Editing International Business Machines Corporation
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Finally, the Financing segment assists clients by providing a variety of services such as lease financing, instalment payment options, loan financing, and short-term working capital solutions. | Finally, the Financing segment assists clients by providing a variety of services such as lease financing, instalment payment options, loan financing, and short-term working capital solutions. | ||
== Team == | == Team == | ||
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Rob's professional journey with IBM's software business began in 2007, with a focus on data and analytics, a field in which he has excelled and driven innovation. | Rob's professional journey with IBM's software business began in 2007, with a focus on data and analytics, a field in which he has excelled and driven innovation. | ||
Originally from Florida, Rob pursued his studies at Vanderbilt University, earning a BA in Economics. Subsequently, during his pursuit of an MBA at the University of Florida, he delved into equity research, gaining expertise in applied economics, finance, and financial analysis. Outside of his professional endeavours, Rob actively serves on the board of Domus in Stamford, CT | Originally from Florida, Rob pursued his studies at Vanderbilt University, earning a BA in Economics. Subsequently, during his pursuit of an MBA at the University of Florida, he delved into equity research, gaining expertise in applied economics, finance, and financial analysis. Outside of his professional endeavours, Rob actively serves on the board of Domus in Stamford, CT. Domus is an organisation dedicated to assisting underprivileged children in Fairfield County. | ||
== Financials == | == Financials == | ||
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<sub>(Cost of equity was calculated using the CAPM formula)</sub> | <sub>(Cost of equity was calculated using the CAPM formula)</sub> | ||
The perpetual growth rate has been taken as the forecast of the world GDP growth estimate<ref>https://www.oecd.org/economic-outlook/june-2023/</ref>, and is shown below: | |||
The perpetual growth rate | |||
[[File:World GDP growth forecast.png|center|thumb|826x826px]] | [[File:World GDP growth forecast.png|center|thumb|826x826px]] | ||
Using this data, the terminal value (TV) has been calculated. By discounting the TV and adding it to the PV of FCF, the enterprise value is calculated. Several adjustments are then made to obtain the equity value (such as taking away net debt and adding minority interests). This is then divided by current shares outstanding to obtain the implied share price of '''$204.27''' to be reached by '''31/12/2023''', resulting an implied premium of '''52.69%'''. The above mentioned data and the WACC & growth rates used to obtain this data is presented below. | Using this data, the terminal value (TV) has been calculated. By discounting the TV and adding it to the PV of FCF, the enterprise value is calculated. Several adjustments are then made to obtain the equity value (such as taking away net debt and adding minority interests). This is then divided by current shares outstanding to obtain the implied share price of '''$204.27''' to be reached by '''31/12/2023''', resulting an implied premium of '''52.69%'''. The above mentioned data and the WACC & growth rates used to obtain this data is presented below. | ||
[[File: | [[File:Final calculation of implied premium.png|center|thumb|441x441px]] | ||
== Looking forward == | == Looking forward == | ||
== Product Lines == | |||
== References == | == References == | ||
__INDEX__ | __INDEX__ |