Specifically, banks. Not looking for a lengthy tutorial, but what are the key multiples for FIG/bank deals? Am I correct that there's no real notion of enteprise value (becuase balance sheet debt and cash don't have the same meaning that they do for non-financials)?
So is it equity value /...assets? revenue? net income? (I also never see EBITDA). Do you treat non-interest income as revenue?
Thanks.
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See kids, that's why FIG doesn't delegate M&A work to the M&A team, they're too clueless
Not even close. But 👏 on the flex.
P/E and P/B are most common.
P/TBV used just as much at my shop fwiw
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