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Investment Banking 101
Intro
Welcome to our Academy!
Our Founder
IBD 101 Series
Coaching 1:1
Finance 101
CAGR
Present Value
Latest Twelve Months (LTM)
Mean vs. Median
Tax Rates
Time Value of Money
Variance & Standard Deviation
Equity Value
What is Equity value?
Type of Shares
Shares Outstanding
Dilutive of Shares count through Options and Warrants
Q&As
Enterprise Value
What is Enterprise Value?
EV Primer
Why Enterprise Value?
EV to EqV Bridge 101
Debt at Market Value
Minority Interests
Associates
Preferred Stok and Convertible Debt
Capital Leases
Marketable Securities
Pensions - Defined Benefit Plans
Provisions
Other Adjustments
Q&As
Exercices
Advanced Example
Model
Valuation Multiples
What is a Multiple?
Pros & Cons Valuation Multiples
Why Multiples Vary?
Using Valuation Multiples
Alternative Pricing Bases for Multiples
The Effect of Growth on Value (Advanced)
Derivation of Target Multiple Formulas (Advanced)
Q&As
Equity Multiples
What are Equity Multiples?
EPS
Price/Earnings (P/E)
Price/Book Value
Price/Earnings Growth
Dividend Yield
Q&As #1
Q&As #2
Additonal Reading
EV Multiples
EV/Sales
EV/EBITDA
EV/EBIT
EV/NOPLAT
EV/OpFCF
EV/FCF
EV/Invested Capital
EV/Unit of Capacity
Q&As
Additional Reading
Accounting Adjustments (Advanced)
Double Entry Accounts
Accumulated Other Comprehensive Income
Depreciation
Goodwill Write-Down
IFRS Rules Change the Income Statement and Cash Flow Statement
Inventory Accoutning LIFO vs. FIFO
Inventory Accounting Policy Changes
Non-Recurring Items
Growing New Estimates
Cash Flows - US GAAP vs IFRS
Comparable Transaction Analysis
Overview
Selecting which Target Financial Statements to use
Synergies
Price Premium Analysis
Transaction Form
Exercices
Acquisition Comps Model
Comparable Companies Analysis
Overview
Exercices
Trading Comps Model
Mechanics of a Common Trading Comps
Common Pitfalls
Analysis at Various Price (AVP)
AVP Primer
IPO Application Steps
Merger Case Application Steps
WACC
WACC Primer
Cost of Equity
Unlevered Beta
Equity Risk Premium
Country Risk Premium
Small Cap Premium
Cost of Debt
Q&As
Additional Reading
WACC Model
Discounted Cash Flow (DCF)
DCF Primer
Mechanics of DCF
FCF
FCF - Working Capital
Terminal Value
Mid-year Convention
Partial Year 1 Cash Flow Adjustment
Sensitivity Analysis
Footnotes Practises
Common Pitfalls in a DCF
Dividend Discount Model (DDM)
Q&As
Exercices
DCF Model
Additional Reading
Leverage Buyout (LBO)
LBO Primer
LBO Model Steps
Sources and Uses of Funds
Goodwill Calculation
Proforma Opening Balance Sheet
Operating Forecast & Cash Sweep Steps
Debt Schedule
Tax Calculation
Valuation at Exit and Equity IRR
LBO Model Master Step-by-Step
IRR & Value Creation
Exercices
Paper LBO
Case Study #1
Case Study #2
Case Study #3
Private Equity
Private Equity 101
Value Creation
Typical PE Transaction Process Overview
Life in Private Equity
Recruiting Process
Behavioral Interview Tips
Ideal Candidate
Checklist
Research Before Interview
Speak About Previou Deal
Case Study
Merger
Merger Primer
Select the Right Target
Merger Analysis
Relative P/E
Accretion/Dilution Analysis
Synergies to Breakeven
Value Creation
Earnouts
Transaction Fees
Case Studies
Case Study #2
Case Study #3
Q&As
Merger Model - Exercise 1
Merger Model - Exercise 2
M&A Process
Buy-side vs. Sell-side
Buy-side Process
Type of Sell-side Process
Roles and Who Does What?
M&A Process
Information memorandum (IM)
Teaser
Non Disclosure Agreement’ (NDA)
Non Binding Offer (NBO)
Binding Offer (BO)
Share Purchase Agreement (SPA)
Potential Exit Alternatives
IPO Process
Dual Track Process
Additional Reading
Q&As
Fit Prep - IBD Recruitment
IBD Recruitment
IBD Summer Associate Life
Spring, Summer, Graduate, Off-cycle
Application Process
Online Test Providers
Interview Types
Interview Process
Some Tips to Follow During the Interview
Questions to Ask at the End
Asking Feedback after Rejection Response
CV Template
Interview Prep Primer
Industry Specificities
Introduction
Primers - List 100+
Automotive
Airlines
Cheminal
FIG
Food & Beverage
Healthcare
O&G
Pharma & Biotech
Power Utilities & Infrastructure
Tech
Transportation
Exercices
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