搜索
Model10-08ValuationswithValueDriverPatternsforIndustryStagesIaIbIIIIIIVVVIVIIStrategicVisionInnovationHighGrowthGrowthMaturityDeclineRenewalInternetBiotechNewTelecomFoodAutoSteelOil1R0$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,0002gs60%60%40%30%14%8%0%0%3m-1%2%25%15%12%10%1%4%4T0%35%35%35%35%35%35%35%5n20201515105006k20%20%15%13%9%9%10%10%7Is-5%0%15%12%8%6%0%0%8Value*$34,527$36,842$21,980$4,902$1,331$714$65$2609Value/NOI0(1-T)#########2,834135501711101010Value/R034.5336.8421.984.901.330.710.070.26Where:R0=baseyearrevenuesgs=growthrateofrevenuesduringsupernormalperiodm=netoperatingincomemarginT=taxraten=numberofsupernormalgrowthyearsk=costofcapitalIs=netinvestmentrateduringsupernormalperiodNOI0=netoperatingincomeforbaseyear=R0m*Zerogrowthfortheterminalperiod