Valuing a Division of a Company (DCF)
Hello,
I have a question regarding a (uni) project I'm currently working on. My task is to carry out a DCF valuation of ThyssenKrupp's elevator division. Have created several DCF analyses in the past, but I'm kind of stuck at the moment. Reason is that most of the figures reported in their ARs are consolidated figures. How can I, for example, calculate historical and forecasted FCFs if I do not know some of the items that I need to calculate it?
They do report sales, EBIT, CapEx and D&A on division-level, among other things, but obviously not working capital (current assets and liabilities), leases, etc. What kind of assumptions would be sensible to make in this case so that I can calculate the FCF?
Many thanks in advance for the help.