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Financial Modeling for Projects and Companies

The document provides a balance sheet and income statement for a company over three years from 2008 to 2010. It includes line items for assets, liabilities, equity, net earnings, depreciation, amortization, and changes in operating assets and liabilities.

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Бадамсүрэн Анужин
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62 views26 pages

Financial Modeling for Projects and Companies

The document provides a balance sheet and income statement for a company over three years from 2008 to 2010. It includes line items for assets, liabilities, equity, net earnings, depreciation, amortization, and changes in operating assets and liabilities.

Uploaded by

Бадамсүрэн Анужин
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

FIN-449 Төслийн ба компанийн санхүүгийн загварчлал

###

### Assets
### Short-term assets
Cash 1,000.00
Marketable securities 1,500.00
Inventories 1,500.00
Accounts receivable 3,000.00

### Fixed assets


Land 150.00
Plant, property and equipment at cost 2,500.00
Minus accumulated depreciation - 700.00
Net fixed assets

### Goodwill 1,000.00

Total assets 9,950.00

### Liabilities and equity


### Short-term liabilities
Account payable 1,500.00
Taxed payable 200.00
Current portion of long-term debt 1,000.00
Short-term debt 500.00

### Long-term debt 1,500.00


### Pension liabilities 800.00

### Preferred stock 200.00


### Minority interest 100.00

### Equity
Stock at par 1,000.00
Accumulated retained earnings 3,500.00
Stock repurchases - 350.00

Total liabilities and equity 9,950.00


FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

### Assets
### Liquid assets 2,500.00

### Currentt assets, operational


Inventories 1,500.00
Account receivables 3,000.00
### Minus accumulated depreciation
Accounts payable - 1,500.00
Taxes payable - 200.00
### Net working capital 2,800.00

### Fixed assets 1,950.00

### Goodwill 1,000.00

Total assets 8,250.00

### Liabilities and equity


### Financial debt
Current portion of long-term debt 1,000.00
Short-term debt 500.00
Long-term debt 1,500.00
### Total financial debt 3,000.00

### Pension liabilities 800.00

### Preferred stock 200.00


### Minority interest 100.00

### Equity 4,150.00

Total liabilities and equity 8,250.00


FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

### Assets
### Net working capital 2,800.00

### Fixed assets 1,950.00

### Goodwill 1,000.00

Total assets 5,750.00

### Liabilities and equity


### Total financial debt 3,000.00
Minus liquid assets - 2,500.00
Net debt 500.00

### Pension liabilities 800.00

### Preferred stock 200.00


### Minority interest 100.00

### Equity 4,150.00

Total liabilities and equity 5,750.00


FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

### Assets
### Current assets
Cash and cash equivalents 3,057,000.00
### Short-term investment
Net receivables 19,533,000.00
Inventory 14,544,000.00
### Other current asstes 994,000.00

Total current assets 38,128,000.00

### Long-term investments 13,211,000.00


### Property, plant, and equipment (net) 14,395,000.00
### Goodwill 7,080,000.00
### Intagible assets 4,368,000.00
### Other assets 2,107,000.00
### Deferred long-term asset charges 2,157,000.00

Total assets 81,446,000.00

### Liabilities and equity


### Current liabilities
Account payable 16,946,000.00
Short-term debt 9,648,000.00
Other current liabilities 1,967,000.00
### Total current liabilities 28,561,000.00

### Long-term debt 24,944,000.00


### Other liabilities 14,539,000.00

### Minority interest 46,000.00

### Stock, oprions, warrants 473,000.00


### Common stock 4,273,000.00
### Retained earnings 25,219,000.00
### Treasury stock - 10,281,000.00
### Other stockholder equity - 6,328,000.00
### Total equity 13,356,000.00

Total liabilities and equity 81,446,000.00


FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
#VALUE!

#VALUE! Assets
#VALUE! Net working capital 16,158,000.00
#VALUE! Long-term investments 13,211,000.00
#VALUE! Property, plant, and equipment (net) 14,395,000.00
#VALUE! Goodwill 7,080,000.00
#VALUE! Intagible assets 4,368,000.00
#VALUE! Other assets 2,107,000.00
#VALUE! Deferred long-term asset charges 2,157,000.00
Enterprise value 59,476,000.00

#VALUE! Liabilities and equity


#VALUE! Net financial debt 31,535,000.00
#VALUE! Other liabilities 14,539,000.00
#VALUE! Minority interest 46,000.00
#VALUE! Equity 13,356,000.00
Enterprise value 59,476,000.00
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
#VALUE!

