Apple (AAPL) Stock
Enter Current Fiscal Year in Cell B2: 2025
Historical Fiscal Year-End Data: 2020 2021 2022 2023 2024
Revenues 274515 365817 394328 383285 391035
Cost of Goods Sold 169559 212981 223546 214137 210352
Selling, General & Administrative Expenses 19916 21973 25094 24932 26097
Research and development 18752 21914 26251 29915 31370
Operating Income 66288 130863 145688 144216 154586
Net Interest Expenditure -890 -198 106 183 0
Pre-Tax Income 67178 131061 145582 144033 154586
Taxes 9680 14527 19300 16741 29749
Net Income 57498 116534 126282 127292 124837
Earnings Per Share 3.3136 6.97755 7.78751 8.08499 8.136
Shares Outstanding 17352.1 16701.3 16216 15744.2 15343.8
Apple (AAPL) Bond
Firm Ind Avg
Debt & Coverage Ratios
Debt/Assets 0.84396 0.3
Debt/Equity 5.40878 0.5
Current Assets/Current Liability 0.86731 1.5
EBITDA/Interest NA 0.05
Debt/EBITDA 2.28289 1.15
Cash Flow Ops/Total Debt 0.3839 1.5
Additional Data May Be Entered Below:
2024
Total Debt 308030
Total Assets 364980
Total Equity 56950
Current Asset 152987
Current Liability 176392
EBITDA 134930
Interest Income 0
Operating cash flow 118254
Average Revenue Growth 9.20%
Forecasted Fiscal Year-End Data: 2025 2026 2027 2028 2029 2030
Revenues 427010.22 466295 509194 556040 607196 663057.91147
Cost of Goods Sold 229704.38 250837 273914 299114 326633 356683.05342
Selling, General & Administrative Exp 28497.924 31119.7 33982.7 37109.2 40523.2 44251.338922
Research and development 34256.04 37407.6 40849.1 44607.2 48711.1 53192.493467
Operating Income 134551.87 184338 201297 219817 240040 262123.51913
Net Interest Expenditure -159.8 -159.8 -159.8 -159.8 -159.8 -158.8
Pre-Tax Income 134711.67 184498 201457 219977 240200 262282.31913
Taxes 32485.908 35474.6 38738.3 42302.2 46194 50443.847247
Net Income 102225.76 149023 162719 177674 194006 211838.47188
Earnings Per Share 6.2825148 9.15857 10.0003 10.9194 11.9231 13.01821087
Shares Outstanding 16271.472 16271.5 16271.5 16271.5 16271.5 16272.472
Valuation 2025 2026 2027 2028 2029 2030
Net Capex 11000 11000 11000 11000 11000 11000
Free Cash Flow to Equity 113225.76 160023 173719 188674 205006 222838.47188
Discount Rate 8.43% 8.43% 8.43% 8.43% 8.43% 8.43%
PV of FCFE 104422.91 136108 136269 136494 136779
Growth Rate after 5 year 3%
Terminal Value 4226954.439
Sum of 5 Year DCF 650073.89
Present Value for Terminal Value 2600943
Valuation of APPLE 3251017
Note: Capex is taken as 11000 for Apple as given in morningstar
Note: Constant growth rate of 3% is supposed to happen after 5 years
Caterpillar (CAT) Stock
Enter Current Fiscal Year in Cell B2: 2024
Historical Fiscal Year-End Data: 2019 2020 2021 2022 2023
Revenues 53800 41748 50971 59427 67060
Cost of Goods Sold 37384 29671 35968 41915 43979
Selling, General & Administrative Expenses 5162 4642 5365 5651 6371
Research and development 1693 1415 1686 1814 2108
Operating Income 9561 7435 9638 11861 16710
Net Interest Expenditure 219 402 408 276 17
Pre-Tax Income 9342 7033 9230 11585 16693
Taxes 1746 1006 1742 2067 2781
Net Income 7596 6027 7488 9518 13912
