Benzinga

SEPTEMBER 21, 2023

In our Dissident Circular, we used what we thought was a very generous 5x EV/EBITDA multiple for Strathcona and the combined entity versus a conservative 3.5x EV/EBITDA assumed for Pipestone. If the combined company trades at 4x EV/2023 EBITDA, the equity would be valued at $1.80 to ~4x EBITDA. 4 per share.

EBITDA 40

EBITDA Equity Marketability 40

Valutico

DECEMBER 15, 2022

The ratio used might be EV/EBITDA, EV/Sales, P/E or another, depending on the valuation performed and the type of business being valued. So another major assumption when adopting this method, is that the type of ratio chosen as the comparison point, such as P/E or EV/EBITDA should be similar across similar firms. .

Precedent Transaction Analysis 52

Precedent Transaction Analysis EBITDA Comparable Company Analysis Enterprise Value 52

Valutico

DECEMBER 15, 2022

The ratio used might be EV/EBITDA, EV/Sales, P/E or another, depending on the valuation performed and the type of business being valued. So another major assumption when adopting this method, is that the type of ratio chosen as the comparison point, such as P/E or EV/EBITDA should be similar across similar firms. .

Precedent Transaction Analysis 52

Precedent Transaction Analysis EBITDA Comparable Company Analysis Enterprise Value 52

Benzinga

JUNE 16, 2022

times estimated 2023 adjusted EBITDA multiple. Targa now estimates standalone 2022 adjusted EBITDA to be between $2.675 billion and $2.775 billion and year-end leverage ratio of about 2.7 HOUSTON and DALLAS and NEW YORK, June 16, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. billion acquisition price represents approximately 7.5

EBITDA 40

EBITDA Debt Financing Dividends Finance 40

Benzinga

FEBRUARY 29, 2024

million Adjusted EBITDA of $237.6 million Adjusted EBITDA of $68.2 million Adjusted EBITDA of $237.6 million Adjusted EBITDA of $68.2 We will work quickly to realize synergies to drive improved Adjusted EBITDA margins and cash flows as we focus on investing in innovation and reducing our overall net leverage."

EBITDA 40

EBITDA Dividends Technology Total Shareholder Return 40

Benzinga

JANUARY 29, 2024

The transaction, which has been unanimously approved by Science 37 Board of Directors, is valued at an equity value of approximately $38 million and will be structured as an all-cash tender offer to acquire all outstanding shares of Science 37. . 1) Adjusted EBITDA is a non-GAAP financial measure.

EBITDA 40

EBITDA Equity Technology Marketability 40

Musings on Markets

JANUARY 31, 2024

In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed into the expected returns we demand on investments, and argued that these expected returns become hurdle rates for businesses, in the form of costs of equity and capital.

Equity 79

Equity Book Value Start-ups Corporate Finance 79

Benzinga

OCTOBER 24, 2023

24, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company ("Shentel" or the "Company") (NASDAQ: SHEN ) announced today it has entered into a definitive agreement to acquire 100% of the equity interests in Horizon Acquisition Parent LLC ("Horizon" or "Horizon Telcom") for $385 million (the "Transaction"). EDINBURG, Va., 3 Includes $9.6

EBITDA 40

EBITDA Banking Finance Dividends 40

Musings on Markets

JANUARY 5, 2024

Return on Equity 1. Equity Risk Premiums 2. Costs of equity & capital 4. Costs of equity & capital 1. Fundamental Growth in Equity Earnings 2. Return on Equity 2. Standard Deviation in Equity/Firm Value 2. EBIT & EBITDA multiple s 5. Beta & Risk 1. Debt Details 1. Buybacks 2.

Dividends 98

Dividends Risk Premium Equity Book Value 98

Brian DeChesare

APRIL 19, 2023

Metals & Mining Investment Banking Definition: In metals & mining investment banking, professionals advise companies that find, produce, and distribute base metals, bulk commodities, and precious metals on debt and equity issuances and mergers and acquisitions. You might be wondering if “inflation” should be on this list.

Banking 52

Banking Start-ups Private Equity Firm Equity 52

Benzinga

DECEMBER 29, 2022

"Located in one of the United States' most robust wind resources areas, these wind farms will grow and diversify our presence in the United States. Boralex will fund the Purchase Price from available cash resources. Expected 2023 contribution to Boralex combined EBITDA (US GAAP) of approximately CA$[39]M (US$[28]M).

EBITDA 52

EBITDA Marketability Equity 52

Valutico

SEPTEMBER 22, 2023

This method is common in industries where valuations are commonly expressed as a multiple of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) or Earnings Before Interest and Taxes (EBIT). It represents the total market value of the company’s equity. billion, and EBITDA is $500 million.

