{ "fileType": "BalanceCheat.Model", "formatVersion": 4, "modelSchemaVersion": 1, "calculationVersion": 4, "metadata": { "id": "synthetic-multiple-growth", "name": "Example Company", "createdAt": "2026-01-01T00:00:00.000Z", "modifiedAt": "2026-01-01T00:00:00.000Z" }, "view": {}, "workspace": { "scenarioVersion": 2, "core": { "schemaVersion": 1, "modelType": "advanced", "revision": 0, "id": "company-1", "currency": "EUR", "calendar": { "calculation": "annual", "startYear": 2026, "actualYears": 1, "fiscalYearEnd": { "month": 12, "day": 31 } }, "policies": { "basis": "legacy-v1" }, "scope": { "version": 1, "rootEntityId": "entity-1" }, "instruments": {}, "legacy": { "type": "industrial", "name": "Example Company", "origin": "blank", "allowZero": true, "actual": { "revenue": 0, "cogs": 0, "sga": 0 }, "otherCARate": 0, "otherCLRate": 0, "opening": { "cash": 0, "ar": 0, "inventory": 0, "otherCA": 0, "ppe": 5000000, "otherNCA": 0, "ap": 0, "otherCL": 0, "revolver": 0, "debt": 0, "otherNCL": 0, "equity": 5000000, "revenue": 0, "assets": 5000000 }, "years": [ { "revenue": 4000000, "growth": 0, "grossMargin": 0, "sga": 0, "da": 0, "taxRate": 25, "capex": 0, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 0, "sgaAmount": 0 }, { "revenue": 4160000, "growth": 0, "grossMargin": 0, "sga": 0, "da": 200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2080000, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0 }, { "revenue": 4326400.000000001, "growth": 0, "grossMargin": 0, "sga": 0, "da": 200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2163200.0000000005, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0 }, { "revenue": 4499456, "growth": 0, "grossMargin": 0, "sga": 0, "da": 200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2249728, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0 }, { "revenue": 4679434.240000001, "growth": 0, "grossMargin": 0, "sga": 0, "da": 200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2339717.1200000006, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0 }, { "revenue": 4866611.6096, "growth": 0, "grossMargin": 0, "sga": 0, "da": 200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2433305.8048, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0 } ], "currency": "EUR", "calendar": { "startYear": 2026, "actualYears": 1, "fiscalYearEnd": { "month": 12, "day": 31 } }, "actuals": { "2026": { "revenue": 4000000, "cogs": 2000000, "sga": 400000, "da": 200000, "capex": 200000, "tax": 350000 } }, "forecastInputs": { "2027": { "tax": 370000 }, "2028": { "tax": 390800.0000000001 }, "2029": { "tax": 412432 }, "2030": { "tax": 434929.28000000014 }, "2031": { "tax": 458326.4512 } } }, "objects": [], "authority": {}, "nextId": 1, "display": { "currency": "EUR", "fx": 1, "units": 1000 }, "notes": {}, "valuation": { "version": 1, "enabled": { "dcf": false, "comps": false, "precedents": false, "lbo": true, "summary": false }, "dcf": { "basis": "reported", "groups": null, "bridgePeriod": 2026, "bridge": { "cash": null, "grossDebt": null, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null }, "start": 2027, "end": 2031, "terminalAfter": 2031, "terminalYear": 2031, "valuationDate": "2027-01-01", "convention": "year-end", "stub": true, "taxMode": "unlevered", "otherFCF": {}, "waccSources": { "taxRate": "input", "costDebt": "input", "capital": "input" }, "wacc": { "override": null, "riskFree": null, "beta": null, "erp": null, "country": 0, "size": 0, "other": 0, "costDebt": null, "taxRate": null, "equityValue": null, "debtValue": null, "debtWeight": null }, "terminal": { "method": "pg", "growth": 2, "multiple": null, "metric": "ebitda", "fcf": null, "normalize": false, "revenueGrowth": null, "ebitMargin": null, "ebitdaMargin": null, "taxRate": null, "capexRate": null, "daRate": null, "nwcRate": null, "other": 0 }, "sensitivity": { "waccStep": 1, "growthStep": 0.5, "multipleStep": 1, "steps": 2 } }, "comps": { "basis": "reported", "groups": null, "bridgePeriod": 2026, "bridge": { "cash": null, "grossDebt": null, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null }, "targetPeriod": 2027, "peerPeriod": "LTM", "metric": "ebitda", "statistic": "median", "override": null, "peers": {} }, "precedents": { "basis": "reported", "groups": null, "bridgePeriod": 2026, "bridge": { "cash": null, "grossDebt": null, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null }, "targetPeriod": 2027, "metric": "ebitda", "statistic": "median", "override": null, "synergyAdjusted": false, "transactions": {} }, "lbo": { "basis": "reported", "groups": null, "bridgePeriod": 2026, "bridge": { "cash": 100000, "grossDebt": 0, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null }, "entryYear": 2026, "exitYear": 2031, "entryMode": "multiple", "entryEV": null, "entryEquity": null, "entryMultiple": 6, "entryMetric": "ebitda", "exitMultiple": 6, "exitMetric": "ebitda", "transactionFeeRate": 0, "transactionFees": null, "financingFeeRate": 0, "financingFees": null, "rollover": 0, "otherUses": 0, "otherSources": 