Andrew Stolz

JANUARY 12, 2022

They have 90% market share of in FCEV. This gives it a market share of 5%, compared to Tesla’s 14.6%. Book value is the value attributable to shareholders in case the company sells all its assets and repays its liabilities (also called liquidation value). Analysts are more positive about Hyundai than the market.

EBIT 52

EBIT Price to Book Book Value Liquidation Value 52

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. Are US companies more levered than they were a decade ago?

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

JANUARY 6, 2023

Counter made-up numbers : It remains true that people (analysts, market experts, politicians) often make assertions based upon either incomplete or flawed data, or no data at all. For instance, is it true, as some assert, that inflation was high last year because companies raised prices to increase profits? Price to Book 3.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Musings on Markets

MAY 24, 2021

As we approach the mid point of 2021, financial markets, for the most part, have had a good year so far. With other items, where prices can be volatile over short period, like gasoline, services often measure inflation with and without these items to reduce the effect of volatility.

Treasury 55

Treasury Start-ups Risk Premium Price to Book 55

Equilest

AUGUST 6, 2023

Various Approaches to Valuation: Valuation can be approached through three main methods - market-based, asset-based, and income-based valuation. Key Financial Ratios: Ratios such as Price-Earnings Ratio (P/E), Price-to-Book Ratio (P/B), and Debt-to-Equity Ratio provide valuable insights into the company's performance and market position.

Discounted Cash Flow 40

Discounted Cash Flow Business Valuation Precedent Transaction Analysis Comparable Company Analysis 40

Equilest

NOVEMBER 25, 2023

These examples cover a range of topics, including discounted cash flow (DCF) analysis, comparable company analysis (CCA), and market multiples. Continuous Learning in Valuation Given the dynamic nature of financial markets, continuous learning is essential for professionals in valuation. Examples of Industry-Specific Multiples?

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Reynolds Holding

NOVEMBER 8, 2023

The post provides a comparative analysis of the five regions through the lens of box plots, examining ESG Performance scores, Market Value Added (MVA) Spread, and Future Growth Reliance (FGR). The Market Value Added (MVA) Spread from the ISS EVA framework serves to assess company valuation.

Enterprise Value 52

Enterprise Value Price to Book Marketability Book Value 52

Musings on Markets

MARCH 19, 2022

As the world's attention is focused on the war in the Ukraine, it is the human toll, in death and injury, that should get our immediate attention, and you may find a focus on economics and markets to be callous. The increase in default spreads was not restricted to foreign markets, as fear also pushed up spreads in the corporate bond market.

Start-ups 100

Start-ups Risk Premium Equity Market Capitalization 100

Musings on Markets

JANUARY 19, 2022

In this post, I will begin with a historical assessment of stock returns in the recent past, then move on to evaluate the returns that investors can expect to make, given how they are priced at the start of 2022, and end with a do-it-yourself valuation of the index right now. The year that was.

Risk Premium 99

Risk Premium Risk-free Rate Start-ups Equity 99

Musings on Markets

MARCH 25, 2021

The first quarter of 2021 has been, for the most part, a good time for equity markets, but there have been surprises. The Interest Rates Story To me the biggest story of markets in 2021 has been the rise of interest rates, especially at the long end of the maturity spectrum.

Equity 52

Equity Risk-free Rate Treasury Start-ups 52

Musings on Markets

DECEMBER 10, 2023

Key Person(s): Pricing effects It is true that markets are pricing mechanisms, not instruments for reflecting value, at least in the short term, and it should come as no surprise then that the effects of a key person are captured in pricing premiums or discounts, sometime arbitrary, and sometimes based upon data.

Key Person Discount 130

Key Person Discount Start-ups Price to Book Marketability 130

Musings on Markets

APRIL 20, 2025

When markets are in free fall, there is a great deal of advice that is meted out to investors, and one is to just buy the dip , i.e., buy beaten down stocks, in the hope that they will recover, or the entire market, if it is down. The evidence for this strategy comes from many sources.

Start-ups 136

Start-ups Price to Book Marketability Equity 136

Musings on Markets

FEBRUARY 4, 2023

The History The Adani Group, founded by Gautam Adani, started life as a commodity trading partnership business in Gujarat, and listed on stock markets in 1994, as Adani Exports, with a large chunk of its revenues coming from its operation of a local port in Mundra, with a subsequent entry into the edible oil business.

Start-ups 100

Start-ups Market Capitalization Marketability Equity 100

Musings on Markets

JANUARY 26, 2025

In my first two data posts for 2025, I looked at the strong year that US equities had in 2024, but a very good year for the overall market does not always translate into equivalent returns across segments of the market. trillion in market cap just in 2024 , and that over the last five (ten) years, the sector has added $11.3

Price to Book 78

Price to Book Start-ups Book Value Marketability 78