Value Scope

SEPTEMBER 4, 2020

In Q2 2020, total debt to EBITDA fell to 3.3x decline in total debt to EBITDA was attributed to a decline in senior debt to EBITDA, pushing the percentage of subordinate debt to total debt to 15.2%, up 2.4% Despite the simple average enterprise value (EV) to EBITDA multiple remaining at 7.4x than its 2018 average of 7.5x.

Equity 130

Equity EBITDA Marketability Enterprise Value 130

Andrew Stolz

APRIL 3, 2020

This is a Valuation Master Class student essay by Jana Kristofova from October 4, 2018. A private equity firm aims a target return of around 20 – 25% (WallStreetMojo, 2018). Senior Bank Debt / EBITDA 3.0x. The LBO ratios can go to 90% of debt and 10% of equity.

Private Equity Firm 52

Private Equity Firm EBITDA Equity Finance 52

Value Scope

DECEMBER 1, 2023

viewership of F1 races jumped about 545,000 in 2017 and 2018 to 672,000 to 949,000 in 2021 and 1.2 billion of annual revenue and $560 million of EBITDA. Average U.S. million in 2022. Formula One Group, founded in 1950, was purchased for $4.4 billion in 2016 by Liberty Media. The subsidiary reports $2.8

Start-ups 130

Start-ups EBITDA Business Valuation Market Capitalization 130

Benzinga

FEBRUARY 17, 2023

First, the acquisition is expected to be immediately accretive increasing the company's annualized EBITDA by double digits and second, the addition of this clinic further demonstrates Irwin's ability to attract profitable clinics as part of its goal to establishing the world's largest network of psychedelic mental health clinics.

EBITDA 40

EBITDA Marketability 40

Benzinga

FEBRUARY 21, 2023

First, the acquisition is expected to be immediately accretive increasing the company's annualized EBITDA by double digits and second, the addition of this clinic further demonstrates Irwin's ability to attract profitable clinics as part of its goal to establishing the world's largest network of psychedelic mental health clinics.

EBITDA 40

EBITDA Marketability 40

Lighter Capital

MARCH 28, 2024

Median EBITDA Margin Is Negative but Cash Flow Looks Promising Median EBITDA margin was -4%, but more than half (56%) of the companies with negative EBITDA had positive cash flow. Only 27 of the 62 companies with negative EBITDA margin also had negative cash flow. Only 4 SaaS companies traded higher than 20X in Q4.

EBITDA 52

EBITDA Technology Marketability 52

Valutico

APRIL 24, 2023

Recent M&A deals KHC has been making headlines with strategic moves like acquiring Cerebos Pacific in 2018 and selling off assets such as its Indian nutritional beverage and Canadian natural cheese businesses in 2019. Adjusted EBITDA decreased 5.8% The company boasts eight iconic brands with revenue of more than $1 billion.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA Net Debt EBIT 52

Valutico

APRIL 24, 2023

Recent M&A deals KHC has been making headlines with strategic moves like acquiring Cerebos Pacific in 2018 and selling off assets such as its Indian nutritional beverage and Canadian natural cheese businesses in 2019. Adjusted EBITDA decreased 5.8% The company boasts eight iconic brands with revenue of more than $1 billion.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA Net Debt EBIT 52

Reynolds Holding

OCTOBER 10, 2024

The media outrage centers around his 2018 pay package, with many of the headlines reporting a whopping $56 billion as the pay awarded to the CEO under the package. About 72 percent of shareholders voted in favor of the award, roughly the same percentage that voted in favor in 2018 also. firm-years (i.e., We find that only 6.4

Market Capitalization 45

Market Capitalization EBITDA Marketability 45

ThomsonReuters

DECEMBER 19, 2020

For tax years beginning on or after January 1, 2018, Code Sec. For tax years beginning on or after January 1, 2018, Code Sec. ATI was defined as EBITDA, that is, net taxable income after adding back interest expense, taxes, depreciation, and amortization. It expires (sunsets) after December 31, 2025.

EBITDA 105

EBITDA Banking Finance 105

Valutico

JUNE 9, 2023

A notable downturn occurred in April 2018, with the stock plunging 16% due to slowed growth in its IQOS product in Japan, leading to industry-wide concerns. The year 2018 ended with PMI’s stock down by 36.8%, further impacted by a downgrade from Credit Suisse and Altria’s significant investment in e-cigarette company JUUL Labs.

Discounted Cash Flow 52

Discounted Cash Flow EBIT EBITDA Market Capitalization 52

Benzinga

OCTOBER 18, 2024

The stated purchase price represents a multiple of 2024 expected unadjusted EBITDA in line with the Company's previously stated target range of 3-5 times. million in trailing-twelve-month revenue, and has grown at a CAGR of 22% since 2018 without the benefit of a dedicated sales staff or direct marketing efforts.