Earnings Per Share 13.5256 11.077 13.7647 18.0641 27.2464
Shares Outstanding 561.6 544.1 544 526.9 510.6
Caterpillar (CAT)
Firm Ind Avg
Debt & Coverage Ratios
Debt/Assets 0.77705 0.3
Debt/Equity 3.48526 0.5
Current Assets/Current Liability 1.35191 1.5
EBITDA/Interest 31.417 0.05
Debt/EBITDA 4.3797 1.15
Cash Flow Ops/Total Debt 0.18956 1.5
Additional Data May Be Entered Below:
Total Debt 67973
Total Assets 87476
Total Equity 19503
Current Asset 46949
Current Liability 34728
EBITDA 15520
Interest 494
Operating cash flow 12885
Average Revenue Growth 4.15%
Forecasted Fiscal Year-End Data: 2024 2025 2026 2027 2028 2029 2030
Revenues 69842.99 72741.5 75760.2 78904.3 82178.8 85589.2 89141.2
Cost of Goods Sold 45804.129 47705 49684.8 51746.7 53894.2 56130.8 58460.2
Selling, General & Administrative Exp 6635.3965 6910.77 7197.56 7496.26 7807.36 8131.36 8468.81
Research and development 2195.482 2286.59 2381.49 2480.32 2583.25 2690.46 2802.11
Operating Income 15207.983 18125.7 18877.9 19661.4 20477.3 21327.1 22212.2
Net Interest Expenditure 264.4 264.4 264.4 264.4 264.4 264.4 264.4
Pre-Tax Income 14943.583 17861.3 18613.5 19397 20212.9 21062.7 21947.8
Taxes 2896.4115 3016.61 3141.8 3272.19 3407.98 3549.41 3696.71
Net Income 12047.171 14844.7 15471.7 16124.8 16804.9 17513.3 18251.1
Earnings Per Share 22.415845 27.6211 28.7878 30.0029 31.2685 32.5865 33.9593
Shares Outstanding 537.44 537.44 537.44 537.44 537.44 537.44 537.44
Valuation 2025 2026 2027 2028 2029 2030
Net Capex 2100 2100 2100 2100 2100 2100
Free Cash Flow to Equity 16944.7 17571.7 18224.8 18904.9 19613.3 20351.1
Discount Rate 8.43% 8.43% 8.43% 8.43% 8.43% 8.43%
PV of FCFE 15627.3 14945.7 14296 13676.6 13085.9
Growth Rate after 5 year 3%
Terminal Value 386033
Sum of 5 Year DCF 71631.421
Present Value for Terminal Value 237535.21
Valuation of Caterpillar 309166.64
Note: Capex is taken as 2100 for Apple as given in morningstar
Note: Constant growth rate of 3% is supposed to happen after 5 years
Consolidated Edison (ED) Stock
Enter Current Fiscal Year in Cell B2: 2024
Historical Fiscal Year-End Data: 2019 2020 2021 2022 2023
Revenues 12574 12246 13676 15670 14663
Cost of Goods Sold 5808 5097 6008 7985 7258
Selling, General & Administrative Expenses 1684 1920 2032 2056 2031
Research and development 0 0 0 0 0
Operating Income 5082 5229 5636 5629 5374
Net Interest Expenditure 991 1019 905 852 1023
Pre-Tax Income 4091 4210 4731 4777 4351
Taxes 296 90 190 498 487
Net Income 3795 4120 4541 4279 3864
Earnings Per Share 11.5525 12.3059 13.0339 12.0705 11.113
Shares Outstanding 328.5 334.8 348.4 354.5 347.7
Consolidated Edison (ED)
Firm Ind Avg
Debt & Coverage Ratios
Debt/Assets 0.68102 0.3
Debt/Equity 2.13503 0.5
Current Assets/Current Liability 1.01161 1.5
EBITDA/Interest NA 0.05
Debt/EBITDA 8.21327 1.15
Cash Flow Ops/Total Debt 0.04773 1.5
Additional Data May Be Entered Below:
Total Debt 45173
Total Assets 66331
Total Equity 21158
Current Asset 6537
Current Liability 6462
EBITDA 5500
Interest 0
Operating cash flow 2156
Average Revenue Growth 5.20%
