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Staples Module 12 Presentation

Staples Module 12 Presentation. Mary Astuno 22 april 2014. Business Segments. North American Commercial segment consists of the U.S. and Canadian business units that sell and deliver office products and services directly to businesses, including Staples Advantage and Quill.com .

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Staples Module 12 Presentation

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  1. Staples Module 12Presentation Mary Astuno 22april 2014

  2. Business Segments North American Commercial segment consists of the U.S. and Canadian business units that sell and deliver office products and services directly to businesses, including Staples Advantage and Quill.com. International Operations segment consists of businesses in 23 countries in Europe, Australia, South America and Asia] Reported negative NI of $210.7M for FY 2012 Reported NI of $620M for FY 2013

  3. Adjusted Balance Sheet

  4. Adjusted Balance Sheet

  5. Adjusted Balance Sheet

  6. Adjusted Balance Sheet

  7. Adjusted Income Statement

  8. Adjusted Income Statement

  9. Classification of Assets

  10. Classification of Liabilities

  11. NEA Computation

  12. Enterprise Liability Computation

  13. NFL Computation

  14. Classification of Expenses

  15. EPAT Computation

  16. Disaggregating Return on Net Enterprise Assets

  17. Common Size Income Statement

  18. Common Size Balance Sheet

  19. Common Size Balance Sheet

  20. Discounted Cash Flow

  21. Value of Debt • V(ent)-V(D)=V(eq) • NFL=V(D) • NFL=941,909 • Value of equity: • 10,737,596-941,909=9,795,687 million • Equals $9.796 billion • Approximate equity value per share=$18.75

  22. Sensitivity Analysis-Market Value Market Value of Staples=$7.82B. Therefore “Buy” according to intrinsic value comparison

  23. Overall “Buy” Recommendation Both the DCF enterprise value and market value sensitivity analysis indicate that it would be in an investor’s best interest to buy Staples. The current market price of Staples is $12.01, but the DCF forecast indicates that the approximate value of the stock is $18.75. Therefore, it would be in a wise investment decision given the stock is currently undervalued according to our analysis.

  24. The End Questions, comments?

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