Number of shares outstanding 624,722.72


Price per share 90.60
Equity value ("Market Cap") 56,599,878.43

Cash and cash equivalents 3,057,000.00


Short-term debt and current portion of long-term debt 9,648,000.00
Long-term debt 24,944,000.00
Net debt 31,535,000.00

Other liabilities 14,539,000.00


Minority interest 46,000.00
Preferred stock -

Enterprise value 102,719,878.43


FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
#VALUE!

#VALUE! Assets
#VALUE! Net working capital 16,158,000.00
#VALUE! Long-term investments
#VALUE! Property, plant, and equipment (net)
#VALUE! Goodwill
86,561,878.43
#VALUE! Intagible assets
#VALUE! Other assets
#VALUE! Deferred long-term asset charges
Enterprise value 102,719,878.43

#VALUE! Liabilities and equity


#VALUE! Net financial debt 31,535,000.00
#VALUE! Other liabilities 14,539,000.00
#VALUE! Minority interest 46,000.00
#VALUE! Equity 56,599,878.43
Enterprise value 102,719,878.43
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

2008 2009 2010


### Operating activities
### Net earnings 479,355.00 495,597 534,268
Adjustments to reconcile net earnings
to net cash provided by operating
### activities
Add back depreciation and
41,583.00
### amortization 47,647 46,438
Changes in operating assets and
### liabilities:
Subtract increase in accounts
9,387.00
### receivable 25,951 -12,724
### Subtract increase in prepaid expenses -
inventories 37,630.00 -22,780 -16,247
### and other assets - 52,191.00 13,573 16,255
Add increase in accounts payable,
accrued expenses, pensions, and 29,612.00
### other liabilities 51,172 6,757
Net cash provided by operating 470,116.00 611,160.00 574,747.00
### activities

### Investing Activities:


### Short-term investments, net - 5,000.00 -55000 -50000
Purchases of property, plant, and - 48,944.00
### equipment
Proceeds from dispositions of -70,326 -89,947
property, plant and
197.00
### equipment
Net cash used in investing 6,956 22,942
### activities - 53,747.00 - 118,370.00 - 117,005.00

### Financing Activities:


### Repayment of debt - 0 -300000
Proceeds from revolving credit facility
1,242,431.00
### borrowings 0 0
### Proceeds from the issuance of stock 48,286.00 114,276 69,375
### Dividends paid - 332,986.00 -344,128 -361,208
### Stock repurchased
Net cash used in financing - 150,095.00 -200,031 -200,038
### activities 807,636.00 - 429,883.00 - 791,871.00

### Changes in cash balances 1,224,005.00 62,907.00 - 334,129.00

Supplemental disclosure of cash flow


### information
### Cash paid during the period for
### Income taxes 255,043.00 175,972 314,735
### Interest 83,553.00 83,551 70,351

### Income tax rate 34.73% 26.20% 37.07%

nomin 6r buleg biydaalt


case
2011 2012

505,856 520,273

45,839 46,622

1,685 -2,153
-15,780 -5,517
14,703 -2,975

40,541 60,255

592,844.00 616,505.00

-10000 20000

-37,044 -88,426

6,179 28,693
- 40,865.00 - 39,733.00

0 -7095

0 250000
68,214 37,855
-367,499 -378,325
-200,003 -597,738
- 499,288.00 - 695,303.00

52,691.00 - 118,531.00
283,618 305,094
57,151 57,910

35.92% 36.96%
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

2008 2009 2010


### Operating activities
### Net earnings 479,355.00 495,597 534,268
Adjustments to reconcile net earnings
to net cash provided by operating
### activities
Add back depreciation and
41,583.00
### amortization 47,647 46,438
Changes in operating assets and
### liabilities:
Subtract increase in accounts
9,387.00
### receivable 25,951 -12,724
### Subtract increase in prepaid expenses -
inventories 37,630.00 -22,780 -16,247
### and other assets - 52,191.00 13,573 16,255
Add increase in accounts payable,
accrued expenses, pensions, and 29,612.00
### other liabilities 51,172 6,757
Net cash provided by operating 470,116.00 611,160.00 574,747.00
### activities

### Investing Activities:


### Short-term investments, net - 5,000.00 -55000
Purchases of property, plant, and - 48,944.00
### equipment
Proceeds from dispositions of -70,326 -89,947
property, plant and
197.00
### equipment
Net cash used in investing 6,956 22,942
### activities - 53,747.00 - 118,370.00 - 67,005.00