Forecasted Fiscal Year-End Data: 2024 2025 2026 2027 2028 2029 2030
Revenues 15425.476 16227.6 17071.4 17959.2 18893 19875.5 20909
Cost of Goods Sold 7635.416 8032.46 8450.15 8889.55 9351.81 9838.1 10349.7
Selling, General & Administrative Expe 2136.612 2247.72 2364.6 2487.56 2616.91 2752.99 2896.14
Research and development 0 0 0 0 0 0 0
Operating Income 5653.448 5947.43 6256.69 6582.04 6924.31 7284.37 7663.16
Net Interest Expenditure 958 958 958 958 958 958 958
Pre-Tax Income 4695.448 4989.43 5298.69 5624.04 5966.31 6326.37 6705.16
Taxes 512.324 538.965 566.991 596.475 627.491 660.121 694.447
Net Income 4183.124 4450.46 4731.7 5027.57 5338.82 5666.25 6010.71
Earnings Per Share 12.203524 12.9834 13.8039 14.667 15.5751 16.5303 17.5352
Shares Outstanding 342.78 342.78 342.78 342.78 342.78 342.78 342.78
Valuation 2025 2026 2027 2028 2029 2030
Net Capex 1000 1000 1000 1000 1000 1000
Free Cash Flow to Equity 5450.46 5731.7 6027.57 6338.82 6666.25 7010.71
Discount Rate 8.43% 8.43% 8.43% 8.43% 8.43% 8.43%
PV of FCFE 5026.71 4875.11 4728.18 4585.75 4447.69
Growth Rate after 5 year 3%
Terminal Value 132984
Sum of 5 Year DCF 23663.439
Present Value for Terminal Value 81828.158
Valuation of ED (Consolidated Edison ) 105491.6
Note: Capex is taken as 1000 for Apple as given in morningstar
Note: Constant growth rate of 3% is supposed to happen after 5 years
Northern Trust (NTRS) Stock
Enter Current Fiscal Year in Cell B2: 2024
Historical Fiscal Year-End Data: 2019 2020 2021 2022 2023
Revenues 6073.1 6100.8 6464.5 6761.2 6773.5
Cost of Goods Sold 4143.5 4348.2 4535.9 4982.9 5284.2
Selling, General & Administrative Expenses 0 0 0 0 0
Research and development 0 0 0 0 0
Operating Income 1929.6 1752.6 1928.6 1778.3 1489.3
Net Interest Expenditure 0 0 0 0 0
Pre-Tax Income 1929.6 1752.6 1928.6 1778.3 1489.3
Taxes 451.9 418.3 464.8 430.3 357.5
Net Income 1477.7 1334.3 1463.8 1348 1131.8
Earnings Per Share 6.88808 6.40505 7.03479 6.47112 5.46104
Shares Outstanding 214.53 208.32 208.08 208.31 207.25
Northern Trust (NTRS)
Firm Ind Avg
Debt & Coverage Ratios
Debt/Assets 0.16687 0.3
Debt/Equity 0.57582 0.5
Current Assets/Current Liability 0.30637 1.5
EBITDA/Interest 10.2021 0.05
Debt/EBITDA 0.30846 1.15
Cash Flow Ops/Total Debt 0.38324 1.5
Additional Data May Be Entered Below:
Total Debt 6851
Total Assets 41056.7
Total Equity 11897.9
Current Asset 40325.7
Current Liability 131625
EBITDA 22210
Interest 2177
Operating cash flow 2625.6
Average Revenue Growth 14.02%
Forecasted Fiscal Year-End Data: 2024 2025 2026 2027 2028 2029 2030
Revenues 7723.1447 8805.93 10040.5 11448.2 13053.2 14883.3 16969.9
Cost of Goods Sold 6025.0448 6869.76 7832.9 8931.07 10183.2 11610.9 13238.7
Selling, General & Administrative Exp 0 0 0 0 0 0 0
Research and development 0 0 0 0 0 0 0
Operating Income 1698.0999 1936.17 2207.62 2517.13 2870.04 3272.42 3731.21
Net Interest Expenditure 0 0 0 0 0 0 0
Pre-Tax Income 1698.0999 1936.17 2207.62 2517.13 2870.04 3272.42 3731.21
Taxes 407.6215 464.77 529.931 604.227 688.94 785.529 895.66