Intangible Assets 52

Intangible Assets Discounted Cash Flow Book Value EBITDA 52

Brian DeChesare

MAY 24, 2023

Event-Driven Hedge Funds Definition: Event-driven hedge funds bet on specific corporate actions, such as M&A deals, divestitures, spin-offs, bankruptcies, and business reorganizations, and they profit based on changes in the value of a company’s debt or equity after the action. EBITDA multiple , matching its own. revenue and 11.5x

Equity 64

Equity Start-ups EBITDA Banking 64

Scott Mashuda

SEPTEMBER 5, 2023

The transaction is poised to inject substantial capital and resources into TechNH, empowering the company to enhance its already impressive service offerings for existing clientele, while simultaneously bolstering business development initiatives to accelerate expansion. MCM Capital Partners (MCM) is a lower-middle market private equity fund.

Private Equity Firm 52

Private Equity Firm Enterprise Value Banking EBITDA 52

Valutico

AUGUST 23, 2023

In the CCA method, valuation multiples such as P/E ratio, EV/Revenue ratio, and EV/EBITDA ratio, provide benchmarks for estimating value by comparing financial metrics to publicly traded companies. It considers the company’s cost of equity, cost of debt, and capital structure. What is a Private Company Valuation?

Discounted Cash Flow 52

Discounted Cash Flow Comparable Company Analysis EBITDA Enterprise Value 52

Benzinga

FEBRUARY 6, 2024

With access to A-Mark's inventory and resources, we expect that LPM will be able to secure larger purchase orders while providing customers with a broader set of product offerings. million in cash based on achievement of certain Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) targets for 2024, 2025 and 2026.

EBITDA 40

EBITDA Equity Marketability 40

Valutico

AUGUST 10, 2023

In the CCA method, valuation multiples such as P/E ratio, EV/Revenue ratio, and EV/EBITDA ratio, provide benchmarks for estimating value by comparing financial metrics to publicly traded companies. It considers the company’s cost of equity, cost of debt, and capital structure. What is a Private Company Valuation?

Discounted Cash Flow 52

Discounted Cash Flow Comparable Company Analysis EBITDA Enterprise Value 52

Brian DeChesare

AUGUST 10, 2022

Oil & Gas Investment Banking Definition: In oil & gas investment banking, professionals advise companies that search for, produce, store, transport, refine, and market energy on raising debt and equity and completing mergers and acquisitions. Midstream: 85 (mix of asset deals, M&A, debt, and even some private equity activity).

Banking 82

Banking EBITDA Dividends Equity 82

Musings on Markets

JANUARY 28, 2024

In my last data updates for this year, I looked first at how equity markets rebounded in 2023 , driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound.

Risk Premium 93

Risk Premium Beta Start-ups Equity 93

Valutico

OCTOBER 20, 2022

Practitioners assume the business is sold as a multiple of some financial metric like EBITDA, based on what they can see today for other businesses that were sold, and what these comparable trading multiples are. . Ce = Cost of Equity. Rm – Rf) = Equity Market Risk Premium. Cp = Cost of Equity Premium. E = Equity .

Discounted Cash Flow 52

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

Class VI Partner

JULY 28, 2021

Balance Sheet A Balance Sheet is an accounting record for a company that lists a company’s assets, liabilities, and shareholders’ equity. In particular, a Buy-Sell Agreement will typically provide for what happens in the event that one of the shareholders leaves the business and he or she needs to dispose of an equity stake in the business.

Book Value 52

Book Value Equity Enterprise Value Fair Market Value 52

Benzinga

MARCH 2, 2023

Growth Strategy Propelled by a Robust International Sales Effort and Increased Emphasis on Advertising Media: GLAAM aims to bolster its regional sales and marketing resources across Asia, the Middle East, Europe and the Americas.

EBITDA 40

EBITDA Technology Enterprise Value Marketability 40

Benzinga

JUNE 14, 2023

Through the Transaction, Gibson acquires the South Texas Gateway Terminal ("STGT" or the "Terminal") which is positioned as one of the most competitive liquids terminal and export facilities globally with direct pipeline connections to low-cost, long reserve-life resource supply, and very large crude carrier ("VLCC") capabilities.

Dividends 40

Dividends Equity Finance EBITDA 40

Musings on Markets

MARCH 19, 2022

The pie chart below, provides a measure of the gross domestic product of Russia and Ukraine, relative to the rest of the world: While Russia's share of the global economy is small, it does have a significant standing in the natural resource space, as a leading producer and exporter of oil/gas, coal and nickel, among other commodities.

