Valutico

MARCH 28, 2023

UBS Group AG Weekly Valuation – Valutico | 28 March 2023 Link to the valuation Context In recent days, the financial markets have experienced increased turmoil, causing growing concerns about financial stability. As a result, they have been pouring into money market funds at the highest rate since the COVID pandemic began.

Banking 52

Banking Dividends Equity Marketability 52

Reynolds Holding

DECEMBER 10, 2023

As a capital allocation decision, share buybacks intersect all three of the main corporate finance activities of investing, financing, and dividends [1]. For many mid and large cap companies in the UK and EU, share buybacks are implemented using Open Market Repurchases (OMRs) [9].

Dividends 45

Dividends Total Shareholder Return Corporate Finance Finance 45

Valutico

MARCH 20, 2023

HSBC Holdings plc Weekly Valuation – Valutico | 20 March 2023 Link to the valuation Context The past weeks, the financial market was rattled by the collapse of Silicon Valley Bank, the go-to bank for tech startups, serving half of America’s venture capital-backed tech firms. HSBC is also planning a special dividend of $0.21

Dividends 52

Dividends Banking Equity Market Capitalization 52

Musings on Markets

MAY 7, 2023

While differentiating between good and bad banks can be straightforward, it does not follow that buying good banks and selling bad banks is a good investment strategy, since its success depends entirely on what the market is incorporating into stock prices. Note the differences between the bank FCFE and bank dividend discount models.

Banking 63

Banking Price to Book Dividends Book Value 63

Musings on Markets

NOVEMBER 9, 2021

I have been writing about, and valuing, Tesla for most of its lifetime in public markets, and while it remains a company that draws strong reactions, it is also one that I truly enjoy valuing. Tesla: The Back Story I first valued Tesla in 2013 , as a "luxury automobile company" and I have valued almost every year since.

Start-ups 99

Start-ups Dividends Marketability Market Capitalization 99

Andrew Stolz

FEBRUARY 2, 2022

Highlights: Smartphone market matures, focus on emerging countries. EV market might turn into growth catalyst soon. Attractive dividend yield could rise above 5%. Hon Hai’s revenue breakdown 2020. Smartphone market matures, focus on emerging countries. EV market might turn into growth catalyst soon.

Dividends 52

Dividends Start-ups Marketability Technology 52

Andrew Stolz

JANUARY 24, 2022

Strong years ahead lead to attractive dividend yields. Equinor’s revenue breakdown 2020. In 2021, renewable CAPEX made up 12% of its total CAPEX, compared to 4% in 2020. Strong years ahead lead to attractive dividend yields. I also expect a strong increase in dividends over next 3 years. Ratios – Equinor.

Dividends 52

Dividends Start-ups Business Valuation Marketability 52

GCF Value

SEPTEMBER 28, 2022

and the small business acquisition market has changed significantly. In basic terms, you value a company with two variables, (1) cash flow to the owner (dividends to the investor), and (2) a required rate of return based on the risk of that investment. 2020 = 2.94 (64 comps). Cash Flow and 2020. One year later.

Comps 52

Comps Dividends Appraisal Marketability 52

Andrew Stolz

JANUARY 16, 2022

The hedge fund values the e-commerce business as a stand-alone business more than the total market cap of Kohl’s. Share repurchases and dividends. Kohl’s share price has chronically underperformed the market. The dividend yield could return to 5% in 2022. Changes like: Board composition. Advancing ESG issues. Conclusions.

Dividends 52

Dividends EBIT Marketability Business Valuation 52

Andrew Stolz

JANUARY 28, 2022

Attractive dividend yield could rise to 2x Japanese average. Idemitsu Kosan’s revenue breakdown 2020. I think that the market is too pessimistic about the long-term outlook. Attractive dividend yield could rise to 2x Japanese average. This could result in a massive dividend yield of 5%+ (Japanese average is 2.5%).

Dividends 52

Dividends Risk-free Rate Net Debt Equity 52

Andrew Stolz

APRIL 17, 2020

This is a Valuation Master Class student essay by Kontee Siravongtanawadi from January 16, 2020. Rather it is based on investors’ critical thinking, due diligence, and using methods that combine value and growth strategies such as Peter Lynch’s PEG and dividend adjusted-PEG ratios. However, the best investment strategy is neither.

Dividends 52

Dividends Discounted Cash Flow Start-ups Marketability 52

Musings on Markets

SEPTEMBER 27, 2022

By the start of 2022, the window for early action had closed and for much of this year, inflation has been the elephant in the room, driving markets and forcing central banks to be reactive, and its presence has already induced me to write three posts on its impact.

