Dividends Enterprise Value Equity Multiples Market Capitalization 
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.). Note the differences between the bank FCFE and bank dividend discount models.
Musings on Markets
OCTOBER 25, 2022
An intuitive reading of the FCFE is that it is cash available to be returned to equity investors, either in the form of dividends or as cash buybacks. It is the rare firm that follows a residual cash policy, returning its FCFE every year as dividends and/or buybacks.
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