财务报表分析与证 券估值优质课件 (25).pptVIP

* * * * * * * * * * * * * * * * * * * * * * * * * * * * PPE Inc.The AOIG Valuation 16-* PPE Inc.The Free Cash Flow Valuation from the Pro Forma 16-* Filling out the Pro Forma Financial Statements Dividend forecast: Payout will be 40% of Earnings Borrowing cost forecast: Same as present (4%) 16-* Full-Information Forecasting: Nike 16-* Full-Information Forecasting: Nike (cont.) 16-* Full-Information Forecasting: Nike (cont.) 16-* A Forecasting Template Forecast sales Forecast ATO and calculate NOA NOA=sales/ATO Revise sales forecast for asset constraints Forecast Core PM and calculate C