Musings on Markets

JANUARY 9, 2021

I spent the first week of 2021 in the same way that I have spent the first week of every year since 1995, collecting data on publicly traded companies and analyzing how they navigated the cross currents of the prior year, both in operating and market value terms.

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Reynolds Holding

OCTOBER 21, 2024

What GameStop put on display was how much has changed—in technology and business models—since 2005 when we last comprehensively updated our equity market rules. The markets have moved to overwhelmingly trade electronically, with transaction volume in listed equities tripling in the last 17 years. [3]

Equity 45

Equity Marketability Start-ups Treasury 45

Musings on Markets

FEBRUARY 27, 2022

After paying taxes on this income, the residual amount represents net income, the final measure of equity earnings, and the basis for computing earnings per share and other widely used measures of profitability used by equity investors.

Start-ups 99

Start-ups Equity Book Value Marketability 99

Musings on Markets

JANUARY 17, 2024

Heading into 2023, US equities looked like they were heading into a sea of troubles, with inflation out of control and a recession on the horizon. Energy, one of the few survivors of the 2022 market sell-off, had a bad year, as did utilities and consumer staples. increase in market capitalization.

Risk Premium 79

Risk Premium Start-ups Equity Treasury 79

Musings on Markets

OCTOBER 12, 2023

trillion was invested by impact investors in 2021, with a diverse range of investors: Global Impact Investing Network, 2022 Report Not surprisingly, the balance between social impact and financial return desired by investors, varies across investor groups, with some more focused on the former and others the latter.

Market Capitalization 112

Market Capitalization Enterprise Value Start-ups Marketability 112

Musings on Markets

JANUARY 27, 2022

Inflation numbers have been coming in high now, for more than a year, but for much of the early part of 2021, bankers, investors and politicians seemed to be either in denial or casually dismissive of its potential for damage.

Risk-free Rate 99

Risk-free Rate Treasury Price to Book Start-ups 99

Musings on Markets

NOVEMBER 9, 2021

In 2021, looking at the company, I feel more convinced than I was a few years that it is, at its core, an automobile company, and while it will continue to derive revenues from batteries and perhaps even software, its pathway to becoming a trillion dollar market cap company still runs through the "car company" story.

Start-ups 101

Start-ups Dividends Marketability Market Capitalization 101

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. Return on Equity 1. Equity Risk Premiums 2. Return on (invested) capital 2. Return on Equity 2.

Dividends 105

Dividends Risk Premium Equity Book Value 105

Reynolds Holding

AUGUST 31, 2023

This update discusses shareholder activism activity involving NYSE- and Nasdaq- listed companies with equity market capitalizations in excess of $1 billion and below $100 billion (as of the last date of trading in 2022) during 2022. Announced shareholder activist activity increased relative to 2021.

Market Capitalization 52

Market Capitalization Equity Marketability 52

Musings on Markets

MAY 5, 2023

The overarching questions for us all are whether this crisis will spread to the rest of the economy and market, as it did in 2008, and how banking as a business, at least in the US, will be reshaped by this crisis, and while I am more a dabbler than an expert in banking, I am going to try answering those questions.

Banking 98

Banking Equity Start-ups Treasury 98

Valutico

JANUARY 17, 2023

The company has a leading position in the Southeast Asian market with their e-commerce platform Shoppee and their gaming offers by Garena. Sea currently has a market capitalization of $29.8 million which was an improvement of 34% compared to 2021’s third quarter. The Flow-to-Equity analysis produced a value of $28.1

Discounted Cash Flow 52

Discounted Cash Flow Market Capitalization Equity Start-ups 52

Musings on Markets

OCTOBER 6, 2023

In this post, I will look at another initial public offering, Birkenstock, that is likely to get more attention in the next few weeks, given that it is targeting to go public at a pricing of about €8 billion, for its equity, in a few weeks.

Intangible Assets 126

Intangible Assets Book Value Equity Start-ups 126

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 105

Start-ups Market Capitalization Marketability Dividends 105

Valutico

OCTOBER 17, 2022

This led to a market cap of €78 billion after the IPO, which is higher than the current market capitalization of its parent company Volkswagen AG (€72 billion). . It sold 301,000 cars in 2021, an 11% improvement compared to the prior year. We arrived at a value of €133 billion using a Cost of Equity of 6.7%. .

