Model - Key Data
- 02:31
Review the main data needed to calculate implied valuation ranges
Transcript
In calculating my share price range for a number of valuation methodologies, We're going to need to go over the EV equity bridge a number of times So let's pull that key data through just once, and then we've always got it at the top of this tab We'll be doing most of our work in the football field tab So I put a new heading called key data and what I want to do is go and find that equity bridge information I'm going to find that information on the Tumi 1 tab, and that's supplying information to the trading comparables valuation tab So the first thing I want, is I want to go look for the EV equity bridge information And here it is, you've got your enterprise valuation calculation in US dollars Cash, financial investments, non-core assets, M&A adjustments You've also then got your sources of finance on the right hand s So let's bring those through, I'll pull through the headings first of all. Get cash and all of those And I'll go through and find the liabilities as well I now need the numbers for each of these, so the cash figure we had was 102 in Tumi And if I copy them down, I get the information from the cells below on the Tumi 1 tab. Do the same for financial debt And now I've got everything for my EV equity bridge. As you can see there are only two items here You've got cash and equivalents and financial debt So that's enough to get us from an enterprise value to an equity value But then we need to get from the equity value to an implied share price, which means we need diluted shares outstanding Again I'm going to get this from our Tumi 1 tab (our trading comparable tab) and if we scroll down to our key data We've got diluted shares outstanding as of the date we did our trading comparable, 68.2 million I now go and grab the number, all done. Now there is a simplification in the way this model is being built We should be changing that share dilution effect by changing the share price that goes into the trading comparables model However, we're not going to do that just as a simplification So that we don't have to keep changing the diluted shares every single second So that's all of our key data, everything to go over the EV equity bridge and diluted shares outstanding