Musings on Markets

MAY 20, 2022

I then examine how equities have performed in the less than five months of 2022, where inflation has returned to the front pages. The former is short hand for the small cap premium and the latter is the proxy for the value factor in returns.

Price to Book

Reynolds Holding

NOVEMBER 8, 2023

The January 2023 report ESG Performance and Enterprise Value: Do Firms with Stronger ESG Performance Have Higher Valuation Ratios? investigated the relationship between the ISS ESG Performance Score (a normalized version of the ISS ESG Corporate Rating ) and two valuation ratios from the ISS Economic Value Added (EVA) framework.

Enterprise Value

Musings on Markets

JANUARY 6, 2023

I also report on pricing statistics, again broken down by industry grouping, with equity (PE, Price to Book, Price to Sales) and enterprise value (EV/EBIT, EV/EBITDA, EV/Sales, EV/Invested Capital) multiples. Standard deviation in stock price 2. Price to Book 3. Cost of Equity 1.

Risk Premium

Musings on Markets

JULY 22, 2021

Revenue Share : While the market share and total market yield the gross order value for Zomato, the company posts only its share of these orders, as revenues. I will assume a partial bounce back to 22% of GOV , starting in 2022, but the presence of Amazon Food will prevent a return to higher values in the future.

Marketability

Musings on Markets

MAY 7, 2023

Consequently, you can only value the equity in a bank, and by extension, the only pricing multiples you can use to price banks are equity multiples (PE, Price to Book etc.).

Banking

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