hard · Investment Banking

An analyst is comparing two terminal value methods in a DCF. The Year 5 UFCF is $100M, WACC is 10%, and the perpetuity growth rate is 2%. The Year 5 EBITDA is $200M.

What exit multiple would make the two terminal value calculations equivalent?

  1. 6.38x
  2. 5.00x
  3. 12.75x
  4. 8.00x

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