Produktbild: Leveraged Buyouts
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Leveraged Buyouts A Practical Guide to Investment Banking and Private Equity. + Website

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

23.12.2013

Verlag

John Wiley & Sons Inc

Seitenzahl

448

Maße (L/B/H)

23,6/15,6/4 cm

Gewicht

673 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-118-67454-3

Beschreibung

Rezension

"Pignataro's step-by-step approach is ideal for anyone trying to learn or hone the analytical skills necessary to model the basic viability of an LBO, from the point of view of the company as well as the investor. He explains valuational concepts and how to capture them in Excel spreadsheets, the latter described down to the level of individual keystrokes.... Leveraged Buyouts is a self-contained course in rudimentary financial modeling (and a crash course in Excel as well). It's a perfect read for anyone wanting to enter the world of investment banking or private equity."
--Investing.com

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

23.12.2013

Verlag

John Wiley & Sons Inc

Seitenzahl

448

Maße (L/B/H)

23,6/15,6/4 cm

Gewicht

673 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-118-67454-3

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: GPSR Kontakt

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  • Produktbild: Leveraged Buyouts
  • Preface xi
     
    The Heinz Case Study xii
     
    How This Book Is Structured xiii
     
    Part One Leveraged Buyout Overview 1
     
    Chapter 1 Leveraged Buyout Theory 3
     
    Cash Availability, Interest, and Debt Pay-Down 3
     
    Operation Improvements 4
     
    Multiple Expansion 4
     
    What Makes Good Leveraged Buyout? 4
     
    Exit Opportunities 5
     
    Is Heinz a Leveraged Buyout? 5
     
    Chapter 2 What Is Value? 7
     
    Book Value 7
     
    Market Value 7
     
    Enterprise Value 8
     
    Multiples 12
     
    Three Core Methods of Valuation 14
     
    Chapter 3 Leveraged Buyout Analysis 19
     
    Purchase Price 19
     
    Sources and Uses of Funds 22
     
    IRR Analysis 33
     
    Part Two Leveraged Buyout Full-Scale Model 49
     
    Chapter 4 Assumptions 51
     
    Purchase Price 57
     
    Sources of Funds 63
     
    Uses of Funds 69
     
    Chapter 5 The Income Statement 75
     
    Revenue 76
     
    Cost of Goods Sold 76
     
    Operating Expenses 77
     
    Other Income 78
     
    Depreciation and Amortization 80
     
    Interest 80
     
    Taxes 81
     
    Nonrecurring and Extraordinary Items 82
     
    Distributions 82
     
    Shares 83
     
    Heinz Income Statement 84
     
    Last Twelve Months (LTM) 108
     
    Income Statement--Projections 116
     
    Chapter 6 The Cash Flow Statement 133
     
    Cash Flow from Operating Activities 133
     
    Cash Flow from Investing Activities 137
     
    Cash Flow from Financing Activities 137
     
    Financial Statement Flows Example 138
     
    Heinz Cash Flow Statement 144
     
    Heinz Last Twelve Months (LTM) Cash Flow 154
     
    Cash Flow Statement Projections 160
     
    Chapter 7 The Balance Sheet 179
     
    Assets 179
     
    Liabilities 182
     
    Heinz Balance Sheet 184
     
    Chapter 8 Balance Sheet Adjustments 199
     
    Goodwill 200
     
    Heinz Balance Sheet Adjustments 208
     
    Chapter 9 Depreciation Schedule 221
     
    Straight-Line Depreciation 222
     
    Accelerated Depreciation 222
     
    Deferred Taxes 227
     
    Projecting Depreciation 231
     
    Projecting Amortization 241
     
    Projecting Deferred Taxes 244
     
    Chapter 10 Working Capital 247
     
    Asset 247
     
    Liability 247
     
    Operating Working Capital 248
     
    Heinz's Operating Working Capital 251
     
    Projecting Operating Working Capital 262
     
    Operating Working Capital and the Cash Flow Statement 271
     
    Chapter 11 Balance Sheet Projections 279
     
    Cash Flow Drives Balance Sheet versus Balance
     
    Sheet Drives Cash Flow 283
     
    Balancing an Unbalanced Balance Sheet 301
     
    Chapter 12 Debt Schedule and Circular References 309
     
    Debt Schedule Structure 309
     
    Modeling the Debt Schedule 310
     
    Circular References 329
     
    Automatic Debt Pay-Downs 337
     
    Basic Switches 339
     
    Finalizing the Model 339
     
    Chapter 13 Leveraged Buyout Returns 351
     
    Exit Value 351
     
    Returns to 3G Capital 355
     
    Multiple Expansion 361
     
    Debt Pay-Down 364
     
    Conclusion 364
     
    Part Three Advanced Leveraged Buyout Techniques 365
     
    Chapter 14 Accelerated Depreciation 367
     
    MACRS 367
     
    Accelerated versus Straight-Line Depreciation 372
     
    Chapter 15 Preferred Securities, Dividends, and Returns to Berkshire Hathaway 377
     
    Preferred Securities 377
     
    Preferred Dividends 378
     
    Returns to Berkshire Hathaway 388
     
    Chapter 16 Debt Covenant Ratios, and Debt Fee Amortization 395
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