Musings on Markets

AUGUST 19, 2024

With declining businesses, facing shrinking revenues and margins, it is cash return or dividend policy that moves into the front seat. With more mature companies, as investment opportunities become scarcer, at least relative to available capital, the focus not surprisingly shifts to financing mix, with a lower hurdle rate being the pay off.

Corporate Finance 121

Corporate Finance Finance Start-ups Dividends 121

Benzinga

JULY 22, 2024

The transaction is expected to be more than 10% accretive to earnings per share and more than 20% accretive to cash available for dividend per share in 2025, and will enable us to continue investing in our business while increasing shareholder returns and maintaining a strong balance sheet." third quarter of 2024 annualized adjusted EBITDA.

Dividends 45

Dividends EBITDA Enterprise Value Equity 45

Valutico

SEPTEMBER 22, 2023

The income-based approach determines a company’s value by assessing its anticipated future income-generating potential, employing methodologies such as Discounted Cash Flow (DCF) Analysis, Capitalization of Earnings, the Income Multiplier Method, Dividend Discount Model (DDM), and Earnings-Based Valuation. Calculating EV/EBITDA: $2.5

Discounted Cash Flow 52

Discounted Cash Flow Intangible Assets Book Value Asset-based Approach 52

Benzinga

SEPTEMBER 12, 2022

– Net Proceeds are expected to be used for general corporate purposes including, but not limited to, additional debt repayment and dividend payments –. EBITDA multiple on 2019 results and a $455K per key valuation –. Price implies a blended 2.9% cap rate and 27.0x PHILADELPHIA, Sept.

Dividends 40

Dividends EBITDA Marketability 40

Benzinga

NOVEMBER 25, 2024

Through our diversified and primarily contracted clean energy portfolio, Clearway Energy endeavors to provide our investors with stable and growing dividend income. Our portfolio comprises approximately 11.7 GW of gross capacity in 26 states, including 9 GW of wind, solar, and battery energy storage and over 2.7 Clearway Energy, Inc.'s

Dividends 49

Dividends Capital Structure EBITDA Finance 49

Equilest

NOVEMBER 25, 2023

Uncover the intricacies of financial modeling, from understanding fundamental concepts like Free Cash Flow to Firm and Dividend Discount Model, to navigating advanced methodologies such as LBO and DCF. It provides a clearer picture of a company's ability to reward its shareholders with dividends or share buybacks.

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Benzinga

JUNE 6, 2022

If a transaction is completed, it is anticipated that the free cash flow, Adjusted EBITDA and Non-GAAP EPS of Franchise Group would significantly increase.

Dividends 40

Dividends EBITDA Finance 40

Musings on Markets

OCTOBER 12, 2023

Even when you are successful in dissuading these companies from "bad" investments, but may not be able to stop them from returning the cash to shareholders as dividends and buybacks, rather than making "good" investments. in the 1998-2010 time period to 5.95 in the 2011-2023 time period.

Market Capitalization 112

Market Capitalization Enterprise Value Start-ups Marketability 112

Benzinga

JULY 12, 2022

"On the strength of the contracted cash flows from this acquisition, we are increasing our annual dividend growth guidance to 6% through 2025 from the previous 5%. Subject to Board approval, this will include a 6% dividend increase for 2022 and represents our ninth consecutive year of dividend increases," stated Mr. Vaasjo. . "We

Dividends 40

Dividends Finance EBITDA Equity 40

Benzinga

FEBRUARY 14, 2024

Adjusted EBITDA rose by. Adjusted EPS was $3.21, up from $2.49 a year ago, above the consensus of $2.86. Adjusted EBIT increased 18% Y/Y to $392 million, with margin expanding to 17% from 15% prior year quarter. Full story available on Benzinga.com

EBIT 52

EBIT EBITDA Dividends Equity 52

Benzinga

AUGUST 20, 2024

Per the company's chief executive, Sean Reilly, "The revenue gain, combined with continued discipline on expenses, allowed us to produce adjusted EBITDA growth of nearly 7% and diluted AFFO per share growth of 9.5%. Also, we continue to pace at the top end of our previously provided guidance of $7.75

EBITDA 59

EBITDA Dividends Marketability 59

Benzinga

APRIL 23, 2024

net principal debt-to-annualized EBITDA ratio for 1Q‘24 (vs. per share cash dividend declared _ (1) A reconciliation of GAAP net income to FFO is provided at the end of this press release. For the first quarter of 2024, ROIC's net principal debt-to-annualized EBITDA ratio was 6.4 per share cash dividend.

