Ferrari, valuation, EBE margin, average annual growth rate, terminal value, cost of capital, financial structure
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This document presents a valuation analysis of Ferrari, including the calculation of EBE margin, average annual growth rate, and terminal value. It also discusses the company's financial structure and cost of capital. The analysis is based on data from Annex 4 and Annex 5.
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[...] Societal Evaluation - Ferrari 1. What year does the most recent known reliable net banking and financial debt amount date back to? 2017 2018 2019 2020 2. Consequently, what will be the first flow you will consider in updating the available cash flow? The first cash flow to be updated will be that of 2019, so that there is no break between the flows and the date of the last known net debt with reliability 3. Placing yourself on October and as there is no reason to believe that the available cash flows of Ferrari are not roughly evenly distributed throughout the year, which exponent to will you use to update the 2019 flow? [...]
[...] Capitalisation boursière/EBE 2,1 40. Calculate the 2021 EBE multiple of Hermès, with one decimal place. 21,4 41. Calculate the 2019 operating result multiple of Daimler, with one decimal place. Operating profit multiple = market capitalization + net debt / (operating profit * - tax rate)) 7 42. Calculate the 2020 operating profit multiple of LVMH, with one decimal place. 18 43. Calculate the 2019 P/E ratio of FiatChrysler FCA, with one decimal place. PER = market capitalization/net income 3,9 44. [...]
[...] Calculate the 2019 EBE margin for Ferrari and the luxury companies in Annex and calculate the average annual growth rate 2018-2021 for revenue for Ferrari and the luxury companies in Annex 4. Ferrari is dissimilar on these two criteria to luxury companies 38. As a consequence of your answer to the previous question . You decide that the listed companies in the luxury sector are relevant comparables for Ferrari 39. Calculate the 2018 EBE multiple of BMW, with one decimal place. [...]
[...] What can explain the situation you noticed in the previous question? A market aberration A profit margin and EBE rate that are very different from those of the other companies in this sample A growth rate that is much higher than that of the other companies in the sample A financial structure that is very different 47. Compare the EBE margin rates of the company you identified to those of Ferrari. They are very different They are different They are similar They are the same 48. [...]
[...] What is the number of shares you retain to calculate the value of the Ferrari share? (in millions with one decimal place) 188,6 23. 90 24. The change in the need for working capital in 2029 25. If you simulate a 10% variation in the amount of each of the following parameters, which one has the least impact on the value of the Ferrari share? ? The infinite growth rate The cost of capital The amount of the terminal cash flow The corporate tax rate 26. [...]
