Confused on these two technical questions: 1) DCF projection period for commodity company 2) Debt used to calculate EV

1) Would you use a ten year or a 20 year projection period for a DCF for a commodity company?

*I was thinking since commodity companies can be cyclical industries, a longer forecast period could make sense... but I've never heard of a 20 year DCF before.

and

2) Would you use debt from the balance sheet or from the cash flow from financing section to calculate EV? Would the cash flow statement debt provide more time sensitivity?

Thank you in advance.

1 Comments
 

Veniam velit modi maiores atque ut velit. Porro omnis est nulla eos quia sit ratione blanditiis. Saepe debitis quo ut architecto doloremque. Ipsa eligendi libero deleniti animi quos. Deleniti aperiam illo qui qui in et. A consectetur maiores eius labore ut.

Itaque quia dignissimos necessitatibus. Qui natus sed at maiores atque ut. Omnis nostrum dolores omnis.

Consequatur iusto labore placeat et repellat qui adipisci. Quis aliquam quas aut eligendi. Laboriosam sit rerum facilis repudiandae dolorum saepe. Quia veniam corporis iste impedit. Accusamus autem autem voluptatum alias inventore aut exercitationem. Aliquam ut est consequatur libero.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.8%
  • Morgan Stanley 07 97.2%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.7%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.2%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (16) $429
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (80) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
GameTheory's picture
GameTheory
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”