Comparable Companies Template

Investment Banking
Valuation, Leveraged Buyouts,

and Mergers & Acquisitions
Comparable Companies Analysis - Template
JOSHUA ROSENBAUM
JOSHUA PEARL
($ in millions)
List of Comparable Companies

Company
Ticker
Powergrid corporation
Business Description
532898 It is a 'Navratna Public Sector Enterprise' and The Central

Transmission Utility of the country It is one of the largest
Power Transmission utilities in the world.
Equity
Enterprise
LTM
Value
Value
Sales
#REF!
$16,146
Company A
AAA
[to come]
Company B
BBB
[to come]
Company C
CCC
[to come]
Company D
DDD
[to come]
Company E
EEE
[to come]
Company F
FFF
[to come]
Company G
GGG
[to come]
Company H
HHH
[to come]
Company I
III
[to come]
Company J
JJJ
[to come]
Company K
K--
[to come]
Company L
LLL
[to come]
Company M
MMM
[to come]
Company N
NNN
[to come]
Company O
OOO
[to come]
ValueCo Corporation
Benchmarking Analysis Financial Statistics and Ratios, Page 1
($ in millions, except per share data)
Market Valuation
LTM Financial Statistics
Equity
Enterprise
Value
Value
Company
Ticker
532898
Tier I: Large-Cap
Company A
Company B
Company C
Company D
Company E
AAA
BBB
CCC
DDD
EEE
Gross
Sales
Net
Est.
(%)
1-year
1-year
1-year
1-year
1-year
1-year
LT
99%
NA
60%
NA
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Mean
Median
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
High
Low
0%
0%
0%
0%
0%
0%
0%
0%
### 0%
### 0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Income
EPS
Est.
(%)
$16,146 $15,927 #VALUE!
EBIT
Growth Rates
EBITDA
Hist.
Est.
Hist.
(%)
EBITDA
Sales
Hist.
Est.
(%)
#REF!
Profit
LTM Profitability Margins

Gross
Net
Profit
EBITDA
EBIT
Income
$9,613 #VALUE!
Mean
Median
Tier II: Mid-Cap
Company F
Company G
Company H
Company I
Company J
FFF
GGG
HHH
III
JJJ
Mean
Median
Tier III: Small-Cap
Company K
Company L
Company M
Company N
Company O
K-LLL
MMM
NNN
OOO
Mean
Median
Overall
Source: Company filings, Bloomberg, Consensus Estimates

Note: Last twelve months data based on September 30, 2008. Estimated annual financial data based on a calendar year.
ValueCo Corporation
Benchmarking Analysis Financial Statistics and Ratios, Page 2
General
Return on Investment
LTM Leverage Ratios

