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Category > Accounting Posted 02 May 2017 My Price 7.00

Harley-Davidson Inc. produces motorcycles

Harley-Davidson Inc. produces motorcycles, motorcycle parts and related accessories and merchandise in the United States and internationally. It is headquartered in Milwaukee, Wisconsin. Use the following information on Harley-Davidson and five other similar companies to value Harley-Davidson as of December 31, 2004.

Net income 889.77
Number of common shares, millions
294.31
Earnings before interest and tax
$1,506.16
Tax rate
35.0%
Book value of equity
$3,218.47
Book value interest-bearing debt
$1,295.44
Total Sales
$5,320.45
Total Assets
$5,483.29
  Harley-Davidson Artic Cat Brunswick Polaris Industries Marine Products Winnebago
5-yr growth rate in sales (%) 15.5 6.2 4.1 6.1 15.5 10.8
5-Yr growth rate in eps (%) 28.1 11.1 47.1 15.9 25.1 17.2
Interest coverage ratio 60.9 * 8.9 85.1 * *
total liabilities to assets (%) 0.4 0.3 0.6 0.5 0.2 0.5
total assets ($ mil) 5483 286 4346 793 110 395
             
Price/earnings (x)   16.9 17.8 27.8 28.6 18.6
MV firm/EBIT(1-tax rate)(x)   17.3 19.4 24.3 29 17.6
MV equity/BV equity (x)   2.8 2.8 8.0 7.7 6.5
MV firm/BV firm (x)   2.8 2.3 7.7 7.7 6.5
Price/Sales (x)   0.8 0.9 1.6 2.7 1.2
MV firm/sales (x)   0.8 1.1 1.7 2.7 1.2
             

*These companies have little or no interest-bearing debt outstanding

 
 

 

Answers

Alpha Geek
(8)
Status NEW Posted 02 May 2017 10:05 AM My Price 7.00

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file 1493719528-answer1.docx preview (424 words )
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