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Big 4 Business Valuation vs. Bulge bracket Commercial banking
My original goal when in undergrad was corporate banking (good pay, somewhat work/life balance). I landed a job in commercial banking at a regional bank after graduating - loved the environment but the company was small so the deal size and complexity weren't where I wanted. So I decided to go back...
Valuation of an Artificial Intelligence Product Firm
Hello, I have a very specific question; when valuing an AI product business do we have some special/non-traditional valuation methods? Your answers will be of great help, Thank you
Business valuation when in abnormal growth rate
The free cash flow of a firm is projected to grow at compound annual growth rate of 35% for next 5 years, then 5% annual growth rate. Current year cash flow 400,000 and cost of capital for high growth time is 18% but after 5 years 12%. what is value of firm?
Valuation Analyst job offer (boutique advisory firm in Texas)
I recently received an offer for a Valuation Analyst role at a small boutique valuation and advisory firm in Texas. They have a focus on business valuation, litigation, and M&A. My role would be heavily weighted on business valuation and M&A work. It's a small shop (20-25 employees) and does not...
DCF valuation results into post-money or pre-money valuation?
Business plan involves future revenues which are already based on investment from investors, so valuation based on DCF should be post-money valuation? I am confused because usually if you perform valuation before investment it is pre-money valuation and than plus investment results to post-money...
RSM: Exit Opportunities, Worth it?
Hi WSO , I was recently offered a position with RSM in their Financial Advisory Consulting Services as a BVal Associate (not in NY). The hours are 60-65 during business season (pairs with auditors for internal business valuation) then more relaxed afterwards with internal/external valuations. Side...
Recreating a resume one year out of school
Hi all, For a little bit of background, I have now been out of school for one year and have been working as a valuation consultant (not big-4 but still a national firm). In this time I have learned a lot, but have also realized that I would be much happier elsewhere, and could also be doing better...
Salary- Big 4/Middle Market Business Valuations Associate
What is a typical starting salary+bonus (if any) for a b-val associate at a big4/Middle market accounting firm (BDO,GT,RSM,etc) - either in major cities like NYC /SF/CH or smaller markets? Also, what are the hours like during busy season? Better of worse than audit/tax??
Business Valuation vs. Audit as foundation to run a business
If my end goal is to run a small business, what would be a better foundation-a few years in audit or a few years in business valuation? I would assume that audit would teach one more about the accounting principles that are involved while valuation would offer one greater insight into the operations...
Advice Needed: I'm about to start at a Big 4 Valuation firm in NYC, how do I work to get on the more advanced projects?
I've read on this site that Big 4 Valuation projects can be highly variable. I'm trying to determine how to get on the more complex projects to gain experience and increase my various exit opps, Thanks
Q&A: Big Four Valuation Associate - Deciding Whether This Job Is Right For You
Mod Note (Andy) - This Q&A was originally posted last year but @SeekingAlpha180" said he can still take questions from you (+new questions about his transition) 3/7/16 update: WSO Monkeys - I just moved to a top MM IB doing M&A in one of the main sectors I covered in valuation; I'm happy to also...
Transition from Operations to investment / portfolio management
Hi All, I'm currently doing PE and hedge fund financial / regulatory reporting (operations) for one of the major US Banks. I have infrequent interaction with portfolio managers and investment teams that select and analyze portfolio investments (mainly mediating auditors' questions to the PMs about...
Moving from valuation analyst to investment banking
Has anyone had any success breaking into investment banking after working as a valuation analyst? How long should I stick with this job before looking for exit opps? Would I have a better shot trying to get into a top business school and then coming in as an associate than trying to break in as an...
Startup Apparel Company Valuation
How would y'all value a startup apparel business. Primarily web-based. ~$60k in LTM revenue. Looking for funding, trying to establish a realistic valuation. Likely Friends and Family or Angels, not VC's at this stage. Help!
Comparable
Hi everybody, I working in a low-middle market boutique and my MD told me that when performing a comparable transaction analysis: don't go further 2 years before. However, the last fairness opinion I looked at, GS performed an analysis going until 6-7 years before. What do you think ? Thanks a lot...
Q&A: Former Business Valuations Associate (BO-> Val-> Corp Dev)
Maybe its just me (since I have selective reading, could very well be true) but when accounting firms and different groups within accounting firms are brought up "Business Valuations" is always asked about. So I thought would do an AMA on the mysterious world of Business Valuations. Here's a quick...
An enthusiast in the field of finance & strategy
Although I happen to be a late entrant in this blog, WSO for years have popped up in my internet search engine activities on finance keywords in the past. I have amply benefited from the WSO discussions and hence wish to bring something valuable to the table from my repertoire of experience in the...
Is the F500 Corporate Finance ----> Valuation FT move possible?
Hey Everyone, Was just curious how possible was it to break into a Valuation Group full time (i.e: Duff & Phelps, Big 4, etc.) from a F500 background (internships). Looking at what valuation does I am trying to keep it as a possible option but I don't know much about the recruiting process for that....
Intellectual Property Finance Career
I will be starting with a Big 4 firm in their valuation group and was approached by a partner to consider looking into the firm's intellectual property practice (I have a background in electrical engineering and worked as a research analyst with a small VC fund for about two years, researching tech....
Equity Research/Valuation Type Resume -- CPA
I just finished my fourth and final CPA test. How I should position the CPA on my resume in the case that I do pass? I am ultimately looking to be in equity research but would value a position in valuation or something similarly close to the accounting end of the spectrum. I plan to start working...
Equity Research Resume -- CPA
I just finished my fourth and final CPA test. How I should position the CPA on my resume in the case that I do pass? I am ultimately looking to be in equity research but would value a position in valuation or something similar closer to the accounting end of the spectrum. I plan to start working...