Debt /
Debt /
Net Debt /
Tot. Cap. EBITDA
EBITDA
(%)
(x)
(x)
LTM Coverage Ratios

EBITDA / EBITDA
EBIT /
Int. Exp. - Cpx/ Int. Int. Exp.
(x)
(x)
(x)
Credit Ratings
Company
Ticker
FYE
Predicted
Beta
ROIC
(%)
ROE
(%)
ROA
(%)
Implied
Div. Yield
(%)
Moody's
S&P
532898
Mar-31
1.00
33%
0%
0%
11%
7%
0.0x
0.0x
0.0x
0.0x
3.0x
AAA
BBB
Tier I: Large-Cap
Company A
Company B
Company C
Company D
Company E
AAA
BBB
CCC
DDD
EEE
Dec-31
Dec-31
Dec-31
Dec-31
Dec-31
1.00
1.00
1.00
1.00
1.00
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.00
1.00
0%
0%
0%
0%
0%
0%
NA
NA
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
1.00
1.00
1.00
1.00
1.00
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.00
1.00
0%
0%
0%
0%
0%
0%
NA
NA
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
1.00
1.00
1.00
1.00
1.00
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.00
1.00
0%
0%
0%
0%
0%
0%
NA
NA
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
Mean
Median
1.00
1.00
0%
0%
0%
0%
0%
0%
NA
NA
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
High
Low
1.00
1.00
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
Mean
Median
Tier II: Mid-Cap
Company F
Company G
Company H
Company I
Company J
FFF
GGG
HHH
III
JJJ
Dec-31
Dec-31
Dec-31
Dec-31
Dec-31
Mean
Median
Tier III: Small-Cap
Company K
Company L
Company M
Company N
Company O
K-LLL
MMM
NNN
OOO
Dec-31
Dec-31
Dec-31
Dec-31
Dec-31
Mean
Median
Overall
ValueCo Corporation
Comparable Companies Analysis
Current
Share
Price
% of
52-wk.
High
LTM
EPS
Price /
2008E
EPS
2009E
EPS
LT
EPS
Growth
0.0.x
NA
NA
NA
0%
NA
NA
NA
NA
NA
0.0.x
0.0.x
0.0.x
0.0.x
0.0.x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
NA
NA
NA
NA
0.0x
0.0x
NA
NA
NA
NA
NA
NA
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.0.x
0.0.x
0.0.x
0.0.x
0.0.x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
0.0x
0.0x
NA
NA
NA
NA
NA
NA
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.0.x
0.0.x
0.0.x
0.0.x
0.0.x
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0%
0%
0%
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.0x
0.0x
NA
NA
NA
NA
NA
NA
0%
0%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.0x
0.0x
NA
NA
NA
NA
NA
NA
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0%
0%
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
0%
0%
2009E
EBIT
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Mean
Median
NA
NA
NA
NA
NA
NA
High
Low
0.0x
0.0x
0.0x
0.0x
0.0x
0.0x
Ticker
532898 $135.10
Tier I: Large-Cap
Company A
Company B
Company C
Company D
Company E
AAA
BBB
CCC
DDD
EEE
85%
NA
NA
NA
NA
NA
#REF!
Mean
Median
Tier II: Mid-Cap
Company F
Company G
Company H
Company I
Company J
FFF
GGG
HHH
III
JJJ
NA
NA
NA
NA
NA
Mean
Median
Tier III: Small-Cap
Company K
Company L
Company M
Company N
Company O
Mean
Median
K-LLL
MMM
NNN
OOO
NA
NA
NA
NA
NA
LTM
Sales
2008E
Sales
2009E
Sales
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
LTM
Total
EBITDA Debt /
Margin EBITDA
2008E
EBIT
Enterprise
Value
Enterprise Value /
LTM
2008E
2009E
EBITDA EBITDA EBITDA
LTM
EBIT
Company
Equity
Value
Overall

Note: Last twelve months data based on September 30, 2008. Estimated annual financial data based on a calendar year.
PPOWERGRID CORPORATION OF INDIA LTD.
Input Page
It is a 'Navratna Public Sector Enterprise' and The Central Transmission Utility of

the country It is one of the largest Power Transmission utilities in the world.
General Information
Company Name
Reported Income Statement

Ticker
Stock Exchange
532898
BSE
Fiscal Year Ending

Moody's Corporate Rating
S&P Corporate Rating
Predicted Beta
Marginal Tax Rate
Mar-31
AAA
BBB
1.00
38.0%
Sales
COGS
Gross Profit
Other Expense / (Income)
EBIT
10/19/2015
135.10
Interest Expense
Pre-tax Income
Income Taxes
10/19/2015
10/19/2015
85.0%
159.00
120.75
3.65
Selected Market Data

Current Price
% of 52-week High
52-week High Price
52-week Low Price
Dividend Per Share (MRQ)
Fully Diluted Shares Outstanding
Equity Value
Fiscal Year Ending March 31,

2013A
2014A
Net Income
Effective Tax Rate
Weighted Avg. Diluted Shares
Diluted EPS
2,452.5
#REF!
#REF!
Less: Cash and Cash Equivalents

