Hey guys,
There is a concept in Moyer's book that I am not sure I understand. Any clarity would be appreciated.
On page 113, Table 5-9 'Preliminary Valuation of Target', there is a line item called "F-EV/Shares"
The book explains that this is calculated as follows:
[(LTM EBITDA × 6) – gross debt]/shares.
So, a firm would have a F-EV/Shares of, say 11.20.
Can anyone explain what F-EV/Shares refers to? What does this metric mean and why is it important?
Thanks in advance for your help!
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