IBG Business

JANUARY 9, 2023

In reaching its decision, the court relied on the basic definition of “security” in the securities law: The term “security” means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement. Selling a Business?

Treasury 52

Treasury Start-ups EBITDA Compliance 52

Valutico

OCTOBER 20, 2022

Practitioners assume the business is sold as a multiple of some financial metric like EBITDA, based on what they can see today for other businesses that were sold, and what these comparable trading multiples are. . Risk free rate (can use 10y Treasury). EV/EBITDA Multiple. Exit Multiple (EV/EBITDA). Cost of Debt.

Discounted Cash Flow 52

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

Brian DeChesare

FEBRUARY 28, 2024

The output is more about the credit stats and ratios (Debt / EBITDA, EBITDA / Interest, etc.), Treasury yield at? the appropriate debt vs. equity mix, and additional capital needs over the next few quarters. You may have to cover dozens of issuances , meaning you cannot spend that much time on a single company or bond.

Equity 59

Equity Banking Start-ups Finance 59

Musings on Markets

FEBRUARY 15, 2023

As I have argued in all four of my posts, so far, about 2022, it was year when we saw a return to normalcy on many fronts, as treasury rates reverted back to pre-2008 levels, and risk capital discovered that risk has a downside.

Start-ups 52

Start-ups Equity Risk Premium Risk-free Rate 52

Musings on Markets

DECEMBER 2, 2020

Cost of Capital & Failure Risk : For the cost of capital, I will assume that Airbnb’s cost of capital will be 6.50%, close to the cost of capital of hotel companies, to start the valuation, but over time, it will rise to 7.23%, reflecting an expected increase in the treasury bond rate from current levels to 2% in 2031.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52

Musings on Markets

MARCH 19, 2022

In the graph below, I list out two measures of expected inflation, one from a inflation expectations ETF ( ProShares Inflation Expectation ETF ) and the other from the Federal Reserve 5-year forward inflation measure , computed as the difference between treasury and TIPs rates.

Start-ups 100

Start-ups Risk Premium Equity Market Capitalization 100

Brian DeChesare

MAY 18, 2022

Treasuries, short the JPY/NZD, long oil futures, long commercial banking equities, and short copper futures. Rather than screening by corporate metrics such as FCF Yield or TEV / EBITDA, you might sift through large sets of data and use correlations to find a few ideas that might be profitable.

Banking 52

Banking Equity Marketability Finance 52

Musings on Markets

APRIL 7, 2025

Staying with the safety theme, I looked at US companies, broken down by debt burden (measured as debt to EBITDA): On this dimension, the numbers actually push against the flight to safety hypothesis, since the companies with the least debt performed worse than those with the most debt.

Marketability 98

Marketability Risk Premium Start-ups Equity 98

Musings on Markets

JULY 24, 2024

It is true that most investors price companies, rather than value them, and use pricing metrics (PE ratios, EV to EBITDA) to judge cheap or expensive. While some of the riskiest parts of the world trade at low multiples of EBITDA, a significant part of Europe also does, including France and Norway.

Risk Premium 75

Risk Premium Equity Start-ups EBITDA 75

Musings on Markets

JANUARY 10, 2025

EBIT & EBITDA multiple s 5. Since I update the data only once a year, it will age as we go through 2025, but that aging will be most felt, if you use my pricing multiples (PE, PBV, EV to EBITDA etc.) Standard Deviation in Equity/Firm Value 2. Book Value Multiples 3. Fundamenal Growth in Operating Earnings 3. Revenue Multiples 4.

Risk Premium 119

Risk Premium Dividends Start-ups Corporate Finance 119

A Neumann & Associates

JANUARY 31, 2025

Nonetheless, the absolute number of specific buyers showing interest will depend upon the business category, the total revenue generated annually by the business, and the historic core profitability or EBITDA that results. The number of private equity investors and funds currently active in the market is enormous. 22% in August 2020.

Equity 52

Equity Treasury Marketability EBITDA 52

Musings on Markets

FEBRUARY 6, 2025

Thus, if the US treasury bond rate (4.5%) is the riskfree rate in US dollars, and the expected inflation rates in US dollars and Brazilian reals are 2.5% Thus, if the US treasury bond rate (4.5%) is the riskfree rate in US dollars, and the expected inflation rates in US dollars and Brazilian reals are 2.5%

Risk Premium 67

Risk Premium Start-ups Enterprise Value Equity 67