For Catherine Owens only
meriiii123
Inttrinsicvalue.xlsxAppendix A
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18823590 | 20329477.2 | 21955835.376 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 17,773,194.22 | $ 18,123,925.75 | $ 18,481,578.52 | |
| Intrisic Value | $ 54,378,698.49 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 17864981.25 | 18311605.78125 | 18769395.9257813 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 16,868,077.85 | $ 16,324,973.84 | $ 15,799,356.23 | |
| Intrisic value | $ 48,992,407.92 | |||
| Total present value of JNJ | $ 103,371,106.41 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 10,169,106.41 | |||
| Market Cap | 372billion | |||
Appendix B
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 19172175 | 21089392.5 | 23198331.75 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 18,102,327.45 | $ 18,801,397.59 | $ 19,527,464.22 | |
| Intrisic Value | $ 56,431,189.26 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 19172175 | 21089392.5 | 23198331.75 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 18,102,327.45 | $ 18,801,397.59 | $ 19,527,464.22 | |
| Intrisic value | $ 56,431,189.26 | |||
| Total present value of JNJ | $ 112,862,378.50 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 19,660,378.52 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 19,660,378.52 | ||
| Change | 93% |
Appendix C
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 15686325 | 14117692.5 | 12705923.25 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 14,810,995.18 | $ 12,586,059.55 | $ 10,695,357.94 | |
| Intrisic Value | $ 38,092,412.67 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 15686325 | 14117692.5 | 12705923.25 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 14,810,995.18 | $ 12,586,059.55 | $ 10,695,357.94 | |
| Intrisic value | $ 38,092,412.67 | |||
| Total present value of JNJ | $ 76,184,825.34 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 19,660,378.52 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 19,660,378.52 | ||
| Change | 67% |
Appendix D
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18823590 | 20329477.2 | 21955835.38 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 17,773,194.22 | $ 18,123,925.75 | $ 18,481,578.52 | |
| Intrisic Value | $ 54,378,698.49 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18039273.75 | 18670648.33 | 19324121.02 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 17,032,644.46 | $ 16,645,063.75 | $ 16,266,302.50 | |
| Intrisic value | $ 49,944,010.71 | |||
| Total present value of JNJ | $ 104,322,709.20 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 11,120,709.20 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 11,120,709.20 | ||
| Change | 9% |
Appendix E
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18823590 | 20329477.2 | 21955835.38 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 17,773,194.22 | $ 18,123,925.75 | $ 18,481,578.52 | |
| Intrisic Value | $ 54,378,698.49 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 17690688.75 | 17956049.08 | 18225389.82 |
| WACC | 0.0591 | |||
| PVIF | 0.9441979039 | 0.8915096817 | 0.8417615727 | |
| Present value | $ 16,703,511.24 | $ 16,007,991.60 | $ 15,341,432.80 | |
| Intrisic value | $ 48,052,935.63 | |||
| Total present value of JNJ | $ 102,431,634.10 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 9,229,634.12 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 9,229,634.12 | ||
| Change | -9% |
Appendix F
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18823590 | 20329477.2 | 21955835.38 |
| WACC | 0.0791 | |||
| PVIF | 0.9266981744 | 0.8587695064 | 0.7958201339 | |
| Present value | $ 17,443,786.49 | $ 17,458,335.10 | $ 17,472,895.85 | |
| Intrisic Value | $ 52,375,017.44 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 17864981.25 | 18311605.78 | 18769395.93 |
| WACC | 0.0791 | |||
| PVIF | 0.9266981744 | 0.8587695064 | 0.7958201339 | |
| Present value | $ 16,555,445.51 | $ 15,725,448.66 | $ 14,937,063.18 | |
| Intrisic value | $ 47,217,957.35 | |||
| Total present value of JNJ | $ 99,592,974.79 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 6,390,974.79 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 6,390,974.79 | ||
| Change | -37% |
Appendix G
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18823590 | 20329477.2 | 21955835.38 |
| WACC | 0.0391 | |||
| PVIF | 0.9623712828 | 0.926158486 | 0.8913083303 | |
| Present value | $ 18,115,282.46 | $ 18,828,317.83 | $ 19,569,418.97 | |
