Posts by: Guest 1
LBO - Quick & Dirty - for a early stage investment
I was hoping to clarify the use of the LBO model for a project. My inputs into the model would be as followed: 1. Transaction Enterprise value would be the the Max Debt (Ending Balance under the debt sweep) of the project, which in our case occurs in year 2 2. New Equity is a plug, and up to us to ... Read More
I was hoping to clarify the use of the LBO model for a project. My inputs into the model would be as followed: 1. Transaction Enterprise value would be the the Max Debt (Ending Balance under the debt sweep) of the project, which in our case occurs in year 2 2. New Equity is a plug, and up to us to ... Read More
Macro error: compile error in hidden module: thiswork
Hello, I am using Excel 2011 for Mac, when I tried to to install the WST macro from tool -> add-in menu, an error shows up: "Compile error in hidden module: thisworkbook" And the WST did not show up after the error prompted. Please advise how I can fix this, thanks. Note: I download... Read More
Hello, I am using Excel 2011 for Mac, when I tried to to install the WST macro from tool -> add-in menu, an error shows up: "Compile error in hidden module: thisworkbook" And the WST did not show up after the error prompted. Please advise how I can fix this, thanks. Note: I download... Read More
Reference Range (Corporate Valuation)
Hi,
In the Reference Range sheet, how are the reference ranges be calculated? However, I understand how I can calculate each implied enterprise value, implied equity value and implied price per share.
Hi,
In the Reference Range sheet, how are the reference ranges be calculated? However, I understand how I can calculate each implied enterprise value, implied equity value and implied price per share.
Re: Macro error: compile error in hidden module: thiswork
Unfortunately I am not in the area... I played around with it and this what I was able to achieve: 1. Run WST add-in, the error message came up 2. Option + F11, choose run -> run macro 3. Select WST_CreateMenu, the WST showed up 4. Do the above again, select WSTShortCutKeyActivate, the shortcu... Read More
Unfortunately I am not in the area... I played around with it and this what I was able to achieve: 1. Run WST add-in, the error message came up 2. Option + F11, choose run -> run macro 3. Select WST_CreateMenu, the WST showed up 4. Do the above again, select WSTShortCutKeyActivate, the shortcu... Read More
Re: Enterprise Value
How to calculate the Enterprise Value?
How to calculate the Enterprise Value?
D&A is different on the I/S and CF, which to use ??
When the D&A figure is different from the I/S to CF statements, which one should I use on the income statement when modeling forward and what is the reason for the D&A figures being different?
When the D&A figure is different from the I/S to CF statements, which one should I use on the income statement when modeling forward and what is the reason for the D&A figures being different?
RE: DCF EBITDA multiple approach
Okay. Since we calculate the EV by multiplying EBITDA multiple with the last projected year EBITDA, then, why on the "Simple Company Valuation" worksheet, you added the NPV of unlevered free cash flow to the discounted EV? Would not that over value the company?
Okay. Since we calculate the EV by multiplying EBITDA multiple with the last projected year EBITDA, then, why on the "Simple Company Valuation" worksheet, you added the NPV of unlevered free cash flow to the discounted EV? Would not that over value the company?
Re: LBO - Quick & Dirty - for a early stage investment
Thank you for your reply. 1. In response to point 1) - I did not think I should give any equity value to the project, but perhaps I should, given the work the company gone through to get it off the ground. The logic for TEV would be, since we have no EBITDA, or a business yet, would be (project fo... Read More
Thank you for your reply. 1. In response to point 1) - I did not think I should give any equity value to the project, but perhaps I should, given the work the company gone through to get it off the ground. The logic for TEV would be, since we have no EBITDA, or a business yet, would be (project fo... Read More
Re: Reference Range (Corporate Valuation)
Thank you. That means we do not calculate the reference ranges. Do we estimate the reference ranges based on the implied enterprise values, implied equity values and implied price per share plus other factors of the company? In the football field, do we estimate the reference range as well? I notice... Read More
Thank you. That means we do not calculate the reference ranges. Do we estimate the reference ranges based on the implied enterprise values, implied equity values and implied price per share plus other factors of the company? In the football field, do we estimate the reference range as well? I notice... Read More
Hope you’re well. got a technical question for you: re the DCF: should the terminal value as per perpetuity growth rate method be discounted back at the same time period as the terminal multiple approach? Ie, doesn’t FCF * (1+g) / (r-g) = present value of terminal value, as of 1 year after the ... Hope you’re well. got a technical question for you: re the DCF: should the terminal value as per perpetuity growth rate method be discounted back at the same time period as the terminal multiple approach?
Ie, doesn’t FCF * (1+g) / (r-g) = present value of terminal value, as of 1 year after the terminal period.
So, if you’ve got a 5 yr dcf, and you’re using midyear convention and a 12/31/08 valuation date:
Year 1 period = .5
Year 2 = 1.5
Year 3 = 2.5
Year 4 = 3.5
Year 5 = 4.5
Terminal value = 5.0
Wouldn’t the perpetuity growth rate formula deliver value as of period 5.5, rather than as of 5.0? Read More