So your still just modeling fcf, but your looking for an...

So your still just modeling fcf, but your looking for an immediate return on the purchase price/mc?

How many years are you modeling to access your return? Are you applying a terminal value at year 6 or 8 etc?

If your using this method what would be wrong with simply looking for a 15% return in year 1, as long as you are confident the earnings are growing.