Musings on Markets

MAY 20, 2022

Historical Data: 1930-2019 To see how this framework works in practice, let's start by looking at the performance of US stocks, across the decades, and look at the returns on stocks, broadly categorized based on market capitalization and price to book ratios.

Price to Book 98

Price to Book Dividends Beta Equity 98

Musings on Markets

OCTOBER 12, 2023

On the alternative energy front, as money has flowed into these companies, there has been a surge in enterprise value (equity and net debt) and market capitalization (equity value); I report both because impact investing can also take the form of green bonds, or debt, at these companies.

Market Capitalization 83

Market Capitalization Enterprise Value Start-ups Marketability 83

Musings on Markets

NOVEMBER 9, 2021

My two most recent valuations were in June 2019 and January 2020, and I am going to go back to them, not just because they are recent, but because they led to investment decisions on my part. In June 2019, Tesla had hit a rough spot, partly due to concerns about production bottlenecks and debt, and partly due to self inflicted wounds.

Start-ups 99

Start-ups Dividends Marketability Market Capitalization 99

Valutico

JANUARY 23, 2023

Struggling with the IPO In late 2019 WeWork announced its intention to go public with a valuation of roughly $50 billion. This initial valuation was confirmed in early 2019 by a funding round led by SoftBank with an investment of $2 billion, resulting in a valuation of $47 billion.

Discounted Cash Flow 52

Discounted Cash Flow Start-ups Market Capitalization Finance 52

Musings on Markets

NOVEMBER 4, 2022

Investors, used to a decade of better-than-expected earnings and rising stock prices at these companies, have been blindsided by unexpected bad news in earnings reports, and have knocked down the market capitalization of these companies by hundreds of billions of dollars in the last few weeks.

Start-ups 100

Start-ups Market Capitalization Marketability Dividends 100

Reynolds Holding

OCTOBER 29, 2023

Before the Chinese and Hong Kong reforms, from 2000 to 2019, 244 Chinese issuers floated on either the NYSE or NASDAQ through the issuance and trading of depository receipts; of these, 98 adopted a DCSS (40.2 As of December 31, 2019, 18 of these DCSS issuers were delisted (18.6 percent), compared with 79 delisted OSOV companies (56.0

Marketability 40

Marketability Market Capitalization Equity 40

Audit Board

MAY 24, 2023

Oulman joins the AuditBoard board of directors after most recently serving as EVP and CFO at Medallia, where she led its successful IPO in 2019. Prior to that, as EVP and CFO of CallidusCloud, she was instrumental in driving the growth of the company’s market capitalization from $350 million to $2.4 in October of 2021.

B2B 52

B2B Finance Market Capitalization Compliance 52

Reynolds Holding

FEBRUARY 26, 2023

The stock market reaction to the findings was brutal and immediate. Within a few days, Adani Enterprises, the top company promoted by billionaire Gautam Adani, lost 50 percent of its market capitalization. [3] and European investment banks, according to financial market data provider Refinitiv.

Banking 111

Banking Marketability Market Capitalization Finance 111

Valutico

JUNE 9, 2023

However, PMI rebounded in 2019, seeing a 29.7% In comparison to PMI market capitalization of USD 140 billion we suggest that the company is fairly valued. rise by February. The stock reached its all-time high of USD 104.66 in February 2022 and closed at USD 91.78 on June 08, 2023.

Discounted Cash Flow 52

Discounted Cash Flow EBIT EBITDA Market Capitalization 52

Valutico

APRIL 24, 2023

Recent M&A deals KHC has been making headlines with strategic moves like acquiring Cerebos Pacific in 2018 and selling off assets such as its Indian nutritional beverage and Canadian natural cheese businesses in 2019. In comparison to Kraft Heinz Company market capitalization of USD 47.4 billion in 2020.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA Net Debt EBIT 52

Valutico

APRIL 24, 2023

Recent M&A deals KHC has been making headlines with strategic moves like acquiring Cerebos Pacific in 2018 and selling off assets such as its Indian nutritional beverage and Canadian natural cheese businesses in 2019. In comparison to Kraft Heinz Company market capitalization of USD 47.4 billion in 2020.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA Net Debt EBIT 52

Valutico

FEBRUARY 1, 2023

Share Price Performance The counter had a very good start to 2019 with a new all time high of $440 per share. In comparison to Boeing’s market capitalization of $127 billion we suggest that the company is fairly valued. For our Trading Comparables we selected similar peers such as Airbus, Lockheed Martin and General Dynamics.

