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Mini Equity Research Report [WLO: 4] [CLOs: 1, 2, 3, 4]

Many investment banks employ analysts to write equity research reports on public companies to advise their clients on their stock investments. In many cases, an initial equity research report is 20 to 50 pages long! For this class, you will focus on only three of the many important sections typically included in an equity research report. Thankfully, your Mini Equity Research Report will be much shorter than those published by investment banks!

In Week 1, you chose a publicly traded company to use throughout this class for the Mini Equity Research Report. In the first section of the Mini Equity Research Report, you evaluate the historical financial performance of the company (Week 1). In the second section of the Mini Equity Research Report, you evaluate the company’s performance using common financial ratios, and you compare the company to the competitor’s performance with the same financial ratios (Week 2). Finally, in Sections 3 and 4 of the report, you develop a value for the company’s stock and compare your value to the current market price of the stock (Weeks 3 and 4). Based on the analysis you present in these four sections, you will develop your recommendation to buy, hold, or sell the stock of this company.

It is very rare for one company to have only positive facts. Most companies have some good facts and some weak facts. In Sections 1 and 2 of the Mini Equity Research Report, you will analyze a variety of financial data for your selected company. As the equity analyst, it is your responsibility to combine the positive and negative facts into one recommendation (buy, hold, or sell). It is important to consider the importance of each fact and acknowledge that there is no perfect answer. Your recommendation should be based on the strength of the positive facts while recognizing the risks from the negative facts.

This week, you will write the introduction (including your stock recommendation) and the conclusion of the Mini Equity Research Report. In addition, you will revise the four sections from the first four weeks of class and combine them into this Mini Equity Research Report. Finally, you will submit your final Appendices A, B, C, and D with the Mini Equity Research Report.

Prepare:

Prior to beginning work on this final project,

  • Complete the Week 5 – Learning Activity: Understanding Cost of Capital.
  • Review the feedback you have received on your assignments throughout this course.
  • Locate and revise (if necessary) all of your assignments from Weeks 1 through 4.

Write:

In your Mini Equity Research Report,

  • Write an introduction. In your introduction, include the following:
    • State the name of the company and a brief description of what it does.
    • State the current market price per share and total market capitalization of the company.
    • State two key historical financial performance facts about your company (you can ascertain this information from your Week 1 – Assignment 3, Section       1: Financial Statement Analysis).
      • Categorize the overall financial performance as strong, neutral, or weak.
      • Justify your assessment based on the key facts.
    • Summarize       (briefly) the ratio performance of the company.
      • Categorize the overall ratio performance as strong, neutral, or weak.
      • Justify your assessment based on the key facts.
    • Determine the valuation conclusion based on the constant growth formula in Week 4,       using the required rate of return derived from the CAPM.
    • Determine your recommendation of buy, hold, or sell the stock of your chosen company.
  • Include your revised Week 1 – Assignment 3, Section 1: Financial Statement      Analysis.
  • Include your revised Week 2 – Assignment 3, Section 2: Financial Ratio Analysis.
  • Include your revised Week 3 – Assignment, Section 3: Dividend Analysis and      Preliminary Valuation, Part 1: Dividend Analysis only
  • Include your revised Week 4 – Assignment, Section 4: Valuation Conclusion.
  • Write a conclusion. In your conclusion, include the following:
    • Summarize the analysis that was completed for the Mini Equity Research Report.
    • State your recommendation of buy, hold, or sell the stock of your chosen company.
    • Summarize the key facts supporting your recommendation, including your concluded stock price.
  • Include      
    • Appendices A, B, C and D.

Submission Format:

You need submit a total of five documents to Waypoint:

  • Mini      Equity Research Report
  • Appendix      A
  • Appendix      B
  • Appendix      C
  • Appendix      D

