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  2. Mod Note (Andy)- This AMA was originally posted last year but @SeekingAlpha180 said he can still take questions from you (+new questions about his transition) 3/7/16 update: WSO Monkeys- I just moved to a top MM IB doing M&A in one of the main sectors ...

    61 comments7 Mar 2016 -

  3. Has anyone had any success breaking into investment banking after working as a valuation analyst? How long should I stick with this job before looking for exit opps? Would I have a better shot trying to get into a top business school and then coming in as ...

    57 comments22 Jan 2018 -

  4. Hey everyone, I just thought that I'd share a great resource for information on the basics of valuing metal and mining companies. The pdf doesn't cover everything by all means but it is a quick beginning step for one to build out their model. It ...

    36 comments12 Apr 2019 -

  5. To any/all who can advise on a question I have regarding the following, I'd have much gratitude: I am working out a Valuation model for a theoretical Steel MFG outfit, using a Free Cash Flow- NPV approach to find a value for the firm. I have mocked u ...

    108 comments9 Sep 2017 -

  6. Maybe its just me (since I have selective reading, could very well be true) but when accounting firms and different groups within accounting firms are brought up "Business Valuations" is always asked about. So I thought would do an AMA on the my ...

    52 comments10 Nov 2014 -

  7. Hi all, this is pretty general, I'm looking to soak some WSO wisdom on making an impact at entry-level at a business valuation/financial advisory outfit, straight out of college. Much obliged and TIA. entry level financial advisory Entry level positi ...

    32 comments13 Dec 2016 -

  8. I'm doing a valuation on a privately held company with a negative book value of equity. The equity is negative because the company is in its early years, but has already distributed far more than its initial contribution+earnings. The ability to make ...

    21 comments10 Aug 2012 -

  9. I'm analyzing auto dealerships and am not sure exactly how to think about them in terms of comparability / valuations due to the floor plan financing aspect of dealerships. For those who don't know, floor plan financing is basically like a revol ...

    15 comments2 May 2014 -

  10. Hi guys, So basically, I have to do a DCF valuation for a class and have been assigned the industrials or energy sectors. Her definition of Industrials is really broad, but it includes a variety of companies from chemicals, materials, automanufacturers, u ...

    17 comments3 Jan 2012 -

  11. Business Valuation vs. Audit as foundation to run a business

    Corporate Finance, Development and Strategy

    If my end goal is to run a small business, what would be a better foundation-a few years in audit or a few years in business valuation? I would assume that audit would teach one more about the accounting principles that are involved while valuation would ...

    6 comments1 Jun 2017 -

  12. Comparable

    Investment Banking

    Hi everybody, I working in a low-middle market boutique and my MD told me that when performing a comparable transaction analysis: don't go further 2 years before. However, the last fairness opinion I looked at, GS performed an analysis going until 6- ...

    5 comments7 Jul 2015 -

  13. How does one value a car-park?

    Investment Banking

    How does one value a car-park? Is it just via the standard mix of comps and DCF? If so, what are the key metrics that drive value, and what are some of the multiples used? I'm assuming drivers of value would be: size of carpark, price per spot, occup ...

    5 comments5 Jul 2012 -

  14. PE FIRM in sights

    Private Equity

    hello monkeys, i am an engineering student (no finance background) and will be doing an interview soon with a PE firm. could you please recommend a book or two that covers the type of modeling that is needed in PE. I cant afford to do the Wall Street Prep ...

    5 comments27 Jan 2012 -

  15. How would y'all value a startup apparel business. Primarily web-based. ~$60k in LTM revenue. Looking for funding, trying to establish a realistic valuation. Likely Friends and Family or Angels, not VC's at this stage. Help! business valuation in ...

    4 comments17 Aug 2015 -

  16. Hey Guys...this might be a bit redundant and similar to other postings, but I have a few general questions and would appreciate your responses as experienced professionals: I have a interview coming up with Grant Thornton for a Business Valuation Associat ...

    4 comments21 Mar 2017 -

  17. cipits's blog I noticed that paypal raised 3 series of funds back in 1999. Does anybody know where i can get the valuation or at least the multiples? i tried factset but no luck. help will be greatly appreciated thanks. business valuation Blog ...

    4 comments8 Mar 2012 -

  18. I just finished my fourth and final CPA test. How I should position the CPA on my resume in the case that I do pass? I am ultimately looking to be in equity research but would value a position in valuation or something similar closer to the accounting end ...

    4 comments3 Jun 2014 -

  19. Hey guys. I'm not in corporate finance, so this is kind of just a side thing I'm curious about. I asked my IBD buddy but his response was "I'm a banker, all I care about is profits and revenue, I could give two shits about book value&q ...

    4 comments5 Jan 2013 -

  20. Has anyone heard of the accredited valuation analyst (AVA) certification offered by the National Association of Certified Valuators and Analysts (NACVA)? Here's the link: http://www.nacva.com/certifications/c_ava.asp I'm at a boutique Silicon Va ...

    4 comments13 Nov 2012 -

  21. Excel football field template

    Investment Banking

    Has anyone found online? Excel business valuation football field graph ...