0, "refinanceDebt": null, "minimumCash": 100000, "sweep": 50, "exitFees": 0, "exitBridge": { "leases": null, "minority": null, "pension": null, "nonOperatingAssets": null, "investments": null, "other": null }, "managementOwnership": 0, "ownershipConvention": "pro-rata-management-dilution", "otherSourcesTreatment": "non-participating", "taxPolicy": { "entryNOL": "inherit", "pikDeductible": true }, "tranches": { "senior": { "id": "senior", "name": "Tranche A", "mode": "amount", "amount": 4000000, "leverage": 0, "metric": "ebitda", "cashRate": 6, "pikRate": 0, "amortization": 5, "maturity": 2033, "priority": 0, "sweep": true } }, "distributions": {} }, "summary": { "basis": "ev", "outputs": { "dcf.pg": { "enabled": true, "label": "", "order": 0 }, "dcf.exit": { "enabled": true, "label": "", "order": 1 }, "comps.ebitda": { "enabled": true, "label": "", "order": 2 }, "precedents.ebitda": { "enabled": true, "label": "", "order": 3 } } } }, "tools": { "version": 1, "active": { "model.annual": true, "model.quarterly": false, "model.monthly": false, "model.weekly": false, "value.dcf": false, "value.comps": false, "value.precedents": false, "value.summary": false, "deals.lbo": true } } }, "active": "base", "nextObject": 1, "nextScenario": 1, "nextOverride": 1, "whatIf": { "nextId": 1, "transactions": [] }, "scenarios": [ { "id": "base", "name": "Base", "overrides": [] } ] }, "snapshot": { "version": 4, "calculationVersion": 4, "modelSchemaVersion": 1, "generatedAt": "2026-01-01T00:00:00.000Z", "scenarios": [ { "id": "base", "name": "Base", "currency": "EUR", "moneyScale": 1, "periods": [ { "id": "2026-01-01", "start": "2026-01-01", "end": "2027-01-01", "kind": "actual", "frequency": "annual", "year": 2026, "months": 12, "days": 365, "durationDays": 365, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2026, "fiscalQuarter": 1, "fiscalStart": "2026-01-01", "fiscalEnd": "2027-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2026A" }, { "id": "2027-01-01", "start": "2027-01-01", "end": "2028-01-01", "kind": "forecast", "frequency": "annual", "year": 2027, "months": 12, "days": 365, "durationDays": 365, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2027, "fiscalQuarter": 1, "fiscalStart": "2027-01-01", "fiscalEnd": "2028-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2027E" }, { "id": "2028-01-01", "start": "2028-01-01", "end": "2029-01-01", "kind": "forecast", "frequency": "annual", "year": 2028, "months": 12, "days": 366, "durationDays": 366, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2028, "fiscalQuarter": 1, "fiscalStart": "2028-01-01", "fiscalEnd": "2029-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2028E" }, { "id": "2029-01-01", "start": "2029-01-01", "end": "2030-01-01", "kind": "forecast", "frequency": "annual", "year": 2029, "months": 12, "days": 365, "durationDays": 365, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2029, "fiscalQuarter": 1, "fiscalStart": "2029-01-01", "fiscalEnd": "2030-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2029E" }, { "id": "2030-01-01", "start": "2030-01-01", "end": "2031-01-01", "kind": "forecast", "frequency": "annual", "year": 2030, "months": 12, "days": 365, "durationDays": 365, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2030, "fiscalQuarter": 1, "fiscalStart": "2030-01-01", "fiscalEnd": "2031-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2030E" }, { "id": "2031-01-01", "start": "2031-01-01", "end": "2032-01-01", "kind": "forecast", "frequency": "annual", "year": 2031, "months": 12, "days": 365, "durationDays": 365, "yearFraction": 1, "dayCountBasis": "ACT/ACT", "rateBasis": "annualized", "fiscalYear": 2031, "fiscalQuarter": 1, "fiscalStart": "2031-01-01", "fiscalEnd": "2032-01-01", "fiscalYearEnd": { "month": 12, "day": 31 }, "fiscalStartMonth": 1, "label": "2031E" } ], "opening": { "cash": 0, "ar": 0, "inventory": 0, "otherCA": 0, "ppe": 5000000, "otherNCA": 0, "ap": 0, "otherCL": 0, "revolver": 0, "debt": 0, "otherNCL": 0, "equity": 5000000, "revenue": 0, "assets": 5000000 }, "breakdown": {}, "statements": { "2026-01-01": { "revenue": 4000000, "growth": null, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 0, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 0, "sgaAmount": 0, "cogs": -2000000, "grossProfit": 2000000, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1600000, "ebit": 1400000, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1400000, "tax": -350000, "netIncome": 1050000, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1250000, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1050000, "cash": 1050000, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 1050000, "assets": 6050000, "equity": 6050000, "shareCapital": 0, "retainedEarnings": 5000000, "currentYearNetIncome": 1050000, "dividends": 0, "liabilitiesEquity": 6050000, "fcf": 1050000, "totalCapex": 200000, "collections": 4000000, "suppliers": -2000000, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -350000, "taxExpense": 