Risk Premium 74

Risk Premium Treasury Start-ups Equity 74

Andrew Stolz

FEBRUARY 10, 2022

First Gen’s revenue breakdown 2020. Hence, the market raised huge concerns about the longevity and profitability of FGEN’s business to compensate for the lack of gas supply. In 2020, the US-based investment company KKR acquired a 12.6% stake for PHP33 per share, which is a 20% premium to market price. metric tons.

Dividends 52

Dividends Start-ups Marketability Business Valuation 52

Reynolds Holding

OCTOBER 10, 2022

trillion to buy back their shares, which is significantly more than these firms spent on dividend payments to their shareholders (Lazonick, Sakinç, and Hopkins, 2020). Nguyen, Vu, and Yin (2020) reveal a negative association between firms’ stock repurchases and innovation. Journal of Marketing, 82 (2), 19-41. REFERENCES.

Finance 72

Finance Marketability Dividends Corporate Finance 72

Valutico

NOVEMBER 28, 2022

The company already paid over CHF 100 million in settlement in this matter in 2020. . The IPO of ABB’s E-Mobility division was planned for mid-2022 but has been delayed due to unfavorable market conditions. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Valutico

NOVEMBER 28, 2022

The company already paid over CHF 100 million in settlement in this matter in 2020. . The IPO of ABB’s E-Mobility division was planned for mid-2022 but has been delayed due to unfavorable market conditions. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Andrew Stolz

NOVEMBER 21, 2021

In 2020, the Japanese gov’t announced the intention to ban gasoline-powered cars by 2030. Operating cash flows were not able to cover investing activities in 2020 and 2021. The company pays out dividends on a consistent basis. Dividend payout ratio is almost constant around 30%. Cash flow – Toyota. Ratios – Toyota.

Dividends 52

Dividends EBIT Treasury Equity 52

Musings on Markets

OCTOBER 12, 2023

In response, I have been told that the problem is not with the idea of ESG, but in its measurement and application, and that impact investing is the solution to both market and society's problems. If impact investing were measured entirely on fund flows into green energy companies and out of fossil fuel companies, it has clearly succeeded.

Market Capitalization 82

Market Capitalization Enterprise Value Start-ups Marketability 82

Andrew Stolz

NOVEMBER 28, 2021

Tata will set up a new subsidiary in 2020, in its attempt to move forward EV. Also, Tata is likely to maintain its current dominant market share of 70% in India. Given its losses over the past years, it did not pay out any dividends since 2016. We assume that there will be no dividends at least for the next 3 years.

Dividends 52

Dividends EBIT Equity Business Valuation 52

Benzinga

FEBRUARY 15, 2023

per share cash dividend paid _ (1) A reconciliation of GAAP net income to Funds From Operations (FFO) is provided at the end of this press release. All of the properties are well-situated in our core markets and are an excellent strategic fit with our existing portfolio." DIVIDEND SUMMARY On December 29, 2022, ROIC distributed a $0.15

Dividends 40

Dividends EBITDA Intangible Assets Equity 40

Reynolds Holding

AUGUST 2, 2023

trillion in 2020. trillion in 2020 from $22.8 energy intensity classification) We first measure COE using an implied COE estimate that relies on residual income and dividend-discounting valuation models. Last, evolution in the ESG market and concerns about greenwashing contribute to the relationship. trillion in 2016.

Equity 40

Equity Equity Financing Specific Risk Dividends 40

Brian DeChesare

JANUARY 4, 2023

Any discussion of the financial markets in 2022 needs to acknowledge one important fact upfront: it was the worst year for stocks and bonds since at least 1871. Meanwhile, disasters kept emerging in the riskiest parts of the market, such as crypto (see: FTX , Celsius, etc.), 2020: +38%. SPACs , and growth/speculative stocks.

Marketability 91

Marketability Start-ups Treasury Dividends 91

Reynolds Holding

FEBRUARY 21, 2023

Activist Directors – Determinants Our research shows that activists are more likely to demand or acquire board representation if the firm has higher levels of institutional ownership, a smaller market capitalization, worse stock market performance, and, in particular, lower dividend payouts. percent to 3.2 percent to 3.7

Dividends 72

Dividends Marketability EBITDA Market Capitalization 72

Benzinga

JUNE 14, 2023

The Terminal was officially placed in-service and loaded its first vessel in July 2020. billion in place with Royal Bank of Canada, BMO Capital Markets, and JPMorgan Chase Bank N.A., In the event that the Transaction does not close, holders of Subscription Receipts will not be entitled to receive any Dividend Equivalent Payment.

