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 112

Market Capitalization Enterprise Value Start-ups Marketability 112

Andrew Stolz

JANUARY 28, 2022

Idemitsu Kosan’s revenue breakdown 2020. Its net-debt to equity ratio stood at 0.9x Ramp-up of CAPEX necessary to ensure longevity. Attractive dividend yield could rise to 2x Japanese average. Download the full report as a PDF. Price and volume remain bullish. The share price is up 33% YTD. Balance sheet – Idemitsu Kosan.

Dividends 52

Dividends Risk-free Rate Net Debt Equity 52

Andrew Stolz

FEBRUARY 7, 2022

Radiant Opto-Electronics Corporation’s revenue breakdown 2020. The company has almost no long-term debt, thought is does have short term debt, leading to a negative net debt-to-equity ratio of 0.7x. Lack of investments translate into zero revenue growth. Download the full report as a PDF.

Dividends 52

Dividends Net Debt EBIT Marketability 52

Erik A. Lopez

SEPTEMBER 23, 2015

Hexion focused its arguments on Huntsman’s repeated failure to achieve its forecasts as well as an increase in Huntsman’s net debt as compared to its projected decrease and the underperformance of two of Huntsman’s operating divisions. The 2020 Survey is available here.

Net Debt 52

Net Debt EBIT Marketability Specific Risk 52

Benzinga

JUNE 14, 2023

The Terminal was officially placed in-service and loaded its first vessel in July 2020. The financing of the Transaction, including the Equity Offering and contemplated Debt Offerings, has been structured to maintain the investment grade ratings and outlooks assigned to Gibson by DBRS and S&P.

Dividends 40

Dividends Equity Finance EBITDA 40

Musings on Markets

MARCH 19, 2022

While the value crowd, bereft of victories for a long time, may be inclined to do a victory dance, it is worth noting that the same phenomenon occurred between February and March of 2020, at the start of the COVID crisis, but that growth companies quickly recouped their losses and finished ahead of mature companies by the end of 2020.

Start-ups 100

Start-ups Risk Premium Equity Market Capitalization 100

Musings on Markets

JUNE 23, 2023

From 2001 to 2020, revenue growth at semiconductor businesses has dropped to single digits, as higher demand for chips in new uses has been offset by loss of pricing power, and declining chip prices. as margin in 2020 and 38.4% as margin in 2021.

Start-ups 103

Start-ups Marketability Market Capitalization Technology 103

Musings on Markets

FEBRUARY 27, 2023

While there is nothing inherently that makes one measure superior to the other, it is important to remember that gross debt can never be less than zero, but net debt can, for firms that have cash balances that exceed their debt.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Benzinga

DECEMBER 18, 2024

Proper Brands (Missouri): Proper Brands was founded in 2020 and is currently one of the largest independent operators in Missouri's adult-use cannabis market. The Company also announced that John Mazarakis, co-founder at Chicago Atlantic, has been appointed to the role of CEO and Co-Executive Chairman, effective immediately.

Finance 40

Finance EBITDA Equity Net Debt 40

Brian DeChesare

MARCH 19, 2025

Industry Consolidation Between 1990 and 2020, market concentration in sectors like food retail in the U.S. Excluding operating leases (which Capital IQ incorrectly adds to Net Debt for U.S. nearly doubled , with 75% of consumers now purchasing their groceries from Walmart (!). So, what is Sycamores plan?

Equity 59

Equity Private Equity Firm EBITDA Start-ups 59