Look up the primary SIC Code for your selected publicly traded company, and find 5 (or more) other publicly traded companies in the same industry segment for your analysis using the Opportunity Engineering Spreadsheet (it has data from a number of years ago).

Find the Beta, Operating Cashflow, and Enterprise Value of the companies for your analysis. Compare the 20 year treasury bond rate - 2% to the current rates on treasury bills (or notes) on the treasury yield curve. Calculate the Market Return on the Standard & Poor's 500 over the last year (or so).

M8 : fx A B D E F G H 1 K L M Q o R S T U V w X Growth Value Calculated from CAPM 1 2 Input 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Input 21 Input 22 23 Company Ford Dell Toyota Apple Hewlett Packard Textron Infosys Amgen Microsoft IBM Raytheon Pfizer Boeing EDS General Motors BETA B(Rm-Rf) 1.99 16.14% 1.53 12.36% 0.53 4.25% 1.32 10.69% 2.03 16.45% 1.51 12.27% 1.91 15.43% 1.77 14.33% 1.01 8.18% 1.59 12.84% 0.54 4.41% 0.98 7.94% 0.59 4.81% 0.97 7.86% 1.18 9.54% Rf 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% Input Input GROWTH TO CASH MARKET VALUE VALUE OPERATIONS ICC FLOW CAP OPERATIONS GROWTH MULTIPLE 20.5% $ 0.4 $ 17.8 $ 1.85 $ 16 8.62 16.8% $ 4.8 $ 166.2 $ 28.90 $ 137 4.75 8.7% $ 3.2 $ 189.9 $ 37.07 $ 153 4.12 15.1% $ 4.8 $ 161.0 $ 32.10 $ 129 4.02 20.9% $ 9.3 $ 131.2 $ 44.60 $ 87 1.94 16.7% $ 1.0 $ 16.7 $ 6.00 $ 11 1.78 19.8% $ 1.9 $ 24.2 $ 9.66 $ 15 1.51 18.7% $ 5.1 $ 63.2 $ 27.30 $ 36 1.32 12.6% $ 17.8 $ 291.0 $ 141.50 $ 150 1.06 17.2% $ 15.0 S 156.0 $ 87.11 $ 69 0.79 8.8% $ 1.8 $ 28.1 $ 20.90 $ 7 0.34 12.3% $ 17.4 $ 164.2 $ 141.00 $ 23 0.16 9.2% $ 7.4 $ 73.4 $ 79.80 $ (6) (0.08) 12.3% $ 2.0 $ 12.5 $ 16.31 $ (4) (0.23) 13.9% $ (5.5) $ 21.0 $ (39.45) $ 60 (1.53) RISK FREE MARKET RETURN Rm - Rf 4.40% 12.50% 8.10% 24 25 Implied Cost of Capital = Rf + BETA (Rm - Rf) Operations Value = Cash Flow / ICC Growth Value = Market Capitalization - Operations Value 26 27 28 29 30 31 Rate Ranked Sheet3 D9 fx =$C$22*C9 A D E F G H L M P Q R S T U V w X Y Z AA AB AC AD AE AF AG Growth Value Calculated from CAPM 1 2 Input Company 3 4 4.25% Ford Dell Toyota Apple Hewlett Packard Textron Infosys Amgen Microsoft IBM Raytheon Pfizer Boeing EDS General Motors BETA B(Rm-Rf) 1.99 16.14% 1.53 12.36% 0.53 1.32 10.69% 2.03 16.45% 1.5112.27% 1.91 15.43% 1.77 14.33% 1.01 8.18% 1.59 12.84% 0.54 4.41% 0.98 7.94% 0.59 4.81% 0.97 7.86% 1.18 9.54% Rf 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Input 21 Input 22 23 24 25 Input Input GROWTH TO CASH MARKET VALUE VALUE OPERATIONS ICC FLOW CAP OPERATIONS GROWTH MULTIPLE 20.5% S 0.4 $ 17.8 $ 1.85 S 16 8.62 16.8% $ 4.8 $ 166.2 $ 28.90 S 137 4.75 8.7% $ 3.2 $ 189.9 $ 37.07 $ 153 4.12 15.1% $ 4.8 $ 161.0 $ 32.10 $ 129 4.02 20.9% $ 9.3 $ 131.2 $ 44.60 $ 87 1.94 16.7% $ 1.0 $ 16.7 $ 6.00 $ 11 1.78 19.8% $ 1.9 $ 24.2 $ 9.66 S 15 1.51 18.7% $ 5.1 $ 63.2 $ 27.30 $ 36 1.32 12.6% $ 17.8 $ 291.0 $ 141.50 $ 150 1.06 17.2% $ 15.0 $ 156.0 $ 87.11 $ 69 0.79 8.8% $ 1.8 $ 28.1 S 20.90 $ 7 0.34 12.3% $ 17.4 $164.2 $ 141.00 S 23 0.16 9.2% $ 7.4 $ 73.4 $ 79.80 S (6) (0.08) 12.3% $ 2.0 $ 12.5 $ 16.31 (4) (0.23) 13.9% $ (5.5) $ 21.0 $ (39.45) $ 60 (1.53) 4.40% 4.40% 4.40% 4.40% 4.40% RISK FREE MARKET RETURN Rm - Rf 4.40% 12.50% 8.10% Implied Cost of Capital = Rf + BETA (Rm - Rf) Operations Value = Cash Flow / ICC Growth Value = Market