Musings on Markets

FEBRUARY 27, 2023

Note that this framework applies for all businesses, from the smallest, privately owned businesses, where debt takes the form of bank loans and even credit card borrowing and equity is owner savings, the largest publicly traded companies, where debt can be in the form of corporate bonds and equity is shares held by public market investors.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Musings on Markets

FEBRUARY 27, 2022

That said, about 31% of the net profits of all publicly traded firms listed globally in 2021 were generated by financial service firms; that percent is lower in the US and higher in emerging markets. To make comparisons, profits are scaled to common metrics, with revenues and book value of investment being the most common scalar.

Start-ups 80

Start-ups Equity Book Value Marketability 80

Reynolds Holding

MAY 11, 2023

For our analysis, we draw on an earlier post , in which we argued that the actions of the Swiss authorities made sense from a corporate finance, legal, and financial stability perspective. According to the 2022 CS Annual Report , the book value per share was 11.45 Swiss francs (CHF) per share.

Banking 59

Banking Equity Book Value Treasury 59

Musings on Markets

JANUARY 9, 2021

I spent the first week of 2021 in the same way that I have spent the first week of every year since 1995, collecting data on publicly traded companies and analyzing how they navigated the cross currents of the prior year, both in operating and market value terms.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

JANUARY 5, 2024

Thus, looking at only the companies in the S&P 500 may give you more reliable data, with fewer missing observations, but your results will reflect what large market cap companies in any sector or industry do, rather than what is typical for that industry.

Dividends 98

Dividends Risk Premium Equity Book Value 98

Musings on Markets

JANUARY 31, 2024

While private businesses are often described as profit maximizers, the truth is that if they should be value maximizers. The second is that the sanctions imposed after 2021 on doing business in Russia drove foreign competitors out of the market, leaving the market almost entirely to domestic companies.

Equity 79

Equity Book Value Start-ups Corporate Finance 79

Musings on Markets

NOVEMBER 10, 2022

Accounting 101 I am not an accountant, and have no desire to be one, but I have used their output (accounting statements) as raw material in valuation and corporate finance. Since net income increases by the same magnitude, the company generated $42.5 billion , as reported. billion assessed by accountants.

Finance 74

Finance Start-ups Equity Equity Financing 74