Discounted Cash Flow 52

Discounted Cash Flow EBIT EBITDA Market Capitalization 52

Reynolds Holding

MARCH 16, 2023

This is the conception of corporate purpose articulated in The New Paradigm (issued by the World Economic Forum’s International Business Council in 2016), supported by the Business Roundtable beginning in 2019, and widely accepted by corporate leaders, investors, companies, and practitioners.

Market Capitalization 49

Market Capitalization Marketability 49

Musings on Markets

JUNE 23, 2023

As the semiconductor business has acquired heft, in terms of revenues and profitability, investors have priced those operating results into the market capitalization assigned to these companies. After a long stretch at the top, Intel has dropped back down the list and ranked third, in terms of revenues, in 2022.

Start-ups 94

Start-ups Marketability Market Capitalization Technology 94

Reynolds Holding

APRIL 13, 2023

a publicly traded (NYSE) Brazilian mining company and one of the world’s largest iron ore producers, charging that it made “false and misleading claims about the safety of its dams prior to the January 2019 collapse of its Brumadinho dam. In April of last year, as described in this press release, the SEC filed a complaint against Vale S.A.,

Market Capitalization 45

Market Capitalization Marketability 45

Valutico

MARCH 1, 2023

In 2019, the company announced that it plans to reduce its oil and gas output by 40% by 2030. In comparison to BP’s market capitalization of GBP 101 (USD 122) billion we suggest that the company is slightly undervalued. Furthermore, the company increased dividends by 10% and announced that it will buy back GBP 2.3 (USD

Discounted Cash Flow 52

Discounted Cash Flow Net Debt EBIT Equity 52

Valutico

NOVEMBER 14, 2022

Despite the staggering profits, TotalEnergies has had to deal with a report published by Greenpeace, where the company was accused of having three to four times higher CO 2 emissions than they have stated for 2019. At TotalEnergies’ current market capitalization of €148 billion, our analysis suggests that the company is undervalued.

EBIT 52

EBIT Equity Dividends EBITDA 52

Valutico

NOVEMBER 14, 2022

Despite the staggering profits, TotalEnergies has had to deal with a report published by Greenpeace, where the company was accused of having three to four times higher CO 2 emissions than they have stated for 2019. At TotalEnergies’ current market capitalization of €148 billion, our analysis suggests that the company is undervalued.

EBIT 52

EBIT Equity Dividends EBITDA 52

Musings on Markets

SEPTEMBER 11, 2023

As its subscription base grew, Netflix turned to making original movies, mostly for its own platform, and in 2019, it spent close to $15 billion on original content, rivaling the spending of large movie makers.

Start-ups 76

Start-ups Market Capitalization Marketability Technology 76

Musings on Markets

FEBRUARY 2, 2023

The second is that barring the oil companies, whose revenues and margins ebb and flow with oil prices, the only firm on this list that generates double digit margins is Apple, which has been rewarded with the largest market capitalization of any company in the world. It was the reason that I argued at a $1.2

Start-ups 99

Start-ups Risk-free Rate Market Capitalization Risk Premium 99

Reynolds Holding

MAY 31, 2023

The Federal Reserve’s consent order included an unprecedented “ asset cap ” that prevented Wells Fargo from growing its assets until it satisfied requirements — a punishment market commentators referred to as the “ Fear of God Penalty.” stock drop following the conclusion of the congressional hearings.

Banking 52

Banking Compliance Market Capitalization Marketability 52

Musings on Markets

NOVEMBER 15, 2022

In this post, I want to focus on that point, starting with a discussion of why stories matter to investors and traders and the story that propelled the company to a trillion-dollar market capitalization not that long ago. billion in revenues in 2021.

Start-ups 92

Start-ups Marketability Market Capitalization Technology 92

Musings on Markets

DECEMBER 2, 2020

In the graph to the right, you can see the effects on the financials, in a comparison of first nine months of 2019 to the first nine months of 2020, with gross bookings dropping 39% and operating losses almost tripling over the period. The Market (TAM) There are two ways in which I can describe Airbnb's total addressable market.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52

Reynolds Holding

JANUARY 23, 2024

In 2018 and 2019, Wells Fargo is alleged to have repeatedly told investors that it was implementing and developing the required governance reforms. billion impairment write-down of the value of Kraft and Oscar Mayer in February 2019. in August 2019, wiping out about $36 billion in market capitalization.

Banking 59

Banking Private Equity Firm Alpha Compliance 59

Musings on Markets

NOVEMBER 1, 2023

It was after one of these downturns in 2019, when the stock hit $180 (with a market cap of $32 billion), that I bought Tesla for the first time , albeit labeling it as my corporate teenager, an investment that would frustrate me because it would get in the way of its own potential.

