Input Sheet(assumtion)Current Financial Information (Enter the most recent information you can find; if possible, use trailing 12-month data)I. Income StatementCurrent EBIT =$(55.00)Current Interest Expense =$0.51Current Capital Spending$459.27Current Depreciation and Amortization =$59.52Current Revenues =$1,246.30II. Balance SheetThis periodLast periodCurrent Non-cash Working Capital =$65.00$29.00Book Value of Debt =$198.47108.165Book Value of Equity =$1,513.041097.267Cash & Marketable Securities =$792.26Non-operating Assets$194.48III. Tax InformationNOL carried forward =$1,289.00Marginal tax rate =37.50%Adjustments to Current Financial InformationDo you have any operating leases?YesDoes your firm have R&D expenses?NoAre there any other operating expenses to be capitalized?NoDiscount Rate InputsCurrent Beta =1.37Current Cost of Borrowing =5.91%Current Market Value of Debt =$143.14Expectations for the futureDo you want to enter the growth rate in revenues each year?YesIf no, Compounded Annual Growth Rate in Revenues for next 10 years:28.54%Do you want me to use current working capital as percent of revenues for the future?NoIf not, enter non-cash working capital as a percent of revenues in future periods140.77%How would you like capital expenditures to be estimated?3If you would chose 3, enter the sales to capital ratio that you would like maintained3.02Stable Growth InputsExpected Growth Rate in perpetutity =3%Speed of convergenceExpected Operating Margin =14.19%1.5Expected Debt to Capital(MV) Ratio for the firm =44.71%Expected Beta =1.10Expected Cost of Debt =7.20%Return on Capital for the firm =26.39%Per Share InputsNumber of Shares outstanding =81.644Current Stock Price =$119.48Does your firm have equity options outstanding?YesIf yes, enter the number of options outstanding =1.53631and the average exercise price of the options outstanding =251.31and the average maturity of the options outstanding =9and the standard deviation in the firm's stock price =61%General InformationCurrent long term government bond rate =3.55%Estimated Market Risk Premium =4.56%Relative ValuationIf you want to do a relative valuation of your firm, enter these inputs:Year on which multiple is to be applied =10Value to Sales multiple in that year =3.7965071332

Aswath Damodaran:Enter the current operating income of the firmAswath Damodaran:Enter interest expenses on debt, if any.Aswath Damodaran:Enter capital spending and acquisitions that the firm had in the period.Aswath Damodaran:Enter the depreciation and amortization that the firm had over the period.Aswath Damodaran:Enter the revenues for the period.Aswath Damodaran:Even if the firm is not paying taxes now, enter the marginal tax rate it will face, when it does start paying taxes.Aswath Damodaran:Enter the net operating loss, if any, that the firm has accumulated over time. If you cannot find this, add up the net losses over the firm's lifetime and enter that.Aswath Damodaran:Non-cash Working capital = Non-cash current assets - Non-debt current liabilitiesAswath Damodaran:Enter the book value of all interest bearing debt.Aswath Damodaran:Enter the book value of equity (It can be negative)Aswath Damodaran:Yes or No. This information should be in the 10-K. If your firm has operating lease commitments, fill out the lease worksheet.Aswath Damodaran:Yes or No. If your firm has R&D expenses, fill out the R&D capitalization worksheet.Aswath Damodaran:There are some operating expenses that you might view as providing benefits over multiple periods. You can capitalize them by using the Other Expenses worksheet.Aswath Damodaran:This is obviously an estimate. Since this is going to compound over 10 years, be cautious.Aswath Damodaran:Yes or No. If yes, enter the growth rate in revenues each year below. If no, enter the compounded annual growth rate below.Aswath Damodaran:Enter the beta for the first 5 years of your valuation. I would suggest using a bottom-up beta.Aswath Damodaran:Input the current cost of borrowing for the firm. You can use the actual rating or a synthetic rating to estimate this.Aswath Damodaran:Enter the market value of the debt. As an approximation, you can use book value of debt.Aswath Damodaran:If your current working capital requirements are negative or abnormally high, I would say No.Aswath Damodaran:Input the percentage you would like to use. Industry averages might be a good idea.Aswath Damodaran:This number has to be less than or equal to the growth rate of the economy. As a rule of thumb, it should not exceed the riskfree rate.Aswath Damodaran:Enter the operating margin (EBIT/Sales) that you believe that your firm will have in stable growth. Look at industry averages for some guidance.Aswath Damodaran:Enter the debt ratio that your firm will have in stable growth.Aswath Damodaran:Enter the beta that you would like your company to have in stable growth. This shoud generally be