Prepare for either of the following two companies:
a.
b. EASYJET PLC <- choose this
The valuations must be prepared using any two of the following methods:
i. Prospective price-earnings ratio analysis based on forecast normalised earnings.
ii. Forecast dividend growth model <–choose this
iii. Forecast free cash flow <–choose this
2. Compare the valuations with the actual market value of the company.
3. Discuss the advantages and disadvantages of each of the two methods you have chosen and the problems that may arise in arriving at valuations under those methods, drawing on your findings in 1 and 2 to illustrate your points.
Guidance Notes
Your reference source will be the latest annual report and accounts of your chosen company, which can be downloaded from the investor relations section of the company website (though a google search should give you a direct link to the Annual report). Note that it is the annual report that you must use, not the half-year (interim) statements.
You must show all calculations and identify the source and location of the data. You are recommended to include the calculations as an appendix. You must define all measures used and be particularly careful in the labelling of results. The appendices and tables do not count towards the word count.
Show all your workings clearly. Beware of the temptation to copy from internet sites or other sources. If unacknowledged, this constitutes plagiarism.
Please submit in Arial, font size 12.
The use of research papers is encouraged in your report.
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