课程: Financial Modeling Foundations

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Terminal value in a valuation model

Terminal value in a valuation model - Microsoft Excel教程

课程: Financial Modeling Foundations

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Terminal value in a valuation model

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- [Instructor] When valuing a company, a key part of the valuation is not just the cash flows that'll be generated for the next few years, but ultimately, what the company is going to be worth far down the road, what we call the terminal value. I'm in the 04_03_Begin Excel file. Now, we're going through and determining the value for this particular firm. We've already figured out that the present value of its free cash flows are over the next few years. The firm also has $5,000 in free cash on its balance sheet that we can use as part of our evaluation. What we need to figure out though is how much that firm is going to be worth in 2024 and beyond. And this is where the concept of the terminal value comes in. So the terminal value is simply going to be equal to the previous year's free cashflow times one plus the growth rate. Now, we're going to have to make an assumption about what our long term growth in this company is going to be. In this case, we've assumed it's 5% for the year…

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