Musings on Markets

FEBRUARY 12, 2022

I must admit I was surprised by my own valuations, since, given the low riskfree rates prevailing at the time, only one stock (Apple) looked significant over valued. Clearly, much has happened since these valuations. For the latter, I am reporting on the trailing 12-month numbers, to ensure that I have the calendar year numbers.)

Valuation 98

Valuation Profit and Loss Numbers Advertising 98

Musings on Markets

DECEMBER 10, 2023

Of course, and with small businesses, especially those built around personal services (a doctor or plumber’s practice), it is part of the valuation process, where the key person is valued or at least priced and incorporated into valuation. Who is a key person?

Valuation 113

Valuation Profit and Loss Entertainment Investments 113

PYMNTS

APRIL 8, 2019

The latest estimates from the Small Business Administration (SBA) peg the number of new SMBs at 414,000 each year, spurring job creation and economic growth for the country, with millennial entrepreneurs at the helm. Yet, once a company starts to churn a profit, business owners rarely consider their strategy of an eventual exit or sale.

Profit and Loss 111

Profit and Loss Accounting Financial Data Valuation 111

PYMNTS

APRIL 16, 2020

The world of high fashion is starting to look like a fire sale. For example, Thinknum , which tracks eCommerce retail, found that in January, Lululemon had 1,060 items on sale. By the end of the count of items on sale had dropped 34 percent. According to Edited , the number of new styles posted by U.S. In the U.K.,

Retail 58

Retail Profit and Loss Valuation Sales 58

PYMNTS

DECEMBER 24, 2020

Here are a few of the more noteworthy ones, listed in order of valuation at the time of going public: 1. The company also reported a $23 million profit for the second quarter — its first black ink in history. For instance, Target reported a 155 percent jump in digital sales during the third quarter. Airbnb ($47 billion).

Profit and Loss 92

Profit and Loss Valuation eCommerce Planning 92

PYMNTS

MARCH 13, 2019

The company’s valuation, share price and timeline have yet to be determined, but if all goes well, Jumia will be the first African tech startup to list on a major global exchange. We’re really focused on growing our existing business, leadership position, number of sellers and consumer adoption in those markets,” Poignonnec said.

eCommerce 51

eCommerce Profit and Loss Startups Valuation 51

Musings on Markets

DECEMBER 2, 2020

Setting the Table As with any valuation, the first step in valuing Airbnb is trying to understand its history and its business model, including how it has navigated the economic consequences of the COVID. In addition, growth in the experiences business will also push this metric upwards, since Airbnb keeps a 20% share of those revenues.

Profit and Loss 52

Profit and Loss Valuation Investments Numbers 52

PYMNTS

MAY 10, 2019

Last year, noted the WSJ , the valuation had been rumored to be $120 billion, if and when the ride-hailing giant came to market. Now, that number is closer to $82 billion. Losses, though, are losses across that model, evidenced by the latest showings for Lyft, which logged $1.1 However, those conduits may be fickle.

Profit and Loss 61

Profit and Loss Transportation Healthcare Valuation 61

Musings on Markets

NOVEMBER 1, 2023

As the price dropped below $200 today (October 30,2023), I decided that it was time for me to revisit and revalue the company, taking into account the news, financial and other, that has come out since my last valuation in January 2023, and to understand the dueling stories that are emerging about the company.

Valuation 114

Valuation Profit and Loss Numbers Sales 114

Musings on Markets

JUNE 23, 2023

From 2001 to 2020, revenue growth at semiconductor businesses has dropped to single digits, as higher demand for chips in new uses has been offset by loss of pricing power, and declining chip prices. Sustained Profitability, with Cycles! While revenue growth has picked up again in the last three years, the business has matured.

Valuation 91

Valuation Profit and Loss Investments Marketing 91

Musings on Markets

JANUARY 29, 2021

Short Sales and Squeezes I know that you want to get to the GameStop story quickly, but at the risk of boring or perhaps even insulting you, I want to lay the groundwork by talking about the mechanics of a short sale as well as how short sellers can sometimes get squeezed.

Profit and Loss 52

Profit and Loss Valuation Investments Sales 52

PYMNTS

FEBRUARY 8, 2019

By The Numbers. Grubhub reported a net loss of $5.2 DoorDash raised $250 million in new funding in 2018, and quadrupled its valuation to $4 billion. Postmates has claimed that it completes 5 million deliveries per month, and is reportedly expected to record $400 million in revenue in 2018 on food sales of $1.2

Profit and Loss 59

Profit and Loss Forecasting Valuation Budgeting 59

Musings on Markets

JANUARY 9, 2021

To illustrate, consider a practice in valuation, where analysts are trained to add a small cap premium to discount rates for smaller companies, on the intuition that they are riskier than larger companies. In closing, I also want to dispense with the notion that data is objective and that numbers-focused people have no bias.

