Posts by: WST Expert 1
Re: Trump's Tax Law - Interest Expense deduction limit?
The new law states that companies with annual gross receipts of at least $25 million now face a ceiling for their interest expense deductible: 30% of EBITDA. For highly leveraged companies who both (a) pay "a lot" in interest payments, and (b) earn "a lot", this could mean a higher tax bill (and thu... Read More
The new law states that companies with annual gross receipts of at least $25 million now face a ceiling for their interest expense deductible: 30% of EBITDA. For highly leveraged companies who both (a) pay "a lot" in interest payments, and (b) earn "a lot", this could mean a higher tax bill (and thu... Read More
Trump's Tax Law - Interest Expense deduction limit?
How does one account for the updated Interest Expense deduction limit in financial models?
How does one account for the updated Interest Expense deduction limit in financial models?
Re: New Student Question
Of course! We are here to help with any questions you may have.
Of course! We are here to help with any questions you may have.
Re: % Change
After converting daily data to monthly/yearly data (i.e. the price for July is defined as the price on July 31), you can just do a traditional percent change:
=A1/B1-1
(where A1 is the new value and B1 is the old value)
After converting daily data to monthly/yearly data (i.e. the price for July is defined as the price on July 31), you can just do a traditional percent change:
=A1/B1-1
(where A1 is the new value and B1 is the old value)
Re: Data Manipualtion
Hi Jay, If I'm understanding your question correctly, it might be best to just re-download the data on a monthly basis. Otherwise, you could use a Pivot Table and group everything by each month's average. A further dynamic solution would be to create a list of dates, and then use =AVERAGEI... Read More
Hi Jay, If I'm understanding your question correctly, it might be best to just re-download the data on a monthly basis. Otherwise, you could use a Pivot Table and group everything by each month's average. A further dynamic solution would be to create a list of dates, and then use =AVERAGEI... Read More
Re: Restricted Stock, etc.
Any of those items that are VESTED should be included. Just make sure not to double count.
Any of those items that are VESTED should be included. Just make sure not to double count.
Re: Comps when valuing a company for M&A
A trading comps analysis is typically always from the perspective of a going concern and not a take private. As such, we would recommend to always use options exercisable and not options outstanding for spreading comps. The same applies for DCF - even though you know that the very reason you're doin... Read More
A trading comps analysis is typically always from the perspective of a going concern and not a take private. As such, we would recommend to always use options exercisable and not options outstanding for spreading comps. The same applies for DCF - even though you know that the very reason you're doin... Read More
Re: shortcuts
Hi Olivia, That represents the older formatting practices on previous versions of the WST Macros add-in. In recent years we've updated it to reflect more modern preferences. If you're submitting a pre-work assignment, you won't be penalized for having your formatting different from the one in ... Read More
Hi Olivia, That represents the older formatting practices on previous versions of the WST Macros add-in. In recent years we've updated it to reflect more modern preferences. If you're submitting a pre-work assignment, you won't be penalized for having your formatting different from the one in ... Read More
Re: Formatting Using the ctrl + shift + D
That represents the older formatting practices on previous versions of the WST Macros add-in. In recent years we've updated it to reflect more modern preferences. If you're submitting a pre-work assignment, you won't be penalized for having your formatting different from the one in the videos, as... Read More
That represents the older formatting practices on previous versions of the WST Macros add-in. In recent years we've updated it to reflect more modern preferences. If you're submitting a pre-work assignment, you won't be penalized for having your formatting different from the one in the videos, as... Read More
Hello there, not a silly question at all! If you have latest financials, in this case through 2018 Q3, we would highly recommend doing a stub period, that is the one remaining quarter of 2018 + four (or five) more full projection years. Then we should definitely use net debt and capitalization fi... Hello there, not a silly question at all!
If you have latest financials, in this case through 2018 Q3, we would highly recommend doing a stub period, that is the one remaining quarter of 2018 + four (or five) more full projection years. Then we should definitely use net debt and capitalization figures as of 2018 Q3 and your DCF would be NPV as of end of 2018 Q3.
If you wanted to keep the 5 years through end of 2017, then you would without a doubt KEEP your net debt and capitalization figures as of end of 2017 to match time periods correctly.
Our Free Resources section of our website has a template for stub year DCF discounting: http://wallst.training/about/resources.html Read More