问题如下:
4. Based on Exhibit 2, the multiple of enterprise value to sales for Centralino as of 31 December 2014 is closest to:
选项:
A.0.67.
B.0.74.
C.0.77.
解释:
C is correct. Enterprise value (EV) is calculated as follows: EV = Market value of common equity + Market value of preferred stock + Market value of debt – Cash, cash equivalents, and short-term investments
= (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102
= €2,446 million (or €2.446 billion).
So, EV/Sales = €2.446 billion/€3.182 billion = 0.77.
老师,题目解释里直接用common stock & preferred stock的market price去乘以市场流通股数,去求market value of common stock & preferred stock。
那exhibition 2里给出的数字,是book value,而不是market value,对吗?