Valuation 52

Valuation Currencies Numbers Corporate Finance 52

PYMNTS

FEBRUARY 8, 2019

By The Numbers. Grubhub reported a net loss of $5.2 DoorDash raised $250 million in new funding in 2018 and quadrupled its valuation to $4 billion. Postmates claims that it completes 5 million deliveries per month and is reportedly expected to record $400 million in revenue in 2018 on food sales of $1.2 million or $.06

Profit and Loss 40

Profit and Loss Forecasting Valuation Budgeting 40

Barry Ritholtz

DECEMBER 5, 2023

’cause then I figure I could always be employed either managing the numbers or doing law and get those two degrees. And I got to see firsthand what Bain was doing in strategic consulting and understand their view of business separate from the numbers. And Bain was kind enough to offer me a job to facilitate.

Mergers and Acquisitions (M&A) 69

Mergers and Acquisitions (M&A) Investments Valuation Numbers 69

Musings on Markets

JANUARY 5, 2024

The numbers that I computed opened my eyes to how much perspective on the high, low, and typical values, i.e., the distribution of margins, helped in valuing the company, and how little information there was available, at least at that time, on this dimension.

Valuation 98

Valuation Financial Analysis Analyzing Data Profit and Loss 98

Musings on Markets

SEPTEMBER 19, 2023

Customers get the time-savings and convenience from having grocery shopping (and delivery, if chosen) done for them, but they pay in the form on both delivery fees and a service charge of 5-10% of the bill, depending on the store picked and the number of items in the basket.

Profit and Loss 102

Profit and Loss Valuation Advertising Investments 102

Musings on Markets

OCTOBER 6, 2023

The resulting debate among accountants about how to bring intangibles on to the books has spilled over into valuation practice, and many appraisers and analysts are wrongly, in my view, letting the accounting debate affect how they value companies. So, how far has accounting come in bringing intangible assets on to balance sheets?

Valuation 104

Valuation Profit and Loss Accounting Investments 104

Musings on Markets

FEBRUARY 10, 2021

Having said that, though, it is worth noting that this is where the consensus ends, since there are deep divides on how this hurdle rate should be computed, with companies diverging and following three broad paths to get that number: 1. The third is currency, with hurdle rates, for any given project, varying across currencies.

Hurdle Rate 52

Hurdle Rate Currencies Investments Valuation 52

Musings on Markets

JULY 22, 2021

Zomato, an Indian online food-delivery company, was opened up to public market investors on July 14, 2021, and its market debut is being watched for clues by a number of other online ventures in India, waiting in the wings to go public.

Marketing 86

Marketing Valuation Profit and Loss Advertising 86

Musings on Markets

OCTOBER 4, 2021

In this post, I will look at the levers that drive Paytm's value, and you can make your judgments on where you think this offering will lead in terms of valuation and pricing. As Paytm's product suite has expanded, its numbers reflect both its strengths and weaknesses, with four key statistics tracking its expansion.

Valuation 72

Valuation Profit and Loss Investments Numbers 72

CFO News Room

DECEMBER 23, 2022

While RIA M&A activity has been red hot during the past couple of years, a survey suggests that advisors are expecting lower valuations in 2023. A review of financial planning actions, from tax-loss harvesting to charitable giving, that have a December 31 deadline. He can be reached at [email protected].

Mergers and Acquisitions (M&A) 130

Mergers and Acquisitions (M&A) Planning Valuation Securities 130

VCFO

MARCH 17, 2023

That’s because inventory is a key driver of several profit & loss (P&L) statement components, from revenue all the way down to net profit. How much is being charged to cost of sales? What is the percentage of the cost of sales to revenue? How much inventory is being carried on the balance sheet?

Manufacturing 73

Manufacturing Benchmarking Forecasting Profit and Loss 73

Musings on Markets

OCTOBER 19, 2021

It extends into materiality, by reframing that concept in terms of value, rather than profits, and connecting it to disclosure, with disclosure requirements increasing proportionately with the value effect. I don’t think so, but you can see why the company was tempted to go with that inflated number to push a “big market” narrative.

Profit and Loss 70

Profit and Loss Accounting Numbers IFRS 70

PYMNTS

DECEMBER 26, 2018

“That said, longer term, Chinese companies have benefited from US listings, with the validation of more institutional shareholders and higher valuations.” . The high number of listings did not necessarily translate into strong performance, as investors saw losses of about 16 percent on those stocks.

