Hi everyone and thanks for taking the time to read this note.
My question is, let's say I'm in July, trying to conduct a valuation using FY projections going forward.
My columns are: 2018A 2019A 2020A 1H21LTM, and my question is how to continue.
Do I annualize for FY2021 by doubling 1H (assuming no signif seasonality) figures and then use my projected FY21 as the basis for future FY assumptions?
Then, a followup: how does that work with the mid-year convention? I recall there is a way/switch called "stub period" but I cannot remember exactly. Any help with understanding how to model tricky timing structures (basically anything that doesn't start with current year's 31-Dec) would be highly appreciated.
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