Name of the Company

Study Period
Growth in Earnings
Stage - 1
Stage - 2
Stage - 3
Applicable Tax Rate
Cost of Capital (WACC)
Cost of Equity (Ke)
No. of Outstanding Shares 1

S No Particulars 2020 2021 2022

1 Earnings before Interest & Tax (EBIT)
1.1 Less: Adjusted Tax [EBIT * t%] 0 0 0

1.2 Add: Depreciation

1.3 Less: Capital Expenditures

1.4a Less: Increase in Net Working Capital

1.4b Add: Decrease in Net Working Capital

2 Free Cash Flows to Firm [FCFF] 0.00 0.00 0.00

2.1 Less: Tax-Adjusted Interest [interest * (1-t)]
2.2 Add: Increase in Net Debt

3 Free Cash Flows to Equity [FCFE] 0.00 0.00 0.00

Forecast Year - - -
PVIF @ WACC
Value from DCF using FCFF
Intrinsic Value per share

PVIF @ Ke
Value from DCF using FCFE
Intrinsic Value per share
2023 2024F 2025F 2026F 2027F

0 0 0 0 0

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

- 1 2 3 4
1.00 1.00 1.00 1.00
0.00
0.00

1.00 1.00 1.00 1.00

0.00
0.00