350000, "cashTax": 350000, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 21, "roe": 19.004524886877828, "roa": 19.004524886877828, "ebitMargin": 35, "ebitdaMargin": 40, "fcfMargin": 26.25, "netDebt": -1050000, "leverage": -0.65625, "workingCapital": 1050000, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 0, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2000000 }, "2027-01-01": { "revenue": 4160000, "growth": 4.0000000000000036, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2080000, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2080000, "grossProfit": 2080000, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1680000, "ebit": 1480000, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1480000, "tax": -370000, "netIncome": 1110000, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1310000, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1110000, "cash": 2160000, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 2160000, "assets": 7160000, "equity": 7160000, "shareCapital": 0, "retainedEarnings": 6050000, "currentYearNetIncome": 1110000, "dividends": 0, "liabilitiesEquity": 7160000, "fcf": 1110000, "totalCapex": 200000, "collections": 4160000, "suppliers": -2080000, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -370000, "taxExpense": 370000, "cashTax": 370000, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 22.2, "roe": 16.80545041635125, "roa": 16.80545041635125, "ebitMargin": 35.57692307692308, "ebitdaMargin": 40.38461538461539, "fcfMargin": 26.682692307692307, "netDebt": -2160000, "leverage": -1.2857142857142858, "workingCapital": 2160000, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 1050000, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2080000 }, "2028-01-01": { "revenue": 4326400.000000001, "growth": 4.000000000000026, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2163200.0000000005, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2163200.0000000005, "grossProfit": 2163200.0000000005, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1763200.0000000005, "ebit": 1563200.0000000005, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1563200.0000000005, "tax": -390800.0000000001, "netIncome": 1172400.0000000005, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1372400.0000000005, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1172400.0000000005, "cash": 3332400.0000000005, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 3332400.0000000005, "assets": 8332400, "equity": 8332400, "shareCapital": 0, "retainedEarnings": 7160000, "currentYearNetIncome": 1172400.0000000005, "dividends": 0, "liabilitiesEquity": 8332400, "fcf": 1172400.0000000005, "totalCapex": 200000, "collections": 4326400.000000001, "suppliers": -2163200.0000000005, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -390800.0000000001, "taxExpense": 390800.0000000001, "cashTax": 390800.0000000001, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 23.448000000000004, "roe": 15.135163047687906, "roa": 15.135163047687906, "ebitMargin": 36.13165680473373, "ebitdaMargin": 40.75443786982248, "fcfMargin": 27.098742603550303, "netDebt": -3332400.0000000005, "leverage": -1.8899727767695098, "workingCapital": 3332400.0000000005, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 2160000, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2163200.0000000005 }, "2029-01-01": { "revenue": 4499456, "growth": 3.9999999999999813, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2249728, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2249728, "grossProfit": 2249728, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1849728, "ebit": 1649728, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1649728, "tax": -412432, "netIncome": 1237296, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1437296, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1237296, "cash": 4569696, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 4569696, "assets": 9569696, "equity": 9569696, "shareCapital": 0, "retainedEarnings": 8332400, "currentYearNetIncome": 1237296, "dividends": 0, "liabilitiesEquity": 9569696, "fcf": 1237296, "totalCapex": 200000, "collections": 4499456, "suppliers": -2249728, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -412432, "taxExpense": 412432, "cashTax": 412432, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 24.745919999999998, "roe": 13.822917718685007, "roa": 13.822917718685007, "ebitMargin": 36.66505461993628, "ebitdaMargin": 41.11003641329085, "fcfMargin": 27.498790964952207, "netDebt": -4569696, "leverage": -2.4704691716836207, "workingCapital": 4569696, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 3332400.0000000005, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2249728 }, "2030-01-01": { "revenue": 4679434.240000001, "growth": 4.000000000000026, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2339717.1200000006, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2339717.1200000006, "grossProfit": 