### Financing Activities:


### Repayment of debt
Proceeds from revolving credit facility
### borrowings
### Proceeds from the issuance of stock
### Dividends paid
### Stock repurchased
Net cash used in financing
### activities

416,369.00 492,790.00 507,742.00


### Free cash flow before interest adjustment
### Add back after-tax net interest 54,536.57 61,658.04 44,271.09
### Free cash flow (FCF) 470,905.57 554,448.04 552,013.09
Supplemental disclosure of cash flow
### information
### Cash paid during the period for
### Income taxes 255,043.00 175,972 314,735
### Interest 83,553.00 83,551 70,351

### Income tax rate 34.73% 26.20% 37.07%

nomin 6r buleg biydaalt


case
2011 2012

505,856 520,273

45,839 46,622

1,685 -2,153
-15,780 -5,517
14,703 -2,975

40,541 60,255

592,844.00 616,505.00

-37,044 -88,426

6,179 28,693
- 30,865.00 - 59,733.00

561,979.00 556,772.00
36,619.54 36,503.77
598,598.54 593,275.77
283,618 305,094
57,151 57,910

35.92% 36.96%
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

Free cash flow (FCF) year ending 31 Dec,


### 2012 593,275.77
### Growth rate of FCF, years 1-5 8.00%
### Long-term FCF growth rate 5.00%
### Weighted average cost of capital, WACC 10.70%

### Year 2012 2013 2014


### FCF 640,738 691,997
### Terminal value
### Total 640,738 691,997

### Enterprise value 13,063,058.58


Add back initial cash and marketable 73,697.00
### securities
### Substract out 2012 financial liabilities 1,379,106.00
### Equity value 11,757,649.58
11.76
### Per share (1 million shares outstanding)
nomin 6r buleg biydaalt
case
2015 2016 2017
747,357 807,145 871,717
16,057,944.28
747,357 807,145 16,929,661
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

### Sales growth 10.00%


### Current assets/Sales 15.00%
### Current liabilities/Sales 8.00%
### Net fixed assets/Sales 77.00%
### Costs of goods sold/Sales 50.00%
### Depreciation rate 10.00%
### Interest rate on debt 10.00%
Interest paid on cash and marketable 8.00%
### securities
### Tax rate 40.00%
### Dividend payout ratio 40.00%
nomin 6r buleg
biydaalt
case
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

Year 0 1 2 3
### Income statement
### Sales 1,000.00 1,100.00 1,210.00 1,331.00
### Costs of goods sold - 500.00 - 550.00 - 605.00 - 665.50
### Interest payments on debt - 32.00 - 32.00 - 32.00 - 32.00
Interest earned on cash and 6.00 9.00 14.00 20.00
### marketable securities
### Depreciation - 100.00 - - -
### Profit before tax 374.00 622.85 587.00 653.50
### Taxes - 149.60 - 249.14 - 270.37 - 300.53
### Profit after tax 224.40 373.71 316.63 352.97
### Dividends - 89.76 - 149.48 - 162.22 - 180.32
### Retained earnings 134.64 224.23 154.40 172.65
nomin 6r buleg
biydaalt
case
4 5

1,464.10 1,610.51
- 732.05 - 805.26
- 32.00 - 32.00
26.00 33.00
- -
726.05 806.26
- 333.46 - 369.85
392.59 436.40
- 200.08 - 221.91
192.51 332.87
FIN-449 Төслийн ба компанийн санхүүгийн загварчлал
###

Year 0 1 2 3
Balance sheet
### Assets
### Cash and marketable securities 80.00 144.00 213.00 289.00
### Current assets 150.00 165.00 181.50 199.65
### Fixed assets
### At cost 1,070.00 847.00 931.70 1,024.87
### Depreciation - 300.00 - - -
### Net fixed assets 770.00 847.00 931.70 1,024.87
Total assets 1,000.00 1,156.00 1,326.20 1,513.52

### Liabilities and equity


### Current liabilities 80.00 88.00 96.80 106.48
### Debt 320.00 320.00 320.00 320.00
### Stock 450.00 450.00 450.00 450.00
### Accumulated retained earnings 150.00 298.00 459.40 637.04
Total liabilities and equity 850.00 858.00 866.80 876.48
nomin 6r
buleg
biydaalt
case
4 5

371.00 459.00
219.62 241.58

1,127.36 1,240.09
- -
1,127.36 1,240.09
1,717.97 1,940.67

117.13 128.84
320.00 320.00
450.00 450.00
830.84 1,041.83
887.13 898.84

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