'Free cash flow' diaporamas de présentation

Microsoft Hernan Vargas Josh Toppass Elena Maduro Jose Lara Russell Clark Anna Schinas Background Analysis Microsoft Corporation was founded as a partnership in 1975 and incorporated in 1981. Mission Statement Microsoft’s product line Background Information Bill Gates

Standard Motor Products, Inc. 2008 Annual Automotive Aftermarket Symposium, November 3rd – 5th Larry Sills – Chairman & CEO Jim Burke – VP Finance & CFO Forward Looking Statements

Chapter 2 Review of Accounting Here are the concepts discussed in this chapter: The income statement measures profitability. The price-earnings ratio indicates the relative valuation of earnings. The balance sheet shows assets and the financing of those assets.

“How Well Am I Doing?” Statement of Cash Flows Chapter 15 Purpose of the Statement of Cash Flows Why is there a difference between net income and net cash flow? Are cash flows sufficient to support ongoing operations? Can we meet our obligations to creditors?

Identifying Winning Value Stocks How to Find Companies that are Trading Well Below their Intrinsic Value World Money Show – February, 2006 Company Introduction Financial Newsletter Publisher Founded in 2001 Independent, Unbiased Research Five Different Newsletters

Q1 2009 TELUS investor conference call Robert McFarlane EVP & Chief Financial Officer Darren Entwistle President & CEO May 7, 2009 TELUS forward looking statements

Frameworks for Valuation. Frameworks for DCF-Based Valuation. Model . Measure . Discount factor . Assessment . Enterprise discounted cash flow . Free cash flow. Weighted average cost of capital.

What Service Innovation Means to Me. George Miller, Client Industry Executive, Global Partner Group, BT Global Services June 14 th 2010, Manchester . What Service Innovation means to me. …the greatest opportunity to improve our world/ our quality of life everywhere

The Impact of Investment Opportunities and Free Cash Flow on Financial Liberalization: A Cross-Firm Analysis of Emerging Economies. Sheng-Syan Chen Robin K. Chou Shu-Fen Chou (Financial Management, 2009, Forthcoming). Motivation.

Chap 11-Valuation Process. Two approaches 1. Top-down, three-step approach 2. Bottom-up, stock valuation, stock picking approach The difference between the two approaches is the perceived importance of economic and industry influence on individual firms and stocks.

Chapter 29: Mergers and Acquisitions. Basic terms and definitions concerning mergers and acquisitions Reasons for mergers and acquisitions Real world empirical observations An example of valuing a potential acquisition. Mergers and Acquisitions.

NPV. NPV. There are three ways to apply the NPV principle Weighted Average Cost of Capital (WACC) Adjusted Present Value (APV) Flow to Equity (FTE). NPV WACC. Work out the WACC using the after tax cost of debt R wacc = E re + D rd (1-Tc) E + D E + D

Financing Decisions and The Cost of Capital. The Capital Structure Question:. How should a firm structure the right-hand side of its balance sheet? Debt vs. Equity – the choice for our purposes. We have seen how to do capital budgeting when the firm has debt in its capital structure.

Presentation Steinberg Value Equity Fund Steinberg High Yield Fund . Outline. I Profile II Equity Strategy – Steinberg Value Equity Fund III Income Strategy – Steinberg High Yield Fund IV Contact Information

Chapter 3 Free Cash Flow Valuation. Intro to Free Cash Flows. If applied to dividends, the DCF model is the dividend discount model (DDM) from Chapter 2.

Valuation. Creation of value Valuation of a stock listed company Valuation of a non listed company Net Asset Price-earning Ratio Present Value of Dividends Present Value of Free Cash flow. Creation of value. The goal of any company : to create value

Discounted Cash Flow (DCF) Analysis Tutorial. This presentation is to be used ONLY as a template for DCF Analysis presentations. In no way should it reflect a finished work. Tutorial Objectives. Basic Underlying Principles Time Value of Money Present/Future Value Opportunity Cost

VALUATION. Five Categories of Valuation Methods. Discounted cash-flow Market-based Mixed models Asset-based methods Option-based methods. Discounted Cash-Flow Approach. Estimated future cash flows are discounted back to present value based on the investor’s required rate of return

Chapter 11. AN INTRODUCTION TO VALUATION. Chapter 11 Questions. When valuing an asset, what are the required inputs? After we have valued an asset, what is the investment decision process? What are the tow major approaches to the investment decision process?

Chapter 15. Dividend Policy. Shapiro and Balbirer: Modern Corporate Finance: A Multidisciplinary Approach to Value Creation Graphics by Peeradej Supmonchai. Learning Objectives.