Musings on Markets

FEBRUARY 15, 2023

As I have argued in all four of my posts, so far, about 2022, it was year when we saw a return to normalcy on many fronts, as treasury rates reverted back to pre-2008 levels, and risk capital discovered that risk has a downside.

Start-ups 52

Start-ups Equity Risk Premium Risk-free Rate 52

Musings on Markets

FEBRUARY 27, 2023

That, for instance, is the only way to explain why older telecom companies, which developed a practice of borrowing large amounts during their time as monopoly phone businesses, continue that practice, even as their business have evolved into intensely competitive, technology businesses. at least with technology companies).

Equity 52

Equity EBITDA Start-ups Net Debt 52

Benzinga

APRIL 18, 2022

DENVER, April 18, 2022 (GLOBE NEWSWIRE) -- National Bank Holdings Corporation (NYSE: NBHC ) reported: . . . . . . . . . . . . The transaction has a value of $136.0 on April 14, 2022. First Quarter 2022 Results (All comparisons refer to the fourth quarter of 2021, except as noted). at March 31, 2022.

Banking 40

Banking Book Value Equity Intangible Assets 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 Based on audited pro forma 2022 combined revenues of $153 million and pro forma 2022 estimated adjusted EBITDA of $18.2 million (including $2.5 million (including $2.5

EBITDA 40

EBITDA Book Value Capital Structure Marketability 40

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. Book value is the value attributable to shareholders in case the company sells all its assets and repays its liabilities (also called liquidation value). Value estimate – Hyundai.

EBIT 52

EBIT Price to Book Book Value Liquidation Value 52

Reynolds Holding

NOVEMBER 8, 2023

Continuing the ESG Performance and Enterprise Value series, this post applies regression analysis to a global sample of companies over a five-year period (June 2017 to June 2022), in order to explore the relationship from a regional perspective. ,” which dove deeper into this relationship from a sector-specific standpoint.

Enterprise Value 52

Enterprise Value Price to Book Marketability Book Value 52

ThomsonReuters

JUNE 15, 2021

Goodwill is an accounting term for the figure that is recorded on the balance sheet after subtracting the book value of a business from the higher price that was paid for it. ASC 842, Leases , a substantially new accounting standard that public companies have already adopted but goes into effect in 2022 for private companies.

Risk-free Rate 64

Risk-free Rate Equity Start-ups Book Value 64

Musings on Markets

OCTOBER 6, 2023

The Value of Intangible Assets Accounting has historically done a poor job dealing with intangible assets, and as the economy has transitioned away from a manufacturing-dominated twentieth century to the technology and services focused economy of the twenty first century, that failure has become more apparent.

Intangible Assets 104

Intangible Assets Book Value Equity Start-ups 104

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

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. It is undeniable that 2022 was a tumultuous year, with inflation taking center stage, and driving markets.

Risk Premium 52

Risk Premium Dividends EBITDA Start-ups 52

Musings on Markets

JULY 22, 2021

It would be churlish on my part to take issue with the bloat and selective disclosure in Zomato's prospectus, since they are following the script that other technology companies around the world have written for going public, but it is frustrating to read through 420 pages, and still be left in the dark on key numbers.

Marketability 86

Marketability Start-ups Equity Price to Book 86

Musings on Markets

FEBRUARY 4, 2023

The company's return on invested capital has steadily declined, even as it has scaled up, hovering just over 3% in 2021-2022. You see similar movements in the price to book, where the stock has gone from trading under book value to 6.7 times revenues in the most recent two years.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100