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Multiples Valuation Template

		(in millions)	(in millions)	(in millions)	(in millions)
							Solution Legend
							Downloaded data
							Formula/Calculation/Analysis required
	Peer Companies:	Peer 1	Peer 2	Peer 3	Your Company
	Ticker
	PERIOD ENDING
	From Income Statement and Balance Sheet
	Balance Sheet
	Insert Relevant Items here
	Income Statement
	Insert Relevant Items here
	Calculated Multiples
	EV/EBITDA Multiple
	P/E Multiple
	Market to Book Multiple
	Price/Revenue Multiple
	Your Company Valuation
						Your Company
	Enterprise Value based on EV/EBITDA multiple
	Plus: Your Company Cash					$0
	Less: Your Company Interest-bearing debt					$0
	Total Equity value based on EBITDA
	Shares Outstanding (millions)					-
	Equity value per share
	Equity value per share based on P/E multiple
	Total Equity value based on P/E multiple
	Plus: Your Company Interest-bearing debt					$0
	Less: Your Company Cash and equivalents					$0
	Enterprise value based on P/E multiple
	Equity value per share based on MTB Ratio
	Total Equity value based on MTB ratio
	Plus: Your Company Interest-bearing debt					$0
	Less: Your Company Cash and equivalents					$0
	Enterprise value based on MTB ratio
	Equity value per share based on P/Revenue ratio
	Total Equity value based on P/Revenue ratio
	Plus: Your Company Interest-bearing debt					$0
	Less: Your Company Cash and equivalents					$0
	Enterprise value based on P/Revenue ratio

This exam requires you, among other things, to estimate the stock price for Virgin America (Ticker: VA), and provide the analysis as requested. You will need to use “Sources of Financial Data” listed in Course Content to obtain the necessary financial info/statements for Virgin America Inc., to identify its peer companies and to obtain pricing and financial information for them.   A. Choose several peer companies for Virgin America Inc. and justify your choice. Choose several valuation multiples and using comparable ratios of peer companies (as we did in Project 2 and discussed in Conferences) and Virgin America Inc. financial information from prospectus, estimate the company’s equity value on April 3, 2016. It is required for this question to list your major assumptions and properly reference sources of information that you used in your calculations.

Using the same company as in Module 1 assignment and its peers, find multiple ratios of peer companies and then estimate your company’s equity value and enterprise value.