2339717.1200000006, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1939717.1200000006, "ebit": 1739717.1200000006, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1739717.1200000006, "tax": -434929.28000000014, "netIncome": 1304787.8400000003, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1504787.8400000003, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1304787.8400000003, "cash": 5874483.84, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 5874483.84, "assets": 10874483.84, "equity": 10874483.84, "shareCapital": 0, "retainedEarnings": 9569696, "currentYearNetIncome": 1304787.8400000003, "dividends": 0, "liabilitiesEquity": 10874483.84, "fcf": 1304787.8400000003, "totalCapex": 200000, "collections": 4679434.240000001, "suppliers": -2339717.1200000006, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -434929.28000000014, "taxExpense": 434929.28000000014, "cashTax": 434929.28000000014, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 26.095756800000007, "roe": 12.76439407412296, "roa": 12.76439407412296, "ebitMargin": 37.17793713455412, "ebitdaMargin": 41.45195808970274, "fcfMargin": 27.883452850915585, "netDebt": -5874483.84, "leverage": -3.0285260564179577, "workingCapital": 5874483.84, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 4569696, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2339717.1200000006 }, "2031-01-01": { "revenue": 4866611.6096, "growth": 3.9999999999999813, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2433305.8048, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2433305.8048, "grossProfit": 2433305.8048, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 2033305.8048, "ebit": 1833305.8048, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1833305.8048, "tax": -458326.4512, "netIncome": 1374979.3536, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1574979.3536, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1374979.3536, "cash": 7249463.1936, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 7249463.1936, "assets": 12249463.193599999, "equity": 12249463.193599999, "shareCapital": 0, "retainedEarnings": 10874483.84, "currentYearNetIncome": 1374979.3536, "dividends": 0, "liabilitiesEquity": 12249463.193599999, "fcf": 1374979.3536, "totalCapex": 200000, "collections": 4866611.6096, "suppliers": -2433305.8048, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -458326.4512, "taxExpense": 458326.4512, "cashTax": 458326.4512, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 27.499587071999997, "roe": 11.892254826583898, "roa": 11.892254826583898, "ebitMargin": 37.67109339860972, "ebitdaMargin": 41.78072893240648, "fcfMargin": 28.253320048957292, "netDebt": -7249463.1936, "leverage": -3.5653580373824147, "workingCapital": 7249463.1936, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 5874483.84, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2433305.8048 } }, "statementUnits": { "revenue": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "growth": { "unit": "percent", "kind": "rate", "sign": "signed", "aggregation": "weighted" }, "grossMargin": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "sga": { "unit": "percent", "kind": "rate", "sign": "signed", "aggregation": "weighted" }, "da": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "taxRate": { "unit": "percent", "kind": "rate", "sign": "signed", "aggregation": "weighted" }, "capex": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "dso": { "unit": "days", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "dio": { "unit": "days", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "dpo": { "unit": "days", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "debt": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "interestRate": { "unit": "percent", "kind": "rate", "sign": "signed", "aggregation": "weighted" }, "payout": { "unit": "percent", "kind": "rate", "sign": "signed", "aggregation": "weighted" }, "cogsAmount": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "sgaAmount": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cogs": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "grossProfit": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "otherOperatingIncome": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "sgaExpense": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "ebitda": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "ebit": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "interest": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "interestIncome": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "impairment": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "otherOperatingExpense": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "manualOtherNonCashExpense": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "ebt": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "tax": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "netIncome": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "ar": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "grossAR": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "impairmentAllowance": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "inventory": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "ap": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "otherCA": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "otherCL": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "nonCashProvision": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "changeAR": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "changeInventory": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "changeAP": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "changeOtherWC": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "daAddback": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "otherNonCash": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "operatingNonCash": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "nonOperatingReclassification": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cfo": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "capexOut": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "disposalProceeds": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "otherOperatingCF": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "otherInvestingCF": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "otherFinancingCF": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cfi": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "debtIssued": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "debtRepaid": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "revolver": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "fundingChange": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "dividendsOut": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "expense-negative", "aggregation": "sum" }, "cff": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cashChange": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cash": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "ppe": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "otherNCA": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "otherNCL": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "currentAssets": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "assets": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "equity": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "shareCapital": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "retainedEarnings": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "currentYearNetIncome": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "dividends": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "liabilitiesEquity": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "fcf": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "totalCapex": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "collections": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "suppliers": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "operatingPayments": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "interestPaid": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "taxPaid": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "taxExpense": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cashTax": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "taxPayable": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "interestExpense": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "cashInterest": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "interestPayable": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "roic": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "roe": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "roa": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "ebitMargin": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "ebitdaMargin": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "fcfMargin": { "unit": "percent", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "netDebt": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "leverage": { "unit": "multiple", "kind": "multiple", "sign": "signed", "aggregation": "recompute" }, "workingCapital": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "nwc": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "ccc": { "unit": "days", "kind": "ratio", "sign": "signed", "aggregation": "recompute" }, "currentRatio": { "unit": "multiple", "kind": "multiple", "sign": "signed", "aggregation": "recompute" }, "quickRatio": { "unit": "multiple", "kind": "multiple", "sign": "signed", "aggregation": "recompute" }, "beginningCash": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "first" }, "balanceCheck": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "investedCapital": { "unit": "currency", "scale": 