• Sharebar

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

Comments (3)