Posts by: WST Expert 1
Re: toggle formula in cell display
to toggle formulas and values, hit CTRL ~
the ~ (tilda) key is usually next to the 1 on keyboard
to toggle formulas and values, hit CTRL ~
the ~ (tilda) key is usually next to the 1 on keyboard
RE: Deferred Acquisition Costs for Life Insurance Companies
the DAC as its called arises bc life insurers pay commissions upfront to brokers which obviously due to accrual accounting, matching principle must be amortized. Thus GAAP "underwriting income" is higher than Statutory underwriting income. Since for purposes of GAAP "EBITDA" and general ... Read More
the DAC as its called arises bc life insurers pay commissions upfront to brokers which obviously due to accrual accounting, matching principle must be amortized. Thus GAAP "underwriting income" is higher than Statutory underwriting income. Since for purposes of GAAP "EBITDA" and general ... Read More
Re: Cash Circular
Please confirm if our suggestion worked.
Please confirm if our suggestion worked.
RE: Levered vs. unlevered beta for cost of equity
In general we highly discourage the use of FCFE. See our valuation questions on the Ask the WST Expert link. You should always use levered beta to calc cost of equity. When using comps' beta, you first unlever beta then re-lever at target capital structure. Thus its a "normalized" levered industry b... Read More
In general we highly discourage the use of FCFE. See our valuation questions on the Ask the WST Expert link. You should always use levered beta to calc cost of equity. When using comps' beta, you first unlever beta then re-lever at target capital structure. Thus its a "normalized" levered industry b... Read More
RE: Finance 101: Calculator
without a doubt, the HP12C is the best.
although it takes a while to get used to (reverse calculations, etc), this is the most efficient and productive calculator hands down.
without a doubt, the HP12C is the best.
although it takes a while to get used to (reverse calculations, etc), this is the most efficient and productive calculator hands down.
Re: Issues with Center No Merge
The issue you run into is because the formatting of the now unwanted former column cells are still formatted as center no merge (technically center across selection). The solution is to select the cells you don't want and reformat. You have several options: 1) ALT E+A+F => edit, clear, formats; t... Read More
The issue you run into is because the formatting of the now unwanted former column cells are still formatted as center no merge (technically center across selection). The solution is to select the cells you don't want and reformat. You have several options: 1) ALT E+A+F => edit, clear, formats; t... Read More
RE: Diluted Shares Outstanding for Equity Value
Correct. However in the real world its not adjusted. Rather, think of it this way - the current obeservable price already incorporates the effect of options.
Correct. However in the real world its not adjusted. Rather, think of it this way - the current obeservable price already incorporates the effect of options.
Re: Question on Calculating EBITDA for Healthcare companies
Possible answers (guesses) since I'm not healthcar specific: 1) one-time acquisition and as such, its not part of continuing ops 2) IPRD is an expense that the target company has already paid for and as such, is simply an accounting entry but has no impact on cash and thus no economic impact on prof... Read More
Possible answers (guesses) since I'm not healthcar specific: 1) one-time acquisition and as such, its not part of continuing ops 2) IPRD is an expense that the target company has already paid for and as such, is simply an accounting entry but has no impact on cash and thus no economic impact on prof... Read More
RE: TEV and negative net debt clarification
Net debt of negative is fine! Why? Because it means that there's excess cash for shareholders to take out of the company and so equity value is larger than tev a- perfectly fine. Think of msft!
Glad you enjoyed the classes!
Net debt of negative is fine! Why? Because it means that there's excess cash for shareholders to take out of the company and so equity value is larger than tev a- perfectly fine. Think of msft!
Glad you enjoyed the classes!
This is a much longer discussion that cannot be answered in a post. This is covered quite extensively with all the available options and full discussion of pros and cons in our Private Company Valuation Course: http://w... This is a much longer discussion that cannot be answered in a post.
This is covered quite extensively with all the available options and full discussion of pros and cons in our Private Company Valuation Course:
http://www.wstselfstudy.com/privateval.html
feel free to use elearning for 10% off Read More