1, "kind": "stock", "sign": "signed", "aggregation": "last" }, "purchases": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "arAdjustment": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "inventoryAdjustment": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "extraDividend": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "equipmentPurchase": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "extraDA": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "scenarioBorrowing": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" }, "scenarioRepayment": { "unit": "currency", "scale": 1, "kind": "flow", "sign": "signed", "aggregation": "sum" } }, "objects": [], "adjusted": { "basis": "adjusted", "groups": [], "statements": { "2026-01-01": { "revenue": 4000000, "growth": null, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 0, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 0, "sgaAmount": 0, "cogs": -2000000, "grossProfit": 2000000, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1600000, "ebit": 1400000, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1400000, "tax": -350000, "netIncome": 1050000, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1250000, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1050000, "cash": 1050000, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 1050000, "assets": 6050000, "equity": 6050000, "shareCapital": 0, "retainedEarnings": 5000000, "currentYearNetIncome": 1050000, "dividends": 0, "liabilitiesEquity": 6050000, "fcf": 1050000, "totalCapex": 200000, "collections": 4000000, "suppliers": -2000000, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -350000, "taxExpense": 350000, "cashTax": 350000, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 21, "roe": 19.004524886877828, "roa": 19.004524886877828, "ebitMargin": 35, "ebitdaMargin": 40, "fcfMargin": 26.25, "netDebt": -1050000, "leverage": -0.65625, "workingCapital": 1050000, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 0, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2000000 }, "2027-01-01": { "revenue": 4160000, "growth": 4.0000000000000036, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2080000, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2080000, "grossProfit": 2080000, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1680000, "ebit": 1480000, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1480000, "tax": -370000, "netIncome": 1110000, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1310000, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1110000, "cash": 2160000, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 2160000, "assets": 7160000, "equity": 7160000, "shareCapital": 0, "retainedEarnings": 6050000, "currentYearNetIncome": 1110000, "dividends": 0, "liabilitiesEquity": 7160000, "fcf": 1110000, "totalCapex": 200000, "collections": 4160000, "suppliers": -2080000, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -370000, "taxExpense": 370000, "cashTax": 370000, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 22.2, "roe": 16.80545041635125, "roa": 16.80545041635125, "ebitMargin": 35.57692307692308, "ebitdaMargin": 40.38461538461539, "fcfMargin": 26.682692307692307, "netDebt": -2160000, "leverage": -1.2857142857142858, "workingCapital": 2160000, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 1050000, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2080000 }, "2028-01-01": { "revenue": 4326400.000000001, "growth": 4.000000000000026, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2163200.0000000005, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2163200.0000000005, "grossProfit": 2163200.0000000005, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1763200.0000000005, "ebit": 1563200.0000000005, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1563200.0000000005, "tax": -390800.0000000001, "netIncome": 1172400.0000000005, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1372400.0000000005, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1172400.0000000005, "cash": 3332400.0000000005, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 3332400.0000000005, "assets": 8332400, "equity": 8332400, "shareCapital": 0, "retainedEarnings": 7160000, "currentYearNetIncome": 1172400.0000000005, "dividends": 0, "liabilitiesEquity": 8332400, "fcf": 1172400.0000000005, "totalCapex": 200000, "collections": 4326400.000000001, "suppliers": -2163200.0000000005, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -390800.0000000001, "taxExpense": 390800.0000000001, "cashTax": 390800.0000000001, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 23.448000000000004, "roe": 15.135163047687906, "roa": 15.135163047687906, "ebitMargin": 36.13165680473373, "ebitdaMargin": 40.75443786982248, "fcfMargin": 27.098742603550303, "netDebt": -3332400.0000000005, "leverage": -1.8899727767695098, "workingCapital": 3332400.0000000005, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 2160000, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2163200.0000000005 }, "2029-01-01": { "revenue": 4499456, "growth": 