    4 comments31 Jul 2012 -

  22. RSM: Exit Opportunities, Worth it?

    Management Consulting

    Hi WSO, I was recently offered a position with RSM in their Financial Advisory Consulting Services as a BVal Associate (not in NY). The hours are 60-65 during business season (pairs with auditors for internal business valuation) then more relaxed afterwar ...

    2 comments28 Oct 2018 -

  23. I just finished my fourth and final CPA test. How I should position the CPA on my resume in the case that I do pass? I am ultimately looking to be in equity research but would value a position in valuation or something similarly close to the accounting en ...

    2 comments3 Jun 2014 -

  24. Another P/BV question

    Investment Banking

    Hi, I would appreciate it if someone could help me with the following- I want to calculate P/BV, P/Assets etc. multiples for a bank whose equity is composed from common and preferred shares. The issue is that preferred shares are not listed so there is no ...

    2 comments4 Jan 2013 -

  25. Title. What are places, besides the Big 4/ HLHZ / Duff &Phelps that have a financial advisory/valuation arm? Basically, I've realized that I am mostly interested in accounting, but also want a good amount of financial modeling /NPV analysis, and ...

    2 comments7 Nov 2010 -

  26. Valuation final step

    Investment Banking

    Hi Guys, I am confused as to why you would subtract net debt from Enterprise value to get to equity value. What does Enterprise value really mean as compared to Invested Capital? Also, in some references, only excess cash is subtracted instead of the enti ...

    2 comments22 Aug 2010 -

  27. Business plan involves future revenues which are already based on investment from investors, so valuation based on DCF should be post-money valuation? I am confused because usually if you perform valuation before investment it is pre-money valuation and t ...

    1 comment1 Nov 2018 -

  28. Hi all, For a little bit of background, I have now been out of school for one year and have been working as a valuation consultant (not big-4 but still a national firm). In this time I have learned a lot, but have also realized that I would be much happie ...

    1 comment30 May 2018 -

  29. What is a typical starting salary+bonus (if any) for a b-val associate at a big4/Middle market accounting firm (BDO,GT,RSM,etc)- either in major cities like NYC /SF/CH or smaller markets? Also, what are the hours like during busy season? Better of worse t ...

    1 comment9 Dec 2017 -

  30. I've read on this site that Big 4 Valuation projects can be highly variable. I'm trying to determine how to get on the more complex projects to gain experience and increase my various exit opps, Thanks business valuation big 4 advisory 1st job h ...

    9 Sep 2016 -

  31. Hi All, I'm currently doing PE and hedge fund financial / regulatory reporting (operations) for one of the major US Banks. I have infrequent interaction with portfolio managers and investment teams that select and analyze portfolio investments (mainl ...

    14 Mar 2016 -

  32. Although I happen to be a late entrant in this blog, WSO for years have popped up in my internet search engine activities on finance keywords in the past. I have amply benefited from the WSO discussions and hence wish to bring something valuable to the ta ...

    1 comment16 Jun 2015 -

  33. Is the F500 Corporate Finance----> Valuation FT move possible?

    Corporate Finance, Development and Strategy

    Hey Everyone, Was just curious how possible was it to break into a Valuation Group full time (i.e: Duff & Phelps, Big 4, etc.) from a F500 background (internships). Looking at what valuation does I am trying to keep it as a possible option but I don&# ...

    1 comment12 Aug 2014 -

  34. Intellectual Property Finance Career

    Management Consulting

    I will be starting with a Big 4 firm in their valuation group and was approached by a partner to consider looking into the firm's intellectual property practice (I have a background in electrical engineering and worked as a research analyst with a sm ...

    29 Jul 2014 -

  35. I am trying to find the value if outstanding derivatives on a company's financial statements? If they are not specifically called out on the statements (I was expecting to see hedges listed on the balance sheet) or listed in the notes where else coul ...

    27 May 2014 -

  36. P/E & P/B vs ROE

    Sales and Trading

    Hello! I'm trying to valuation a company that makes aluminum capacitors (6997 JT Equity). In case you don't know what they are, capacitors are a kind of electronic component used in basically every electronic device. I need to figure out what va ...

    1 Aug 2012 -

  37. All, One of my interviews is requiring me to value a fictitious company. They give me the Income and Balance Sheet for Yr 1. Its a very basic statement with Sales, COGS, OPEX and NI and CASH, AR, INV, PPE, AP, and Debt. No Dep or Int They basically projec ...

    15 Feb 2012 -

  38. Struggling with the proper way to capture associate and / or unconsolidated JV income in a DCF. Our standard model captures operating income and free cash items, but does not offer a sensible place to insert this 'dividend' stream. Reverse quest ...

    1 comment26 May 2011 -

  39. Thoughts of Valuation Firms?

    Other Industries

    Does anyone know of rankings for Valuation firms? I have had trouble finding information from non-biased sources. All I have really heard is that it's Houlihan and everyone else. Is this correct? I have an offer at Deloitte and an in at SRR. Any info ...

    1 comment30 Nov 2010 -