Question: IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development strategy, in late 2018 you

IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development strategy, in late 2018 you initiate discussions with IDXs founder about the possibility of acquiring the business at the end of 2018. Estimate the value of IDX per share using a discounted FCF approach and the following data:

Debt: $30 million

Excess cash: $110 million

Shares outstanding: 50 million

Expected FCF in 2019: $45 million

Expected FCF in 2020: $50 million

Future FCF growth rate beyond 2020: 5%

Weighted-average cost of capital: 9.4%

IDX's Enterprise Value=?

IDX's Equity Value=?

Value of one share of IDX=?

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