Shortcut Projections

 

Year	Revenue					Year	NPM	Avg. NPM
12/31/2011	11700.4					2011	10.6
12/31/2012	13276.8					2012	10.4
12/31/2013	14866.8					2013	0.1
12/31/2014	16447.8					2014	12.6
12/31/2015	19162.7					2015	14.4	9.6
Year	Revenue					Year	Total Assets					Year	Total Liabilities	% L/A	% E/A
12/31/2010	10,707.0		End value:	19,162.7		12/31/2010	6,386		End value:	12,446
12/31/2011	11,700.4		Beginning value:	10,707.0		12/31/2011	7,360		Beginning value:	6,386		12/31/2011	2,973.1	40.4%
12/31/2012	13,276.8		No. of years:	5		12/31/2012	8,219		No. of years:	5		12/31/2012	3,104.7	37.8%
12/31/2013	14,866.8		CAGR	0.123460428		12/31/2013	11,517		CAGR	0.142775377		12/31/2013	7,034.4	61.1%
12/31/2014	16,447.8			12.3%		12/31/2014	10,753			14.3%		12/31/2014	5,479.2	51.0%
12/31/2015	19,162.7					12/31/2015	12,446					12/31/2015	6,626.3	53.2%
														48.7%	51.3%
Shortcut Projections		2015	Year +1 (2016)	Year +2 (2017)	Year +3 (2019)	Year +4 (2020)	Year +5 (2021)
Total net revenues		$19,162.7	$21,519.7	$24,166.6	$27,139.1	$30,477.2	$34,225.9
Compounded annual growth		12.3%	12.3%	12.3%	12.3%	12.3%	12.3%
Net earnings		$2,759.0	$2,065.9	$2,320.0	$2,605.4	$2,925.8	$3,285.7
Historical average profit margin		9.6%	9.6%	9.6%	9.6%	9.6%	9.6%
Shortcut Projections		2015	Year +1 (2016)	Year +2 (2017)	Year +3 (2019)	Year +4 (2020)	Year +5 (2021)
Total assets		$12,446.1	$14,225.9	$16,260.2	$18,585.4	$21,243.1	$24,280.9
Compounded annual growth		14.3%	14.3%	14.3%	14.3%	14.3%	14.3%
Total liabilities		$6,626.3	$6,928.0	$7,918.7	$9,051.1	$10,345.4	$11,824.8
Average as a percent of assets		48.7%	48.7%	48.7%	48.7%	48.7%	48.7%
Total sharesholders' equity		$5,819.8	$7,297.9	$8,341.5	$9,534.3	$10,897.7	$12,456.1
Average as a percent of assets		51.3%	51.3%	51.3%	51.3%	51.3%	51.3%