SEMINAR OF FINANCIAL MODELING

PROFESSOR: VICTOR TORRES GOMEZ

FINAL PROJECT

Due Date: December 9th 2020 at 11:59pm

GENERAL INSTRUCTIONS

- You can solve the case individually or in groups of two students.

- The final project will be a valuation of a company, preferably from Latin America.
- You should send an Excel file with your valuation by the due date
- You can include a pdf file with any assumption or comment or include them in the
Excel file.
- Please make sure than you are presenting all your assumptions.
- Indicate the sources of your information and assumptions, if using comparables

VALUATION INSTRUCTIONS

- The objective of your valuation is to determine the Enterprise Value of the company.
- Your valuation should consider a bottom-up estimation of revenues and costs.
- If there is no available information on Costs of Goods Sold, you may consider a
reasonable assumption for the bottom-up calculation.
- If there is no available information on Selling, General & Administrative Expenses,
you may consider a top-down approach for this estimation.
- Keep in mind that your assumptions and calculations will analyze against the Annual
Financial Statements and public available information of the chosen company
- You should model the depreciation considering the different types of fixed asset, and
the amortization taking into account the different intangibles.
- You should model the working capital applying similar techniques as the ones
explained in class.
- You should model de Debt consider the financial requirements of the company.
- Your valuation may consider a WACC approach or an APV approach, indicating your
assumptions to calculate the proper discount rates.