An investment bаnker is determining the vаlue оf а target in the energy industry. The cоmpany has sales оf $20,950 million. The banker decide to use a relative valuation approach. To do this, the Investment Banker finds the following information: Comp 1 Comp 2 Comp 3 Comp 4 Comp 5 Industry Energy Energy Energy Energy Telecoms Sales $9,086 $9,137 $5,884 $8,784 $9,366 Price $50.25 $79.06 $70.66 $55.94 $70.77 Shares 1,422 1,445 1,417 1,340 1,408 Net Income $3,123 $2,551 $1,739 $2,539 $2,763 Debt Capital $7,731 $5,020 $3,684 $5,447 $4,140 Total Inv Capital $16,652 $13,206 $9,064 $13,678 $10,657 EBIT $4,219 $3,474 $2,392 $3,499 $3,639 Current Taxes $632 $521 $358 $524 $545 Net PP&E $4,088 $6,121 $3,471 $5,709 $4,308 The target had $7,223 million in debt capital, $1,481 million total invested capital, and 1,481 million shares of stock. On their income statement, they reported an EBIT of $4,489 million and current taxes of $673 million, and net income of $3,238 million. On their balance sheet, they reported net PP&E of $12,360 million.The banker defines the implied valuation range with the mean of the target’s three closest comps and to span Q1 to Q3.The banker benchmarks the target by assessing their (1) asset utilization with fixed asset intensity, (2) profitability with operating margin, (3) capital structure with debt capitalization ratio, and (4) return on invested capital. They define a financial ratio as typical if it is within two standard deviations of the mean of the closest comps and optimal if it is within one standard deviation.What is the value of one share of the target's stock? (Enter your answer as a number of dollars, rounded to the nearest $0.01)
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