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Hey Guys,

For a study rapport we have to make a full fledged valuation of Ralph Lauren using the standard DCF approach. In the course we work with invested capital, noplat and work that out to FCFF.

I've set up a small spreadsheet with the financial statements of the past 5 years and the calculations for invested capital, NOPLAT and free cash flow..

Now obviously the change in cash calculated should match the change in cash on the balance sheet, yet I get differences between 28% and 81% for 2009 and 2010 with the actual balance sheet change in cash.

I was wondering if perhaps some modeling experts/experienced analysts could shine their light on the situation and offer some advice on how to get the numbers to match up.

Thanks for any help in advance

Ralph Lauren - Spreadsheet V1.xls61.5 KB

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Comments (3)

  • Isuckatlife's picture

    Are you pulling the 2009 and 2010 numbers right from the company filings or are you starting with an earlier year and trying to model 2009, 2010, 2011, etc?

  • Drijver's picture

    All of the analysis is based on actual company filings (10K's 2008-2012), we are trying to look for historical invested capital, noplat and free cash flows for the period. I hope that clears it up for you.

  • KarateBoy's picture

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