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The Dividend Discount Model (DDM): The Black Sheep of Valuation?

Mergers and Inquisitions

It can be useful for certain companies, such as power and utility firms and midstream (pipeline) operators in oil & gas … …but it’s also much harder to set up and use than a standard DCF. The basic set of steps looks like this: Step 1: Forecast Revenue and Expenses This is the same as in any other 3-statement model or DCF.

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Project Finance vs. Corporate Finance: Careers, Recruiting, Financial Modeling, and More

Mergers and Inquisitions

Sectors within infrastructure include utilities (gas, electric, and water distribution), transportation (airports, roads, bridges, rail, etc.), There are usually supporting schedules for the CapEx, Debt Service, Reserves, and other elements, but these are separate from the financial statements.