VESPER

Model Practice

Unseen case: Corvale Instruments · Guided

Exit
D18
fx
D18
Blue = typed inputBlack = formulaGrey = givenRow markers: given · placeholder · calculated · yours
Line item
BFY2023Actual
actualsCFY2024Actual
forecastDFY2025Proj
EFY2026Proj
FFY2027Proj
GFY2028Proj
HFY2029Proj
Assumptions and Drivers
2Revenue growth
14.0%
14.0%
14.0%
14.0%
14.0%
3COGS % of sales (excluding D&A)
61.0%
61.0%
61.0%
61.0%
61.0%
4SG&A % of sales
14.0%
14.0%
14.0%
14.0%
14.0%
5Depreciation % of beginning PP&E
12.0%
12.0%
12.0%
12.0%
12.0%
6Tax rate
24.0%
24.0%
24.0%
24.0%
24.0%
7DSO (days)
38
38
38
38
38
8Days inventory on hand
82
82
82
82
82
9DPO (days)
51
51
51
51
51
10Other current assets % of revenue
3.0%
3.0%
3.0%
3.0%
3.0%
11Accrued liabilities % of revenue
4.0%
4.0%
4.0%
4.0%
4.0%
12Deferred revenue % of revenue
2.0%
2.0%
2.0%
2.0%
2.0%
13Capex % of revenue
7.0%
7.0%
7.0%
7.0%
7.0%
14Interest rate
5.5%
5.5%
5.5%
5.5%
5.5%
15Dividend payout %
30.0%
30.0%
30.0%
30.0%
30.0%
Income Statement
17Revenueyours
28,000
31,920
18Revenue Growthyours
14.0%
19COGS (excluding D&A)yours
16,992
19,522
20Gross Profityours
11,008
12,398
21Gross Marginyours
39.3%
38.8%
22SG&Ayours
3,920
4,469
23EBITDAyours
7,088
7,929
24Depreciationyours
1,488
1,545
25Operating Income / EBITyours
5,600
6,384
26Interest Expenseyours
495
495
27Pre-Tax Incomeyours
5,105
5,889
28Taxesyours
1,225
1,413
29Net Incomeyours
3,880
4,476
Balance Sheet
31Cashyours
6,003
7,942
32Accounts Receivableyours
2,915
3,323
33Inventoryyours
3,949
4,502
34Other Current Assetsyours
840
958
35Total Current Assetsyours
13,707
16,725
36PP&Eyours
12,872
13,561
37Total Assetsyours
26,579
30,286
38Accounts Payableyours
2,430
2,770
39Accrued Liabilitiesyours
1,120
1,277
40Deferred Revenueyours
560
638
41Total Current Liabilitiesyours
4,110
4,685
42Debtyours
9,000
9,000
43Total Liabilitiesyours
13,110
13,685
44Contributed Capitalyours
5,500
5,500
45Retained Earningsyours
7,969
11,101
46Total Stockholders' Equityyours
13,469
16,601
47Total Liabilities & Equityyours
26,579
30,286
48Balance Checkyours
OK
OK
Cash Flow Statement
50Net Incomeyours
3,880
4,476
51Depreciationyours
1,488
1,545
52Change in Accounts Receivableyours
(358)
(408)
53Change in Inventoryyours
(485)
(553)
54Change in Other Current Assetsyours
(103)
(118)
55Change in Accounts Payableyours
298
340
56Change in Accrued Liabilitiesyours
138
157
57Change in Deferred Revenueyours
69
78
58Cash Flow From Operationsyours
4,927
5,517
59Capital Expendituresyours
(1,960)
(2,234)
60Cash Flow From Investingyours
(1,960)
(2,234)
61Debt Issuance / Repaymentyours
–
–
62Dividendsyours
(1,164)
(1,343)
63Cash Flow From Financingyours
(1,164)
(1,343)
64Net Change in Cashyours
1,803
1,940
65Beginning Cashyours
4,200
6,003
66Ending Cashyours
6,003
7,942
Supporting Schedules
PP&E Schedule
69Beginning PP&Eyours
12,400
12,872
70(+) Capital Expendituresyours
1,960
2,234
71(–) Depreciationyours
(1,488)
(1,545)
72Ending PP&Eyours
12,872
13,561
Retained Earnings Schedule
74Beginning Retained Earningsyours
5,253
7,969
75(+) Net Incomeyours
3,880
4,476
76(–) Dividendsyours
(1,164)
(1,343)
77Ending Retained Earningsyours
7,969
11,101