I was wondering if some one could guide me onare built at a .
- Is the data pulled from financial reports or is it taken directly from CapitalIQ, Factset, etc ?
- What all has to be done to scrub the comps ? Are steps mentioned below all that is needed ?
- Normalizing Earnings (Adding one off / restructuring expenses and subtracting one off or non recurring gains )
- Adjusting for different financial periods(31st March vs 31st December)
-Converting information to LTM
-Adjusting Enterprise Value ( ) by removing the expense or income related to under or over funded pensions
-Value Employee Stock Options & Preferred Stock
- Adjust from Strategic Vs Financial Investments
- Are the froward EPS Estimates (2008E, 2009E, etc) an average of those obtained from few brokerage reports, or concensus analyst estimates from reuters or bloomberg ?
- Are there any other multiples included in the comps other than : P/E, EV/Sales, EV/EBITDA, EV/EBIT Price/BV, ROE,5 year CAGR, PEG, etc
- Do analysts in Industry groups usually have a set of comps ready to be used in a pitch ? Otherwise..How long do comps take to build on average ?
- ? Are they taken directly from factset, dealogic, bloomberg or CapitalIQ ?
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