Musings on Markets
JANUARY 9, 2021
The second was that, starting mid-year in 2020, equity markets and the real economy moved in different directions, with the former rising on the expectations a post-virus future, and the latter languishing, as most of the world continued to operate with significant constraints.
Musings on Markets
OCTOBER 6, 2023
Looking at the top ten companies in 2020 and 2023, you see the dominance of technology companies, many of which sell products that you cannot see, often in production facilities that are just as invisible. That would suggest that intangible assets are being valued and incorporated into balance sheets much more now than in the past.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Musings on Markets
FEBRUARY 27, 2022
To make comparisons, profits are scaled to common metrics, with revenues and book value of investment being the most common scalar. The Value of Growth As investor tastes have shifted from earnings power to growth, there has been a tendency to put growth on a pedestal, and view it as an unalloyed good, but it is not.
Musings on Markets
JANUARY 5, 2024
Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. Working capital needs Thus, I compute pricing multiples based on revenues (EV to Sales, Price to Sales), earnings (PE, PEG), book value (PBV, EV to Invested Capital) or cash flow proxies (EV to EBITDA). Fundamenal Growth in Operating Earnings 3.
Deal Law Wire
FEBRUARY 12, 2021
Thresholds under both statutes decreased slightly, meaning more transactions may be reviewable or notifiable, respectively, than in 2020. Acquisition of all or substantially all of the assets: Total acquisition value, plus assumed liabilities, minus cash and cash equivalents transferred to buyer. Competition Act.
Musings on Markets
JANUARY 31, 2024
Before the sector gets targeted as being excessively profitable, it is also one that is subject to volatility, caused by swings in oil prices; in 2020, the sector was the worst performing on profitability, as oil prices plummeted that year. Does profitability vary across the globe?
Andrew Stolz
JANUARY 12, 2022
Hyundai has fallen from one of the most profitable carmakers to below-average profitability in 2020. Book value is the value attributable to shareholders in case the company sells all its assets and repays its liabilities (also called liquidation value). The liabilities-to-assets ratio stood at 64% in 2020.
Expert insights. Personalized for you.
52 
Let's personalize your content