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finance -analyst report: financial statement analysis and corporate valuation"

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You have to write an analyst report (book year 2018) for a corporation. The report should consist of
two parts.

  • Financial Statement Analysis

Using the table with financial ratios in BDM (Table 2.4, page 79, BDM) assess your corporation’s profitability, liquidity and solvency (multiple ratios possible). Evaluate these aspects (i) with respect to the corporation’s own past (compare with 2015, 2016 and 2017) and (ii) with respect to other US companies.
Calculate the valuation ratios to make a preliminary assessment on whether you corporation is overvalued or undervalued. Just as under the previous question, compare the valuation ratios with the three previous years for the same company as well as to other US companies.
Note: you are not supposed to put the financial statements in your report, only the outcomes of your ratio analyses.
Corporate valuation
 
Analyze the company’s market value of equity using the free cash flow method and the dividend discount model. In your calculation, please follow the structure of Exercise 6.2.4 in this year’s course manual.
Deliverable 1: a concisely written report in MS Word format (Times New Roman 12 pts, title page with title, name of company and id nr, name of student). Only reporting numbers without any economic interpretation is insufficient: you need to give economic interpretation to your answers and you need to shortly explain the used formulae. Desirable length of the report: 4-6 pages. If you took the course this year, please also mention your tutorial group number. In your report you comment on the used formulae and outcomes.
Deliverable 2: an excel file with the calculations for Part II (the company valuation). The excel file’s structure should be the same as under Exercise 6.2.4.
Further requirements:

  • the company is Hilton grand vacation inc.

You should use 3 years of balance sheet data for the free cash flow valuation.

  • 
 You may assume that the cost of equity is 10% and the after-tax weighted cost of capital is 8%.
  • You may also assume that the expected return on new investments is 12%.
  • Use yahoo.finance.com to retrieve information as well as the corporation’s annual reports.

 
 

 
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