Chris Mercer

MARCH 7, 2024

The second and third musings address the issue of marketability discounts and conclude that it is not possible to comply with any valuation standards, whether USPAP or not, using only averages of restricted stock studies as a basis for “guessing” marketability discounts. The relevant pool of potential buyers, if any.

Dividends 52

Dividends Appraisal Terminal Value Marketability 52

Chris Mercer

NOVEMBER 15, 2022

Atticus Frank will present tomorrow and talk about why market multiples differ between and among industries. It is essential to normalize the earnings of operating companies when providing appraisals either at the financial control/marketable minority level or the nonmarketable minority level. These sessions are always lots of fun.

Business Valuation 52

Business Valuation Normalized Earnings EBITDA Appraisal 52

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.

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Valutico

SEPTEMBER 13, 2023

Valuing a Small and Medium-sized Enterprise (SME) involves assessing the company’s financial performance, assets, market position, and growth potential. Discounted Cash Flow analysis), Market Approach (e.g. net asset value calculation). The three main methods for SME valuation are the Income Approach (e.g.

Discounted Cash Flow 52

Discounted Cash Flow Comparable Company Analysis Asset-based Approach Intangible Assets 52

BV Specialists

JANUARY 3, 2022

Business owners likely have particular ideas about the value of their company and how best to calculate it, given their experience and knowledge of their financial history, and understanding of the market and industry in which they operate. Market Approach. >The Asset Approach.

Appraisal 52

Appraisal Liquidation Value Net Present Value Intangible Assets 52

Valutico

AUGUST 10, 2023

As we proceed, we’ll simplify the complex SME valuation process, factoring in unique SME attributes such as inconsistent cash flows, reliance on a restricted client base, and constrained access to capital, which heavily influence their value. How to value an SME? What are the Key Valuation Methods Used for SMEs?

Discounted Cash Flow 52

Discounted Cash Flow Asset-based Approach Intangible Assets Business Valuation 52

Equilest

OCTOBER 22, 2023

The accuracy of these projections can be influenced by external factors and market conditions, making them inherently uncertain. Any inaccuracies in the inputs, such as revenue forecasts, discount rates, or terminal values, can lead to misleading valuations.

Discounted Cash Flow 40

Discounted Cash Flow Business Valuation Precedent Transaction Analysis Finance 40

Equidam

FEBRUARY 16, 2024

These are applied to compute the Terminal value in the DCF method with Multiple and the potential exit value in the VC method. 21.44 ↑ 2.14% Advertising & Marketing 10.55 34.85 ↑ 178.58% Financial & Commodity Market Operators & Service Providers 153.4 6.38 ↓ -29.42% Food Markets 9.04

EBITDA 57

EBITDA Terminal Value Banking Marketability 57

Andrew Stolz

MAY 22, 2020

Invested Capital Growth (ICG), as defined by The Economic Times, is “the appreciation in the value of an asset over a period of time.” It is calculated by comparing the current value of a stock, sometimes known as the market value of an asset or investment, to the amount paid when you originally bought it.

Terminal Value 52

Terminal Value Dividends Marketability Equity 52

Brian DeChesare

SEPTEMBER 20, 2023

No Right or Wrong Answers – Some technical questions have correct answers, but many market and investment ones do not. Market and Investment Questions – Which startup would you invest in? Which market is attractive? Which markets should we avoid? Q: Tell me about the current IPO, M&A, and VC funding markets.

Start-ups 59

Start-ups Equity Marketability Terminal Value 59

Chris Mercer

AUGUST 1, 2022

Were also bigger and had higher market capitalizations and better operating performance, on average. Market Pricing and Restricted Stock Discounts. The next figure examines the offer amounts, size of the transactions, and market pricing of the dividend-paying restricted stock issuers. We make observations from the second figure.

Dividends 52

Dividends Appraisal Marketability Start-ups 52

Valutico

SEPTEMBER 19, 2022

One critical component of the terminal value is the perpetual growth rate. the value of all its shares added up). The perpetual growth rate is an assumption of the annual growth rate until the end of time. . inflation). For the UK, for example, the long-term inflation target is 2% whereas for South Africa it is 5%.

Business Valuation 78

Business Valuation EBITDA EBIT Discounted Cash Flow 78

Equidam

FEBRUARY 8, 2023

These are applied to compute the Terminal value in the DCF method with Multiple and the potential exit value in the VC method. 20.99 ↓ -43% Advertising & Marketing 12.74 12.51 ↓ -32% Financial & Commodity Market Operators & Service † 30.92 ↔ 0% Food Markets 9.05 ↔ 0% Food Markets 9.05

EBITDA 40

EBITDA Terminal Value Banking Marketability 40

Valutico

OCTOBER 20, 2022

But here, we use what interest we could get from an alternative investment in the market, called the Market Rate. Discount Factor (using Market Rate: r=10%). But first, a quick aside, which you can feel free to skip if you want to jump ahead: Why Do We Use the Market Rate to Calculate the Discount Factor? You get: Year.

Discounted Cash Flow 52

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

Equidam

NOVEMBER 22, 2021

On the one hand, the market’s excess liquidity might be a factor. These are applied to compute the Terminal value in the DCF method with Multiple and the potential exit value in the VC method. Advertising & Marketing. Financial & Commodity Market Operators & Service. 5%. Food Markets.

EBITDA 52

EBITDA Banking Marketability Terminal 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. Also, there are few “independent” Downstream companies in major markets like the U.S.,

Banking 82

Banking EBITDA Dividends Equity 82

Equilest

AUGUST 6, 2023

Key Concepts to Know: Before diving into the valuation techniques, it's important to understand concepts like the time value of money, risk and return trade-off, and the significance of growth rates. Various Approaches to Valuation: Valuation can be approached through three main methods - market-based, asset-based, and income-based valuation.

Discounted Cash Flow 40

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

Musings on Markets

FEBRUARY 2, 2023

The second is that barring the oil companies, whose revenues and margins ebb and flow with oil prices, the only firm on this list that generates double digit margins is Apple, which has been rewarded with the largest market capitalization of any company in the world. It was the reason that I argued at a $1.2

Start-ups 99

Start-ups Risk-free Rate Market Capitalization Marketability 99

Brian DeChesare

APRIL 19, 2023

The sources of growth also matter; emerging markets’ infrastructure spending drove up metal consumption for a long time, but now there’s a rising demand in developed markets due to EVs and renewable energy. As a result, they operate in more of a global market, with fewer regional disparities. and Industrias Peñoles (Mexico).

Banking 52

Banking Start-ups Private Equity Firm Equity 52