Transit Bus And Motor Coach Manufacturer Assessment Solution

Transit Bus And Motor Coach Manufacturer Assessment

Table of Contents

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Transit Bus And Motor Coach Manufacturer Assessment

D1: Proterra Picking Up Speed

Background:

This discussion addresses the following Module Outcomes:

Evaluate expected portfolio returns on shareholder value. (CO4)

Evaluate systemic risk by applying a Beta coefficient. (CO4)

Evaluate firm and project value using a weighted average cost of capital (WACC). (CO2, CO3, CO4)

Proterra was founded by Dale Hill in 2004 with a vision to design and manufacture world-leading, advanced technology heavy-duty vehicles powered solely by clean domestic fuels. After launching a first successful fleet of

alternative fuel buses in the 1990s, Proterra focused on developing the ‘bus of tomorrow.’ Proterra Inc. also designs and manufactures heavy-duty vehicles including EcoRide, a battery electric and zero-emissions bus, and

Proterra Catalyst, an electric transit vehicle. The company manufactures a TerraFlex Energy System that enables customers to select amount and type of energy storage to meet specific route requirements, plus TerraVolt fast-

charge batteries, TerraVolt extended range batteries, an on-route charge station and in-depot charging services. It offers financing solutions, route simulation analysis, battery lifecycle management, and standard warranty

services (Proterra, 2015). It serves customers throughout the United States.

The company is privately owned, but is in the process of becoming a public corporation. With this expectation, the firm’s chief executive officer (CEO) has asked for determination of which of two companies appears to be a better

peer to compare itself against, New Flyer Industries, Inc. (a Toronto-based firm), or Tesla. Tesla Motor Vehicles designs, develops, manufactures, and sells high-performance fully electric vehicles and stationary energy storage

units similar to certain Proterra products. Tesla Motors has subsidiaries in North America, Europe and Asia, with the primary purpose of these subsidiaries being to market, manufacture, sell and/or service their vehicles (Tesla

Motors, 2016).

New Flyer was founded in 1930, and is now the largest transit bus and motorcoach manufacturer and parts distributor in North America with fabrication, manufacturing, distribution and service centers in Canada and the United

States. It is North America’s heavy-duty transit bus leader and offers clean diesel, natural gas, diesel-electric hybrid, electric-trolley and battery-electric. Information regarding Tesla and New Flyer is given here, for your use in

comparing these firms.

Tesla versus New Flyer

Significance	Measure	TSLA	NFI
Total Market Value of all outstanding shares.	Market capitalization	33.63B	1.831B
Number of outstanding shares currently held by all shareholders.	Outstanding shares of stock	147.28M	59.742M
A Beta coefficient indicates the systemic risk that an asset has relative to an average asset. A risk-free asset has a Beta of zero.	Beta	1.28	0.16
The return the firm must earn on its existing assets to maintain the value of its stock, and the required return on any investments by the firm that have essentially the same risks as existing operations.	WACC	9.03%	8.34
PE ratio divided by expected future earnings growth (after multiplying the growth rate by 100).	PEG Ratio	18.47	0.5
A measure of profit per dollar of assets.	ROA	-7.04%	6.26%
A measure of how the stockholders fared during the year.	ROE	-113.20%	13.21%
A measure of how much investors are willing to pay per dollar of current earnings. Higher PEs are often taken to mean the firm has significant prospects for future growth.	P/E Ratio	-29.17	25.3
Ratio of Net income to sales.	Profit Margin	-23.91%	-3.83%

Discussion Prompt:

In this discussion, assume that you are the finance manager for Proterra and you have been asked to provide an analysis of the following issues, as the firm develops benchmarks for its cost of capital (WACC) estimates. The

firm’s CEO has instructed you to use the pure play approach to estimate its WACC cost of capital, and has chosen Tesla Motors (ticker symbol TSLA) and New Flyer (ticker symbol NYI.TO) as possible representative peers

(Korosec, 2015). You will deliver your analysis in the form of a memo

(Links to an external site.)

, or formal communication addressed to the firm’s CEO. In this discussion, you are to present this memo in which you:

Tasks:

Using the information provided here and speaking of Finance Director of Proterra, brief the firm’s CEO, analyzing:

Analyze the relative applicability or inapplicability of utilizing these firms as peers to evaluate Proterra’s likely cost of capital, given what you know about Proterra, Tesla and New Flyer, and the lessons of Capital Market History.

Analyze problems in using an SML approach in determining Proterra’s cost of capital.

Post two additional replies to classmates, offering critical analyses and comments relating to their determinations and evaluations of Proterra’s utilization of Tesla as a peer, and problems in the overall approach of evaluating

cost of capital using a WACC. Please cite sources of additional research examine areas where you do and do not believe that your classmates’ statements make optimal use of assigned readings, or could otherwise include

additional considerations.

Responses should comprise 200–600 words.

References

Bloomberg. United States rates and bonds

 (Links to an external site.)

.

Federal Reserve. (2016). Federal Reserve economic data

 (Links to an external site.)

.

Korosec, K. (2015). This startup is gearing up to be the Tesla of electric buses

 (Links to an external site.)

. Fortune Magazine.

Proterra. (2015). About Proterra

 (Links to an external site.)

.

Securities and Exchange Commission. (n.d.) SEC.gov home

 (Links to an external site.)

.

Tesla Motors. (2016). Tesla Motors, Inc. 2016 annual report

 (Links to an external site.)

.

Yahoo. (n.d.) Yahoo finance

 (Links to an external site.)

.

Consult the Discussion Posting Guide for information about writing your discussion posts. It is recommended that your write your post in a document first. Check your work and correct any spelling or grammatical errors. When

you are ready to make your initial post, click on the “Reply”. Then copy/paste the text into the message field, and click “Post Reply.”

To respond to a peer, click “Reply” beneath her or his post and continue as with an initial post.

Evaluation

This discussion will be graded using the discussion board rubric. Please review this rubric, located on the Rubrics page within the Start Here module of the course, prior to beginning your work to ensure your participation meets

the criteria in place for this discussion. All discussions combined are worth 20% of your final course grade.

Transit Bus And Motor Coach Manufacturer Assessment

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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