Enterprise Value
(4,974.4)
#REF!
Adjusted Income Statement

Reported Gross Profit
Non-recurring Items in COGS
Adj. Gross Profit
% margin
Reported EBIT
Trading Multiples
LTM
Metric
EV/EBITDA
Metric
EV/EBIT
Metric
NFY
NFY+1
9/30/2008
NA
#VALUE!
NA
#VALUE!
NA
$16,146.1
NA
#VALUE!
NA
$9,612.7
NA
NA
-
NA
NA
-
NA
-
NA
-
NA
-
P/E
Metric
Current
Stub
9/302007
Stub
9/30/2008
LTM
9/30/2008
LTM Return on Investment Ratios

Return on Invested Capital
Return on Equity
Return on Assets
Implied Annual Dividend Per Share
33.2%
10.8%
6.6%
-
EBITDA/Interest Expense
(EBITDA-capex)/Interest Expense
EBIT/Interest Expense
3.0x
Historical
1-year
EBITDA
EPS
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
2,490.6
4,700.2
141489.74
2700
349.0
short term provisions

Other Current Liabilities
Total Current Liabilities
Long term borrowings
Deffered tax liabilities
long term provisions
796.8
12,632.9
15702.63
64030.14
1,975.0
469.9
990.4
15,938.8
19978.29
77772.13
2,452.5
555.0
Other Long-Term Liabilities

Total Liabilities
Shareholders' Equity
1,036.8
67511.86
26,403.1
1,466.9
82246.46
34,697.9
$3,253.7
$6,359.0
$1,811.4
Fixed assets
construction stores
non-current investments
4312.61
25.3%
4547.58
28.5%
NA
NA
$4,547.6
28.5%
463
9.32
480
9.47
NA
NA
480.5
$9.47
Deffered foreign currency fluctuation assets

Long term loan and advances
Total Assets
Short term borrowings
trade payables
99.5%
8375.07
15926.72
$15,926.7
###
-
98.6%
NA
NA
9612.66
$15,926.7
$15,926.7
98.6%
$9,612.7
$8,375.1
61.0%
$9,612.7
59.5%
NA
NA
3,457.4
$11,832.5
86.2%
4,094.2
$13,706.9
84.9%
Reported Net Income

Other Non-recurring Items
4312.61
-
Non-operating Non-rec. Items

Tax Adjustment
Adjusted Net Income
% margin
$9,612.7
59.5%
Deffered revenue
Total Liabilities and Equity
4,567.1
141489.74
0.000
0.000
Balance Check
Calculation of Fully Diluted Shares Outstanding
Basic Shares Outstanding
Plus: Shares from In-the-Money Options
Less: Shares Repurchased
Net New Shares from Options
NA
NA
#VALUE!
#VALUE!
NA
4547.58
-
$4,547.6
-
Plus: Shares from Convertible Securities

$4,312.6
31.4%
###
$4,547.6
28.2%
NA
NA
#VALUE!
#VALUE!
#VALUE!
NA
$9.32
$9.47
Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
Tranche 4
-
3457.39
4,094.2
#VALUE!
25.2%
(779.5)
25.4%
(880.2)
NA
-
NA
-
NA
#VALUE!
(5.7%)
(5.5%)
NA
NA
NA
3,766.5
113384.08
Tranche 5
Total
Exercise
Price
In-the-Money
Shares
Proceeds
Convertible Securities
Amount
Conversion
Conversion
Price
Ratio
New
Shares
Issue 1
Issue 2
Notes
(1) [to come]
(2) [to come]
Issue 3
Issue 4
Issue 5
(3) [to come]

(4) [to come]
Total
Growth Rates
Sales
1,716.3
6,214.0
113384.08
2027.06
245.9
% sales
106642.81
17,677.9
206.3
###
% sales
Capital Expenditures
82040.09
15,793.8
390.6
3,253.7
6359.00
1,811.4
Cash Flow Statement Data

