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Happy long weekend y’all.

Additional Posts in Investment Banking - IBD
DB ECM - does anyone have a view?
Experience in shareholder services for GS?
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You generally provide a range of valuation since there are nuances into each company and valuation is not an exact science.
Run multiple types of valuation DCF, public comps will likely be the most useful enforcement public companies. You wanna make sure the comps make sense and are tailored to the company you're evaluating.
Anyone who knows anything, P/E is the last thing you would look at. There’s practically 0 comparable basis, plus no one cares about net income as a profitability measure. EV / EBIT/D/A/R/X etc. multiples are standard
R: restructuring and X: extraordinary/NRIs?
Def, comps, precedents, lbo to arrive at EV
subtract net debt to get to equity value
Divide by fully diluted shares outstanding
And arrive at a implied price per share
Put that puppy on a foot ball field and compare with current share price it’s trading at
As far as I have worked in investment research you will always get varying answers based on the model you use, at the end of the day my supervisors and mentors told me to always see what the clients requirements are and to use my judgement to see which model I used is more relevant to the case. You have to run scenarios as well - every model has its own drawbacks. Also never hurts to scan through other analyst perspective but don't concentrate too much on it.
I usually ask chat GPT, smart to upload client financials too
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