The Mini Equity Research Report,

IBM financial ratios

2021 2020 2021

Market Cap Growth 6.87% -5.51% 14.92%

Enterprise Value 160,228 152,494 163,668

PE Ratio 20.87 20.07 12.59

PS Ratio 2.09 2.03 2.06

PB Ratio 6.34 5.45 5.7

P/FCF Ratio 11.51 7.4 9.57

P/OCF Ratio 9.37 6.16 8.04

EV/Sales Ratio 2.98 3.04 3.12

EV/EBITDA Ratio 12.73 13.76 10.65

EV/EBIT Ratio 24.36 30.45 16.61

EV/FCF Ratio 16.42 11.09 14.51

Debt / Equity Ratio 2.92 3.16 3.27

Debt / EBITDA Ratio 4.1 5.33 4.03

Debt / FCF Ratio 5.29 4.29 5.5

Current Ratio 0.88 0.98 1.02

Asset Turnover 0.4 0.36 0.39

Return on Equity (ROE) 27.20% 27.20% 51.70%

Return on Assets (ROA) 4.00% 3.60% 6.40%

Return on Capital (ROIC) 8.30% 5.50% 10.80%

Earnings Yield 4.79% 4.98% 7.95%

FCF Yield 8.69% 13.51% 10.45%

Dividend Yield 4.90% 5.17% 4.81%

Payout Ratio 102.20% 103.70% 60.50%

Buyback Yield / Dilution -0.90% -0.42% 2.56%

Total Shareholder Return 4.00% 4.75% 7.37%

,

Year 2021 2020 2019

Market Cap Growth 26.47% 94.19% -9.30%

Enterprise Value 2,490,692 1,941,766 996,377

PE Ratio 25.65 33.45 17.9

PS Ratio 6.64 7 3.8

PB Ratio 38.49 29.39 10.93

P/FCF Ratio 26.13 26.17 16.79

P/OCF Ratio 23.34 23.8 14.25

EV/Sales Ratio 6.88 7.28 4.02

EV/EBITDA Ratio 20.44 24.68 12.79

EV/EBIT Ratio 22.5 28.58 15.1

EV/FCF Ratio 27.07 27.26 17.77

Debt / Equity Ratio 1.98 1.72 1.19

Debt / EBITDA Ratio 1.01 1.39 1.32

Debt / FCF Ratio 1.34 1.53 1.83

Current Ratio 1.08 1.36 1.54

Asset Turnover 1.07 0.84 0.76

Return on Equity (ROE) 144.10% 75.20% 53.80%

Return on Assets (ROA) 27.60% 17.60% 16.10%

Return on Capital (ROIC) 36.20% 23.40% 22.30%

Earnings Yield 3.90% 2.99% 5.59%

FCF Yield 3.83% 3.82% 5.96%

Dividend Yield 0.58% 0.72% 1.40%

Payout Ratio 15.00% 24.00% 25.10%

Buyback Yield / Dilution 3.78% 5.74% 7.02%

Total Shareholder Return 4.37% 6.46% 8.43%

Apple Inc. Financial ratios

,

Sheet1

Apple .Inc
12 Months Ended
Income statement
Sep. 25, 2021 Sep. 26, 2020 Sep. 26, 2019
Net sales
Cost of sales 365817 274515 260174
Gross margin 212981 169559 161782
Operating expenses:
Research and development 21914 18752 16217
Selling, general and administrative 21973 19916 18245
Total operating expenses 43887 38668 34462
Operating income 108949 66288 63930
Other income/(expense), net 258 803 1807
Income before provision for income taxes 109207 67091 65737
Provision for income taxes 14527 9680 10481
Net income 94680 57411 55256
CONSOLIDATED BALANCE SHEETS – USD ($) $ in Millions Sep. 25, 2021 Sep. 26, 2020 Sep. 26, 2019
Current assets:
Cash and cash equivalents 34940 38016 48844
Marketable securities 27699 52927 51713
Accounts receivable, net 26278 16120 22926
Inventories 6580 4061 4106
Vendor non-trade receivables 25228 21325 22878
Other current assets 14111 11264 12352
Total current assets 134836 143713 162819
Non-current assets:
Marketable securities 127877 100887 105341
Property, plant and equipment, net 39440 36766 37378
Other non-current assets 48849 42522 32978
Total non-current assets 216166 180175 175697
Total assets 351002 323888 338516
Current liabilities:
Accounts payable 54763 42296 46236
Other current liabilities 47493 42684 37720
Deferred revenue 7612 6643 5522
Commercial paper 6000 4996 5980
Term debt 9613 8773 10260
Total current liabilities 125481 105392 105718
Non-current liabilities:
Term debt 109106 98667 91807
Other non-current liabilities 53325 54490 50503
Total non-current liabilities 162431 153157 142310
Total liabilities 287912 258549 248028
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, 57365 50779 45174
$0.00001 par value: 50,400,000 shares
authorized; 16,426,786 and 16,976,763
shares issued and outstanding, respectively
Retained earnings 5562 14966 45898
Accumulated other comprehensive income/(loss) 163 -406 -584
Total shareholders’ equity 63090 65339 90488
Total liabilities and shareholders’ equity $ 351,002 $ 323,888 $ 338,516

