Residual Income Valuation Intrinsic Value Calculation

Imagine a firm, GHI Inc., with a last reported book value of equity at $10 million. Analysts are projecting that GHI will generate a net income of $1.2 million in the next year, with the cost of equity estimated at 8%. The firm operates in a stable industry and has consistently maintained its return on equity (ROE) at 10%. Using the Residual Income Valuation model, what is the estimated intrinsic value of GHI's equity per share, assuming there are 1 million shares outstanding?