Activision Blizzard DCF (Discounted Cash Flow) Model

A simple DCF Model based on Operating and Working Capital Assumptions (example: Activision Blizzard)

dcfdiscounted cash flowfinanceoperatingshare priceterminal valuevaluationworking capital

Description
INPUTS (Historical and Projected):

Operating

- Revenue Items : Product Sales, Subscription & Licensing
- COGS (Cost of Goods Sold): Product Costs, Software Royalties, Intellectual Property Licences, COGS MMORPG
- SG&A Items: Product Development, Sales & Marketing, Restructuring Costs, General & Administrative
- Depreciation & Amortization
- Capital Expenditures

Working Capital

- Working Capital Assets: Accounts Receivable, Inventories, Softare Development & Intellectual Prop Licenses, Other Working Capital Assets
- Working Capital Liabilities: Deferred Revenues, Accounts Payable, Accrued Expenses & Other Liabilities

OUTPUTS

- Terminal Value Calculation: Terminal Enterprise Value, Discounted Terminal Value, Enterprise Value, Enterprise Value Net Debt, Projected Share Price
- Discounted Rate (WACC): Equity (Market Cap), Cost of Debt, Cost of Equity
- Cost of Equity (CAPM): Risk Free Rate, Beta, Rm-Rf

This business tool includes
1 Excel Model

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Reviews

  • JMLOL(last updated: 08/06/2017 13:38)
    Formatting was junky and hard to follow
    The format was conducive to a self-teaching session .

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