Capitalization - Operations Value 26 27 28 Source: Profiting from Perhaps: Unleashing Opportunities for Growth Alexander B. van Putten, Adjunct Professor, The Wharton School SEC.gov | Company Search Page 29 30 31 32 33 34 35 36 37 Rate Ranked Sheet3 M8 : fx A B D E F G H 1 K L M Q o R S T U V w X Growth Value Calculated from CAPM 1 2 Input 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Input 21 Input 22 23 Company Ford Dell Toyota Apple Hewlett Packard Textron Infosys Amgen Microsoft IBM Raytheon Pfizer Boeing EDS General Motors BETA B(Rm-Rf) 1.99 16.14% 1.53 12.36% 0.53 4.25% 1.32 10.69% 2.03 16.45% 1.51 12.27% 1.91 15.43% 1.77 14.33% 1.01 8.18% 1.59 12.84% 0.54 4.41% 0.98 7.94% 0.59 4.81% 0.97 7.86% 1.18 9.54% Rf 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% Input Input GROWTH TO CASH MARKET VALUE VALUE OPERATIONS ICC FLOW CAP OPERATIONS GROWTH MULTIPLE 20.5% $ 0.4 $ 17.8 $ 1.85 $ 16 8.62 16.8% $ 4.8 $ 166.2 $ 28.90 $ 137 4.75 8.7% $ 3.2 $ 189.9 $ 37.07 $ 153 4.12 15.1% $ 4.8 $ 161.0 $ 32.10 $ 129 4.02 20.9% $ 9.3 $ 131.2 $ 44.60 $ 87 1.94 16.7% $ 1.0 $ 16.7 $ 6.00 $ 11 1.78 19.8% $ 1.9 $ 24.2 $ 9.66 $ 15 1.51 18.7% $ 5.1 $ 63.2 $ 27.30 $ 36 1.32 12.6% $ 17.8 $ 291.0 $ 141.50 $ 150 1.06 17.2% $ 15.0 S 156.0 $ 87.11 $ 69 0.79 8.8% $ 1.8 $ 28.1 $ 20.90 $ 7 0.34 12.3% $ 17.4 $ 164.2 $ 141.00 $ 23 0.16 9.2% $ 7.4 $ 73.4 $ 79.80 $ (6) (0.08) 12.3% $ 2.0 $ 12.5 $ 16.31 $ (4) (0.23) 13.9% $ (5.5) $ 21.0 $ (39.45) $ 60 (1.53) RISK FREE MARKET RETURN Rm - Rf 4.40% 12.50% 8.10% 24 25 Implied Cost of Capital = Rf + BETA (Rm - Rf) Operations Value = Cash Flow / ICC Growth Value = Market Capitalization - Operations Value 26 27 28 29 30 31 Rate Ranked Sheet3 D9 fx =$C$22*C9 A D E F G H L M P Q R S T U V w X Y Z AA AB AC AD AE AF AG Growth Value Calculated from CAPM 1 2 Input Company 3 4 4.25% Ford Dell Toyota Apple Hewlett Packard Textron Infosys Amgen Microsoft IBM Raytheon Pfizer Boeing EDS General Motors BETA B(Rm-Rf) 1.99 16.14% 1.53 12.36% 0.53 1.32 10.69% 2.03 16.45% 1.5112.27% 1.91 15.43% 1.77 14.33% 1.01 8.18% 1.59 12.84% 0.54 4.41% 0.98 7.94% 0.59 4.81% 0.97 7.86% 1.18 9.54% Rf 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 4.40% 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Input 21 Input 22 23 24 25 Input Input GROWTH TO CASH MARKET VALUE VALUE OPERATIONS ICC FLOW CAP OPERATIONS GROWTH MULTIPLE 20.5% S 0.4 $ 17.8 $ 1.85 S 16 8.62 16.8% $ 4.8 $ 166.2 $ 28.90 S 137 4.75 8.7% $ 3.2 $ 189.9 $ 37.07 $ 153 4.12 15.1% $ 4.8 $ 161.0 $ 32.10 $ 129 4.02 20.9% $ 9.3 $ 131.2 $ 44.60 $ 87 1.94 16.7% $ 1.0 $ 16.7 $ 6.00 $ 11 1.78 19.8% $ 1.9 $ 24.2 $ 9.66 S 15 1.51 18.7% $ 5.1 $ 63.2 $ 27.30 $ 36 1.32 12.6% $ 17.8 $ 291.0 $ 141.50 $ 150 1.06 17.2% $ 15.0 $ 156.0 $ 87.11 $ 69 0.79 8.8% $ 1.8 $ 28.1 S 20.90 $ 7 0.34 12.3% $ 17.4 $164.2 $ 141.00 S 23 0.16 9.2% $ 7.4 $ 73.4 $ 79.80 S (6) (0.08) 12.3% $ 2.0 $ 12.5 $ 16.31 (4) (0.23) 13.9% $ (5.5) $ 21.0 $ (39.45) $ 60 (1.53) 4.40% 4.40% 4.40% 4.40% 4.40% RISK FREE MARKET RETURN Rm - Rf 4.40% 12.50% 8.10% Implied Cost of Capital = Rf + BETA (Rm - Rf) Operations Value = Cash Flow / ICC Growth Value = Market Capitalization - Operations Value 26 27 28 Source: Profiting from Perhaps: Unleashing Opportunities for Growth Alexander B. van Putten, Adjunct Professor, The Wharton School SEC.gov | Company Search Page 29 30 31 32 33 34 35 36 37 Rate Ranked Sheet3