Modelling D&A if not given
I would model D&A = Maintenace Capex + Depreciated Expansion Capex, correct if wrong! Please help urgent thanks
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% of sales dude. don’t overkill yourself. or get it from CFS. cleanest source
That would only be for cim case right? for own case, I would not take from Cfs?
put together a depreciation waterfall and project capex
How do you do that? Take maint and growth Capex from cim and depreciate that using waterfall?
I'm not in PE but the CIMs I receive are typically just a Pro-Forma P&L and working capital schedule (if I'm lucky). I typically just ask the banker what the historical CAPEX and D&A has been, then verify in confirmatory diligence.
Curious to see how others go about it.
Have it equal capex. That's a pretty conservative approach and you don't really want to be underwriting returns based on D&A or the tax shield you get from it exceeding capex.
Equal to Maintenance Capex or total Capex?
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