Start-ups 100

Start-ups Risk Premium Equity Market Capitalization 100

Benzinga

AUGUST 19, 2022

Combined entity projected to generate $196 million of annual Revenue and $61 million in annual EBITDA by 2026. based upon 100% equity elections by ADES Investors. Concurrent with the merger, there will be a committed equity placement of $20.0 GREENWOOD VILLAGE, Colo., million of cash proceeds in the merger (at a price of $0.52

EBITDA 40

EBITDA Technology Marketability Equity 40

Equilest

MAY 21, 2024

PitchBook: Specializes in private market data, including M&A, private equity, and venture capital transactions. It’s a great resource for understanding the private equity and venture capital landscapes. EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Marketability 40

Marketability Enterprise Value EBITDA Price to Earnings 40

Musings on Markets

OCTOBER 12, 2023

The effect of impact investing in the inclusionary and exclusionary paths is through the stock price , with the buying (selling) in inclusionary (exclusionary) investing pushing stock prices up (down), which, in turn, decreases (increases) the costs of equity and capital at these firms. in the 1998-2010 time period to 5.95

Market Capitalization 82

Market Capitalization Enterprise Value Start-ups Marketability 82

IBG Business

MAY 31, 2023

Because a strategic purchase may be based on factors other than multiples of earnings or EBITDA, a strategic buyer might be willing to pay more for your business than would a financial buyer, despite the latter’s presumably deeper pockets. Selling to a Private Equity Group. Preparation.

EBITDA 52

EBITDA Marketability Equity Book Value 52

Brian DeChesare

MARCH 8, 2023

Natural resource firms and dedicated trading firms tend to focus on physical trading , while bank trading desks, hedge funds, and CTAs focus on paper trading. The fundamentals do not relate to EBITDA , Free Cash Flow , or valuation multiples but to factors like the weather, human behavior, geopolitics, and supply and demand.

Finance 104

Finance Start-ups Banking Alpha 104

Brian DeChesare

JUNE 1, 2022

Power and Utilities Investment Banking Definition: In power/utilities IB, bankers advise companies that produce, transmit, and distribute electricity, natural gas, and water on raising debt and equity and completing mergers and acquisitions. ” Different banks classify their power & utilities groups differently.

Banking 93

Banking Equity Book Value Capital Structure 93

FE International

APRIL 20, 2022

At the lower end of the market, individuals are still leaving their jobs to buy businesses and at the higher end, institutional investors and private equity firms have more capital available than ever before. multiple of SDE or EBITDA. Aggregators vs. Private Equity Firms. JM Bruneau , an online retailer of furniture, office.

Private Equity Firm 98

Private Equity Firm Equity Start-ups Business Valuation 98

Brian DeChesare

DECEMBER 21, 2022

Does the list vary for private equity and hedge funds ? The list would be nearly the same for private equity, but you might see more variability for hedge funds. Q: How will this new environment affect private equity? A: My prediction is that it will be like what happened to many PE firms after 2008. Plans for Next Year.

Banking 80

Banking Start-ups Finance EBITDA 80

Brian DeChesare

MAY 18, 2022

Use equity or fixed income index futures in these two countries to bet on the one that will be most affected by the interest-rate hikes. Treasuries, short the JPY/NZD, long oil futures, long commercial banking equities, and short copper futures. Other Finance (Private Equity): 3%. vs. Australia. Economics/Strategy/Policy: 25%.

Banking 52

Banking Equity Marketability Finance 52

Musings on Markets

NOVEMBER 10, 2022

It is in pursuit of answering these questions that accountants generate financial statements, and the three most basic are: The balance sheet , which summarizes what a firm owns and owes at a point in time, as well as an estimate of what equity is worth (through accounting eyes).

Finance 74

Finance Start-ups Equity Equity Financing 74

IBG Business

FEBRUARY 25, 2022

While some corporate buyers and private equity firms see the advantages of purchasing smaller businesses, companies with less than $5 million in sales and an EBITDA of less than $1 million may be more dependent on continuing outside financing and lack the critical mass for both buying and selling power. Grow in size. Be “lean and mean.”

Private Equity Firm 40

Private Equity Firm Start-ups Marketability EBITDA 40

Scott Mashuda

DECEMBER 22, 2021

Financial buyers are typically private equity firms or family offices. Financial buyers often prioritize increasing EBITDA and market share over a shorter investment period (usually three to seven years). However, they may not have connections or resources to aid in growth opportunities once the buyout is complete.

Private Equity Firm 52

Private Equity Firm Marketability EBITDA Technology 52

FE International

MARCH 23, 2022

In this post, we leverage our experience and insights from hundreds of our SaaS sales to take a deep dive into valuation and salability, providing the definitive resource on selling a SaaS business. If you want to understand how to value a business, the first question is whether to look at a multiple of SDE , EBITDA or Revenue.

EBITDA 105

EBITDA Start-ups Business Valuation Marketability 105