Using the information in Exercise 20-40 for Yum, Inc. Required: Determine the valuation of the company at
Question:
Required:
Determine the valuation of the company at the end of 2013 using each of the following three methods. Assume earnings and cash flows for the coming 10 years are all equal to the earnings and cash flows in 2013 and the appropriate free cash flow multiple is 23.4, while the earnings multiple is 21.7.
a. Market capitalization
b. Enterprise Value
c. Free Cash Flow Multiple
Free Cash Flow
Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. Unlike earnings or net income, free cash flow is a measure of profitability that excludes the...
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a Market capitalization 443000000 shares x 74 per share 32782 million b Enterpr...View the full answer
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Related Book For 
Cost Management A Strategic Emphasis
ISBN: 978-0078025532
6th edition
Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins
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