NOL Utilization

Could someone explain why nol utilization is preserved in a stock transaction vs. not preserved in an asset transaction?

Thanks in advance for help!

6,061 WSO Academy Investment Banking Session Reviews: 4.82/5

Class of '24 Sep 2026 Cohort

5.00/5

Investment Banking Short Resume Review / Recap

“The session was very helpful particularly the detailed review of my CV and the discussion of networking strategies. My mentor gave practical suggestions on how to present my experience more clearly and make my bullet points more relevant to investment banking. I also appreciated the advice on identifying contacts and writing more personalised outreach messages. The only improvement would be to leave little more time for concrete networking examples and a clearer list of next steps after the call.”

Class of '25 Nov 2026 Cohort

5.00/5

Investment Banking Career Roadmap (optional)

“Benjamin gave me a clear, honest roadmap for breaking into investment banking. We worked through where my current role and MSc fit, which banks and seats to target first, and what to prioritise over the next few months. Benjamin asked sharp questions about my background and was straight with me on realistic timelines and what banks look for in someone coming from outside the industry. Every part of the call was useful. I left with a plan I can act on right away. I'd recommend Benjamin to anyone.”

See All 11,240 WSO Academy Reviews

1 Comments

jhoratio

CD

16y

Best Response

Necessitatibus sit ut error fugiat possimus. Amet reiciendis cum veritatis. Suscipit natus voluptates incidunt repellat sit.

Reply

Quote

Report

Other

Authored by: Certified Corporate Development Professional - DirectorCertified Corporate Development Pro

Trending Content - Investment Banking Forum

+132	Why do JEF bankers always think they’re EB?	53	2h
+67	Is my MD a grifter? 16 years, 8 firms	28	19h
+67	"Corporate & Investment Banking" Analyst - Why?	40	1d
+48	MS / GS IBD ACs London interview processes run by nationality?	43	2d
+43	No return offer - UPDATE.	12	3d
+42	Moat of modelling in PE/Finance completely vanished;	12	1d
+41	Article: UBS Wall Street Rebuild Is a Study in Management Failure	7	5d
+34	Want to join investment banking; is it too late/is my background unacceptable?	28	22h
+28	Ambitious CC Student trying to break into IB	12	5h
+27	Think I'm fucking up my analyst years	5	1h

Career Resources

1	redever	99.2
2	Secyh62	99.0
3	BankonBanking	99.0
4	kanon	99.0
5	CompBanker	98.9
6	DrApeman	98.9
7	Betsy Massar	98.9
8	dosk17	98.9
9	GameTheory	98.9
10	bolo up	98.8

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

NOL Utilization

Score Breakdown

Feedback

Score Breakdown

Feedback

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

NOL Utilization

See All Comments - 100% Free

Trending Content - Investment Banking Forum