Musings on Markets

FEBRUARY 27, 2022

To make comparisons, profits are scaled to common metrics, with revenues and book value of investment being the most common scalar. The largest sector, in the US, in terms of market capitalization, is information technology and I have argued that tech companies age in "dog years" , with compressed life cycles.

Start-ups 80

Start-ups Equity Book Value Marketability 80

Musings on Markets

MAY 7, 2023

Over time, I expect some improvement in the return on equity, which was 8.78% in 2022, to its five-year average of 9.50%, which is still lower than the cost of equity of 11.67% that I am using for large commercial banks (see picture below for how I am computing an implied cost of equity for the 25 largest banks).

Banking 63

Banking Price to Book Dividends Book Value 63

Benzinga

FEBRUARY 27, 2023

The respective closing stock prices for Ready Capital and Broadmark on February 24, 2023 imply an offer price of $5.90 per Broadmark share, representing a 41% premium or approximately 0.85x tangible book value as of December 31, 2022.

Book Value 40

Book Value Finance Market Capitalization Equity 40

Benzinga

JULY 10, 2023

Based on audited pro forma 2022 combined revenues of $153 million and pro forma 2022 estimated adjusted EBITDA of $18.2 million in estimated cost saving synergies), this acquisition positions SMGI as a leading regional transportation and logistics player across multiple markets in the United States. million (including $2.5

EBITDA 40

EBITDA Book Value Capital Structure Marketability 40

Reynolds Holding

FEBRUARY 22, 2023

Meanwhile, developments in Japanese corporate governance that percolated for nearly two decades recently culminated in a market that has substantially increased the relevance of the pill. The Rise of Anti-Activist Poison Pills , Working Paper (2022), 34 Figure 1 (D). 18, 2021). [10] See Ofer Elder, et al.,

Marketability 64

Marketability Book Value Market Capitalization 64

Musings on Markets

FEBRUARY 27, 2023

Book versus Market : The book debt ratio is built around using the accounting measure of equity, usually shareholder's equity, as the value of equity. The market debt ratio, in contrast, uses the market's estimate of the value of equity, i.e., its market capitalization, as the value of equity.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Musings on Markets

JULY 17, 2023

In my second data update post from the start of this year , I looked at US equities in 2022, with the S&P 500 down almost 20% during the year and the NASDAQ, overweighted in technology, feeling even more pain, down about a third, during the year. That pessimism was not restricted to market outlooks.

Marketability 95

Marketability Risk Premium Start-ups Treasury 95