,

Apendix A

Apple .Inc
12 Months Ended
Income statement
Sep. 25, 2021 Sep. 26, 2020 Sep. 26, 2019
Net sales
Cost of sales 365817 274515 260174
Gross margin 212981 169559 161782
Operating expenses:
Research and development 21914 18752 16217
Selling, general and administrative 21973 19916 18245
Total operating expenses 43887 38668 34462
Operating income 108949 66288 63930
Other income/(expense), net 258 803 1807
Income before provision for income taxes 109207 67091 65737
Provision for income taxes 14527 9680 10481
Net income 94680 57411 55256
CONSOLIDATED BALANCE SHEETS – USD ($) $ in Millions Sep. 25, 2021 Sep. 26, 2020 Sep. 26, 2019
Current assets:
Cash and cash equivalents 34940 38016 48844
Marketable securities 27699 52927 51713
Accounts receivable, net 26278 16120 22926
Inventories 6580 4061 4106
Vendor non-trade receivables 25228 21325 22878
Other current assets 14111 11264 12352
Total current assets 134836 143713 162819
Non-current assets:
Marketable securities 127877 100887 105341
Property, plant and equipment, net 39440 36766 37378
Other non-current assets 48849 42522 32978
Total non-current assets 216166 180175 175697
Total assets 351002 323888 338516
Current liabilities:
Accounts payable 54763 42296 46236
Other current liabilities 47493 42684 37720
Deferred revenue 7612 6643 5522
Commercial paper 6000 4996 5980
Term debt 9613 8773 10260
Total current liabilities 125481 105392 105718
Non-current liabilities:
Term debt 109106 98667 91807
Other non-current liabilities 53325 54490 50503
Total non-current liabilities 162431 153157 142310
Total liabilities 287912 258549 248028
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, 57365 50779 45174
$0.00001 par value: 50,400,000 shares
authorized; 16,426,786 and 16,976,763
shares issued and outstanding, respectively
Retained earnings 5562 14966 45898
Accumulated other comprehensive income/(loss) 163 -406 -584
Total shareholders’ equity 63090 65339 90488
Total liabilities and shareholders’ equity $ 351,002 $ 323,888 $ 338,516

Apendix B

Apple .Inc
12 Months Ended
Income statement
Sep. 25, 2021 Sep. 26, 2020 Sep. 28, 2019
Net sales 100% 100% 100%
Cost of sales 58% 62% 62%
Gross margin 42% 38% 38%
Operating expenses:
Research and development 6% 7% 6%
Selling, general and administrative 6% 7% 7%
Total operating expenses 12% 14% 13%
Operating income 30% 24% 25%
Other income/(expense), net 0% 0% 1%
Income before provision for income taxes 30% 24% 25%
Provision for income taxes 4% 4% 4%
Net income 26% 21% 21%
CONSOLIDATED BALANCE SHEETS – USD ($) $ in Millions Sep. 25, 2021 Sep. 26, 2020 Sep. 26, 2019
Current assets:
Cash and cash equivalents 9.95% 11.74% 14.43%
Marketable securities 7.89% 16.34% 15.28%
Accounts receivable, net 7.49% 4.98% 6.77%
Inventories 1.87% 1.25% 1.21%
Vendor non-trade receivables 7.19% 6.58% 6.76%
Other current assets 4.02% 3.48% 365.00%
Total current assets 38.41% 44.37% 48.10%
Non-current assets:
Marketable securities 36.43% 31.15% 31.12%
Property, plant and equipment, net 11.24% 11.35% 11.04%
Other non-current assets 13.92% 13.13% 9.74%
Total non-current assets 61.59% 55.63% 51.90%
Total assets 100.00% 100.00% 100.00%
Current liabilities:
Accounts payable 19.02% 16.36% 18.64%
Other current liabilities 16.50% 16.51% 15.21%
Deferred revenue 2.64% 2.57% 2.23%
Commercial paper 2.08% 1.93% 2.41%
Term debt 3.34% 3.39% 4.14%
Total current liabilities 43.58% 40.76% 42.62%
Non-current liabilities:
Term debt 37.90% 38.16% 37.01%
Other non-current liabilities 18.52% 21.08% 20.36%
Total non-current liabilities 56.42% 59.24% 57.38%
Total liabilities 100.00% 100.00% 100.00%