Depreciation & Amortization
713.44
1618.29
461.79
1786.91
9771.97
2,599.4
5775.63
1,463.0
LTM Credit Statistics

Debt/Total Capitalization
Total Debt/EBITDA
Net Debt/EBITDA
552.85
1491.38
420.70
1889.70
7229.26
$16,146.1
$219.4
$15,926.7
$6,314.1
$9,612.7
Adjusted Diluted EPS
Inventories
Trade receivables
Short-term loan and advances
other current assets
Total Current Assets

Adjusted EBITDA
% margin
4974.37
217.17
13663.62
$13,663.6
3/31/2014
2678.89
195.74
16146.12
219.4
15926.72
6,314.1
9612.66

Adjusted EBIT
% margin
2013A
cash and bank balances

current investments
13727.12
63.5
13663.62
5,288.6
8375.07
Plus: Total Debt

Plus: Preferred Stock
Plus: Noncontrolling Interest
EV/Sales
Balance Sheet Data

Particulars
Prior
Company A (NYSE:AAA)
Input Page
[to come]
General Information
Company Name
Ticker
Company A
AAA
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899
Fiscal Year Ending December 31,

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories
Prepaids and Other Current Assets

Property, Plant and Equipment, net

Goodwill and Intangible Assets
Interest Expense
Pre-tax Income
Income Taxes
Noncontrolling Interest
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
Cash and Cash Equivalents
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company B (NYSE:BBB)
Input Page
[to come]
General Information
Company Name
Ticker
Company B
BBB
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company C (NYSE:CCC)
Input Page
[to come]
General Information
Company Name
Ticker
Company C
CCC
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company D (NYSE:DDD)
Input Page
[to come]
General Information
Company Name
Ticker
Company D
DDD
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company E (NYSE:EEE)
Input Page
[to come]
General Information
Company Name
Ticker
Company E
EEE
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company F (NYSE:FFF)
Input Page
[to come]
General Information
Company Name
Ticker
Company F
FFF
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company G (NYSE:GGG)
Input Page
[to come]
General Information
Company Name
Ticker
Company G
GGG
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company H (NYSE:HHH)
Input Page
[to come]
General Information
Company Name
Ticker
Company H
HHH
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company I (NYSE:III)
Input Page
[to come]
General Information
Company Name
Ticker
Company I
III
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company J (NYSE:JJJ)
Input Page
[to come]
General Information
Company Name
Ticker
Company J
JJJ
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company K (NYSE:K--)
Input Page
[to come]
General Information
Company Name
Ticker
Company K
K--
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company L (NYSE:LLL)
Input Page
[to come]
General Information
Company Name
Ticker
Company L
LLL
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company M (NYSE:MMM)
Input Page
[to come]
General Information
Company Name
Ticker
Company M
MMM
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company N (NYSE:NNN)
Input Page
[to come]
General Information
Company Name
Ticker
Company N
NNN
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Company O (NYSE:OOO)
Input Page
[to come]
General Information
Company Name
Ticker
Company O
OOO
Stock Exchange
Fiscal Year Ending
NYSE
Dec-31

Predicted Beta
Marginal Tax Rate
NA
NA
1.00
38.0%

Current Price
% of 52-week High
52-week High Price
12/30/1899
NA
-
12/30/1899
52-week Low Price

12/30/1899

2005A
9/30/2008
9/30/2008
Accounts Receivable
Inventories


Interest Expense
Pre-tax Income
Income Taxes
Other Assets
Total Assets
Accounts Payable
Preferred Dividends
Net Income
Accrued Liabilities
NA
NA
NA
NA
NA
NA
Total Debt

