Posts by: WST Expert 1
RE: Trading Comps overview class
As stated in our video courses, adjust when you feel it is one-time, non-recurring. This is the SUBJECTIVE part of valuation! See our previous response to your JCP inputs post.
As stated in our video courses, adjust when you feel it is one-time, non-recurring. This is the SUBJECTIVE part of valuation! See our previous response to your JCP inputs post.
Re: Automatically Importing Formatted Data
this is covered in our Advanced Excel for Data Analysis class. First module in fact!
use this function:
=datevalue( )
that will convert to dates. then copy paste as value, reformat using WST macros to proper date formatting. you all set.
this is covered in our Advanced Excel for Data Analysis class. First module in fact!
use this function:
=datevalue( )
that will convert to dates. then copy paste as value, reformat using WST macros to proper date formatting. you all set.
RE: How to set up Sources & Uses for <100% LBO?
Yes and no. If less than 100% (assuming greater than 50&) then sources and uses should match true in and outflow of $$ by "grossing it up" the way you described, you are effectively creating a "fake" transaction. You are not technically incorrect (hence the "yes") but we wouldn't consider that a... Read More
Yes and no. If less than 100% (assuming greater than 50&) then sources and uses should match true in and outflow of $$ by "grossing it up" the way you described, you are effectively creating a "fake" transaction. You are not technically incorrect (hence the "yes") but we wouldn't consider that a... Read More
RE: Interest expense on Converts
Good point. However, since our Comps input model requires separate inputs, the Net Income and EPS don't flow through. We are independently calculating Equity Value and Enterprise Value (TEV) and since TEV doesn't involve Net Income, no adjustment required. We don't calculate Equity Value / Net Incom... Read More
Good point. However, since our Comps input model requires separate inputs, the Net Income and EPS don't flow through. We are independently calculating Equity Value and Enterprise Value (TEV) and since TEV doesn't involve Net Income, no adjustment required. We don't calculate Equity Value / Net Incom... Read More
Re: Excel's Automatic Filters
per your other similar post, use DATEVALUE function to convert to dates!
per your other similar post, use DATEVALUE function to convert to dates!
Re: Accounting Bootcamp- Short term debt CFO or CFF
No worries! We are here for you!
No worries! We are here for you!
RE: How to calculate / estimate transaction costs for an LBO?
Debt financing fees range anywhere between 25bps/50bps for revolver facilities to as high as 1-2% for more junior debt. The amt of financing fees would be dependent on the specific tranches of debt raised. Likewise, tender costs for existing debt that is refinanced would vary based on the PV of futu... Read More
Debt financing fees range anywhere between 25bps/50bps for revolver facilities to as high as 1-2% for more junior debt. The amt of financing fees would be dependent on the specific tranches of debt raised. Likewise, tender costs for existing debt that is refinanced would vary based on the PV of futu... Read More
RE: Corporate Valuation: DCF valuation
Per our videos in Corporate Valuation, DCF is merely a starting point to intelligently and methodically substantiate "intrinsic value" but by no means is an "end-all, is-all". The folks on the buy-side (i.e. hedge funds) don't even look at DCF since it is "timeless" - you are never wrong, since you ... Read More
Per our videos in Corporate Valuation, DCF is merely a starting point to intelligently and methodically substantiate "intrinsic value" but by no means is an "end-all, is-all". The folks on the buy-side (i.e. hedge funds) don't even look at DCF since it is "timeless" - you are never wrong, since you ... Read More
RE: Accounting changes
First of all, Changes in Accounting Principles that are below Net Income or Income from Continuing Operations never get touched. Second, again, use judgement - will this occur again in the future? For instance, don't make adjustments for SBC - Stock Based Compensation b/c that is a new pronouncem... Read More
First of all, Changes in Accounting Principles that are below Net Income or Income from Continuing Operations never get touched. Second, again, use judgement - will this occur again in the future? For instance, don't make adjustments for SBC - Stock Based Compensation b/c that is a new pronouncem... Read More
The idea is that as the implied stock price increases, each option is also worth more and so the number of implied options also increases. Since the implied equity value and stock price is never the same in the sensitivity analysis, that explains the different diluted options outstanding.