,

12

Apple Inc. Financial Statement Analysis

Kevin Sessions

The University of Arizona Global Campus

BUS 401 Principles of Finance

Phillip Sarakatsannis

August 1, 2022

Apple Inc. financial analysis

Part 1: Overview of the company

Apple Inc. is one of the leading tech firms not only in the United States but also globally. The company is known for manufacturing smart devices such as smartwatches, smartphones, smart glasses, and computers. It also manufactures software that runs on the mentioned devices (Reuters, 2022). The company currently takes the highest market share of 51% of mobile and computer devices.

Part 2: Income statements

The income statements record the income of the company every year.

The income statement records the net sales (revenues), operating income, and net sales. Apple's revenues have increased over the last three years. It was $ 260, 174, $274, 515, and $ 365, 817 in 2019, 2020, and 2021 respectively.

The operating expenses also increased in the last three years. The company recorded $34, 462, $36, 668, and $ 43, 887 in the years 2019, 2020, and 2021 respectively. With the increase in net sales, the net income also increased significantly over the past three years. The company managed to increase. In 2019 the company had $55,256; in 2020, the company had $ 57,411; in 2021, the company registered a net income of $ 94,680.

Part 3: Common size income statements

The common size income statement is used to determine how each line component in the business affects the company's financial position. The company's gross margin in the last three years has been increasing: it was 38 % in 2019 and 2020 and 42% at the end of the 2021 fiscal year. The operating income also increased in the last financial year (2021) compared to the preceding 2020, a drop compared to the 2019 operating margin (Arnold, Ellis, & Krishnan, 2018). The operating margin in the last three years was 30%, 24%, and 25% for 2021, 2020, and 2019 respectively.

Part 4: Balance sheets

The balance is an important company document that records the organization's assets and liabilities. These are the items that make up the company's capital. Apple's total assets have been increasing last two years. The company had $ 251,002 worth of total assets in 2021, an increase from $ 323,880 in 2020 and a decrease from $ 338,516 in 2019. The current assets have, however, dropped in the last three years. The company had $ 162,819, $143,713, $134,836 in the year 2019, 2020, and 2021 respectively.

The total liabilities of the company also increased in the last three years.

The company had $ 248, 028, $ 258, 549, and $ 287, 912 in the year 2019, 2020, and 2021 respectively. The current liabilities also increased from 105,718 in 2019 to 125,481 in 2021; the current liabilities in 2020 were $ 105,392. The shareholder equity decreased from $ 904,800 million in 2019 to $ 63,090 million in 2021.

Part 5: Common size balance sheets

The common size balance can reveal each item over the critical item. The current assets as a percentage of the current assets have been dropping over the last three years. The current asset has dropped by 10 points from the 2019 current assets (Roychowdhury, Shroff, & Verdi, 2019). The current liabilities, on the other, had increased from 16.36 % in 2020 to 19.02 % in 2021.

Part 6: Cash flow

The cash flow of an organizations shows the movement of cash in and out of an organization in a fiscal year. The cash flow record cash flow associated with the operating activities, investing activities, and financing activities. From the information provide we can calculate apple’s cash flow in the last three years using the following formula.

Cash Flow = Cash from operating activities + (-) Cash from investing activities + (-) Cash from financing activities + Beginning cash balance.

2019

Cash flow = 69,391, 000 + 45, 896, 000 + (90,976,000) + 25, 913, 000 = 50,224,000

2020

Cash flow = 80, 674,000 + (4, 289, 000) + (86,820,000) + 50, 224,000 = 39,789,000

2021

Cash flow = 104, 038, 000 + (14, 545,000) + (93,353,000) + 39, 789,000 = 35, 929,000

The cash flow has been decline in the last three years shown in the calculation.

Part 7: Financial analysis conclusion

Through the analysis of the firm’s financial information, we can see that it is performing well in most of its areas of operations. However, there is some weakness that the company needs to look into. The tables below show the company’s financial strengths and weaknesses as far as financial performance is concerned.

Strengths

Weaknesses

Cash flow operating activities

Investing activities

Shareholders’ equity

Financing activities

Assets

liabilities

sales

The strengths have shown an increase in the amount of income to the organization, as shown in the financial statements—the weaknesses, on the other hand, led to the drop in Apple’s financial resources.

