NO.PZ201612170200000406
问题如下:
6. Based on Exhibit 4, Gesticular’s EV/EBITDA multiple is closest to:
选项:
A.11.4.
B.13.7.
C.14.6.
解释:
B is correct. The EV for Gesticular is calculated as follows:
EV = Market value of debt + Market value of common equity + Market value of preferred equity – Cash and short-term investments
EV = R$1,733 million + R$6,766 million + R$275 million – R$581 million – R$495 million = R$7,698 million
EV/EBITDA = R$7,698 million/R$560 million = 13.7
为什么现金及等价物不计入公司价值呢?