Damodaran on Valuation_ Security Analysis for Investment and Corporate Finance ( PDFDrive )
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 ...
firmorenterprisevalue,themeasuresofearningsthatweuse havetorelatetotheentirefirm.Threemeasuresofoperating earnings are potential ...
If we choose to leave the value of minority holdings in enterprisevalue(asmanyanalystsdo),wehavetocountthe proportionate share o ...
Book Value Measure Value Measure Bookvalueof capital=Book valueofequity+Bookvalueof debt Firmvalue =Marketvalue ofequity+Marketv ...
Theestimatedmarketvalueofminorityholdingsin other firms should be subtracted from the market valueofequitytoarriveattheenterpri ...
Enterprisevaluemultiples,liketheequitymultiplesthatwe examinedinthepreceding chapter,havewide ranges,with somefirmstradingatextr ...
withtheaverageandmedianbutalsoincludingthe10thand 90th percentilesof thedistribution.(Chapter 8 reported on January 2005 numbers ...
multiplescannotbe computedfor thesefirms, thereis less potential for bias with EBITDA multiples than with P/E ratios. This is es ...
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