References

Arnold, A. G., Ellis, R. B., & Krishnan, V. S. (2018). Toward effective use of the statement of cash flows. Journal of Business and Behavioral Sciences, 30(2), 46-62.

Reuters. (2022). Apple Inc. Breaking International News & Views | Reuters. https://www.reuters.com/markets/companies/AAPL.O/

Roychowdhury, S., Shroff, N., & Verdi, R. S. (2019). The effects of financial reporting and disclosure on corporate investment: A review. Journal of Accounting and Economics, 68(2-3), 101246.

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1

Apple Inc. Financial Performance

University of Arizona Global Campus

Kevin Sessions

BUS 401 Principles of Finance

Aug 17, 2022

Apple’s Financial Performance

It is quite an arduous task to determine a company to invest in from an array of companies selected. Little information that the raw data provides partly contributed to this difficulty. Determining the ratios of an individual firm helps in the best stock investment decision. The critical ratios for this function include liquidity ratios, profitability ratios, debt management ratios, asset management ratios, and per share. These ratios can help us determine whether to invest in Apple’s Inc. stock.

Liquidity Ratio

Companies finance their operations through different channels. One channel is borrowing or liabilities, which can be short-term or long-term debt. Quick and current ratios are some of the best ratios that can determine the liquidity ratio of a company (Myšková & Hájek, 2019). Apple’s quick ratio has been declining in the last three years. The ratio has been declining from 1.00 to 0.82. The current ratio also dropped from 1.54 in 2019 to 1.08 in 2021. Though this ratio is still good, the company is leading to worrying trends in the repayment of short-term loan obligations.

Profitability Ratio

Profitability ratios help potential investors assess the business's ability to generate earnings relative to its revenue, operating cost, balance sheet assets, or shareholders' equity. The most commonly used ratios are return on assets (ROA), return on equity (ROE), gross margin, and net margin. Apple's ROA is 0.16, 0.17, and 0.276 for 2019, 2020, and 2021 fiscal years, respectively. Its ROE was 0.538, 0.752, and 1.441 for the same periods. These are the best ratio value that shows that the firm is generating profits from its operations.

Debt Management Ratios

Debt is one way through which a company finances its operation. For this ratio, the company needs to manage this debt effectively to avoid any issues that affect its financial status. By determining the debt management ratio, an investor can evaluate the company’s likelihood of defaulting on its debt. The debt management ratio includes the debt-to-equity ratio. Apple’s debt-to-equity ratio in the last three fiscal years was 1.19, 1.72, and 1.98. These ratios show that the company is not good at asset management.

Asset Management Ratios

Companies use assets to generate revenues. An investor needs to determine the ability of the company to generate revenue through the determination of asset management ratios. This ratio helps understand the overall efficiency level of a business. The best ratios for determining a company’s asset management are total asset turnover, receivable turnover, inventory turnover, and accounts payable turnover. Apple’s asset turnover for the last fiscal year was 0.76, 0.84, and 1.07, respectively. The ratio analysis shows that the company has improved over the previous three years. This show that the company has improved its asset management over the period.

Part 2: Ratio Interpretations

Most ratios are calculated to show that the company is doing well in the most critical investment aspects that matter to an investor. The company's liquidity ratios have been above 1 in the last three years. This shows that the company is good at repaying short-term debt. The profitability ratios are also above 10%, which shows that the company is in the best position to generate profits from its operations. The company also does pretty well in asset management, as demonstrated by its asset turnover.

Debt management is the only area in which the company is not doing well. The ratio shows that the company is struggling to meet its long-term debt obligation. Also, the trend indicates that the company might struggle with its debt management in the future.

Part 3: Apple’s Comparison with Industry

Comparing the company's performance with the industry, we can observe how the company is performing in the entire industry. Apple is among the leading firms in the computing industry (Al Mheiri, Hosani, & Saif, 2021). This comparison means that the company contributes significantly to determining the industry trends.

For all the rations that we have done, apple is above average in all aspects. It seems to perform well in all the ratios since it is one of the leading firms in the industry.

Part 4: Organization’s Overall Performance

The analysis of the ratios, comparing the company's ratio and those of competitors, and comparing the company's ratio with the industry can help to determine the company's overall performance (Al Mheiri, Hosani, & Saif, 2021). Apple's ratio analysis shows that the company performs better based on the industry's ratio. Also, the ratio analysis shows that the company will perform well in the future if it keeps the same trends as far as the ratio is concerned.

