Equilest

JULY 20, 2025

2018–2022) Year Revenue ($M) EBITDA Margin CapEx ($M) Working Capital ($M) 2018 8.0 Assumptions Forecast Period: 2023–2027 WACC: 10% Terminal Growth Rate: 3% Final Year FCFF (2027): $1.8M Flat Terminal Growth Assumptions : Even modest changes from 2% to 3% drastically affect terminal value. ?

Business Valuation 52

Business Valuation Terminal Value Enterprise Value EBITDA 52

Valutico

SEPTEMBER 19, 2022

Ultimately, these margins that have already occurred are an outcome of the real world economic conditions that the business operates within, as well as the company’s internal operations, and so having these values reasonably consistent with your future projections is usually a safer bet than allowing them to vary by a huge amount.

Business Valuation 78

Business Valuation EBIT EBITDA Discounted Cash Flow 78

Equidam

APRIL 22, 2025

23] Terminal Value Approaches: Since forecasting cash flows indefinitely is impractical, DCF methods estimate cash flows for an explicit period (e.g., 3-5 years [3] , [24] ) and then calculate a “Terminal Value” (TV) representing the value of all cash flows beyond that point.

Discounted Cash Flow 64

Discounted Cash Flow Terminal Value Marketability EBITDA 64