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. To make comparisons, profits are scaled to common metrics, with revenues and book value of investment being the most common scalar.

Start-ups 80

Start-ups Equity Book Value Marketability 80

Musings on Markets

JANUARY 5, 2024

Since I am lucky enough to have access to databases that carry data on all publicly traded stocks, I choose all publicly traded companies, with a market price that exceeds zero, as my universe, for computing all statistics. Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. EBIT & EBITDA multiple s 5.

Dividends 98

Dividends Risk Premium Equity Book Value 98

Musings on Markets

OCTOBER 6, 2023

While I have seen claims that intangibles now account for sixty, seventy or even ninety percent of value, I take these contentions with a grain of salt, since the definition of "intangible" is elastic, and some stretch it to breaking point, and the measures of value used are questionable.

Intangible Assets 104

Intangible Assets Book Value Equity Start-ups 104

Musings on Markets

JANUARY 6, 2023

Thus, without a sense of what comprises a high or low profit margin for a firm, or what the cost of capital is for the typical company, it is easy to create "fairy tale" valuations and analyses. Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world.

Risk Premium 52

Risk Premium Dividends EBITDA Start-ups 52

Musings on Markets

FEBRUARY 4, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100