The Entrepreneurial Manager VALUATION OF VENTURE CAPITAL DEALS Bernardo Bertoldi bbertoldi@escp eap.it bbertoldi@escp-eap.it Candid Capital Partners We are a private equity firm that does not add value to its portfolio companies‚ but W i t it fi th t d t dd l t it tf li i b t rather seeks to boost returns through the egregious application of leverage and irresponsible gutting of corporate resources in search of cost savings. Our firm has always been a generalist‚ and our partners have no industry specialties
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landline services under the brand name ‘Connect’ in 2000. It launched CDMA services in 2007 and GSM operations in Punjab in 2010. The HFCL group held 36% in a joint- Valuation Ratios (Consolidated) EPS +/EV / Sales (X) EV / EBITDA (X) 2013E 2013A Negative Negative 1.69 -15.41 Negative Negative - venture with the Videocon group under the name Datacom – this company had licenses in all circles except Punjab. As part of Videocon’s buyout of HFCL’s stake in Datacom (now Videocon
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INTERCOASTAL ELECTRONICS BUDGETING PROCESS 1. Sales budget: 2011 December $400‚000 100‚000 300‚000 January $440‚000 110‚000 330‚000 February $484‚000 121‚000 363‚000 2012 March $532‚400 133‚100 399‚300 First Quarter $1‚456‚400 364‚100 1‚092‚300 Total sales........................ Cash sales* ...................... Sales on account† ........... *25% of total sales. †75% of total sales. 2. Cash receipts budget: 2012 January $110‚000 33‚000 270‚000 $413‚000 February $121‚000 36‚300 297‚000 $454
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Lillian Flloyd Economics 214-D16 March 27‚ 2013 Liberty University Bulls‚ Bear‚ and Golden Calves Chapter Two: Me‚ Myself‚ and Why 1. What is the difference between self-interest and selfishness? Why is this distinction important when considering the competitive market economy as appropriate for society? Self-interest is looking out for your best interest and finding the best possible alternatives that will benefit yourself in the business world. Selfishness is putting
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Share Valuation Valuation Situations 1. Initial Public Offerings (IPOs) An initial public offering is the first sale of shares by a company to the public. The shares then become publicly traded. 2. Management Buy-outs (MBOs) A management buy-out is a form of acquisition in which the existing managers of a company acquire a large part or all of the shares of the company. 3. Management Buy-ins (MBIs) A management buy-in is a form of acquisition in which a manager or management team from
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Oil & Gas Valuation – Quick Reference http://breakingintowallstreet.com Oil & Gas Valuation: Comparable Public Companies & Precedent Transactions Picking a set of comparable companies or precedent transactions for an oil & gas company is very similar to how you would pick them for any other company – here are the differences: 1. Rather than cutting the set by revenue or EBITDA‚ you would instead select the set based on Proved Reserves or Daily Production (in addition to the normal geographic and industry criteria)
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The purpose of DCF-Valuation is to determine the value of a company in terms of its future cash flows. The cash flows are adjusted with certain items (e.g. those not related to company´s core businesses or those with no cash effect) in order to make sure the flows reflect the actually generated cash as good as possible. This document describes DCF valuation in detail and in our valuation model. If you would like to get an overview of valuation in general or practical examples (numerical and graphical)
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Chapter 9‚ Problem 17 Jack Hammer invests in a stock that will pay dividends of $2.00 at the end of the first year; $2.20 at the end of the second year; and $2.40 at the end of the third year. Also‚ he believes that at the end of the third year he will be able to sell the stock for $33. What is the present value of all future benefits if a discount rate of 11 percent is applied? (Round all values to two places to the right of the decimal point.) Present value of a single amount PV = FV x PVIF
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Business valuations are an important issue that is always overlooked by many people. Most people are focused on making profit‚ and other things take the least priority. People will rather buy business magazines about making money and improving sales. They are interested in business opportunities and ventures. Making profit is important‚ but how secure are you with the future? A business valuation shows you what the future looks like. The approach to business valuations depends on your type of organization
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UNIVERSITY OF TORONTO Joseph L. Rotman School of Management RSM332 PROBLEM SET #2 SOLUTIONS 1. (a) Expected returns are: E[RA ] = 0.3 × 0.07 + 0.4 × 0.06 + 0.3 × (−0.08) = 0.021 = 2.1%‚ E[RB ] = 0.3 × 0.14 + 0.4 × (−0.04) + 0.3 × 0.08 = 0.05 = 5%. Variances are: 2 σA = 0.3 × (0.07)2 + 0.4 × (0.06)2 + 0.3 × (0.08)2 − (0.021)2 = 0.004389‚ 2 σB = 0.3 × (0.14)2 + 0.4 × (0.04)2 + 0.3 × (0.08)2 − (0.05)2 = 0.00594. Standard deviations are: √ 0.004389 = 6.625%‚ σA = √ 0.00594 =
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