Vous êtes sur la page 1sur 3

HOW FAMOUS TURNS ANALYST INPUTS INTO DCF VALUES

Green Is For Go -- Analyst Input


Gold Is For Payoff -- FAMOUS Output

STEP 1
ANALYST ENTERS
PAST FINANCIALS

STEP 2
MODEL
GENERATES
PAST
NOPAT
IC
AND THEN
FCF AND EP

PAST

FUTURE

INCOME STATEMENT

INCOME STATEMENT

BALANCE SHEET

BALANCE SHEET

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

PAST

FUTURE

NOPAT
INVESTED CAPITAL

NOPAT
INVESTED CAPITAL
AND THEIR DRIVERS

FCF AND EP

STEP 3
MODEL
GENERATES
PAST
DRIVERS

Work Flow -- Page 1 of 2

PAST

FUTURE

ACTUAL
DRIVERS

ESTIMATED
DRIVERS

IS, BS, SSE, NOPAT, IC, FCF

IS and BS and SSE

STEP 4
BASED ON PAST PERFORMANCE SUMMARY PLUS
ANALYST ESTIMATES FUTURE DRIVERS

FAMOUSTM Financial Analysis Modeling Outstanding Unprotected Software Ver. 13a Copyright 2013

STEP 6
MODEL
GENERATES
FUTURE
NOPAT & IC
AND
THEIR DRIVERS

TAKE TO
NEXT PAGE
DOWN

STEP 5
MODEL
GENERATES
FUTURE
FINANCIALS

Overview of FAMOUS Page 1

HOW FAMOUS TURNS ANALYST INPUTS INTO DCF VALUES

Work Flow -- Page 2 of 2


Green Is For Go -- Analyst Input
Gold Is For Payoff -- FAMOUS Output

TAKEN FROM
PREVIOUS PAGE

FUTURE
NOPAT
INVESTED CAPITAL
AND THEIR DRIVERS
STEP 7
MODEL
GENERATES
FUTURE
FCF
EP
AND
THEIR DRIVERS

STEP 10
MODEL DISCOUNTS
FCF & CV AT WACC
EP & CV AT WACC
TO GENERATE
ENTERPRISE VALUE

FUTURE
FREE CASH FLOW
ECONOMIC PROFIT

STEP 11
MODEL ADDS
EXCESS CASH
OTHER NONOPERATING ASSET VALUE
TO GENERATE
FIRM VALUE

AND THEIR DRIVERS


STEP 8
ANALYST
ESTIMATES
WACC DRIVERS
MODEL
GENERATES WACC
STEP 9
ANALYST
ESTIMATES
CV DRIVERS
MODEL
GENERATES CV

STEP 15
ANALYST REWORKS
STEP 4 THRU STEP 14
UNTIL SATISFIED

ENTERPRISE VALUE

FIRM VALUE

WEIGHTED AVERAGE
COST OF CAPITAL
STEP 12
MODEL DEDUCTS
NONEQUITY VALUES
TO GENERATE
EQUITY VALUE

CONTINUING VALUE

STEP 14
MODEL
GENERATES
INTRINSIC MULTIPLES
INTRINSIC MULTIPLES

FAMOUSTM Financial Analysis Modeling Outstanding Unprotected Software Ver. 13a Copyright 2013

EQUITY VALUE

STEP 13
MODEL DIVIDES BY
SHARES TO GENERATE
INTRINSIC STOCK VALUE
INTRINSIC STOCK VALUE

Overview of FAMOUS Page 2

THE CONTENTS OF EACH FAMOUS DCF WORKSHEET

Physical Layout -- Page 1 of 1

IS INPUT
BS INPUT
SSE INPUT

NOPAT
IC

FCF
EP

WACC
INPUT

CV
INPUT

VALUE

Past and
Estimated
Statements
[Page 1]

Calculate and
Reconcile
Statements
[Page 1]

Calculate and
Reconcile
Statements
[Page 1]

Enter WACC
Drivers
Calculate
WACC
[Page 1]

Enter CV
Drivers
Calculate
CV
[Page 1]

Calculate
Various
Values &
Multiples
[Pages 1]

Calculate and
Estimate
Drivers
[Page 2]

Analysis of
Drivers &
Statements
[Page 2]

Analysis of
Drivers &
Statements
[Page 2]

Estimated
Value-Based
Performance
[Page 2]
Historical
Value-Based
Performance
[Page 3]

Extra
Calculations
[Page 3]

Extra
Calculations
[Page 3]

Extra
Calculations
[Page 3]

Extra
Calculations
[Page 2]

Extra
Calculations
[Page 3]

Extra
Calculation
[Page 2]

Extra
Calculations
[Page 4]

Calculate
Sensitivity
Analyses
[Pages 5-7]
Pages below this line are not printed.

Assistants For
Entering
Statements
(2 pages)

FCF Only
Show and
Understand
(2 pages)

For WACC
Workspace For
Macros
(2 pages)

Green Is For Go -- Analyst Input


Gold Is For Payoff -- FAMOUS Output

FAMOUSTM Financial Analysis Modeling Outstanding Unprotected Software Ver. 13a Copyright 2013

Overview of FAMOUS Page 3