Dividends 40

Dividends Intangible Assets Start-ups EBITDA 40

Benzinga

FEBRUARY 29, 2024

million Adjusted EBITDA of $237.6 million one-time special dividend payment, $59.0 million Adjusted EBITDA of $68.2 million Adjusted EBITDA of $237.6 million one-time special dividend payment, $59.0 million Adjusted EBITDA of $68.2 Full Year 2023 Highlights 1 Revenues of $763.8 million Net Income of $37.3

EBITDA 40

EBITDA Dividends Technology Total Shareholder Return 40

Chris Mercer

FEBRUARY 14, 2024

RSDs are not value drivers like EBITDA, gross profit, number of cases, or any other value drivers. Company A’s annual dividend for the 10% interest is $100,000, which provides a 10% expected dividend yield based on the MM/FC value of the interest. An RSD simply measures the difference between two prices.

Marketability 52

Marketability Dividends Appraisal Business Valuation 52

Musings on Markets

MARCH 8, 2023

This is the last of my data update posts for 2023, and in this one, I will focus on dividends and buybacks, perhaps the most most misunderstood and misplayed element of corporate finance. Viewed in that context, dividends as just as integral to a business, as the investing and financing decisions.

Dividends 102

Dividends Start-ups Corporate Finance Finance 102

Valutico

JUNE 26, 2023

Based on the first-quarter financial performance, Devon declared a fixed-plus-variable dividend of $0.72 billion by applying the observed trading multiples EV/Sales, EV/EBITDA, EV/EBIT and P/E. Despite a decline in realized prices for all commodities, the company upholds steady growth. billion using a WACC of 11.7%. billion to USD 35.4

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Dividends 52

Benzinga

JULY 17, 2023

1) This transaction is consistent with Berry's shareholder return model, which provides that 20% of annual post-fixed dividend Adjusted Free Cash Flow (2) will be returned to shareholders through variable dividends and the remaining 80% will be used for stock and debt repurchases, as well as bolt-on acquisitions such as this one.

Dividends 40

Dividends EBITDA Technology 40

Benzinga

OCTOBER 26, 2022

Adjusted EBITDA and EPS Guidance Affirmed, Outlook Updated to Reflect FX Translation Global Restructuring Expected to Yield $40 Million in Profit Growth in 2023 Balanced Capital Allocation Strategy Includes NoteMachine Acquisition and Continued Share Repurchases. GAAP net income up 1% to $19 M; adjusted EBITDA up 11% to $189 M.

EBITDA 40

EBITDA Dividends Intangible Assets 40

FE International

MARCH 23, 2022

If you want to understand how to value a business, the first question is whether to look at a multiple of SDE , EBITDA or Revenue. SDE vs. EBITDA vs. Revenue. Crucially, any owner salary/dividends can be added back to the profit number, too. If you want an accurate valuation, you can receive a free one via our page here.

EBITDA 105

EBITDA Start-ups Business Valuation Marketability 105

Valutico

JUNE 15, 2023

Additionally, NVIDIA returned USD 99 million in cash dividends to shareholders, exemplifying its financial robustness. The Trading Comparables analysis resulted in a valuation range of USD 60 billion to USD 277 billion by applying the observed trading multiples EV/Sales, EV/EBITDA, EV/EBIT and P/E. and Cisco Systems, Inc.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Dividends 52

Valutico

MAY 18, 2023

Furthermore, there are concerns regarding IBM’s uncertain dividend and recent acquisition spree. The Trading Comparables analysis resulted in a valuation range of USD 106 billion to USD 235 billion by applying the observed trading multiples EV/Sales, EV/EBITDA, EV/EBIT and P/E. and Alphabet Inc.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Dividends EBITDA 52

Valutico

MARCH 1, 2023

Furthermore, the company increased dividends by 10% and announced that it will buy back GBP 2.3 (USD The Trading Comparables analysis resulted in a valuation range of GBP 98 (USD 199) billion to GBP 137 (USD 166) billion by applying the observed trading multiples EV/EBITDA, EV/EBIT, P/E and P/B. billion worth of shares.

Discounted Cash Flow 52

Discounted Cash Flow Net Debt EBIT Equity 52

Valutico

NOVEMBER 14, 2022

This strong share price performance was further bolstered by an average gross annual dividend yield of roughly 6% over the past 10 years. Our Trading Comparables analysis produced a valuation range of €178 billion to €222 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT, P/E and P/B.

EBIT 52

EBIT Equity Dividends EBITDA 52

Valutico

NOVEMBER 28, 2022

At this level the dividend yield is 2.8%. . The Trading Comparables analysis resulted in a valuation range of CHF 47 to 83 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT and P/E. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period. Valutico Analysis.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Valutico

NOVEMBER 28, 2022

At this level the dividend yield is 2.8%. . The Trading Comparables analysis resulted in a valuation range of CHF 47 to 83 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT and P/E. ABB performed particularly well in the COVID years 2020-2021, almost doubling its share price during this period. Valutico Analysis.

Discounted Cash Flow 52

Discounted Cash Flow EBIT Market Capitalization Equity 52

Valutico

NOVEMBER 14, 2022

This strong share price performance was further bolstered by an average gross annual dividend yield of roughly 6% over the past 10 years. Our Trading Comparables analysis produced a valuation range of €178 billion to €222 billion, by applying the observed trading multiples EV/EBITDA, EV/EBIT, P/E and P/B.

