Valuation Pepse

1. CAGR
UPS 0.138894533
Fedex 0.272818325
UPS 0.343001532
Fedex 0.069808761
TOTAL market returns
Cumulative return Net of S&P
Fedex 373
UPS 550.75
Economic Profit
FEDEX
EVA 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
NOPAT 1418 881 750 866 726 727 499 419 405 363
Invested Capital 12050 10870 10090 8636 7863 6882 5663 5081 4655 4456
WACC 10.36% 11.53% 11.35% 11.79% 11.64% 12.05% 12.61% 12.56% 11.18% 11.61%
EVA 169.62 -372.3 -395.215 -152.2 -189.3 -102.3 -215.1 -219.2 -115.4 -154.3
Cumulative EVA -2252
UPS
EVA 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
NOPAT 3309 2589 2846 2955 3215 1909 1379 1545 1448 944
Invested Capital 23391 20802 20007 17161 18845 13350 12514 11796 9679 8280
WACC 9.04% 10.56% 11.23% 12.09% 12.02% 11.26% 12.12% 12.47% 12.72% 13.32%
EVA 1194.5 392.31 599.2139 880.24 949.83 405.79 -137.7 74.039 216.83 -158.9
Cumulative EVA 4328.6
Fedex
Cumulative MVA 11191
UPS
Cumulative MVA 62028

2. Difference
Fedex 13443
UPS 57699

3. 1993 1992
176 187
4344 4078
9.70% 10.99%
-245.4 -261.2
1993 1992
888 914
7195 6932
12.58% 14.20%
-17.13 -70.34