Posts by: WST Expert 1
Re: Oil and Gas Valuation
Rarjoon, Oil & gas companies typically use a Net Asset Value (NAV) calculation to derive the value of all their reserves. As you mentioned, reserves are typically categorized as 1P, 2P, or 3P, representing roughly 90%, 50%, and 10% recovery probabilities, respectively. However, a number of geol... Read More
Rarjoon, Oil & gas companies typically use a Net Asset Value (NAV) calculation to derive the value of all their reserves. As you mentioned, reserves are typically categorized as 1P, 2P, or 3P, representing roughly 90%, 50%, and 10% recovery probabilities, respectively. However, a number of geol... Read More
RE: Fixing #VALUE errors in my model
You have an incorrect circular reference. When you switch the case back to 1 for beginning balance everything is fine because there are no circs. You'd have to painstakingly troubleshoot your model: turn off circs thru tools options calculation and uncheck iterations. Keep model on 1 and see if ... Read More
You have an incorrect circular reference. When you switch the case back to 1 for beginning balance everything is fine because there are no circs. You'd have to painstakingly troubleshoot your model: turn off circs thru tools options calculation and uncheck iterations. Keep model on 1 and see if ... Read More
RE: Tax expense for terminal year
Yes, you should because the NOL will run out. Please see our other posts in this forum for different ways to treat NOL value in DCF analysis.
Yes, you should because the NOL will run out. Please see our other posts in this forum for different ways to treat NOL value in DCF analysis.
Re: Technology Sector Valuation
Thanks for your inquiry - can you elaborate on which areas of technology you are interested in? most of the techniques for financial modeling and valuation apply to technology as well (unlike banks, insurance, real estate, etc).
Thanks for your inquiry - can you elaborate on which areas of technology you are interested in? most of the techniques for financial modeling and valuation apply to technology as well (unlike banks, insurance, real estate, etc).
Re: CLOSING aDJUSTMENT
If you don't have a term sheet, letter of intent or purchase price agreement (even if all in draft format), then nothing you can do about it. Go update your valuation reflecting the new balance sheet amounts and above all, don't mess up the TEV vs Equity Value on the capital structure - you can lose... Read More
If you don't have a term sheet, letter of intent or purchase price agreement (even if all in draft format), then nothing you can do about it. Go update your valuation reflecting the new balance sheet amounts and above all, don't mess up the TEV vs Equity Value on the capital structure - you can lose... Read More
Re: D&A is different on the I/S and CF, which to use ??
[quote="jleonard20":3p03beyg]does your excel macros clash with bloomberg? i'm working with bloomberg excel data and control-shift D, zooms in, rather than giving me a dollar format.[/quote:3p03beyg] There may very likely be a conflict between the two add-ins. We recommend disabling the k... Read More
[quote="jleonard20":3p03beyg]does your excel macros clash with bloomberg? i'm working with bloomberg excel data and control-shift D, zooms in, rather than giving me a dollar format.[/quote:3p03beyg] There may very likely be a conflict between the two add-ins. We recommend disabling the k... Read More
RE: Debt and Capex
Good observation. Our videos point out that in reality, WMT would be refinancing their mandatory debt repayments as well as issuing new long term debt instead of the revolver. Thus we made (or should have made) a point that perhaps for presentation purposes the revolver should be actually considered... Read More
Good observation. Our videos point out that in reality, WMT would be refinancing their mandatory debt repayments as well as issuing new long term debt instead of the revolver. Thus we made (or should have made) a point that perhaps for presentation purposes the revolver should be actually considered... Read More
RE: Advanced Valuation Modeling: Share repurchase
The shares do not get destroyed, but rather put aside by the treasury department and is called "Treasury Shares" in the Shareholders' Equity line on the Balance Sheet. The shares are not usually retired since they want the flexibility to re-issue the shares in the future without needing additional a... Read More
The shares do not get destroyed, but rather put aside by the treasury department and is called "Treasury Shares" in the Shareholders' Equity line on the Balance Sheet. The shares are not usually retired since they want the flexibility to re-issue the shares in the future without needing additional a... Read More
RE: How do you define Interest Coverage Ratio?
Per our Accounting module, interest coverage is generally know as EBITDA/Interest. EBIT/Interest is usually know as TIE-times interest earned. Logic for EBITDA- ability to pay interest with company's "cash flow" Logic for EBIT-ability to pay out of profits since D&A is a legitimate ex... Read More
Per our Accounting module, interest coverage is generally know as EBITDA/Interest. EBIT/Interest is usually know as TIE-times interest earned. Logic for EBITDA- ability to pay interest with company's "cash flow" Logic for EBIT-ability to pay out of profits since D&A is a legitimate ex... Read More
The short way is to select all of the tabs in 2009 and edit => move and select the 2008 file in "move to" and select the end or wherever to insert. You must have both files open first.
We'd recommend a full merge though - put 2009 in the columns after 2009.