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    The document provides financial projections for a bakery business over 5 years. It assumes sales will grow 10% annually from an initial 100 cakes per day. Costs like rent, utilities and labor are assumed to increase 3-5% per year. The summary provides projections for key metrics like gross sales, costs, net income and margins each year. It also outlines operating and expenditure assumptions to calculate free cash flow and value the business.

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    Valuation+ +Excel+ +Students+(1)

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    The document provides financial projections for a bakery business over 5 years. It assumes sales will grow 10% annually from an initial 100 cakes per day. Costs like rent, utilities and labor are assumed to increase 3-5% per year. The summary provides projections for key metrics like gross sales, costs, net income and margins each year. It also outlines operating and expenditure assumptions to calculate free cash flow and value the business.

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    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    6 views4 pages

    Valuation+ +excel+ +students+

    Uploaded by

    snigdha.sanaboina
    The document provides financial projections for a bakery business over 5 years. It assumes sales will grow 10% annually from an initial 100 cakes per day. Costs like rent, utilities and labor are assumed to increase 3-5% per year. The summary provides projections for key metrics like gross sales, costs, net income and margins each year. It also outlines operating and expenditure assumptions to calculate free cash flow and value the business.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    of 4

    YEAR ONE

    Break-even
    Cakes Sold per day 100 Lets start with this assumption
    Average Retail per Cake $ 80.00
    Cakes Sold per year ?

    Gross Sales (year) ?


    Rent $ 310,600.00
    Utilities $ 38,644.00
    Labor $ 594,750.00
    COGS (50% of Gross Sales) ?
    Total Cost ?
    Net Income ?
    Margin ? Growth Rate 10.0%

    Year One Year Two Year Three Year Four


    Cakes Sold per day 100.0
    Average Retail per Cake $ 80.00
    Cakes Sold per year ?

    Gross Sales ?
    Rent (3% escalation) $ 310,600.00
    Utilities (3% escalation) $ 38,644.00
    Labor (5% escalation) $ 594,750.00
    COGS (50% of Gross Sales) ?
    Total Cost ?

    Net Income ?
    Margin ?
    Start-up Cost Left ?
    We will start with this assumption

    Year Five
    Historical Projected
    2012 2013 2014 2015 2016 2017 2018 2019
    Sales $4,132.5 $7,491.2 $11,000.0 $13,200.0
    COGS (excluding depr.) $1,303.4 $1,632.7 $2,397.48
    Gross Profit $2,829.1 $5,858.5 $8,602.5

    SG&A $2,449.2 $4,342.5 $6,376.5


    R&D Exp. $0.0 $0.0 $0.0
    EBITDA $379.9 $1,516.0 $2,226.0
    EBITDA Margin 9.19% 20.24% 20.24%

    Depreciation $41.8 $149.0 $24.75


    EBIT $338.1 $1,367.0 $2,201.3
    Taxes (35.0%) $4.4 $74.2 $770.4
    Tax-effected EBIT $333.7 $1,292.8 $1,430.8

    Depreciation $41.8 $149.0 $24.8


    Capital Expenditures $142.2 $1,194.4 $33.0 $1,000.0
    Change in working capital $10.8 $271.2 $68.0
    Free Cash Flow $222.5 ($23.8) $1,354.6

    Operating Assumptions
    Sales Growth NA 81.3% 46.8% 20.0% 40.0% 25.0% 25.0% 25.0%
    COGS (% of sales) 31.5% 21.8% 21.8% 21.8% 21.8% 21.8% 21.8% 21.8%
    SG&A (% of sales) 59.3% 58.0% 58.0% 57.0% 56.0% 55.0% 54.0% 53.0%
    R&D Exp. (% of sales) 0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.1% 0.1%

    Primary Expenditure Assumptions


    CapEx (% of sales) 3.4% 15.9% 0.3% 7.6% 0.3% 0.3% 0.3% 0.3%
    Depreciation (% of CapEx) 29.4% 12.5% 75.0% 80.0% 85.0% 90.0% 95.0% 100.0%
    Change in Working Capital (% of ∆ sales) NA 8.1% 1.9% 1.9% 1.9% 1.9% 1.9% 1.9%

    Dollar values in thousands


    Perpetuity Growth Method
    WACC 12.0%
    Terminal Growth Rate 4.0%

    Years into the future 1 2 3 4 5


    FCF ? ? ? ? ?
    PV of Cash Flow ? ? ? ? ?
    Terminal Value of FCF ?
    PV of TV (Discounted 5 Years) ?

    Enterprise Value ?
    Value Given Up to Investors ?

    PV of TV as % of EV ?

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