $370 and the net financing debt was $360. 1. Forecast Free Cash Flows for 2023, 2024 and 2025. 2. Calculate the present value of Forecast Free Cash Flows for 2023, 2024 and 2025. 3. Using a terminal growth rate in free cash flow after 2025 of 1%, calculate the present value of cash flows to be received in the terminal period. 4. Using your answers to previous questions, estimate the total market value of equity for the firm.
- Assume that today is December 31, 2021. Use the following information that applies to Harrison Corporation to calculate what should be the company’s stock price today. After-tax operating income [EBIT (1 – T)] for 2022 is expected to be $850 million The depreciation expense for 2022 is expected to be $110 million The capital expenditures for 2022 are expected to be $650 million No change is expected in net working capital The free cash flow is expected to grow at a constant rate of 5.5% per year The required return on equity is 10% The WACC is 8% The firm has $150 million of non-operating assets The market value of the company’s debt is $3.25 billion 250 million shares of stock are outstanding Using the corporate valuation model approach, what should be the company’s stock price today?SLMA Corp. for the last ten years, has earned and had cash flows of about P600,000 every year. As per the predictions of the company'searnings, the same cash flow would continue for the foreseeable future. The expenses for the business every year is about P500,000only. Based on the available public information a P4 million Treasury bond has a prevailing return of P40,000 quarterly. Using Capitalization of Earnings approach, assuming SLMA would sell 20% of its shareholdings, what will be the minimum selling price? ANSWER: 2,500,000 provide the solution pleaseSLMA Corp. for the last ten years, has earned and had cash flows of about P600,000 every year. As per the predictions of the company'searnings, the same cash flow would continue for the foreseeable future. The expenses for the business every year is about P500,000only. Based on the available public information a P4 million Treasury bond has a prevailing return of P40,000 quarterly. Using Capitalization of Earnings approach, assuming SLMA would sell 20% of its shareholdings, what will be the minimum selling price? a. 2,500,000 b. 500,000 c. 1,500,000 d. 1,000,000