Posts by: WST Expert 1
RE: TEV and negative net debt clarification
What would the if statement say? You still reduce tev by the negative net debt. You don't suddenly exclude it.
What would the if statement say? You still reduce tev by the negative net debt. You don't suddenly exclude it.
Re: LTM / Quarterly Financials
yes, our Private Company Pro Forma Modeling course explains how to incorporate stub quarters for LTM calculations. It does focus also on private company adjustments that are in addition to normal adjustments for public companies, but includes the LTM portion you are looking for. Read More
yes, our Private Company Pro Forma Modeling course explains how to incorporate stub quarters for LTM calculations. It does focus also on private company adjustments that are in addition to normal adjustments for public companies, but includes the LTM portion you are looking for. Read More
RE: Levered vs. unlevered beta for cost of equity
*maybe* depends on what you are trying to do - value a company? Or what?
*maybe* depends on what you are trying to do - value a company? Or what?
Re: Cost of Debt Sources
reuters? thomson one? factset? cap iq? ANY data vendor!
reuters? thomson one? factset? cap iq? ANY data vendor!
Re: WACC : Historical Beta Values
We apologize for having to give a weak response this time - however, this specific issue is addressed in our Private Company Valuation course... http://www.wstselfstudy.com/privateval.html it would take t... Read More
We apologize for having to give a weak response this time - however, this specific issue is addressed in our Private Company Valuation course... http://www.wstselfstudy.com/privateval.html it would take t... Read More
Re: Undistributed Earnings Allocated to Participating Securities
We need a bit more context. Please copy and paste the footnote that explains participating securities from that company's latest 10K filing. That could be due to Minority Interest, but that would be called "Less consolidated net income attributable to noncontrolling interest", so we don't... Read More
We need a bit more context. Please copy and paste the footnote that explains participating securities from that company's latest 10K filing. That could be due to Minority Interest, but that would be called "Less consolidated net income attributable to noncontrolling interest", so we don't... Read More
Re: Capitalizing vs Expensing Interest
Yes, correct. Taxes paid are always based on revenues and expenses recognized by the IRS. Deferred taxes will reconcile the difference between the tax treatment and the accounting treatment. Since some companies elect to be a cash basis taxpayer and others accrual basis taxpayers, it is not possi... Read More
Yes, correct. Taxes paid are always based on revenues and expenses recognized by the IRS. Deferred taxes will reconcile the difference between the tax treatment and the accounting treatment. Since some companies elect to be a cash basis taxpayer and others accrual basis taxpayers, it is not possi... Read More
RE: Negative Free Cash Flow in DCF
Pls search our previous posts on how to account for NOLs in DCF. Pls note that DCF is fairly irrelevant for early stage companies, or non-mature companies in general. Search our topic forums here for more information on that as well.
Pls search our previous posts on how to account for NOLs in DCF. Pls note that DCF is fairly irrelevant for early stage companies, or non-mature companies in general. Search our topic forums here for more information on that as well.
Re: Sum + If Array
From our Advanced Excel for Data Analysis class, recall that the "third" approach was using IF statements. Since we can easily demonstrate that everything is a mathematical calculation using multiplication and =, then in reality, for the multiple conditions, you don't need the IF statement... Read More
From our Advanced Excel for Data Analysis class, recall that the "third" approach was using IF statements. Since we can easily demonstrate that everything is a mathematical calculation using multiplication and =, then in reality, for the multiple conditions, you don't need the IF statement... Read More
The best course would be our Advanced LBO Modeling that contains numerous tranches of debt and is specifically built to handle capital structure changes. Our Distressed model is focused on fulcrum securities and as such, focused on recoveries. The first part of our distressed model does incorporate... The best course would be our Advanced LBO Modeling that contains numerous tranches of debt and is specifically built to handle capital structure changes.
Our Distressed model is focused on fulcrum securities and as such, focused on recoveries.
The first part of our distressed model does incorporate cash flows and cost savings sensitivities into the model that then calculate cash flows for the recoveries.
Thus, a combination of the two should hit all your goals. But the LBO model sounds more relevant for what you want. The LBO model doesn't always have to be taking companies private. Our Complex LBO model course allows for recapitalizations.
Advanced LBO course: http://www.wstselfstudy.com/package6.html
Complex LBO course: http://www.wstselfstudy.com/supercompma.html
Distressed Modeling: http://www.wstselfstudy.com/distressmodel.html Read More