Discounted Cash Flow 52

Discounted Cash Flow EBIT Equity EBITDA 52

Valutico

NOVEMBER 28, 2022

Interogo Holding’s equity strategy fund, the family office Moyreal and Michael Halbherr, chairman of ABB E-Mobility, are participating in the private placement. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period. billion using a Cost of Equity of 7.1%.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Valutico

NOVEMBER 28, 2022

Interogo Holding’s equity strategy fund, the family office Moyreal and Michael Halbherr, chairman of ABB E-Mobility, are participating in the private placement. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period. billion using a Cost of Equity of 7.1%.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Valutico

FEBRUARY 8, 2023

After following the rest of the market down during the early Covid-19 period, the share price steadily increased, achieving an all time high of $250 per share in July 2021. by using the Discounted Cash Flow method, specifically our Flow-to-Equity approach, as well as a Trading Comparables analysis.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Equity EBITDA 52

Musings on Markets

SEPTEMBER 1, 2021

In the graph below, I plot the market capitalization of Chinese listed companies, in dollar terms, and as a percent of market capitalization of all global companies: World Bank Database Chinese equities have risen from a negligible share of global market capitalization, in 2000, to more than 10% of global market capitalization, in 2020.

Market Capitalization 98

Market Capitalization Marketability Start-ups Technology 98

Musings on Markets

APRIL 21, 2022

While total user numbers have leveled off in recent years, albeit with a jump in 2021, the daily active user count has continued to climb. To give a measure of Twitter's disappointing performance, note that the company's actual revenues in 2021 amounted to $5.1 The stock dropped below $6 in 2019, before mounting a comeback in 2021.

Start-ups 113

Start-ups Marketability Technology Market Capitalization 113

Benzinga

MAY 25, 2022

The move would follow up a busy 2021, which saw several large transactions in the space. A transaction that includes Wendy’s would be one of the biggest in the restaurant industry in the past few years, with a current market capitalization of $3.5 of Wendy’s with its partners.

Market Capitalization 52

Market Capitalization Marketability Equity 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. The reason is simple. Facebook: A Narrative Reset?

Start-ups 99

Start-ups Marketability Market Capitalization Technology 99

Valutico

NOVEMBER 14, 2022

Two weeks ago TotalEnergies announced its net income for the third quarter of 2022 which increased by 43% compared to 2021 and amounted to €6.6 We analyzed TotalEnergies by using the Flow to Equity method and a Trading Comparables analysis. The Flow to Equity analysis produced a value of €272 billion, with a Cost of Equity of 8.9%.

EBIT 52

EBIT Equity Dividends EBITDA 52

Valutico

NOVEMBER 14, 2022

Two weeks ago TotalEnergies announced its net income for the third quarter of 2022 which increased by 43% compared to 2021 and amounted to €6.6 We analyzed TotalEnergies by using the Flow to Equity method and a Trading Comparables analysis. The Flow to Equity analysis produced a value of €272 billion, with a Cost of Equity of 8.9%.

EBIT 52

EBIT Equity Dividends EBITDA 52

Valutico

APRIL 7, 2023

The estimated cost of the bank’s failure to the Deposit Insurance Fund is about USD 20 billion, and the FDIC will receive equity appreciation rights in First Citizens with a potential value of USD 500 million. by using our Flow-to-Equity simplified approach, as well as a Trading Comparables analysis. and Commerce Bancshares, Inc.

Banking 52

Banking Equity Market Capitalization Finance 52

Musings on Markets

NOVEMBER 1, 2023

To deliver this growth, I did assume that Tesla would have to invest large amounts of capital in capacity, and that this would create a significant drag on value, resulting in a equity value of just under $10 billion.

Start-ups 124

Start-ups Marketability Market Capitalization Equity 124

Equidam

NOVEMBER 22, 2021

On November 29th, 2021 you’ll be upgraded to the latest version of Equidam with updated valuation parameters. For decades, the technology sector’s part of global GDP has been gradually increasing, as has its share of world market capitalization. Thus, equity investors turned to private markets.

