Musings on Markets

JANUARY 6, 2023

By the same token, it is impossible to use a pricing metric (PE or EV to EBITDA), without a sense of the cross sectional distribution of that metric at the time. 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.

Risk Premium 52

Risk Premium Dividends EBITDA Start-ups 52

Musings on Markets

OCTOBER 12, 2023

Even when you are successful in dissuading these companies from "bad" investments, but may not be able to stop them from returning the cash to shareholders as dividends and buybacks, rather than making "good" investments. trillion of cumulated enterprise value at fossil fuel companies. in the 1998-2010 time period to 5.95

Market Capitalization 82

Market Capitalization Enterprise Value Start-ups Marketability 82

Benzinga

APRIL 21, 2024

billion 1 in enterprise value. The combined company achieves greater scale and reach with combined fiscal year 2023 revenues of approximately $2 billion and higher EBITDA margin pro forma for full cost synergies 4. Tyman shareholders will also be entitled to receive the final dividend of 9.5 Earnings Accretive.

Banking 45

Banking Finance Enterprise Value Dividends 45

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 100

Start-ups Market Capitalization Marketability Equity 100

Class VI Partner

JULY 28, 2021

Discounted Cash Flow Value Discounted Cash Flow Value refers to the calculation of a company’s Enterprise Value on the basis of its ability to generate free cash flow over time. EBITDA Multiple EBITDA Multiple refers to the multiple of EBITDA used to determine a company’s enterprise value.

Book Value 52

Book Value Equity Enterprise Value Fair Market Value 52

Brian DeChesare

JUNE 1, 2022

Traditionally, the sector was viewed as a defensive play for investors who wanted stable dividends and no drama. Companies tend to offer high, stable dividend yields, and they finance their massive capital expenditures primarily with debt , with the highest leverage ratios of any industry outside of financial institutions.

Banking 96

Banking Equity Book Value Capital Structure 96

Equilest

MARCH 17, 2022

Strictly speaking, the result to be taken into account should be the free cash flow generated by the company, i.e. the cash flow actually available to a buyer to repay acquisition debt, through the distribution of dividends: this is the DCF method (for Discounted Cash-Flows), which is detailed below. EBITDA and EBIT). EBE and ENE.

Business Valuation 40

Business Valuation EBIT EBITDA Discounted Cash Flow 40

Brian DeChesare

OCTOBER 12, 2022

If your investment thesis is “undervalued industrial companies with between $5 and $15 million in EBITDA,” try again. EXAMPLE: Let’s say you’re planning to have 10 portfolio companies in your first fund, and the average Purchase Enterprise Value will be $50 million. A proven strategy in a specific , differentiated niche.

Private Equity Firm 59

Private Equity Firm Equity Start-ups Marketability 59

Brian DeChesare

JANUARY 19, 2022

For example, a pension fund might pursue a deal that makes little financial sense, such as one with a 30x+ EBITDA multiple and a 20-year holding period, if it’s required to invest a certain amount in a specific state or province. Accounting, Valuation, and Financial Modeling in the Financial Sponsors Group.

Private Equity Firm 77

Private Equity Firm Banking Equity Finance 77