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Financial Statement Analysis - Document

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Added on  2020-05-28

Financial Statement Analysis - Document

   Added on 2020-05-28

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Running Head: Financial Statement AnalysisFinancial Statement AnalysisChapter 4: A Discounted Cash Flow Valuation: General Mills, Inc. Part (A)(in million $)YearCash FlowfromOperationsCash Investmentin OperationsFree CashFlowsPV @9%PV of FreeCash Flows2006201430017140.9171572.482007205738016770.8421411.502008209544216530.7721276.422009210747016370.7081159.69*2010-∞22322.220.65014507.91*Free Cash Flows will remain $2009 Million after 2009Enterprise value19928.00Value of Debt6192Equity value13736.00No. of shares outstanding(Millions)369Value per share($)37.22Price($)47Value-to-price Ratio0.79
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Financial Statement Analysis2*Free Cash Flows from 2010-∞ = 2009/9% = 22322.22
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Financial Statement Analysis3Part (B)*FreeCash Flows from 2010-∞ = 1653(1+0.03)/9%-3% = 28101.83(in million $)YearCash FlowfromOperationsCash Investmentin OperationsFreeCashFlowsPV@9%PV of FreeCash Flows2006201430017140.9171572.482007205738016770.8421411.502008209544216530.7721276.422009210747016370.7081159.69*2010-∞28101.830.65018264.26* Growth Rate = 3% PerpetuallyEnterprise value23684.35Value of Debt6192Equity Value17492.35No. of shares outstanding(Millions)369Value per Share47.40Price 47Value-to-price Ratio1.01
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