Musings on Markets

FEBRUARY 23, 2025

It was only in 2019 that the accounting rule-writers (IFRS and GAAP) finally did the right thing, albeit with a myriad of rules and exceptions. By that measure, equity is free at companies that pay no dividends, an absurd conclusion, since investors in equity anticipate and build in an expectation of price appreciation.

Equity 77

Equity EBITDA Risk Premium Gross Debt 77

Musings on Markets

MAY 20, 2022

Historical Data: 1930-2019 To see how this framework works in practice, let's start by looking at the performance of US stocks, across the decades, and look at the returns on stocks, broadly categorized based on market capitalization and price to book ratios.

Price to Book 103

Price to Book Dividends Beta Equity 103

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 and Potential Dividends (FCFE) 1. Dividend yield & payout 3. Buybacks 2.

Dividends 106

Dividends Risk Premium Equity Book Value 106

Benzinga

SEPTEMBER 12, 2022

– Net Proceeds are expected to be used for general corporate purposes including, but not limited to, additional debt repayment and dividend payments –. EBITDA multiple on 2019 results and a $455K per key valuation –. Price implies a blended 2.9% cap rate and 27.0x PHILADELPHIA, Sept.

Dividends 40

Dividends EBITDA Marketability 40

Musings on Markets

OCTOBER 12, 2023

Even when you are successful in dissuading these companies from "bad" investments, but may not be able to stop them from returning the cash to shareholders as dividends and buybacks, rather than making "good" investments. in the 1998-2010 time period to 5.95 in the 2011-2023 time period.

Market Capitalization 114

Market Capitalization Enterprise Value Start-ups Marketability 114

Valutico

MARCH 1, 2023

Furthermore, the company increased dividends by 10% and announced that it will buy back GBP 2.3 (USD In 2019, the company announced that it plans to reduce its oil and gas output by 40% by 2030. Since publishing these figures, BP’s share price has risen by more than 15%. billion worth of shares.

Discounted Cash Flow 52

Discounted Cash Flow Net Debt EBIT Equity 52

Valutico

NOVEMBER 14, 2022

This strong share price performance was further bolstered by an average gross annual dividend yield of roughly 6% over the past 10 years. Our Trading Comparables analysis produced a valuation range of €178 billion to €222 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT, P/E and P/B.

EBIT 52

EBIT Dividends Equity EBITDA 52