3.9999999999999813, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2249728, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2249728, "grossProfit": 2249728, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1849728, "ebit": 1649728, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1649728, "tax": -412432, "netIncome": 1237296, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1437296, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1237296, "cash": 4569696, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 4569696, "assets": 9569696, "equity": 9569696, "shareCapital": 0, "retainedEarnings": 8332400, "currentYearNetIncome": 1237296, "dividends": 0, "liabilitiesEquity": 9569696, "fcf": 1237296, "totalCapex": 200000, "collections": 4499456, "suppliers": -2249728, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -412432, "taxExpense": 412432, "cashTax": 412432, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 24.745919999999998, "roe": 13.822917718685007, "roa": 13.822917718685007, "ebitMargin": 36.66505461993628, "ebitdaMargin": 41.11003641329085, "fcfMargin": 27.498790964952207, "netDebt": -4569696, "leverage": -2.4704691716836207, "workingCapital": 4569696, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 3332400.0000000005, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2249728 }, "2030-01-01": { "revenue": 4679434.240000001, "growth": 4.000000000000026, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2339717.1200000006, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2339717.1200000006, "grossProfit": 2339717.1200000006, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 1939717.1200000006, "ebit": 1739717.1200000006, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1739717.1200000006, "tax": -434929.28000000014, "netIncome": 1304787.8400000003, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1504787.8400000003, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1304787.8400000003, "cash": 5874483.84, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 5874483.84, "assets": 10874483.84, "equity": 10874483.84, "shareCapital": 0, "retainedEarnings": 9569696, "currentYearNetIncome": 1304787.8400000003, "dividends": 0, "liabilitiesEquity": 10874483.84, "fcf": 1304787.8400000003, "totalCapex": 200000, "collections": 4679434.240000001, "suppliers": -2339717.1200000006, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -434929.28000000014, "taxExpense": 434929.28000000014, "cashTax": 434929.28000000014, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 26.095756800000007, "roe": 12.76439407412296, "roa": 12.76439407412296, "ebitMargin": 37.17793713455412, "ebitdaMargin": 41.45195808970274, "fcfMargin": 27.883452850915585, "netDebt": -5874483.84, "leverage": -3.0285260564179577, "workingCapital": 5874483.84, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 4569696, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2339717.1200000006 }, "2031-01-01": { "revenue": 4866611.6096, "growth": 3.9999999999999813, "grossMargin": 50, "sga": 0, "da": -200000, "taxRate": 25, "capex": 200000, "dso": 0, "dio": 0, "dpo": 0, "debt": 0, "interestRate": 0, "payout": 0, "cogsAmount": 2433305.8048, "sgaAmount": 400000, "arAdjustment": 0, "inventoryAdjustment": 0, "extraDividend": 0, "equipmentPurchase": 0, "extraDA": 0, "scenarioBorrowing": 0, "scenarioRepayment": 0, "cogs": -2433305.8048, "grossProfit": 2433305.8048, "otherOperatingIncome": 0, "sgaExpense": -400000, "ebitda": 2033305.8048, "ebit": 1833305.8048, "interest": 0, "interestIncome": 0, "impairment": 0, "otherOperatingExpense": 0, "manualOtherNonCashExpense": 0, "ebt": 1833305.8048, "tax": -458326.4512, "netIncome": 1374979.3536, "ar": 0, "grossAR": 0, "impairmentAllowance": 0, "inventory": 0, "ap": 0, "otherCA": 0, "otherCL": 0, "nonCashProvision": 0, "changeAR": 0, "changeInventory": 0, "changeAP": 0, "changeOtherWC": 0, "daAddback": 200000, "otherNonCash": 0, "operatingNonCash": 0, "nonOperatingReclassification": 0, "cfo": 1574979.3536, "capexOut": -200000, "disposalProceeds": 0, "otherOperatingCF": 0, "otherInvestingCF": 0, "otherFinancingCF": 0, "cfi": -200000, "debtIssued": 0, "debtRepaid": 0, "revolver": 0, "fundingChange": 0, "dividendsOut": 0, "cff": 0, "cashChange": 1374979.3536, "cash": 7249463.1936, "ppe": 5000000, "otherNCA": 0, "otherNCL": 0, "currentAssets": 7249463.1936, "assets": 12249463.193599999, "equity": 12249463.193599999, "shareCapital": 0, "retainedEarnings": 10874483.84, "currentYearNetIncome": 1374979.3536, "dividends": 0, "liabilitiesEquity": 12249463.193599999, "fcf": 1374979.3536, "totalCapex": 200000, "collections": 4866611.6096, "suppliers": -2433305.8048, "operatingPayments": -400000, "interestPaid": 0, "taxPaid": -458326.4512, "taxExpense": 458326.4512, "cashTax": 458326.4512, "taxPayable": 0, "interestExpense": 0, "cashInterest": 0, "interestPayable": 0, "roic": 27.499587071999997, "roe": 11.892254826583898, "roa": 11.892254826583898, "ebitMargin": 37.67109339860972, "ebitdaMargin": 41.78072893240648, "fcfMargin": 