Cfa presentation
-
Upload
juliedin -
Category
Technology
-
view
292 -
download
3
description
Transcript of Cfa presentation
![Page 1: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/1.jpg)
SECOND A
SSIG
NMEN
T
25410 CORPORATE
FIN
ANCIAL
ANALYSIS
SPRING 2
013
VALUIN
G TEC
HNOLOGY C
OMPA
NIES
P R E S E N T E D B Y :
![Page 2: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/2.jpg)
INTRODUCTION AND OVERVIEW OF THE
COMPANIES
![Page 3: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/3.jpg)
Leaders in the provision of 3D content-to-print solutions:• 3D printing, print materials, on demand custom part
services, 3D authoring for consumers
• Rank 4th on Forbes ‘Fastest growing Tech Companies’ for 2013
• 46% sales growth from previous year• 30% EPS growth annually
![Page 4: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/4.jpg)
Provider of storage systems and data management solutions predominantly for Information Technology Infrastructures
• 28% increase in profit (
• Initiation of a quarterly dividend of $0.15 per
share
• Current share prices is $39.39 (October 25th
2013)
![Page 5: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/5.jpg)
INDUSTR
Y ANALY
SIS
CO
MP
ET
I TI V
E F
OR
CE
S
![Page 6: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/6.jpg)
3D SYSTEM: 3D PRINTER INDUSTRY
![Page 7: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/7.jpg)
NETAPP: ENTERPRISE STORAGE INDUSTRY
![Page 8: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/8.jpg)
Equity Valuation
Model
DFC
RI
![Page 9: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/9.jpg)
FUTURE CASH FLOW TO EQUITY MODELS (FCFE)
• ‘ T W O S T A G E F C F E M O D E L’ , T A I L O R E D T O A C O M P A N Y T H A T I S E X P E C T E D T O I N I T I A L LY G R O W M U C H F A S T E R T H A N A S T A B L E F I R M B E F O R E T R A N S I T I O N I N G T O A S T A B L E R A T E
3D Systems
• ‘ C O N S T A N T G R O W T H F C F E M O D E L’ , T A I L O R E D T O A C O M P A N Y T H A T I S P R E S U M E D T O B E I N A S T E A D Y S T A T E O F G R O W T H
NetApp
![Page 10: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/10.jpg)
NETAPP
![Page 11: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/11.jpg)
3D SYSTEM
![Page 12: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/12.jpg)
RESIDUAL I
NCOME
APPROACH (R
I)
![Page 13: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/13.jpg)
3D SYSTEM
![Page 14: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/14.jpg)
NETAPP
![Page 15: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/15.jpg)
THE IN
VESTMENT
DECISIO
N
![Page 16: Cfa presentation](https://reader036.fdocuments.net/reader036/viewer/2022081413/547964ddb4795983098b47a3/html5/thumbnails/16.jpg)