Start-ups 116

Start-ups Marketability Market Capitalization Equity 116

Andrew Stolz

JULY 5, 2021

The companies that constituted the universe were listed on any stock exchange during 2019-2021 and had a market capitalization of at least US$50m as of 29 May 2021. Only 60 companies out of 26,000 (or 0.2%) made it to this final round.

Start-ups 52

Start-ups Finance Market Capitalization Marketability 52

Musings on Markets

OCTOBER 4, 2021

In 2018, it added a Paytm Money , for investment and wealth management, and in 2019, it launched a Paytm for Business app for merchants to track payments. In 2017 it added Paytm Gold , allowing users to buy gold in quantities as little as 1 rupee, and Paytm Payments Bank , a messaging platform with in-Chat payments.

Start-ups 75

Start-ups Banking Marketability Technology 75

Musings on Markets

JANUARY 21, 2023

No matter how you slice it, there is no denying that 2022 was the worst year for US equity investors since 2008, and the magnitude of the damage is even more staggering, if you consider it in market value terms. trillion in market capitalization, but for balance, it is also worth noting that US equities are still holding on to a gain of $6.9

Equity 72

Equity Risk Premium Start-ups Dividends 72

Deal Law Wire

FEBRUARY 12, 2021

This is down slightly from the 2019 transaction size threshold of C$96 million. How enterprise value will be determined will depend on the nature of the transaction: Publicly traded entity (acquisition of shares): Market capitalization plus total liabilities (excluding operating liabilities), minus cash and cash equivalents.

Enterprise Value 40

Enterprise Value Book Value Market Capitalization Marketability 40

Musings on Markets

APRIL 21, 2022

Like Twitter, Snapchat had a rousing debut in the market, rising 40% to hit $24.48 The stock dropped below $6 in 2019, before mounting a comeback in 2021. on its first trading day, before falling on hard times, as Instagram undercut its appeal.

Start-ups 102

Start-ups Marketability Technology Market Capitalization 102

Musings on Markets

FEBRUARY 27, 2022

In 2021, companies recovered entirely from the damage done in 2021, at least in the aggregate, with earnings in 2021 higher than 2019 earnings, by almost 33%. The largest sector, in the US, in terms of market capitalization, is information technology and I have argued that tech companies age in "dog years" , with compressed life cycles.

Start-ups 82

Start-ups Equity Book Value Marketability 82

Reynolds Holding

NOVEMBER 15, 2022

These individuals included senior public company executives, such as Dennis Muilenburg, Boeing’s former CEO , who was charged with making materially misleading public statements about the safety of the company’s 737 MAX planes following crashes in 2018 and 2019, and Ronald D. Compass Minerals International Inc.

Compliance 45

Compliance Marketability Technology Alpha 45

Reynolds Holding

OCTOBER 21, 2024

3] See CBOE “Historical Market Volume Data,” available at [link]. [4] 21, 2010) (“Concept Release on Equity Market Structure”). [6] Family Finances from 2019 to 2022” (October 2023), Page 19, available at [link]. [7] 7] See CompaniesMarketcap.com, “Largest American Companies by Market Capitalization” available at [link]. [8]

Equity 45

Equity Marketability Start-ups Treasury 45

Musings on Markets

JANUARY 5, 2024

Since I am lucky enough to have access to databases that carry data on all publicly traded stocks, I choose all publicly traded companies, with a market price that exceeds zero, as my universe, for computing all statistics. Having toyed with alternative approaches, the one that I find offers the best balance is the aggregated ratio.

Dividends 100

Dividends Risk Premium Equity Book Value 100

Reynolds Holding

JANUARY 9, 2023

The tech-focused coffee chain allegedly touted its meteoric growth in revenues to attract over a billion dollars in investment from both the United States and Asia as part of an Initial Public Offering and a Secondary Public Offering in May 2019 and January 2020, respectively. A brief synopsis of the largest 2022 non-U.S.

Banking 81

Banking Private Equity Firm Marketability Compliance 81

Musings on Markets

OCTOBER 18, 2024

If, by allowing a company or companies to reach a dominant position in the market, you are increasing their competitive advantages against foreign competitors or adding to the aggregate payoff to investing in stocks in markets, should you put those gains at risk by handicapping those companies?

Start-ups 73

Start-ups Market Capitalization Marketability Technology 73

Musings on Markets

JANUARY 19, 2022

Note, though, that 2021 is the third consecutive year of very good returns on the index, with 2019 delivering 31.21%, and 2020 generating 18.02%, and that the cumulative return over the three years (2019-21) is 98.95%. the 2019-21 time period would rank 8th on the list of 92 3-year time periods.

Risk Premium 82

Risk Premium Risk-free Rate Start-ups Equity 82