References

Shivaani, M. V. (2022). Comparing Apple to Amazon: Just a Matter of Words in the Machine Learning World. Journal of Emerging Technologies in Accounting, 19(1), 213-224.

Myšková, R., & Hájek, P. (2019). Relationship between corporate social responsibility in corporate annual reports and financial performance of the US companies. Journal of International Studies, volume 12, issue: 1.

Al Mheiri, R., Al Hosani, N., & Saif, E. (2021). Ratio Analysis of Apple. Available at SSRN 3895231.

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1

Dividend Analysis and Preliminary Valuation

Kevin Sessions

BUS 401 Principles of Finance

University of Arizona Global Campus

August 15, 2022

PART 1

DIVIDEND ANALYSIS

Apple has maintained a pattern of paying dividends on a semiannual basis during the previous 11 years. Table 6 presents Apple's dividend per share and annual growth rate from 2010 through 2021, even though it does not include the dividend per share for 2021. During the past ten years, Apple has seen an average yearly growth rate of 16.52 percent. The average annual growth rate during the previous five years was 22.25%, but the average annual growth rate over the previous three years was 7.44%. In nine out of the past ten years, DIS has raised the amount of money it has distributed as dividends.

On the other hand, by 2020 and 2016, they had dropped by 50 and 21.5 percent (Mickle, 2020). In 2015, the dividend growth rate was 110.45%, but it dropped to 4.76% in 2019. From its highest position in 2015, when the average dividend growth rate was at its highest, to its lowest point in 2020, when it was at its lowest.

Divided per share

Annual Growth Rate

2021

NM

NM

2020

$ 0.79

-50.000%

2019

$ 1.80

4.762%

2018

$ 1.71

7.692%

2017

$ 1.62

9.859%

2016

$ 1.54

-21.547%

2015

$ 1.90

110.465%

2014

$ 0.96

14.667%

2013

$ 0.84

25.000%

2012

$ 0.68

50.000%

2011

$ 0.35

14.286%

2010

$ 0.41

0.000%

After conducting a significant study on the subject, I concluded that the highest dividend growth rate I could locate was 7.69 percent. This result was reached by analyzing the average growth rate over the last three years and the expected growth rate for 2018. I have determined that a minimum dividend growth rate of 4.76 percent must be maintained at all times (Mark, 2020). Compared to the average growth rate of the three years with the weakest economic expansion over the preceding five years, 2019's anticipated expansion is expected to be similar to that rate. These growth rates are based on several factors, including a decrease in revenue and net income in 2020, a little increase in sales in 2021, and an inventory turnover rate of 30.98 percent over the previous three years.

PART 2

PRELIMINARY VALUATION

Using the formula for compound growth, one can determine the value of Apple stock. The stock price is computed using the continuous growth method by combining the most recent dividend (D), a dividend growth rate (g), and a discount rate. This yields the final result (r). The following is the solution to the problem:

C:UsersLMSPicturesScreenshotsScreenshot (11).png

To be included in the first computation of dividend growth, DIS must always sustain a growth rate of 4.76 percent or above. (g). According to the most recent information provided by NASDAQ, the dividend per share will be $0.88 in 2022. (D). Because Apple has a significant amount of cash on hand, the discount rate will be 10%. (r). When we consider everything, we get an estimate for the share price of Apple that comes out to $17.60 on average. To be more specific, we get to these conclusions:

C:UsersLMSPicturesScreenshotsScreenshot (12).png

When using the second approach, Apple's maximum dividend growth rate is 7.69%. (g). These shares currently provide a dividend yield of $0.88 per year, and the current discount rate is 10% (r) (D). The current price of a share of DIS is $41.02, as of right now. The following is how it computes out:

C:UsersLMSPicturesScreenshotsScreenshot (13).png

C:UsersLMSPicturesScreenshotsScreenshot (14).png

On February 11, 2021, NASDAQ will announce that one share will sell for $149.41. If we utilize the strategy of continuous growth, the minimum and maximum values anticipated are less than the price currently being offered on the market. This suggests that the price of DIS on the market is currently at an extraordinarily high level.

If this estimate comes true, the value of a single share would be $41.02 in terms of the currency used in the United States (Deutschman, 2020). Due to increased sales, net income, and inventory turnover, this stock va

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