Identifying Comparables and Valuation Using PB and PE

Panera Bread Companys book value per share is $26.96 and its forward earnings estimate per share is $6.46. The following information is also available for Panera and a peer group of companies from the restaurant sector.

Ticker			Market Cap ($ mil)	PB Current	Forward PE (FY1)	EPS 5-Year Historical Growth Rate	ROE (T 4Q)	Debt-to- Equity
Panera Bread (PNRA)			-	-	-	26.02%	24.71%	0.00
Tim Hortons (THI)			$8,590	7.31	17.60	15.21%	36.73%	0.47
Papa John's Intl (PZZA)			$1,930	11.18	25.07	17.13%	36.19%	0.64
Einstein Noah (BAGL)			$272	7.59	14.35	2.52%	19.91%	3.28
Chipotle Mexican Grill (CMG)			$16,430	11.25	40.97	33.44%	22.30%	0.00
Dunkin' Brands (DNKN)			$5,110	13.32	26.62	0.00%	39.17%	4.75
Buffalo Wild Wings (BWLD)			$2,740	6.11	31.19	21.97%	16.68%	0.00
Sonic (SONC)			$1,180	15.17	21.65	(3.86)%	53.69%	6.12
Texas Roadhouse (TXRH)			$1,950	3.32	21.11	16.88%	14.07%	0.09

b. Assume that you use as comparables the following set of companies: THI, PZZA, and CMG. Estimate Paneras equity intrinsic value per share using the PB ratio from these peer companies.

Round answer to two decimal places.

$Answer

c. Use the same comparables as in part b and estimate Paneras equity intrinsic value per share using the PE ratio from these peer companies.

Round answer to two decimal places.

$Answer