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Discounting negative free cash flows with different discounting rate than positive FCFs
I am valuing a company with significant negative free cash flows that then turn positive, may negative again and positive again. I discount the cash flows to get the value. I pretty sure that the distribution around these numbers is skewed towards losses, and if I should put aside significant...
Valuation Q | EV proxy
Hi all, I would like to know how to get the EV associated to revenues in one country, using the Revenue split by country, and the EBITDA Margin (ideally would like to have the EBITDA split by country but I don’t) Current info available: - Total EBITDA by Business segment - Revenue Split by Country...
Can you do well on a case competition with teammates working remotely?
Hi all! Long time lurker, first time poster. I have signed up for the Asian Investment Banking Conference this year in HK where HSBC is sponsoring both the conference and the associated case competitions. My classmates and I have been planning to compete in a team of 4 but they had to drop out due...
Forward EBITDA vs. LTM
When valuing a company through the comparables methodology, why do we apply the transaction multiple result to LTM EBITDA and trading multiples result to forward EBITDA?
Different forms of Investment banking
If M&A , PE , LevFin, Restructuring are different types of Investment banking, then Sales and trading, equity research etc come under what? Also, could anyone further elaborate the different verticals, because I have limited knowledge in it?
Technical Modelling Question on Debt Amortization
Hi fellow monkeys - I am currently completing a case as a second round interview for a boutique IB in Chicago. The case is basically projecting cash flows for a widget company. My main problem comes in with debt amortization. In the case they say: Year 1 interest expense: $200,000 Annual interest...
DCF Change in Working Capital
Hi guys, Hope you are well, could someone please explain why change in working capital is so important in DCF models? Is it because it tells you the funds a company needs for the day-to-day core operations of a company. Shouldn't it be quite consistent? Thank you for your help in advance.
M&A 3 statement model, DCF and Comps downloads?
Hi guys, I have an M&A interview coming up and need to sharpen my modelling skillz again. I used to search bar in the discussion and couldn't find any links to download some free DCF , 3 statement and comps models to practice with. Could anyone PM me or send me a link to some free downloads? It...
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