EBITDA 45

EBITDA Marketability 45

Benzinga

JANUARY 17, 2023

Contentellect was launched in 2018 and began as a specialist content writing service for software-as-a-service companies. Contentellect reported $330,000 of adjusted EBITDA in 2021 (on an unaudited basis). The transaction is expected to close in the first quarter of 2023. Contentellect brings to Onfolio.

EBITDA 40

EBITDA Marketability 40

Shephard Mullin M&A

AUGUST 25, 2020

Plaintiff did not dispute the factual accuracy of any information actually contained within the proxy statement regarding revenue and EBITDA projections for 2017 and 2018 and their underlying assumptions. Morgan Securities LLC conducted before concluding that the deal was fair.

EBITDA 52

EBITDA Equity 52

Valutico

MARCH 9, 2023

In early 2018 the company traded at €250 per share. The Trading Comparables analysis resulted in a valuation range of €305 billion to €492 billion by applying the observed trading multiples EV/Sales, EV/EBITDA, EV/EBIT and P/E. The Discounted Cash Flow analysis produced a value of €330 billion using a WACC of 9.3%.

Discounted Cash Flow 52

Discounted Cash Flow Marketability EBIT Market Capitalization 52

Valutico

JANUARY 9, 2023

Starbucks’ share had a successful time over the last five years as the share price increased by 67% from $60 per share in early 2018 to its current level of $103 per share. The Trading Comparables analysis resulted in a valuation range of $83 billion to $118 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT and P/E.

Discounted Cash Flow 52

Discounted Cash Flow EBIT EBITDA Market Capitalization 52

Valutico

JANUARY 9, 2023

Starbucks’ share had a successful time over the last five years as the share price increased by 67% from $60 per share in early 2018 to its current level of $103 per share. The Trading Comparables analysis resulted in a valuation range of $83 billion to $118 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT and P/E.

Discounted Cash Flow 52

Discounted Cash Flow EBIT EBITDA Market Capitalization 52

Equidam

FEBRUARY 16, 2024

Industry EBITDA multiples used in the VC and DCF with multiple methods Our multiples are based on public market conditions at the beginning of the current year. You can refer to the table at this link to see how they will change for your country specifically. Data is taken at the global level and aggregated by industry.

EBITDA 45

EBITDA Specific Risk Marketability Banking 45

Musings on Markets

OCTOBER 12, 2023

In the chart below, I look at the pricing of fossil fuel companies over time, using EV to sales and EV to EBITDA as pricing metrics: While the pricing metrics swing from year to year, that has always been true at oil companies, since earnings and revenues vary, with oil prices. in the 1998-2010 time period to 5.95

Market Capitalization 114

Market Capitalization Enterprise Value Start-ups Marketability 114

Benzinga

JUNE 16, 2022

times estimated 2023 adjusted EBITDA multiple. Targa now estimates standalone 2022 adjusted EBITDA to be between $2.675 billion and $2.775 billion and year-end leverage ratio of about 2.7 Underpinned by long-term high-quality producer dedications. billion acquisition price represents approximately 7.5 times and improving thereafter.

EBITDA 40

EBITDA Debt Financing Dividends Finance 40

Valutico

MARCH 1, 2023

In early 2018 the company traded at GBP 4.7 (USD The Trading Comparables analysis resulted in a valuation range of GBP 98 (USD 199) billion to GBP 137 (USD 166) billion by applying the observed trading multiples EV/EBITDA, EV/EBIT, P/E and P/B. The CEO expects this dual strategy to add an additional GBP4.9 (USD

Discounted Cash Flow 52

Discounted Cash Flow Net Debt EBIT Equity 52

Benzinga

OCTOBER 13, 2023

We believe our acquisition of the three vessels took place at an opportune time in the market and, despite the recently increased geopolitical uncertainties, we expect all three vessels to make significant contributions to our EBITDA for the benefit of our shareholders which remains the focus of our strategy. "In

EBITDA 40

EBITDA Finance Marketability 40

Benzinga

MARCH 2, 2023

installation for the 2018 Pyeongchang Winter Olympics and a 43,000 sq. Established Operational Footprint Offers Runway for Rapid Growth: The Company recorded $21 million in revenue and regained breakeven core EBITDA profitability in 2022, following headwinds from COVID-19.

EBITDA 40

EBITDA Enterprise Value Technology Marketability 40

Benzinga

DECEMBER 9, 2024

EBITDA: $17M (5) / 2023 Adj. EBITDA: $20M (5) One production stage asset, two exploration stage assets As of December 31, 2023, total measured and indicated mineral resources: 1.6Moz at 3.92 3) Unaudited interim financial statements and notes of Greenstone as of and for the six months ended June 30, 2024. (4)

EBITDA 45

EBITDA Enterprise Value Equity Compliance 45

Cooley M&A

OCTOBER 29, 2018

2018-0300-JTL (Del. Two days after the announcement of the execution of the merger agreement, Akorn notified Fresenius that it was experiencing dismal second quarter results (despite Akorn having reaffirmed its full-year guidance for 2018 at Fresenius’ request on the date that the parties signed the merger agreement).