EBIT 52

EBIT Equity Dividends EBITDA 52

Benzinga

JUNE 16, 2022

times estimated 2023 adjusted EBITDA multiple. Targa now estimates standalone 2022 adjusted EBITDA to be between $2.675 billion and $2.775 billion and year-end leverage ratio of about 2.7 Underpinned by long-term high-quality producer dedications. billion acquisition price represents approximately 7.5 times and improving thereafter.

EBITDA 40

EBITDA Debt Financing Dividends Finance 40

Benzinga

FEBRUARY 15, 2023

net principal debt-to-annualized EBITDA ratio for 4Q‘22 (vs. per share cash dividend paid _ (1) A reconciliation of GAAP net income to Funds From Operations (FFO) is provided at the end of this press release. Additionally, ROIC's net principal debt-to-annualized EBITDA ratio for the fourth quarter of 2022 was 6.6

Dividends 40

Dividends EBITDA Intangible Assets Equity 40

Benzinga

OCTOBER 22, 2024

net principal debt-to-annualized EBITDA ratio for 3Q‘24 (vs. per share cash dividend declared _ (1) A reconciliation of GAAP net income to FFO is provided at the end of this press release. For the third quarter of 2024, ROIC's net principal debt-to-annualized EBITDA ratio was 6.3 per share cash dividend.

Dividends 40

Dividends EBITDA Intangible Assets Equity 40

Benzinga

OCTOBER 24, 2023

million in Horizon Adjusted EBITDA in 2022. 2022 Horizon Adjusted EBITDA multiple net of synergies 2 Approximately $51,000 per fiber route mile Financing Shentel intends to fund the Transaction with a combination of existing cash resources, revolving credit facility capacity and an amended and upsized credit facility. 3 Includes $9.6

EBITDA 40

EBITDA Banking Finance Dividends 40

Andrew Stolz

MAY 8, 2020

4) Big payouts – dividends and stock buyback. (5) Estimate Terminal Value – Terminal Value is then estimated either by using a terminal exit multiple (usually an EBITDA multiple) or with a Terminal Growth Rate ( Gordon Growth Method). 2) Shrinking or negative margins. (3) 3) Asset divestitures. (4)

Discounted Cash Flow 52

Discounted Cash Flow Weighted Average Cost of Capital Terminal Value Net Present Value 52

Reynolds Holding

FEBRUARY 21, 2023

Activist Directors – Determinants Our research shows that activists are more likely to demand or acquire board representation if the firm has higher levels of institutional ownership, a smaller market capitalization, worse stock market performance, and, in particular, lower dividend payouts.

Dividends 56

Dividends Marketability EBITDA Market Capitalization 56

Benzinga

SEPTEMBER 30, 2022

billion in sales and adjusted EBITDA of $340 million, an increase of 47% compared to the $232 million of adjusted EBITDA generated during fiscal year 2021. For fiscal year 2022, Worthington's Consumer Products, Building Products and Sustainable Energy Solutions businesses delivered $1.3

EBITDA 40

EBITDA Marketability Dividends Technology 40

Value Scout

FEBRUARY 24, 2023

Even more specifically, private equity firms want to see at least 20 to 25 percent annual profit, which may require the company to improve EBITDA, obtain economies of scale or synergies, and earn high margins. The target company’s facts and figures must support those forecasts.

Private Equity Firm 52

Private Equity Firm Equity Start-ups Dividends 52

Benzinga

NOVEMBER 2, 2022

million, respectively, results in a third quarter 2022 net debt to annualized adjusted EBITDA ratio of 7.0x. million of undrawn forward equity, the net debt to annualized adjusted EBITDA ratio would be 6.0x. As previously announced, the Board of Trustees declared a fourth quarter 2022 regular cash dividend of $0.13 to $1.05.

Dividends 40

Dividends Equity Net Debt Finance 40

Benzinga

MAY 4, 2023

—Fifth Consecutive Quarter of Gross Margin Expansion— —Industry-Leading Operational Performance at Pre-Pandemic Levels— —34% Growth in Adjusted EBITDA Year-Over-Year— JASPER, Ind., Adjusted EBITDA of $15.4 Adjusted EBITDA of $15.4 Adjusted EBITDA increased year-over-year by 34% to $15.4 Net income of $5.7 million, up $3.9

EBITDA 40

EBITDA Marketability Dividends Equity 40

Equilest

MARCH 17, 2022

Strictly speaking, the result to be taken into account should be the free cash flow generated by the company, i.e. the cash flow actually available to a buyer to repay acquisition debt, through the distribution of dividends: this is the DCF method (for Discounted Cash-Flows), which is detailed below. EBITDA and EBIT). EBE and ENE.

Business Valuation 40

Business Valuation EBIT Discounted Cash Flow EBITDA 40