FM213 - AT - Problem Set 3
FM213 - AT - Problem Set 3
FM213 - AT - Problem Set 3
KEY CREPT
NI
Nov
É ftp cat
EF TE
à de
pu
EIE
c c e a
gif
a
É
Prie E 1 SE
E
E EEÊ
Gão Graça Mose
E
pff
Payet Raro
a
iii
Per Ratio
PB
Earning
Return on Equity
raç o
Dividena GROWTH
ROE
9 PB
Dividend 0.5 PER quarter
Va 15 PER
YEAR
It 11ha
ra
1.15 1
D
Pq
3.556
ftp
HENE
tifo 144J
P
Pao Ban 30 a EARNINGS
25 RETURN ON INVESTMENT
0.05
DIVIDEND
YIELD If
A THE Grant Rate Of Dividends AND EARNINGS 9
IS GIVEN By
Para BACK RATIO ROE
9
0.3 0.25 0.075
7.5J De
b WE KNOW THAT
P D
D N Dividend yield g
Df 19
Po no
II
COMPARING Po no to the Previous price Po
Pino Pepe
EPS
é
FÉ
ii
si
42.98J ao
0.429 1
d IN PART C ALL FUTURE INVESTMENT
OPPO TUNITIES
ARE ASSOMED TO HAVE NPV O
THE SANE
THEREFORE THE Price impact SHOULD BE
AS ABOVE
42.94s
iii
a Knowing THAT
Roe
jam
AND
We Have
Roe
EI po.rs
EPI
ftp sf2
DPS ERS a Payout
2.50 0.20
DRSi
ES 0
HENCE
BE BE EPS DPS
10 2.8 0.50
Bei
1
Doing THE SAME FOR
YEAR
2
roer 0.25
EEI epi
ftp.z
DPS EPSZXDAYUTZ
3x 0.20
0.60J
BE BE EPS DPS
12 3 0.60
1.1440J
a 1
9
PE j
faz
DOING THE SAME FOR YEARS 3 AND 4 GES
Us
iitttitin
b r 12
g 9 8
p
E pff
Em
titi
e
R 238
is in
This value corresponds to AT YEAR O
31 22.07
Ás
WHICH REPRESENTS
IEE tr.SI
OF O NAVE
YEAR TA
d Without GROWTH he hold HAVE AT YEARS
B NG
PI Tf1 2027
PUGO PB PBNG
31 20.75
910.25m
WHICH IS WORTH AT T O
10.25
7.307
af
a
OPPORTUNITIES REPRESENT A
Titus GROWTH
same
size 130.0
7
OF O value
YEAR
A
C IF IT EARNS ONLY ITS COST OF CAPITAL IN
THE PUGO
YEAR 4 AND AFTER IT MEANS THAT
816.51J
A