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Tabella1

FIAT SPA

27/01/09 tipo prezzo n°azioni cap.ne % equity valore


ordinarie 3.6700 1,092,247 4,008,546 89.74 #VALUE! #VALUE!
risparmio 2.5400 180,402 458,221 10.26 #VALUE! #VALUE!
1,272,649 4,466,768 #VALUE!

0.0700

ASSUMPTIONS

Free risk rate 4.50% Patrimonio netto - E - 11,101,000 38.69%

Coeff. Rischio specif. 2.80%


Coef. Rischio settoriale 2.80% Posiz. Finanz. netta – D - 17,594,000 61.31%

Beta 1.20
Costo del capitale proprio 11.22% Capitale investito - CE - 28,695,000 100.00%

Costo capitale di terzi 5.50% 4.35% N° QUOTE/ 000 ord 1,092,247

Tax rate 21.00 0.21 risp 180,402

Wacc 2.66% 4.34% 7.00% 0.0700 1.0700

% di crescita perpetua “g” 0.00% 0.0000 1.0000

CRESCITA RICAVI 0 -16 10 12 4 4 4 2 2 2

EBIT MARGIN 5.66% 2.00% 5.70% 5.70% 6.00% 6.00% 6.50% 6.50% 6.50% 6.50%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Ricavi 59,380,000 49,879,200 54,867,120 61,451,174 63,909,221 66,465,590 69,124,214 70,506,698 71,916,832 73,355,169

Ebit 3,360,908 997,584 3,127,426 3,502,717 3,834,553 3,987,935 4,493,074 4,582,935 4,674,594 4,768,086

Tax rate 21.31% 15.00% 25.00% 25.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%

Imposte 716,209 149,638 781,856 875,679 1,150,366 1,196,381 1,347,922 1,374,881 1,402,378 1,430,426

Ammortamenti 2,805,000 2,800,000 3,000,000 3,100,000 3,150,000 3,200,000 3,250,000 3,300,000 3,350,000 3,400,000

Accantonamenti 0 0 0 0 0 0 0 0 0 0

Variaz. CCN -3,604,000 1,500,000 -1,000,000 -1,000,000 -1,000,000 -1,500,000 -1,500,000 -2,000,000 -2,000,000 -2,000,000

Investimenti -5,750,000 -4,000,000 -3,500,000 -3,100,000 -3,150,000 -3,200,000 -3,250,000 -3,300,000 -3,350,000 -3,400,000

Free Cash Flow -3,904,301 1,147,946 845,569 1,627,038 1,684,187 1,291,555 1,645,152 1,208,055 1,272,216 1,337,660

Anno 1 2 3 4 5 6 7 8 9 10

Discount 1.0700 1.1450 1.2252 1.3110 1.4029 1.5011 1.6063 1.7188 1.8392 1.9680

D. F. cash Flow -3,648,720 1,002,573 690,146 1,241,042 1,200,540 860,392 1,024,205 702,853 691,729 679,702

Somma dfcf -3,648,720 -2,646,147 -1,956,001 -714,959 485,581 1,345,973 2,370,178 3,073,031 3,764,760 4,444,461

Multipli pay out 0.00% 12.00%


Valore finale 14,148,003 2008 2009 2010

Capitalizz. #VALUE! #VALUE! #VALUE! Indici 2008 2009

PFN 5,000,000 az. ord. 1,092,247 1,092,247 1,092,247 Ev #VALUE! #VALUE!

Minority 0.00 az. risp. 180,402 180,402 180,402 ev/ebitda #VALUE! #VALUE!

Surplus asset 0.00 PFN neg. 17,594,000,000 5,000,000,000 5,000,000,000 ev/sales #VALUE! #VALUE!

Valore equity #VALUE! PFN pos. 0 0 0 BVPS 8.72 8.93

ord. risp. Ricavi 59,380,000,000 49,879,200,000 54,867,120,000 ROE 15.51% 2.63%

Valore per azione #VALUE! #VALUE! EBITDA 6,165,908,000 3,797,584,000 6,127,425,840 ROI 11.71% 6.10%

Sconto 0.00% 0.00% EBIT 3,360,908,000 997,584,000 3,127,425,840 ROS 5.66% 2.00%

Valore per azione #VALUE! #VALUE! Utile netto 1,722,020,000 299,275,200 274,335,600 EPS 1.353 0.235

Patrimonio 11,101,000,000 11,364,362,176 ### PE – PU #VALUE! #VALUE!

QUOT. ATTUALE 3.6700 2.5400 Cap. inv. 28,695,000,000 16,364,362,176 ### PBV #VALUE! #VALUE!

UP/DOWN SIDE #VALUE! #VALUE! Ord. #VALUE! #VALUE! #VALUE! deb/equity 1.58 0.44

Gain /Loss x share #VALUE! #VALUE! Risp. #VALUE! #VALUE! #VALUE! Net Profit 2.90% 0.60%

Pagina 1
Tabella1

t.value
0

#VALUE!

19,096,677

1.9680

9,703,542

14,148,003

12.00%

2010

#VALUE!

#VALUE!

#VALUE!

9.12

2.36%

18.83%

5.70%

0.216

#VALUE!

#VALUE!

0.43

0.50%

Pagina 2