Total Liabilities
Preferred Stock
0.000
0.000

Enterprise Value


Diluted EPS
Adj. Gross Profit

% margin
NFY
9/302007
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

Balance Check
NFY+1
2008E
2009E
NA
NA
Reported EBIT


Metric
EV/EBITDA
Metric
EV/EBIT
NA
NA
NA
NA
NA
NA

Adjusted EBIT
% margin
NA
NA
NA
NA
NA
NA
Metric
P/E
Metric
NA
-
NA
-
NA
-

Adjusted EBITDA
% margin
NA
NA
NA
NA
NA
NA
Reported Net Income

Options/Warrants
Number of
Tranche
Shares
Tranche 1
Tranche 2
Tranche 3
-
Tax Adjustment
Adjusted Net Income
Tranche 4
Tranche 5
NA
NA
NA
NA
NA
NA
Total

Return on Equity
Return on Assets
NA

Total Debt/EBITDA
Net Debt/EBITDA

% sales
% margin
Growth Rates
Sales
Historical
1-year
2-year CAGR
Estimated
1-year
2-year CAGR
Long-term
9/30/2008
-
Plus: Total Debt

LTM
2007A
9/30/2008
NA
2007A
LTM
COGS
Gross Profit
SG&A
EBIT

Equity Value
EV/Sales
2006A
Current
Stub
Sales
Effective Tax Rate
Trading Multiples
Balance Sheet Data

Prior
Stub
EBITDA
EPS
% sales
Notes
(1) [to come]
(2) [to come]
(3) [to come]
(4) [to come]
NA
-
NA
-
NA
-
NA
-
NA
-
NA
NA
NA
NA
NA
NA
In-the-Money
Shares
-
Proceeds
-
Conversion
Price
Conversion
Ratio
Issue 1
Issue 2
Issue 3
Issue 4
Issue 5
Total
Amount
NA
-
Exercise
Price
New
Shares
Copyright 2009 by Joshua Rosenbaum and Joshua Pearl. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Investment Banking

Valuation, Leveraged Buyouts,

List of Comparable Companies

532898 It is a 'Navratna Public Sector Enterprise' and The Central

LTM Financial Statistics

$16,146 $15,927 #VALUE!

LTM Profitability Margins

Source: Company filings, Bloomberg, Consensus Estimates

LTM Leverage Ratios

LTM Coverage Ratios

Source: Company filings, Bloomberg, Consensus Estimates

Source: Company filings, Bloomberg, Consensus Estimates

PPOWERGRID CORPORATION OF INDIA LTD.

It is a 'Navratna Public Sector Enterprise' and The Central Transmission Utility of

($ in millions, except per share data)

Reported Income Statement

Fiscal Year Ending

Selected Market Data

Fiscal Year Ending March 31,

Less: Cash and Cash Equivalents

Adjusted Income Statement

LTM Return on Investment Ratios

short term provisions

Other Long-Term Liabilities

Deffered foreign currency fluctuation assets

Reported Net Income

Non-operating Non-rec. Items

Plus: Shares from Convertible Securities

(3) [to come]

Cash Flow Statement Data

LTM Credit Statistics

Adjusted Diluted EPS

Other Non-recurring Items

Depreciation & Amortization

Non-recurring Items in COGS

cash and bank balances

Plus: Total Debt

Balance Sheet Data

($ in millions, except per share data)

Reported Income Statement

Moody's Corporate Rating

Selected Market Data

52-week Low Price

Fiscal Year Ending December 31,

Prepaids and Other Current Assets

Property, Plant and Equipment, net

Other Long-Term Liabilities

Adjusted Income Statement

Less: Cash and Cash Equivalents

Reported Gross Profit

Weighted Avg. Diluted Shares

Adj. Gross Profit

Total Current Liabilities

Total Liabilities and Equity

Calculation of Fully Diluted Shares Outstanding

Plus: Shares from In-the-Money Options

Fully Diluted Shares Outstanding

Other Non-recurring Items

Depreciation & Amortization

Reported Net Income

LTM Return on Investment Ratios

Implied Annual Dividend Per Share

LTM Credit Statistics

Adjusted Diluted EPS