Damodaran on Valuation_ Security Analysis for Investment and Corporate Finance ( PDFDrive )
To alleviate thesecond problem, the regression wasrerun without an intercept, with the following results: Not only is this regre ...
Anincrease in expected growthin earnings across firms will result in a higher P/E ratio for the market. Anincreaseinthereturnon ...
ThereisastrongpositiverelationshipbetweenE/Pratiosand T-bondrates,asevidencedbythecorrelationof0.69between thetwovariables.Inadd ...
to correspond to lower P/E ratios and upwards sloping yieldcurves to higherP/E ratios.While at firstsightthismayseemsurprising,t ...
increased.InFigure8.15,wereportontheprice-to-bookratio fortheS&P 500 ononeaxisandthereturnonequityforS&P 500 firmsontheo ...
Countrieswithhigherrealinterestratesshouldhave lower P/E ratios than countries with lower real interest rates. Countrieswith hi ...
A naive comparison of P/E ratios suggests that Japanese stocks, with a P/E ratio of 45.01, are overvalued, while RussianandVenez ...
correlation betweenP/E ratios,interest rates,and dividend yields. Across thesample, P/E ratiosarehigher in countrieswith lower i ...
developed markets.Based on this regression, thepredicted P/E ratios for the countries are shown in the following table: Brazilem ...
Withequitymultiples,wescalethemarketvalueofequityto some measure of equity earnings, book value, or even revenues.The most commo ...
1 While it may seem logical to add back the expenses associatedwithnewoptiongrantstonetincome(especiallyin theaftermathof thenew ...
6 Whilerevenuescanneverbenegative,theycanbezeroand thereareabout 100 firmsinthesamplewithnorevenuesbut withsomemarketvalueforequ ...
CHAPTER 9 Value Multiples Whereas equity multiples focus on the value of equity, enterpriseandfirmvaluemultiplesarebuiltaroundva ...
In addition to two issues we confronted when measuring equity value—howbest to deal with cash and with equity options—there are ...
atanestimatedvalue.Thesamereasoningapplieswithfirm andenterprisevalue.Ifourobjectiveistoestimatethetotal marketvalueofafirm,wesh ...
5 percent holding in a subsidiary, we should be adding 5 percentofthecompany’sdebtandcashto thedebtandcashthatweusetocomputeente ...
computation (with debtand cash valuesobtained from the parent company’s consolidated statements): The first additional term in t ...
for a narrow definitionof debtwhere weconsidered only interestbearingdebtandleasecommitments.Ingoingfrom firmvaluetoequityvalue, ...
Seville Televisionis a publicly traded firmwith a market value of equity of $600 million. LatinWorksisaprivatefirmwithanestimat ...
Note that we are usingthe market value of equity of the consolidatedsubsidiary;ifithadbeenaprivatebusiness,we would have had to ...
«
23
24
25
26
27
28
29
30
31
32
»
Free download pdf