Musings on Markets

FEBRUARY 23, 2025

Across regions, and looking just at non-financial firms, the US has the highest debt ratio, in book value terms, but among the lowest in market value terms. Note that the divergence between book and market debt ratios in the last two columns varies widely across sectors and regions.

Equity 77

Equity EBITDA Risk Premium Gross Debt 77

Musings on Markets

JANUARY 5, 2024

Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. EBIT & EBITDA multiple s 5. Working capital needs Thus, I compute pricing multiples based on revenues (EV to Sales, Price to Sales), earnings (PE, PEG), book value (PBV, EV to Invested Capital) or cash flow proxies (EV to EBITDA).

Dividends 106

Dividends Risk Premium Equity Book Value 106

FE International

DECEMBER 31, 2021

That is, were the companies in those transactions valued as a multiple of EBIT , EBITDA , revenue, or some other parameter? If you figure out what the key valuation parameter is, you can examine at what multiples of those parameters the comparable companies were valued. How to Value an Advertising Business.

Weighted Average Cost of Capital 52

Weighted Average Cost of Capital Business Valuation Precedent Transaction Analysis Start-ups 52

Andrew Stolz

JANUARY 12, 2022

Hyundai has allocated 2022 CAPEX of US$1.1bn, roughly 15% of its total CAPEX budget, to develop two further fuel cell plants. If it can maintain a 6-7% EBIT margin it changes the market’s assessment of the company. If it can maintain a 6-7% EBIT margin, then this could be a catalyst for share price performance.

EBIT 52

EBIT Price to Book Liquidation Value Book Value 52

Valutico

DECEMBER 15, 2022

The ratio is either related to the Equity Value or ratios related to the Enterprise Value. . An example of an enterprise multiple: EV/Sales, EV/EBITDA, EV/EBIT and practically all non-financial multiples (e.g. This is because Enterprise Value consists of Debt + Equity but Equity Value only consists of Equity.

Precedent Transaction Analysis 52

Precedent Transaction Analysis Comparable Company Analysis EBITDA Enterprise Value 52

Valutico

DECEMBER 15, 2022

The ratio is either related to the Equity Value or ratios related to the Enterprise Value. . An example of an enterprise multiple: EV/Sales, EV/EBITDA, EV/EBIT and practically all non-financial multiples (e.g. This is because Enterprise Value consists of Debt + Equity but Equity Value only consists of Equity.

Precedent Transaction Analysis 52

Precedent Transaction Analysis Comparable Company Analysis EBITDA Enterprise Value 52

Musings on Markets

JANUARY 6, 2023

For example, I have seen it asserted that a stock that trades at less than book value is cheap or that a stock that trades at more than twenty times EBITDA is expensive. Price to Book 3. EV/EBIT and EV/EBITDA 4. Standard deviations in equity and firm value 4. EBITDA, EBIT and EBITDAR&D Margins 3.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52