Brian DeChesare

SEPTEMBER 13, 2023

However, various books and textbooks have defined “distressed” as follows: Debt Discounts – If Secured Debt is trading in the low 90% range or below, or Unsecured Debt is trading in the 60-70% range or less, it’s typically distressed. A sharply declining stock price does not necessarily mean a company is “distressed.”

Equity 103

Equity Banking EBITDA Start-ups 103

Musings on Markets

JANUARY 5, 2024

Beta & Risk 1. Book Value Multiples 3. 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). Return on Equity 1. Debt Ratios & Fundamentals 1. Debt Details 1. Buybacks 2.

Dividends 106

Dividends Risk Premium Equity Book Value 106

Reynolds Holding

JULY 13, 2023

In a new book , I discuss “investment crowdfunding” (also known as “equity crowdfunding” or “securities crowdfunding”), an inclusive new type of online venture capital market – it’s like Kickstarter , except you get a share of stock. It is based on his new book, Investment Crowdfunding (Oxford University Press 2023), available here.

Beta 40

Beta Marketability Compliance Equity 40

Benzinga

FEBRUARY 9, 2023

Examples of the digital "in-world" experiences the Platform anticipates making available include slot machines, a sports book, Texas Hold'em tournaments, and various other games of chance using a sweepstakes model.

Beta 40

Beta eCommerce Marketability Equity 40

Musings on Markets

JANUARY 31, 2024

Looking at accounting returns, broken down by sector, for US and global companies, here is what 2023 delivered: In both the US and globally, technology companies deliver the highest accounting returns , but these returns are skewed by the accounting inconsistencies in capitalizing R&D expenses.

Equity 82

Equity Book Value Start-ups Corporate Finance 82

Equidam

JULY 3, 2025

Consider this stark example: two online food delivery services each charge a flat $5 service fee for bookings. Company A facilitates $100,000 in food orders monthly, while Company B facilitates $500,000. Based on GMV multiples, Company B appears five times more valuable. Yet both generate identical revenue of $5,000 monthly.

B2B 45

B2B Marketability Beta Alpha 45

ThomsonReuters

JANUARY 12, 2021

because everything is disparate and people are working in their own version of the Excel book that is being passed around.”. We’re making so many changes,” Rathore said, “and optimizing DataFlow further based on feedback we’re receiving from our beta customers and testers.”. it creates inconsistencies,” Rathore noted.

Beta 52

Beta Compliance Finance Technology 52

Valutico

AUGUST 10, 2023

However, market information required for CAPM, such as beta coefficients and risk premiums, may not be available for SMEs. Why not book your demo here to find out how Valutico can help you in valuing SMEs. The discount rate is another contentious area. The post How to value SMEs: A Simplified Roadmap appeared first on Valutico.

Discounted Cash Flow 52

Discounted Cash Flow Asset-based Approach Intangible Assets Business Valuation 52

Brian DeChesare

MAY 24, 2023

4) Moderate Net Exposure and Beta to Bonds and Equities – The image below shows the full spread of these variables: activist funds are highly correlated with equities, merger arbitrage is much less so, and everything else is in the middle. But lock-up periods are longer than most long/short equity funds.

Equity 64

Equity Start-ups EBITDA Banking 64

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. Check rules of thumb : Investing and corporate finance are full of rules of thumb, many of long standing. Cost of Equity 1. PE & PEG 2.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

JULY 22, 2021

The second is the cost of capital, a number that most valuation classes and books (including mine) belabor to the point of diminishing returns. Finally, dismissing Zomato as an investment, just because it does not make money now, or fails to meet some conventional value tests on pricing (PE, Price to Book), is investing malpractice.

Marketability 99

Marketability Start-ups Equity Beta 99

Valutico

OCTOBER 20, 2022

B = Beta. (Rm DCF WACC—similar to the above except that it calculates a different WACC in each forecast period based on a changing capital structure (D/E) and thus a changing beta in each period. Try booking a demo , if this applies to you. Ce = Cost of Equity. Rf = Risk-free Rate. Rm – Rf) = Equity Market Risk Premium.

Discounted Cash Flow 52

Discounted Cash Flow Terminal Value Weighted Average Cost of Capital Net Present Value 52

Global Finance

JUNE 9, 2025

Additional significant Independent Labs include: Beta-I, TechQuartier , and Tenity. For example, in 2024 it compiled a pitch book consisting of technological offerings to meet ESG challenges. In Boston, Mass Challenge is a 501(c) accelerator. While acting primarily as a think tank, the lab does produce tangible projects.

Banking 52

Banking Technology Finance Compliance 52

Appraiser Newsroom

JUNE 4, 2024

He is member of the Beta Gamma Sigma Honor Society, Financial Executives International, and the National Association of Corporate Directors (NACD). Dr. Everett also has an M&A Advisory and business valuation practice. He specializes in the valuations of business enterprises and their intangible assets.

Business Valuation 59

Business Valuation Intangible Assets Appraisal Finance 59

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 median debt ratio, defined both in book and market terms, for a global firm at the start of 2023 was between 10% and 20% of overall capital.

EBITDA 52

EBITDA Equity Start-ups Net Debt 52

Brian DeChesare

AUGUST 10, 2022

The entire Energy Services vertical is like a “high Beta” play on oil and gas prices. Example Valuations, Pitch Books, Fairness Opinions, and Investor Presentations. Books: I’ve never found great books on valuation and financial modeling in this sector, but you can find a few references on Amazon.

Banking 98

Banking Dividends EBITDA Equity 98

Brian DeChesare

NOVEMBER 9, 2022

Prop trading firms are like “high beta” versions of sales & trading desks and traditional hedge funds. This category is so huge that it’s hard to say anything specific – but any trader managing their own book is “entrepreneurial” since the job requires independence and quick decisions under pressure.

Banking 93

Banking Equity Start-ups Marketability 93

Valutico

AUGUST 17, 2022

The calculation of these discount rates are based on the observed betas of similar listed peer companies. If you want to learn more about the VC Method, book your demo here. The post Announcement: Valutico Provides Easier Way to Value Startups appeared first on Valutico.

Start-ups 52

Start-ups EBIT Weighted Average Cost of Capital Discounted Cash Flow 52

Brian DeChesare

JUNE 29, 2022

3) High Net Exposure and High Beta – Since most activist hedge funds target undervalued and misunderstood companies, they are effectively long equities most of the time. You can find dozens, if not hundreds, of activist hedge fund presentations and letters online, but there are surprisingly few good books about the sector.

Private Equity Firm 52

Private Equity Firm Equity Start-ups Banking 52