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DEBRA, next big tax reform in Europe?

Simply Treasury

Concept of notional interest : It is proposed to introduce notional interest, the idea of which is to allow the deduction during 10 consecutive years of this "synthetic" interest, within the famous limit of 30% of the company's EBITDA. risk premium if the company is an SME as defined by European law).

Equity 52
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The Dividend Discount Model (DDM): The Black Sheep of Valuation?

Brian DeChesare

In our forecast, Cash rises too much, and Debt / EBITDA goes from 5.0x Dividend Discount Model, Part 4: Present Value of Terminal Value and Dividends Since the Dividend Discount Model is based on Equity Value, not Enterprise Value, the Discount Rate is the Cost of Equity: Risk-Free Rate + Equity Risk Premium * Levered Beta.