28.253320048957292, "netDebt": -7249463.1936, "leverage": -3.5653580373824147, "workingCapital": 7249463.1936, "nwc": 0, "ccc": 0, "currentRatio": null, "quickRatio": null, "beginningCash": 5874483.84, "balanceCheck": 0, "investedCapital": 5000000, "purchases": 2433305.8048 } } }, "analysis": { "outputs": { "valuation.lbo.entry.ev": { "value": 9600000, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.entry.equity": { "value": 9700000, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.entry.perShare": { "value": null, "unit": "currency/share", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.irr": { "value": 19.590233256619584, "unit": "percent", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.moic": { "value": 2.4461245413460118, "unit": "multiple", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.sponsor": { "value": 5700000, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.proceeds": { "value": 13942909.885672268, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.entryEV": { "value": 9600000, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] }, "valuation.lbo.exitEV": { "value": 12199834.8288, "unit": "currency", "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] } }, "operators": { "lbo": { "domain": "deals", "basis": "reported", "groups": null, "error": null, "outputs": [ { "id": "lbo.entry", "label": "LBO – Entry valuation", "low": { "ev": 9600000, "equity": 9700000, "perShare": null, "adjustment": 100000, "items": { "cash": 100000, "grossDebt": 0, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null } }, "mid": { "ev": 9600000, "equity": 9700000, "perShare": null, "adjustment": 100000, "items": { "cash": 100000, "grossDebt": 0, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null } }, "high": { "ev": 9600000, "equity": 9700000, "perShare": null, "adjustment": 100000, "items": { "cash": 100000, "grossDebt": 0, "leases": 0, "minority": 0, "pension": 0, "nonOperatingAssets": 0, "investments": 0, "other": 0, "shares": null } }, "dependencies": [ "lbo.assumptions", "model.periods", "adjustments.groups" ] } ], "rows": [ { "year": 2027, "taxPaid": 310000, "nolOpening": 0, "nolGenerated": 0, "nolUsed": 0, "nolClosing": 0, "taxableIncome": 1240000, "taxExpense": 310000, "cashTax": 310000, "taxPayable": 0, "unlevered": 1110000, "cashInterest": 240000, "pik": 0, "taxShield": 60000, "cashGeneration": 930000, "mandatory": 200000, "sweep": 365000, "cash": 465000, "shortfall": 0, "debt": 3435000, "distribution": 0 }, { "year": 2028, "taxPaid": 339275.0000000002, "nolOpening": 0, "nolGenerated": 0, "nolUsed": 0, "nolClosing": 0, "taxableIncome": 1357100.0000000005, "taxExpense": 339275.0000000002, "cashTax": 339275.0000000002, "taxPayable": 0, "unlevered": 1172400.0000000002, "cashInterest": 206100, "pik": 0, "taxShield": 51525, "cashGeneration": 1017825.0000000002, "mandatory": 200000, "sweep": 591412.5000000001, "cash": 691412.5000000001, "shortfall": 0, "debt": 2643587.5, "distribution": 0 }, { "year": 2029, "taxPaid": 372778.1875, "nolOpening": 0, "nolGenerated": 0, "nolUsed": 0, "nolClosing": 0, "taxableIncome": 1491112.75, "taxExpense": 372778.1875, "cashTax": 372778.1875, "taxPayable": 0, "unlevered": 1237296, "cashInterest": 158615.25, "pik": 0, "taxShield": 39653.8125, "cashGeneration": 1118334.5625, "mandatory": 200000, "sweep": 754873.53125, "cash": 854873.53125, "shortfall": 0, "debt": 1688713.96875, "distribution": 0 }, { "year": 2030, "taxPaid": 409598.57046875014, "nolOpening": 0, "nolGenerated": 0, "nolUsed": 0, "nolClosing": 0, "taxableIncome": 1638394.2818750006, "taxExpense": 409598.57046875014, "cashTax": 409598.57046875014, "taxPayable": 0, "unlevered": 1304787.8400000003, "cashInterest": 101322.838125, "pik": 0, "taxShield": 25330.709531250002, "cashGeneration": 1228795.7114062505, "mandatory": 200000, "sweep": 891834.6213281252, "cash": 991834.6213281252, "shortfall": 0, "debt": 596879.3474218748, "distribution": 0 }, { "year": 2031, "taxPaid": 449373.2609886719, "nolOpening": 0, "nolGenerated": 0, "nolUsed": 0, "nolClosing": 0, "taxableIncome": 1797493.0439546877, "taxExpense": 449373.2609886719, "cashTax": 449373.2609886719, "taxPayable": 0, "unlevered": 1374979.3536, "cashInterest": 35812.760845312485, "pik": 0, "taxShield": 8953.190211328154, "cashGeneration": 1348119.7829660159, "mandatory": 200000, "sweep": 396879.34742187476, "cash": 1743075.0568722663, "shortfall": 0, "debt": 0, "distribution": 0 } ], "values": { "entryEV": 9600000, "purchaseEquity": 9700000, "ownership": 1, "retainedDebt": 0, "exitEV": 12199834.8288, "sponsor": 5700000, "proceeds": 13942909.885672268, "distributions": 0, "moic": 2.4461245413460118, "irr": 19.590233256619584, "shortfall": 0 } } }, "summary": null }, "tools": { "version": 1, "active": { "model.annual": true, "model.quarterly": false, "model.monthly": false, "model.weekly": false, "value.dcf": false, "value.comps": false, "value.precedents": false, "value.summary": false, "deals.lbo": true } }, "resolution": { "version": 1, "branches": {} } } ] } }