Dividends 40

Dividends Equity Finance EBITDA 40

Musings on Markets

MAY 6, 2022

The nature of markets is that they are never quite settled, as investors recalibrate expectations constantly and reset prices. Clearly, we are not in one of those time periods, as markets approach bipolar territory, with big moves up and down.

Risk Premium 92

Risk Premium Treasury Start-ups Equity 92

Chris Mercer

SEPTEMBER 2, 2022

louis video when looking for a video marketing company. I have focused on the changes and additions, which remain essentially unchanged in the 2020-2021 USPAP (the current version). ” The definition remains unchanged through 2020-2021 USPAP. The extent to which the interest is marketable and/or liquid.

Appraisal 52

Appraisal Intangible Assets Discounted Cash Flow Dividends 52

Andrew Stolz

JANUARY 25, 2022

PBF Energy’s revenue breakdown 2020. Currently, it could produce up to almost 1m barrels per day, which gives it around 5% market share in the US. In 2020, PBF paid $350m to comply with environmental standards. Debt-to-equity ratio in 2020 stood at 2.9x High oil price could offset gains from demand rebound.

Dividends 52

Dividends Compliance Equity Business Valuation 52

Reynolds Holding

JULY 7, 2022

This raises several issues: how realistic it is to rely on shareholders’ resolution as a matter of corporate governance, and whether it is practically appropriate to seek shareholders’ approval when in-market purchases can be achieved in Japan in a short period of time in large quantities. 1210 yen less 300 yen of special dividend).

Dividends 45

Dividends Marketability 45

Musings on Markets

JANUARY 8, 2022

To start the year, I returned to a ritual that I have practiced for thirty years, and that is to take a look at not just market changes over the last year, but also to get measures of the financial standing and practices of companies around the world. I was a believer in big data and crowd wisdom, well before those terms were even invented.

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

Reynolds Holding

APRIL 25, 2022

In order to compel Ford Motor Company (FMC) to pay the special dividend demanded by the Dodge Brothers, the Michigan Supreme Court had to hold that Ford and FMC’s board abused their discretion by refusing to pay a dividend. 923, 937 (2020). [6] 983, 1016 (2011). [5] 5] Jonathan R. Macey, Corporate Law As Myth , 93 S. 6] Saule T.

Dividends 119

Dividends Banking Marketability 119

Benzinga

JULY 26, 2022

The $742 thousand increase in net interest income resulted from an $815 thousand, or 7%, increase in total interest and dividend income, which was partially offset by a $73 thousand, or 15%, increase in total interest expense. million, or 47%, increase in total interest and dividend income, while total interest expense was unchanged.

Banking 40

Banking Dividends Marketability Equity 40

Musings on Markets

JANUARY 12, 2021

I end the class with a corporate finance version of valuation, where I tie inputs into value (cash flows, growth and risk) to investment, financing and dividend decisions. The first and obvious one is that there are no easy ways to beat the market , and anyone who claims to have found one is either lying or heading for a letdown.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Musings on Markets

AUGUST 25, 2023

New York Mets MLB 2020 $2.40 That appeal may be only to a subset of individuals, but these buyers want to own the asset more for the emotional dividends, not the cashflows. Chelsea Premier League 2022 $5.30 Denver Broncos NFL 2022 $4.70 Phoenix Suns NBA 2023 $4.00 Milwaukee Bucks NBA 2023 $3.50 Brooklyn Nets NBA 2019 $2.40

Start-ups 92

Start-ups Dividends Marketability Finance 92

Musings on Markets

JANUARY 5, 2024

I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year.

Dividends 98

Dividends Risk Premium Equity Book Value 98

Musings on Markets

FEBRUARY 27, 2022

That said, about 31% of the net profits of all publicly traded firms listed globally in 2021 were generated by financial service firms; that percent is lower in the US and higher in emerging markets. IFRS and GAAP now treat as leases as debt, but that is still not the case in many other markets that are not covered by either standard).

Start-ups 80

Start-ups Equity Book Value Marketability 80

Musings on Markets

JULY 17, 2023

I am not a market prognosticator for a simple reason. I am just not good at it, and the first six months of 2023 illustrate why market timing is often the impossible dream, something that every investor aspires to be successful at, but very few succeed on a consistent basis.

Marketability 95

Marketability Risk Premium Start-ups Treasury 95

ThomsonReuters

NOVEMBER 11, 2020

Are you able to pay dividends or payments on lines of credit from suppliers? A decline in market capitalization is also a factor to consider when determining whether a triggering event for an impairment test has occurred. Do you have a shortage of working capital? Are you in compliance with requirements? Fair value measurements.

Discounted Cash Flow 52

Discounted Cash Flow Technology Dividends Market Capitalization 52