Compliance 52

Compliance EBITDA Specific Risk Marketability 52

Benzinga

APRIL 22, 2022

million, potential EBITDA could be up to approximately $7.68 collectively, " AI "), pursuant to the definitive agreements, previously announced on March 4, 2022. million and potential net income up to approximately $1.64 These estimates are forward-looking and are subject to the assumptions provided in forward-looking disclaimer below.

EBITDA 40

EBITDA Technology Marketability 40

Benzinga

APRIL 21, 2022

million, potential EBITDA could be up to approximately $7.68 collectively, " AI "), pursuant to the definitive agreements, previously announced on March 4, 2022. million and potential net income up to approximately $1.64 These estimates are forward-looking and are subject to the assumptions provided in forward-looking disclaimer below.

EBITDA 40

EBITDA Technology Marketability 40

Benzinga

MARCH 1, 2024

Given the anticipated operational synergies with the existing Collective Audience digital ecosystem, the acquisition is expected to be operationally EBITDA positive upon completion.

Start-ups 45

Start-ups EBITDA Technology Marketability 45

Benzinga

OCTOBER 31, 2022

zTrip was formed in January 2018 to develop a platform capable of operating local mobility service providers more effectively and efficiently. EBITDA of approximately $16 million, $7 million and $8 million, in years 2021, 2020 and 2019, respectively. Notable acquisition track record with 28 transactions closed since 2018.

EBITDA 40

EBITDA Technology Equity Marketability 40

Andrew Stolz

MAY 8, 2020

This is a Valuation Master Class student essay by Lim Lee Bin from June 16, 2018. Estimate Terminal Value – Terminal Value is then estimated either by using a terminal exit multiple (usually an EBITDA multiple) or with a Terminal Growth Rate ( Gordon Growth Method).

Discounted Cash Flow 52

Discounted Cash Flow Weighted Average Cost of Capital Terminal Value Net Present Value 52

Benzinga

JUNE 20, 2022

Combined Company targeting a low teen Adjusted EBITDA CAGR through 2023 from a 2021 base of $305 million 1. billion of Revenue and $305 million of Adjusted EBITDA in 2021 4. Combined Company Adjusted EBITDA. ($ in millions). Pro forma for the merger, Leonardo SpA and RADA shareholders will own approximately 80.5% 2,764. . .

Technology 40

Technology EBITDA Marketability Dividends 40

IT Valuations

APRIL 22, 2022

We haven’t seen market growth from a valuation perspective this high since 2018. They often feel like they’re the only ones struggling with acquiring new customers, dealing with a fluctuating EBITDA, or fumbling with their financial numbers. Bring in a consultant to help you make the right decisions. . Takeaway #2: ?

Marketability 40

Marketability EBITDA Technology 40

Musings on Markets

NOVEMBER 15, 2022

Venture capitalist, raised on a diet of big stories and total addressable markets has little in common with bankers, trained to think in terms of EV to EBITDA multiples and accounting ROIC, and when put in a room together, it should come as no surprise that they find each other's language indecipherable.

Start-ups 99

Start-ups Marketability Market Capitalization Technology 99

Musings on Markets

SEPTEMBER 19, 2023

In keeping with the times, the prospectus mentions AI multiple times, I counted 32 mentions of AI in the prospectus, and I remain skeptical that AI will (or should) alter grocery shopping in fundamental ways.

Start-ups 133

Start-ups Marketability Technology Equity 133

FE International

MARCH 14, 2018

billion in Q2, 2018 alone—a 49% increase over Q2, 2017. The cloud computing market is predicted to grow to $186 billion in 2018 , and IaaS providers account for $40.8 For a more in-depth exploration, watch this keynote presentation from Microsoft Build 2018. Increasingly, AWS—with profit margins of 26.9%

Marketability 52

Marketability Start-ups EBITDA Business Valuation 52

FE International

APRIL 13, 2022

Founded by Ted Mikulski in 2018, Newor Media set itself apart from its competition by working proactively with all publishers to maximize their revenue – something you would not experience with a larger company offering like Google AdSense. Featured Deal: Newor Media. vs. Revenue. Age of Business. Business Stage. Profitability. B2B vs. B2C.

Private Equity Firm 52

Private Equity Firm Equity B2C Start-ups 52

Musings on Markets

DECEMBER 2, 2020

To get a more realistic pricing, I apply the multiples to Airbnb’s expected values for these metrics in 2025, and then discounting the future values back to today.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52