Listing and Valuing Derivative Hedges on Financial Statements?
I am trying to find the value if outstanding derivatives on a company's financial statements? If they are not specifically called out on the statements (I was expecting to see hedges listed on the balance sheet ) or listed in the notes where else could I expect to find these? How can I find the...
Valuation Question - Dealerships with Floor Plan Financing
I'm analyzing auto dealerships and am not sure exactly how to think about them in terms of comparability / valuations due to the floor plan financing aspect of dealerships. For those who don't know, floor plan financing is basically like a revolver where the dealer buys cars from the manufacturer....
Valuation of Metals and Mining Companies
Hey everyone, I just thought that I'd share a great resource for information on the basics of valuing metal and mining companies. The pdf doesn't cover everything by all means but it is a quick beginning step for one to build out their model. It also has links to about 10-15 other PDFs that cover...
What generally happens to book value of a combined company after an acquisition
Hey guys. I'm not in corporate finance , so this is kind of just a side thing I'm curious about. I asked my IBD buddy but his response was "I'm a banker, all I care about is profits and revenue, I could give two shits about book value". How very banker of you, but its all in the game. I'm a value...
Another P/BV question
Hi, I would appreciate it if someone could help me with the following - I want to calculate P/BV, P/Assets etc. multiples for a bank whose equity is composed from common and preferred shares. The issue is that preferred shares are not listed so there is no market price which could be used. How would...
Business valuation certifications: what do you know about the NACVA AVA cert?
Has anyone heard of the accredited valuation analyst (AVA) certification offered by the National Association of Certified Valuators and Analysts (NACVA)? Here's the link: http://www.nacva.com/certifications/c_ava.asp I'm at a boutique Silicon Valley consulting firm and my boss is sponsoring me for...
Calculating cost of equity for a company with negative book equity
I'm doing a valuation on a privately held company with a negative book value of equity. The equity is negative because the company is in its early years, but has already distributed far more than its initial contribution+earnings. The ability to make distributions comes from another line of business...
P/E & P/B vs ROE
Hello! I'm trying to valuation a company that makes aluminum capacitors (6997 JT Equity). In case you don't know what they are, capacitors are a kind of electronic component used in basically every electronic device. I need to figure out what valuation model to use and tell why I choose it instead...
How does one value a car-park?
How does one value a car-park? Is it just via the standard mix of comps and DCF ? If so, what are the key metrics that drive value, and what are some of the multiples used? I'm assuming drivers of value would be: size of carpark, price per spot, occupancy rates, proximity to CBD/airport/convention...
Paypal early stage valuation *help
I noticed that paypal raised 3 series of funds back in 1999. Does anybody know where i can get the valuation or at least the multiples ? i tried factset but no luck. help will be greatly appreciated thanks.
Pro-Forma Question on Case Study Help!!!
All, One of my interviews is requiring me to value a fictitious company. They give me the Income and Balance Sheet for Yr 1. Its a very basic statement with Sales, COGS, OPEX and NI and CASH, AR , INV, PPE, AP , and Debt. No Dep or Int They basically project out the income statement and capex for...
PE FIRM in sights
hello monkeys, i am an engineering student (no finance background) and will be doing an interview soon with a PE firm. could you please recommend a book or two that covers the type of modeling that is needed in PE . I cant afford to do the Wall Street Prep course so preferably text books or free...
Excel football field template
Has anyone found online?
Gonna A Run A DCF, Need Ideas for Companies to Use
Hi guys, So basically, I have to do a DCF valuation for a class and have been assigned the industrials or energy sectors. Her definition of Industrials is really broad, but it includes a variety of companies from chemicals, materials, automanufacturers, utilities, etc. and energy is energy.
Associates and Minorities in a DCF
Struggling with the proper way to capture associate and / or unconsolidated JV income in a DCF . Our standard model captures operating income and free cash items, but does not offer a sensible place to insert this 'dividend' stream. Reverse question related to how to back out minorities that have...
Net Working Capital - Valuation model
To any/all who can advise on a question I have regarding the following, I'd have much gratitude: I am working out a Valuation model for a theoretical Steel MFG outfit, using a Free Cash Flow - NPV approach to find a value for the firm. I have mocked up financials, and only a small amount of...
Thoughts of Valuation Firms?
Does anyone know of rankings for Valuation firms? I have had trouble finding information from non-biased sources. All I have really heard is that it's Houlihan and everyone else. Is this correct? I have an offer at Deloitte and an in at SRR. Any information would be helpful!
Companies With Financial Advisory/Valuation Arms Besides HLHZ and Duff & Phelps
Title. What are places, besides the Big 4/ HLHZ / Duff &Phelps that have a financial advisory/valuation arm? Basically, I've realized that I am mostly interested in accounting, but also want a good amount of financial modeling /NPV analysis, and based on what I've read, these firms would meet that...
Grant Thornton Business Valuation Associate - Need help!
Hey Guys...this might be a bit redundant and similar to other postings, but I have a few general questions and would appreciate your responses as experienced professionals: I have a interview coming up with Grant Thornton for a Business Valuation Associate position within EAS. Any idea/tips for the...
Valuation final step
Hi Guys, I am confused as to why you would subtract net debt from Enterprise value to get to equity value . What does Enterprise value really mean as compared to Invested Capital? Also, in some references, only excess cash is subtracted instead of the entire cash amount from net debt. I have been...
Business Valuation Entry-Level Tips?
Hi all, this is pretty general, I'm looking to soak some WSO wisdom on making an impact at entry-level at a business valuation/financial advisory outfit, straight out of college. Much obliged and TIA.
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