| Intrisic Value | $ 56,513,019.25 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 17866981.25 | 18311605.78 | 18769395.93 |
| WACC | 0.0391 | |||
| PVIF | 0.9623712828 | 0.926158486 | 0.8913083303 | |
| Present value | $ 17,194,669.67 | $ 16,959,449.09 | $ 16,729,318.95 | |
| Intrisic value | $ 50,881,512.95 | |||
| Total present value of JNJ | $ 107,394,532.20 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 14,192,532.21 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 14,192,532.21 | ||
| Change | 40% |
Appendix H
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 19172175 | 21089392.5 | 23198331.75 |
| WACC | 0.0791 | |||
| PVIF | 0.9266981744 | 0.8587695064 | 0.7958201339 | |
| Present value | $ 17,766,819.57 | $ 18,110,927.19 | $ 18,461,699.48 | |
| Intrisic Value | $ 54,339,446.24 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 18039273.75 | 18670648.33 | 19324121.02 |
| WACC | 0.0791 | |||
| PVIF | 0.9266981744 | 0.8587695064 | 0.7958201339 | |
| Present value | $ 16,716,962.05 | $ 16,033,783.45 | $ 15,378,524.58 | |
| Intrisic value | $ 48,129,270.08 | |||
| Total present value of JNJ | $ 102,468,716.30 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ 9,266,716.32 | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ 9,266,716.32 | ||
| Change | -9% |
Appendix I
| Intrinsic Value | ||||
| Cash flow from operation | $ 22,201,000.00 | |||
| Less:Capex | $ 5,626,000.00 | |||
| Cashflow from Operations less Capex | $ 16,575,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 854,250.00 | |||
| FCF | $ 17,429,250.00 | |||
| WACC | 0.0591 | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 15686325 | 14117692.5 | 12705923.25 |
| WACC | 0.0391 | |||
| PVIF | 0.9623712828 | 0.926158486 | 0.8913083303 | |
| Present value | $ 15,096,068.71 | $ 13,075,220.71 | $ 11,324,895.24 | |
| Intrisic Value | $ 39,496,184.66 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | 17429250 | 17690688.75 | 17956049.08 | 18225389.82 |
| WACC | 0.0791 | |||
| PVIF | 0.9266981744 | 0.8587695064 | 0.7958201339 | |
| Present value | $ 16,393,928.97 | $ 15,420,107.41 | $ 14,504,132.17 | |
| Intrisic value | $ 49,899,599.83 | |||
| Total present value of JNJ | $ 89,395,784.49 | |||
| Total liabilities (debt) | $ 93,202,000.00 | |||
| Total present value of JNJ | $ (3,806,215.51) | |||
| Market Cap | 372billion | |||
| base | current | |||
| Intrinsic | $ 10,169,106.41 | $ (3,806,215.51) | ||
| Change | -63% |
Appendix J
| Intrinsic Value | ||||
| Cash flow from operation | $ 3,056,000.00 | |||
| Less:Capex | $ 169,000.00 | |||
| Cashflow from Operations less Capex | $ 2,887,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 105,820.00 | |||
| FCF | $ 2,992,820.00 | |||
| WACC | 6.25% | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | $ 2,992,820.00 | $ 3,232,245.60 | $ 3,490,825.25 | $ 3,770,091.27 |
| WACC | 6.25% | |||
| PVIF | 0.9411764706 | 0.8858131488 | 0.833706493 | |
| Present value | $ 3,042,113.51 | $ 3,092,218.91 | $ 3,143,149.57 | |
| Intrisic Value | $ 9,277,481.98 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | $ 2,992,820.00 | $ 3,067,640.50 | $ 3,144,331.51 | $ 3,222,939.80 |
| WACC | 6.25% | |||
| PVIF | 0.9411764706 | 0.8858131488 | 0.833706493 | |
| Present value | $ 2,887,191.06 | $ 2,785,290.20 | $ 2,686,985.84 | |
| Intrisic value | $ 8,359,467.09 | |||
| Total present value of JNJ | $ 17,636,949.07 | |||
| Total liabilities (debt) | $ 11,964,000.00 | |||
| Total present value of JNJ | $ 5,672,949.07 | |||
| Market Cap | 59billion |
Appendix K
| Intrinsic Value | ||||
| Cash flow from operation | $ 15,827,000.00 | |||
| Less:Capex | $ 13,474,000.00 | |||
| Cashflow from Operations less Capex | $ 2,353,000.00 | |||
| Add: Interest expense*(1-tax rate) | $ 1,237,040.00 | |||
| FCF | $ 3,590,040.00 | |||
| WACC | 7.05% | |||
| High Growth phase Value | ||||
| year | 0 | 1 | 2 | 3 |
| FCF | $ 3,590,040.00 | 3877243.2 | 4187422.66 | 4522416.47 |
| WACC | 7.05% | |||
| PVIF | 0.9341429239 | 0.8726230022 | 0.8151546027 | |
| Present value | $ 3,621,899.30 | $ 3,654,041.33 | $ 3,686,468.60 | |
| Intrisic Value | $ 10,962,409.23 | |||
| Terminal Value | ||||
| Year | 0 | 1 | 2 | 3 |
| FCF | $ 3,590,040.00 | 3679791 | 3771785.78 | 3866080.42 |
| WACC | 7.05% | |||
| PVIF | 0.9341429239 | 0.8726230022 | 0.8151546027 | |
| Present value | $ 3,437,450.72 | $ 3,291,347.03 | $ 3,151,453.25 | |
| Intrisic value | $ 9,880,251.00 | |||
| Total present value of JNJ | $ 20,842,660.23 | |||
| Total liabilities (debt) | $ 95,664,000.00 | |||
| Total present value of JNJ | $ (74,821,339.77) | |||
| Market Cap | 212billion | |||
