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Given the information in the projected income statements , and assuming the projected improvements in working capital (that is, Ideko's working
Given the information in the projected income statements , and assuming the projected improvements in working capital (that is, Ideko's working capital requirements though 2010 will be as shown here),use
EBITDA as a multiple to estimate the continuation value in 2010 (reproduce Table 19.15),
assuming the EBITDA multiple for Ideko remains at 9.1×. Infer the EV/sales and the unlevered and levered P/E ratios implied by the continuation value you calculated. Also assume that Ideko's production plant will require an expansion in 2010, and that the cost of this expansion, $15.3 million, will be added to Ideko's debt in 2010. Ideko's balance sheet for 2005 is shown here .Ideko's free cash flows through 2010 are shown here
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