Hi Monkeys,
Quick question. When calculating UFCF and UFCF yield, you obviously back out financing impact. My question is, if debt is used to fund M&A, do you also back out EBITDA associated from M&A? In my experience, several sponsors don't, so cashflow impact of debt is ignored but the benefit of M&A is still in place (which effectively overstates UFCF / UFCF%). Is this just a simplifying assumption?
| +77 | London MF REPE is paradise | 6 | 2h |
| +26 | The Difference Between a Good Business and a Good Acquisition | 7 | 1d |
| +18 | Career / Life Crossroads | 5 | 1d |
| +14 | Opinions on DTCP? | 5 | 13h |
| +14 | Partners misalignmet common? | 4 | 3d |
| +11 | on-cycle possible after lateraling? | 2 | 1d |
| +11 | Late 20’s career switch into IB/PE/REPE -realistic? | 3 | 6h |
| +10 | PE Associate Recruiting from a PE Analyst Program | 3 | 23h |
| +9 | Wynnchurch Thoughts? | 0 | 10h |
| +9 | What to do - advice needed for incoming 27 associate | 2 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Ut voluptate corrupti commodi soluta qui fugit. Esse velit mollitia reprehenderit sit ullam.
Magni quo omnis aut deserunt. Eum voluptas ab laudantium nesciunt iure doloremque error. Quia autem consectetur et ullam.
Ipsam sunt omnis ut et neque assumenda. Voluptatem sed optio qui id delectus excepturi voluptatem.
Ex voluptatem ea ipsum. Sequi consequuntur voluptatem est aut et molestias molestias eveniet. Quibusdam odio rem cumque dolorem qui magnam non deleniti. Illo mollitia aperiam ratione ipsa.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...