Company Name
Industry
Valuation Date
Country
Province
Canadian Controlled Private Corporation ('CCPC')?
Enter Small Business Limit
Tax Rate up to Small Business Limit
Tax Rate Beyond the Small Business Limit
Fair Market Value ('FMV') of Net Assets required in Business including working capital
# of Historical Years (or Periods) to go back and Normalize?
Trailing Twelve Months (TTM) or Most Recent Fiscal Year Prior Fiscal Year 2nd Previous Fiscal Year 3rd Previous Fiscal Year 4th Previous Fiscal Year
Revenues
Net Income (Loss) Before Taxes (from bottom of Income Statement)
Normalization Adjustments
Historical Normalized EBITDA
Weighting - picked by Valuator (must equal 100%)
Weightings Do not Equal 100%
Expected Normalized EBITDA - based on chosen weightings
less taxes at x% up to SBL of x%, and x% beyond
less: Annual Capital Expenditures (enter as negative, if applicable)
add: Tax Savings on writing off annual Capital Expenditures (usually around 10%)
Normalized Annual Cash Flows
# of Comparables ?
Comp #1 Comp #2 Comp #3 Comp #4 Comp #5
Transaction Date (YYYY-MM-DD)
Description
Country
City
State/Province
Enterprise Value
Revenues - generally of a smilar size to the Subject Co
EBITDA
Enterprise Value to EBITDA Multiple (EV to EBITDA)
Low End of Range:
0x
High End of Range:
0x
Enterprise Value to Sales Multiple (EV to Sales):
Low End of Range:
0x
High End of Range:
0x

Weighted Average Cost of Debt

Prime Rate as at the Valuation Date
Plus Borrowing Premium
Cost of Debt before Tax
0%
less tax savings at weighted average tax rate of X%
0%
After Tax Cost of Debt
0%
Debt Portion of Capital
Weighted Average Cost of Debt
0%

Weighted Average Cost of Equity

Risk-Free Rate as at Valuation Date
Equity Risk Premium as at Valuation Date
Industry Premium as at Valuation Date (optional - not always applicable or available)
Company Specific Risk Premium ('CSR')
Cost of Equity
0%
Equity Portion of Capital
0%
Weighted Average Cost of Debt
0%
Weighted Average Cost of Capital (WACC)
0%
less: expected inflationary growth % (usually between 1.5% to 3%)
less: expected real growth % (usually between 0.5% to 2%)
WACC net of growth
0%
Cash Flow Multiple
0%
Input your reasoning and risk factors as to the debt/equity structure and company specific risk chosen
Normalized Annual Cash Flows from Step 1
0
multipiled by Cash Flow Multiple from Step 3
0
Value of Capitalized Cash Flows
0
plus: Present Value of existing Tax Capital Cost Balances (if applicable)
plus/minus other EV adjustments (stub period income, etc.)
Enterprise Value
0
Enterprise Value calculated in Step 4
0
divided by Expected Normalized EBITDA calculated by Valuator in Step 1
0
Implicit EV to EBITDA Multiple
0
Implicit EV to EBITDA is within range and thus, passes 'santiy check'
WARNING: Implicit EV to EBITDA is outside range and thus, fails 'sanity check' - please either choose a new EBITDA weighting from Step 1, and/or choose different metrics for Debt and Company Specific Risk in Step 3
Enterprise Value calculated in Step 4
0
divided by Subject Co's most recent Revenues from Step 1
0
Implicit EV to Sales Multiple
Valuation Model is Acceptable and passes Sanity Check
WARNING: Valuation Model has Critical Errors - Does not Pass Sanity Check
Enterprise Value calculated in Step 4
0
less: FMV of Business Assets (assets required to operate the business)
0
Implicit Goodwill
0
divided by Expected Normalized EBITDA calculated by Valuator in Step 1
0
Goodwill in terms of Expected Normalized EBITDA Years
0
Implicit Goodwill passes Sanity Test
WARNING: Implicit Goodwill does not pass Sanity Test - please either choose a new EBITDA weighting from Step 1, and/or choose different metrics for Debt and Company Specific Risk in Step 3