EBITDA 52

EBITDA Specific Risk Technology Marketability 52

Reynolds Holding

OCTOBER 29, 2023

As for the OSOV companies and DCSS companies that remained quoted, the total market capitalization of the former was $117.6 billion, while the total market capitalization of the latter was $898.9 percent of the combined market capitalization of all 3,584 companies listed on the Chinese stock market, or 18.4

Marketability 40

Marketability Market Capitalization Equity 40

Valutico

DECEMBER 19, 2022

After this shock to the price of the company’s shares, they recovered to €80 per share in November 2021, after which they went steadily downhill until they reached €46 per share in early October this year. The Discounted Cash Flow analysis produced a value of €189 billion using a Cost of Equity of 6.7%. . Disclaimer.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA EBIT Market Capitalization 52

Valutico

DECEMBER 19, 2022

After this shock to the price of the company’s shares, they recovered to €80 per share in November 2021, after which they went steadily downhill until they reached €46 per share in early October this year. The Discounted Cash Flow analysis produced a value of €189 billion using a Cost of Equity of 6.7%. . Disclaimer.

Discounted Cash Flow 52

Discounted Cash Flow EBITDA EBIT Market Capitalization 52

Reynolds Holding

JANUARY 9, 2023

billion [1] in 2022, a greater than 75% increase from 2021. (A market will be documented in the ISS Securities Class Action Services “Top 100 U.S. shareholder class action settlements is as follows: Twitter Just moments before the scheduled start of a jury trial in September 2021, investors and Twitter agreed to a $809.5

Banking 81

Banking Private Equity Firm Marketability Compliance 81

Cooley M&A

JANUARY 30, 2024

a sale, divestiture, change in strategy or management, return of capital to shareholders, etc.). To that end, many top activists stay close to private equity firms (or even activist buyout funds) to assess targets ripe for an M&A campaign. 10] So, what does place tech and healthcare companies in activist crosshairs?

Market Capitalization 52

Market Capitalization Equity Marketability Total Shareholder Return 52

Musings on Markets

FEBRUARY 2, 2023

A few of you did take issue with the fact that the growth rate that I used for the first five years dropped from 35%, in my November 2021 valuation , to 24%, in my most recent one. There is not much room to maneuver on either number, since half of all US companies have costs of capital between 7.3%

Start-ups 99

Start-ups Risk-free Rate Market Capitalization Marketability 99

Musings on Markets

OCTOBER 4, 2021

In the decade since, that has changed, as the smart phone market has exploded to reach hundreds of millions of Indians in 2020. Paytm's large user base, close to 350 million, and the wide acceptance of its wallets allow it to dominate the person to merchant (P2M) market in India, giving it a market share of close to 50% in early 2021.

Start-ups 97

Start-ups Banking Marketability Technology 97

Valutico

DECEMBER 4, 2023

Stock Market Implications In the recent past, most notably in 2020 and 2021, Netflix experienced considerable growth in the stock market. The DCF analysis yielded an equity value of USD 125 billion, predicated on a WACC of 10.1%. For a robust comparative landscape, we enlisted similar market players like Alphabet Inc.(Youtube),

Discounted Cash Flow 52

Discounted Cash Flow EBIT Start-ups EBITDA 52

Reynolds Holding

JULY 20, 2023

The fundamental concept of The New Paradigm is reflected in the 2021 report of The British Academy, Policy and Practice for Purposeful Business.

Market Capitalization 40

Market Capitalization Marketability Equity 40

Musings on Markets

JANUARY 6, 2023

Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world. I do report on a few market-wide data items especially on risk premiums for both equity and debt. Cost of Equity 1. Cost of Capital 3. Return on Equity 1.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Andrew Stolz

FEBRUARY 7, 2022

In July 2021, the stock price faced a sharp drop by more than 30%. It measures of how much free cash flow the company generates annually relative to the company’s size as measured in market capitalization. Massive dividend yield secured by strong cash generation. Download the full report as a PDF.

Dividends 52

Dividends Net Debt EBIT Marketability 52