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1996 Revenue Growth Rate Ebitda Margin Net Working Capital Percent of Revenue
1996 Revenue Growth Rate Ebitda Margin Net Working Capital Percent of Revenue
92.42 95.20
11.27% 11.27%
144.11 148.44
17.57% 17.57%
2001E 2002P 2003P
Income Statement
Interest 4.30%
Revolver 7.300% 2.12 3.06
Term Loan 8.0500% 10.06 10.06
Notes 10.88% 19.03 19.03
Pre-Tax Income 14.98 20.85
Taxes 40.00% 5.99 8.34
Balance Sheet
Average
Median
Equity D/(D+E) Asset Beta EBITDA Multiple
1.01 7.41
0.99 7.31
2001E 2002P 2003P
Capital Cash Flow 18.37 33.76
Terminal Value
(1+g)/(pre-tax WACC-g)
Total Value
Initial Debt
Equity Value
2004P 2005P 2006P
37.95 42.37 54.42
630.82
11.59
488.33
317.50
170.83
Enterprise Value
Growth Rate
#REF! 2.0% 2.5% 3.0% 3.5%
Pre-tax WACC