Valuation

Hey guys- any recommendations on the best desks for building a good skillset in valuation, modelling, credit analysis (or really, any of the skills that IBD/ER folks use)? I'll be interning at a BB in S&T but would love to cast my scope as wide as possible.

Obviously I'm still really interested in S&T, but thought it could be nice to get some exposure on the fundamental side as well and learn the skillset of IBD/ER folks. Any ideas of specific desks to shadow or reach out to? 

Hi, everyone! I have a question regarding how Venture Capitalists value startups.

As I am starting to prepare myself for entering VC, I want to know more about startup valuation. I assume DCF models will be useless, so how are venture capitalists doing it? Is it through comps valuation or precedent transactions? 

Thanks!

Hi  guys,

I have an interview question for you:

Could you please advise me on high to  value a  company which has high debt?  Please mention  which multiples you are going to use into your valuation and why.

Thank you in advance

I am a sophomore at a semi-target school and I am applying to a student run investment group. I have had my toes dipped into the finance world for about a year or two now, but when it comes to understanding the process of valuing a stock in order to use it as the stock to pitch, I am clueless. I have spent considerable time studying real estate finance and building out RE models but that is not going to help me here. Does anyone have some basic guidance to help me understand how to pick a stock that won't get me laughed out the interview? 

I am looking for Healthcare specific accounting questions or interview questions to consider for a healthcare IB role.  

Basically, other than the general valuation methodologies and other general IB questions. What should I be prepared for a technical interview? 

For example, for software companies is important to adjust EBITDA for coding expenses that are capitalized rather than expensed. Something similar for Healthcare? Most popular multiples that are used? Unusual valuation details that I should be aware of?  Accounting details that I need to be aware of? 

Hi guys,

Why would you value a company based on EV / EBIT as opposed to EV / EBITDA - Capex? You would account for capital intensity in both cases but in which cases would you use one vs the other? 

Thank you!

What might you expect to find when you value an oil and gas company verses Facebook?

The main difference that comes to mind is that w oil and gas the primary model used in valuation is an NAV, net asset valuation analysis. Its basically a very detailed DCF analysis w specific info on selected oil and gas reserves.

I want some clarity regarding the treatment of Interest expense in the Cash Flow statement. I'm not able to get a satisfactory understanding on the same.

Let me just break down my doubt into two parts-

1. Why is interest expense added back to PBT in Cash flow from operations?
   My Understanding- Since we have adjusted interest expense which is a non-operating expense in P&L, therefore we need to add back to PAT in the cash flow from operations to get the real operating cash flow. Simultaneously, deduct interest expense from Cash flow from financing.

Hello everybody!

I'm writing a thesis about Facebook's valuation over time.
I want to build a DCF using the POV of a person who wanted to invest in the IPO (2012) just to see how a sensitivity table would have looked like.

Is there a way I can find analysts' past estimates (even for just revenues) at that point in time?

Thank you so much

Does anybody know how to properly value health insurance companies? Trying to build a model for UNH but getting caught up in how different the health insurance income statements are. Any insight would be helpful.