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  • Relative Valuation Model

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    Ayush Kapoor
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    The document presents financial information for Google including its income statement for FY 2019, Q3 2020, and Q3 2019 showing metrics like revenue, costs, earnings, and shares outstanding. It also lists Google's share price and market capitalization as well as comparative valuation metrics like EV/Revenue, EV/EBITDA, and EV/EBIT compared to other companies. Financial information is also presented for a sample company ABC including its revenue, EBITDA, debt, cash, market cap, and enterprise value.

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    Relative valuation model

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    The document presents financial information for Google including its income statement for FY 2019, Q3 2020, and Q3 2019 showing metrics like revenue, costs, earnings, and shares outstanding. It also lists Google's share price and market capitalization as well as comparative valuation metrics like EV/Revenue, EV/EBITDA, and EV/EBIT compared to other companies. Financial information is also presented for a sample company ABC including its revenue, EBITDA, debt, cash, market cap, and enterprise value.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    9 views6 pages

    Relative Valuation Model

    Uploaded by

    Ayush Kapoor
    The document presents financial information for Google including its income statement for FY 2019, Q3 2020, and Q3 2019 showing metrics like revenue, costs, earnings, and shares outstanding. It also lists Google's share price and market capitalization as well as comparative valuation metrics like EV/Revenue, EV/EBITDA, and EV/EBIT compared to other companies. Financial information is also presented for a sample company ABC including its revenue, EBITDA, debt, cash, market cap, and enterprise value.

    Copyright:

    © All Rights Reserved
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    of 6

    ABC Google

    Income statement
    Particulars FY-19 Q3'20 Q3'19 LTM
    Revenue 161,857 125,629 115,782 171,704
    COGS 71,896 58,652 50,876 79,672
    Gross profit 89,961 66,977 64,906 92,032
    Opex 42,252 31,432 29,876 43,808
    EBITDA 47,709 35,545 35,030 48,224
    D&A 11,781 9,972 8,368 13,385
    EBIT 35,928 25,573 26,662 34,839
    Other income -3,697 -3,820 -2,259 -5,258
    Interest income -
    Interest expense -
    PBT 39,625 29,393 28,921 40,097
    Tax 5,282 4,351 5,249 4,384
    PAT 34,343 25,042 23,672 35,713

    EPS - Basic 49.97 37.02 52.80


    EPS - Diluted 48.60 35.99 51.33

    Shares outstanding 687.29 676.43 676.43


    Options 19.39 19.39 19.39
    706.68 695.82 695.82
    EV/Revenue EV/EBITDA EV/EBIT
    Google 7.09 24.06 31.95
    Share price 1,787.02 Apple
    Mcap 1,262,852 FB
    Debt 4,554 Microsoft
    Minority interest 0 Avg industry 7.09 24.06 31.95
    Total cash, cash equivalents 119,675
    EV 1,147,731
    ABC Financials EV
    EV/Revenue 7.09 Revenue 300 2,127.31
    EV/EBITDA 24.06 EBITDA 25 601.42
    EV/EBIT 31.95 EBIT 20 638.91
    P/E - Bassic 35.76 NI 5
    P/E - Diluted 36.77
    Debt 50 50
    MI
    Cash 15 15
    Mcap 555.16 400
    EV 620.16 435

    Authorised
    Shares issue 10 10
    Share price 55.52 40
    P/E - Bassic P/E - Diluted
    35.76 36.77

    35.76 36.77
    + Mcap 10 1,000,000 10,000,000 12 12,000,000
    + Pref.Share -
    + LT Debt 5,000,000 5,000,000
    + ST Debt -
    + Minority Interest 1,000,000 1,000,000
    - Cash 500,000 500,000
    = EV 15,500,000

    Net Debt 4,500,000


    Investment banker
    Research Revenue
    Analyst - COGS
    Risk management GP
    Consultancy - Opex Salary Vendor exp
    EBITDA
    - D&A
    Capital EBIT
    Debt - Interest
    Pref. Sha PBT
    Eq TAX
    PAT
    - Divdend to Pref. Shares
    Net Income to E
    10,000,000 10 1,000,000
    2 2,000,000
    20 20,000,000
    18,000,000

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