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Discount, Variety Stores

Discount, Variety Stores. Module 7 : Valuation Using Residual Enterprise Income Claire ( Lan ) Lin. REI Model. REI Model. serves as the starting point Residual enterprise income explains the premium of market value over book value.

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Discount, Variety Stores

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  1. Discount, Variety Stores Module 7: Valuation Using Residual Enterprise Income Claire (Lan) Lin

  2. REI Model

  3. REI Model • serves as the starting point • Residual enterprise income explains the premium of market value over book value

  4. Growth rate from 2014 to 2018 is 4.3% then changes to 1.5% afterwards • REI of 2020 is used when calculating continuing value

  5. More than 50%!!!

  6. FCF Model

  7. Growth rate from 2014 to 2018 is 4.3% then changes to 1.5% afterwards • FCF of 2020 is used when calculating continuing value

  8. Comparison of REI & FCF

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