Profit and Loss 53

Profit and Loss Entertainment Valuation Marketing 53

PYMNTS

APRIL 14, 2017

The firm got $600 million in the latest funding round, giving it an implied valuation of $7.5 However, raw enthusiasm for the phone itself seems to be driving out-of-the-ballpark pre-order numbers, with or without Bixby on board. The pre-order numbers are rolling in, and they are very encouraging. Bixby On Hold.

Profit and Loss 40

Profit and Loss Construction Valuation Sales 40

Barry Ritholtz

DECEMBER 14, 2022

I was thinking any number of things and mostly that I didn’t really know what I wanted to be when I grew up, but I was not kind of at all informed by, you know, gender norms that people asked me a lot about now, in particular how do you know a woman, how did you think about ending up in this thing? MCCARTHY: A 100 percent.

Mergers and Acquisitions (M&A) 60

Mergers and Acquisitions (M&A) Investments Construction Concentration 60

CFO News Room

FEBRUARY 5, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Marketing 130

Marketing Investments Auditing Restructuring 130

Musings on Markets

FEBRUARY 4, 2023

Given the historical roots of the biggest Indian family groups, the Adani Group has been a recent entrant, not making the top ten list (in terms of either operating metrics like revenues or market-based numbers like market capitalization or enterprise value) as recently as ten years ago, and barely making the top ten list five or six years ago.

Investments 100

Investments Valuation Auditing Restructuring 100

CFO News Room

JANUARY 8, 2023

Free cash flow is one of the most dangerous terms in finance, and I am astonished by how it can be bent to mean whatever investors or managers want it to, and used to advance their sales pitches. and which ones to include (cash acquisitions, foreign exchange gains or losses etc.).

Valuation 130

Valuation Profit and Loss Forecasting Investments 130

Musings on Markets

OCTOBER 25, 2022

Free cash flow is one of the most dangerous terms in finance, and I am astonished by how it can be bent to mean whatever investors or managers want it to, and used to advance their sales pitches. and which ones to include (cash acquisitions, foreign exchange gains or losses etc.) What is Free cash flow (FCF)?

Valuation 92

Valuation Profit and Loss Forecasting Investments 92

PYMNTS

DECEMBER 7, 2016

The valuation game may be stirring anew. The most recent equity raise by Stripe, the payments processor, at $150 million, has given the firm an implied valuation of $9.2 billion, and so the implied price-to-sales multiple dictated by the latest implied market cap is nine to 10 times. Pun intended). What about the public markets?

Valuation 67

Valuation Profit and Loss Investments Marketing 67

Barry Ritholtz

MARCH 21, 2023

RITHOLTZ: So it can be price-to-sales — RITHOLTZ: Yeah. You can use this in a number of ways. And that’s a pretty good number. ASNESS: Some of the things like betting against beta, quality or profitability, carry strategies were additions over time. They grew more in terms of earnings, sales, cash flows.

Profit and Loss 64

Profit and Loss Valuation Forecasting Investments 64

Barry Ritholtz

DECEMBER 12, 2023

And because my mother and grandmother were looking at these trying to figure out what was going on, I was curious about the sea of numbers. They announced a $640 million loss and ouch. And 00:28:03 [Speaker Changed] That’s an amazing number. The visibility on earnings they grew but they stayed profitable as, as they grew.

Benchmarking 103

Benchmarking Concentration Investments Profit and Loss 103

Barry Ritholtz

MARCH 12, 2024

So a lot of the headline names, you see a lot of the stories you see about, about the financial crisis, a significant number of, of those investors we were helping in security selection, modeling, and analytics. So in mortgages, the borrower can stop paying maybe a year to two years before the lenders actually book a loss.

Profit and Loss 56

Profit and Loss Investments Marketing Securities 56

PYMNTS

JUNE 6, 2016

After employing a number of moves earlier in the fight to disorient Foreman and force him to waste his power on punches that missed their mark, Ali lured Foreman into attacking him against the ropes so as to tire him out. For Uber and Lyft, this is pure profit to the bottom line that keeps drivers happy by giving them more work.

Retail 40

Retail Leverage Numbers Profit and Loss 40

PYMNTS

MARCH 7, 2016

Lately, though, they’re probably tossing and turning over the difficulties with raising capital coupled with the simultaneous descent of their venture’s valuations. And whether, if one and two come true, there’s a business model underneath all of it to profit from. And paying for stuff was a breeze, too.

Banking 46

Banking Profit and Loss Retail Manufacturing 46