Posts by: WST Expert 1
RE: SUMIF problem
Many things are wrong with the formula. Do this - in a column all the way to the right, say U, do =month(A7) then copy that down to A21. Then at bottom, do =sumif(U7:U21,3,C7:C21). To avoid using a brand new column, you need SUM+IF array. It's complicated. See Advanced Excel for Data Analysis vi... Read More
Many things are wrong with the formula. Do this - in a column all the way to the right, say U, do =month(A7) then copy that down to A21. Then at bottom, do =sumif(U7:U21,3,C7:C21). To avoid using a brand new column, you need SUM+IF array. It's complicated. See Advanced Excel for Data Analysis vi... Read More
RE: AFM Core Model: pay down down with all excess cash
To set to sweep all cash out, change minimum cash balance to zero on the debt sweep.
To set to sweep all cash out, change minimum cash balance to zero on the debt sweep.
Re: Why use average (industry) beta?
As with trading comps, the idea is to value the target company (WMT in this case) based on your competitors - to see what WMT's implied value based on the market and comps. As such, to use WMT's beta is akin to using WMT's stock price and multiples. Therefore, we want to see "If WMT were valued... Read More
As with trading comps, the idea is to value the target company (WMT in this case) based on your competitors - to see what WMT's implied value based on the market and comps. As such, to use WMT's beta is akin to using WMT's stock price and multiples. Therefore, we want to see "If WMT were valued... Read More
RE: How do I move a row without the mouse?
After copying and going to where u want, u want to "insert copied cells". Thus right click using the right click button on the keyboard (next to alt on the bottom right) and hit "e". This inserts on top of your active cell. You must be on column A or highlight the row else excel says unequal size/sh... Read More
After copying and going to where u want, u want to "insert copied cells". Thus right click using the right click button on the keyboard (next to alt on the bottom right) and hit "e". This inserts on top of your active cell. You must be on column A or highlight the row else excel says unequal size/sh... Read More
RE: Tax rate
Correct. And as you stated, verify that is a good assmption. Clearly, companies in tax havens (i.e. insurance companies) wouldn't use the same 40% assumption.
Correct. And as you stated, verify that is a good assmption. Clearly, companies in tax havens (i.e. insurance companies) wouldn't use the same 40% assumption.
Re: Stock issued: calculated off Equity Value or EV?
Short Answer: New Stock Issued should be based off Transaction Equity Value. Long Answer: The Simple Merger Model was a more rudimentary construction. In the video lecture, we disclaimed that stock issued should indeed be based on Transaction Equity Value (in most cases) and not TEV. The reason is ... Read More
Short Answer: New Stock Issued should be based off Transaction Equity Value. Long Answer: The Simple Merger Model was a more rudimentary construction. In the video lecture, we disclaimed that stock issued should indeed be based on Transaction Equity Value (in most cases) and not TEV. The reason is ... Read More
Re: Inventory Writedown
You'd have to "manually" push the $100 writedown thru to the Inventory balance on the BS. We usually set this up with an extra line item at the bottom of the BS drivers that says Inventory writedown and have the calculated Inventory amount on top then subtract that amount. It truly is easi... Read More
You'd have to "manually" push the $100 writedown thru to the Inventory balance on the BS. We usually set this up with an extra line item at the bottom of the BS drivers that says Inventory writedown and have the calculated Inventory amount on top then subtract that amount. It truly is easi... Read More
RE: How do I group/ungroup cells?
This is a result of "grouping cells" together. Please take a look at our excel shortcuts to group/ungroup (under FREE RESOURCES). Also, our macros use Ctrl+Shift+S to toggle expanding and collapsing to avoid using the mouse!
This is a result of "grouping cells" together. Please take a look at our excel shortcuts to group/ungroup (under FREE RESOURCES). Also, our macros use Ctrl+Shift+S to toggle expanding and collapsing to avoid using the mouse!
RE: AFM Core Model: CPLTDs
You have to make sure that you don't have so much mandatory payment that all your LTD is paid off, which is probably why you got a negative LTD balance. If you are adding a new tranche of debt, treat it like Tranche 2 methodology, and make sure everything still balances.
You have to make sure that you don't have so much mandatory payment that all your LTD is paid off, which is probably why you got a negative LTD balance. If you are adding a new tranche of debt, treat it like Tranche 2 methodology, and make sure everything still balances.
Per valuation , you do start with TEV, and then subtract out Net Debt to get Implied Equity Value. This is because in an M&A transaction, you assume or refi the debt and as such, you are only physically buying the equity. In your example, the $500 of Equity Value is based on your valuation. Plea... Per valuation , you do start with TEV, and then subtract out Net Debt to get Implied Equity Value. This is because in an M&A transaction, you assume or refi the debt and as such, you are only physically buying the equity. In your example, the $500 of Equity Value is based on your valuation. Please refer back to valuation and merger courses. Read More