Net Income 1290.4784 1471.4 1677.69 1912.91 2181.1 2486.89 2835.55
Earnings Per Share 6.1657463 7.03018 8.01582 9.13963 10.421 11.882 13.5479
Shares Outstanding 209.298 209.298 209.298 209.298 209.298 209.298 209.298
Valuation 2025 2026 2027 2028 2029 2030
Net Capex 100 100 100 100 100 100
Free Cash Flow to Equity 1571.4 1777.69 2012.91 2281.1 2586.89 2935.55
Discount Rate 8.43% 8.43% 8.43% 8.43% 8.43% 8.43%
PV of FCFE 1449.23 1512.02 1578.98 1650.24 1725.96
Growth Rate after 5 year 3%
Terminal Value 55683.5
Sum of 5 Year DCF 7916.4227
Present Value for Terminal Value 34263.347
Valuation of Northern Trust (NTRS) 42179.769
Note: Capex is taken as 100 for Apple as given in morningstar
Note: Constant growth rate of 3% is supposed to happen after 5 years
Macy's (M) Stock
Enter Current Fiscal Year in Cell B2: 2025
Historical Fiscal Year-End Data: 2020 2021 2022 2023 2024
Revenues 25331 18097 25292 25305 23866
Cost of Goods Sold 10160 5811 10336 9999 9723
Selling, General & Administrative Expenses 9056 6851 8143 8356 8509
Research and development 0 0 0 0 0
Operating Income 6115 5435 6813 6950 5634
Net Interest Expenditure 185 280 255 162 135
Pre-Tax Income 5930 5155 6558 6788 5499
Taxes 164 -846 436 341 19
Net Income 5766 6001 6122 6447 5480
Earnings Per Share 18.618 19.2896 19.9544 23.4692 19.9854
Shares Outstanding 309.7 311.1 306.8 274.7 274.2
Macy's
Firm Ind Avg
Debt & Coverage Ratios
Debt/Assets 0.74535 0.3
Debt/Equity 2.927 0.5
Current Assets/Current Liability 1.37449 1.5
EBITDA/Interest 21.4754 0.05
Debt/EBITDA 9.24351 1.15
Cash Flow Ops/Total Debt 0.10777 1.5
Additional Data May Be Entered Below:
Total Debt 12109
Total Assets 16246
Total Equity 4137
Current Asset 6089
Current Liability 4430
EBITDA 1310
Interest 61
Operating cash flow 1305
Average Revenue Growth -0.90%
Forecasted Fiscal Year-End Data: 2025 2026 2027 2028 2029 2030
Revenues 21718.06 19763.4 17984.7 16366.1 14893.2 13552.8
Cost of Goods Sold 8847.93 8051.62 7326.97 6667.54 6067.46 5521.39
Selling, General & Administrative Exp 7743.19 7046.3 6412.14 5835.04 5309.89 4832
Research and development 0 0 0 0 0 0
Operating Income 5126.94 4665.52 4245.62 3863.51 3515.8 3199.38
Net Interest Expenditure 203.4 203.4 203.4 203.4 203.4 203.4
Pre-Tax Income 4923.54 4462.12 4042.22 3660.11 3312.4 2995.98
Taxes 17.29 15.7339 14.3178 13.0292 11.8566 10.7895
Net Income 4906.25 4446.38 4027.9 3647.08 3300.54 2985.19
Earnings Per Share 16.61446 15.0572 13.64 12.3504 11.1769 10.109
Shares Outstanding 295.3 295.3 295.3 295.3 295.3 295.3
Valuation 2025 2026 2027 2028 2029 2030
Net Capex 100 100 100 100 100 100
Free Cash Flow to Equity 5006.25 4546.38 4127.9 3747.08 3400.54 3085.19
Discount Rate 8.43% 8.43% 8.43% 8.43% 8.43% 8.43%
PV of FCFE 4617.034 3866.94 3238.03 2710.79 2268.82
Growth Rate after 5 year 3%
Terminal Value 58521.9
Sum of 5 Year DCF 16701.612
Present Value for Terminal Value 36009.905
Valuation of Macy's 52711.517
Note: Capex is taken as 100 for Apple as given in morningstar
Note: Constant growth rate of 3% is supposed to happen after 5 years
