Valuation Model: Download Instructions

Valuation Model
Introduction
This is a a discounted cash flow (DCF) model using the McKinsey EVA framework for
calculating cash flows. The forecasts and many other algorithms are developed by WVB
Inc. and have some theoretical support, but are here only presented as an illustration of
what can be achieved with WVB data. Note that green cells are possible to change, while
the others are locked.
For more advanced modelling, please consult

World'VestBase Sdn. Bhd. (707993-W)
1501 Wisma Hangsam, 1 Jln Hang Lekir, 50000 Kuala Lumpur.
Tel: +603 2026 8186, Fax: +603 20268187
Download instructions:
Enter www.wvb.com
Select "Login"
Choose "Company Screener", then select a company
Choose "Valuation spreadsheet"
Download spreadsheet to a designated folder.
Press the "Load data" button to bring in data into the model.
Press the "Process data" to insert the default accounting model.
Created by: Pontus Engström and Jacob Sternius, WVB Europe

Updated by: Le Hoai Anh, WVB Vietnam
Release date Version 2.0: Oct 12, 2007
WWW.WVB.COM
US (Headoffice) Asia
World'Vest Base Inc. WVB Representative Office Malaysia
1335 North Dearborn Suite 1501, Level 15
Chicago Wisma Hang Sam
IL 60610 US Jalan Hang Lekir
Tel: +(1) 312 922 3155 50000 Kuala Lumpur
inforequest@wvb.com MALAYSIA
Tel: +(60) 3 2026 8186
Philippe O. Piette Fax: +(60) 3 2026 8187
CEO inforequest@wvb.com
popiette@wvb.com
Latin America
Europe WVB Representative Office Mexico
WVB Representative Office UK Calle Colonias #221 11th Floor
4, Plaza Court Colonia Americana
East St. Guadalajara, Jalisco C.P. 44100
Sittingbourne Mexico
Kent ME10 4RS UK Tel: +(5233) 3826 6462
Tel: +(44) 1795 559397 Fax: +(5233) 3826 6462
Mobile: +(44) 7947 652667 inforequest@wvb.com
glittlewood@wvb.com
Cost of Capital
5.0% default Weighted Average Cost of Capital (WACC)
Risk free rate of return: user defined Equity weight #DIV/0! calculated
5.0% used user defined
#DIV/0! used
5.0% default
Risk premium: user defined Debt weight #DIV/0! calculated
5.0% used
#DIV/0! used
1.0 default
Beta of stock: user defined #DIV/0! calculated
1.0 used user defined
#DIV/0! used
10.0% used
Cost of Equity Capital: user defined
10.0% used
#DIV/0! calculated
Cost of Debt user defined
#DIV/0! used
NOTE: Beta estimates can be purchased from Quantal [www.quantal.com], BARRA [www.barra.com or via www.xls.com]
NOTE: The historical US geometric average risk premium was 5.0% between 1926-1993 according to Ibbotson Associates
Financial Summary 0 in thousands
Income Statement
Net turnover
Cost of goods sold
R&D expense
Other operating expenses
Gross earnings
Depreciation
Amortization
Other capitalized charges
Interest income
Investment income
Other income
Financial expenses
Net profit before taxes
Taxes
Net profit after tax
Minority interest
Special items after tax
Preferred dividends
Net income
Ordinary dividends
Retained earnings
Assets
Cash and equivalent
Short-term investments
Accounts receivables
Inventories
Prepayment and advances
Other current assets
Total current assets
Property, plant and equipment at cost
Revaluation of property, plant and equipment
Accumulated depreciation
Net property, plant and equipment
Goodwill
Other intangibles
Goodwill and intangibles
Other leasing and investment properties
Other long term assets
Long term investments
Total assets
Liabilities
Short term debt
Current portion of long term debt
Accounts payable
Other current liabilities
Total current liabilities
Long term debt
Long term convertible debt
Lease obligation
Total long term debt
Minority interest
Deferred taxes
Provisions
Other long term debt
Total liabilities & debt
Redeemable preferred shares
Preferred shares
Common stock/shares
Participation shares
Share capital
Additional paid in capital
Legal/untaxed/special reserves
Restricted reserves
Retained earnings
Treasury stock
Other equity
Total shareholders equity
Total liabilities & equity
Balance check OK OK OK OK OK
OK
Operating Cash Flow Historical Forecast Fade
12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 1 2 3 4 5
EBIT
Taxes on EBIT
Change in deferred taxes
NOPLAT #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Depreciation expense
Gross cash flow #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Increase in working capital
Capital expenditures
Gross investment #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Investment in intangibles
Custom adjustment
Free cash flow #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Settings
Corporate tax rate 28% 28% 28% 28% 28% 28%
Calculating ROIC Forecast Fade

12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 1 2 3 4 5
NOPLAT 0 0 0 0 0 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Operating invested capital 0 0 0 0 0 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
ROIC #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Growth Forecast Fade

12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 12/30/1899 1 2 3 4 5
Growth in invested capital #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
1 2 3 4 5 6 7 8 11
Fade to's
ROIC (Default is set to Cost of Capital) #DIV/0!
Growth in invested capital 2.0%
6 7 8 9 10 11 12 13 14 15 16 Perpetuity
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
6 7 8 9 10 11 12 13 14 15 16 Perpetuity
6 7 8 9 10 11 12 13 14 15 16 Perpetuity
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2.0%
12 13 14 15 16 17 18 19 20 21 22 #VALUE!
Valuation
Today's date 21-May-22 Shares 21-May-22
Value of forecasted cash flows #DIV/0! Shares outstanding ('000) 30000.001
Value of faded cash flows #DIV/0! Share price 0 #DIV/0!
Value in perpetuity #DIV/0!
Value of investments 0 Currency 0
Total economic value #DIV/0! Company 0
World'Vest number 0
Less debt [at nominal value] 0 Note: All values in thousands except for share price
Total economic equity value #DIV/0! in thousand 0 in thousands

Key ratios fo Key ratios for 0

Valuation Model: Download Instructions

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Valuation Model: Download Instructions

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Copyright:

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Valuation Model

For more advanced modelling, please consult

Download spreadsheet to a designated folder.

Created by: Pontus Engström and Jacob Sternius, WVB Europe

Calculating ROIC Forecast Fade

Growth Forecast Fade

Total economic equity value #DIV/0! in thousand 0 in thousands

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