The TRADE

JUNE 23, 2023

That is the same level as the expected 12-month forward earnings yield across the S&P 500, which has risen by >15% since January. This could shift again the pendulum towards a more defensive positioning in which investors require higher valuation premium to get compensated on risk assets.

Equities 59

Equities Investors Funds Trading 59

Francine Way

JULY 8, 2017

Peaked market valuations: When market cycle peaks or an industry fully matures, it may be advantageous for shareholders to cash out. Business adversity: An economic downturn, the loss of a major customer or the company’s key individual leader, an adverse market / political condition may drive shareholders to other investment alternatives.

M&A 130

M&A Acquisitions Sale Investment 130

Software Equity Group

MARCH 13, 2023

On the surface, things looked rough: the Dow Jones, S&P 500, and the NASDAQ all finished the year with significant losses, with tech stocks hit particularly hard. Median EV/TTM Revenue Multiple Down from 2021’s high of 7.3x, 2022’s median EV/Revenue multiple of 5.6x was only a slight decline from 2020’s 5.7x

M&A 52

M&A Private Equity Equities S&P 52

OfficeHours

JULY 18, 2023

How I bought an apartment, funded business school, and still had fun in the midst of difficult economic times When it comes to timing the market and getting that anticipated bonus you’ve worked hard all year for, I couldn’t have gotten unluckier. I started my career in 2014 as an investment banking analyst in an oil & gas coverage group.

Investment Banking Analyst 130

Investment Banking Analyst Funds Recruitment Investment Banking 130

Sica Fletcher

JUNE 20, 2024

PE firms rely on leveraged buyouts (LBOs) for the lion's share of their deals, which often involve using the acquired company’s assets as collateral to insure the loan used to purchase it. Conversely, when interest rates are high, valuations are supposed to decrease because buyers will try to make up what they are losing to interest.

M&A 52

M&A Insurance Valuation Equities 52

Sica Fletcher

JULY 31, 2024

With such a high level of competition, they face the double-edged sword of higher overall valuations vs. a relatively smaller initial payout as equity becomes an increasingly larger percentage of buyer offers. This has led to very high valuation multiples (~11.5x This has led to very high valuation multiples (~11.5x

M&A 52

M&A Insurance Debt Equities 52

Mergers and Inquisitions

SEPTEMBER 20, 2023

Technical Questions – You could get standard questions about accounting and valuation or VC-specific questions about cap tables, key metrics in your industry, or how to value startups. A: The most important terms relate to economics and control. Q: Which current startup would you invest in?

Capital 59

Capital Valuation Investment Portfolio 59

Sica Fletcher

MAY 29, 2024

2) our team noted unexpected increases in the valuation multiples offered for insurance agencies, as depicted below. Despite years of evidence suggesting that M&A activity decreases in times of economic uncertainty, it appears that the market has evolved to meet the needs of the times.

M&A 52

M&A Insurance Equities S&P 52

Mergers and Inquisitions

APRIL 19, 2023

The metals & mining team’s classification varies based on the bank. Valuation , such as the different multiples used for mining companies and the NAV model in place of the DCF (see below). Sometimes, it’s in the broad “Natural Resources” group, but it could also be in Industrials , Renewables, or even Power & Utilities.

Investment Banking 52

Investment Banking Bank Banking Investment 52

Software Equity Group

NOVEMBER 13, 2023

By aligning your company’s strategies and performance with their evolving priorities, you can enhance your appeal in the competitive landscape of software investments and acquisitions. SaaS companies hoping for a high valuation should aim for 90% or greater gross revenue retention. This creates a baseline for growth.”

Profitability 52

Profitability Private Equity Investors M&A 52

Sica Fletcher

JULY 11, 2024

However, the brokerage's tech stack now handles many of these job functions, which significantly improves the bottom line and increases profitability. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

M&A 52

M&A Insurance Debt Equities 52

InvestmentBank.com

JANUARY 14, 2021

In September 2020, the National Bureau of Economic Research released a working paper including an industry survey citing 900+ VC firms; this paper revealed a consensus that many portfolio companies were performing quite well in the face of Covid-19 and less than 10% were performing at levels that would raise significant concerns [3] [10].

Capital 40

Capital IPO S&P Hospitality 40

FineMark

OCTOBER 17, 2023

Equities and the S&P 500 At the onset of each new year, like clockwork, we’re asked for our near-term view. benchmark equity index, the S&P 500. Consequently, by the end of July 2023, the S&P was up more than 20% for the year. This year was no different.

S&P 52

S&P Investment Portfolio Corporation 52

Mergers and Inquisitions

JULY 31, 2024

The commonalities are that industrial companies serve enterprise customers and governments rather than consumers (with some exceptions, such as airlines) and are very sensitive to broad macro factors and economic conditions. Beyond that, we can say a few things about industrials vs. other verticals within PE.

Private Equity 66

Private Equity Equities Middle Market Debt 66

Mergers and Inquisitions

DECEMBER 4, 2024

No matter the economic climate, you can always bet on sports fans to show up for their favorite teams. This sector is the most different in terms of valuation and technical analysis because of nuances around licensing, player salaries, and different revenue streams.

Investment Banking 105

Investment Banking Bank Banking Investment 105

FineMark

JANUARY 17, 2024

The equity market also noted the Fed’s comments as investors piled back into equities and the S&P 500 finished the year up more than 26%. Contributing to that growth were two significant happenings: America helped rebuild Europe and Japan, triggering economic benefits for our nation, and the largest generation in U.S.

S&P 52

S&P Equities Valuation Investment 52

FineMark

JULY 13, 2023

The stark differences in index performance, specifically the effects of mega-cap technology listings and their disproportionately large weights in the S&P 500, are also worth highlighting. Some of this weightiness can be seen in the performance disparity to date between the S&P 500 and the Dow Jones Industrial Average.

S&P 52

S&P Banking Bank Investment 52

InvestmentBank.com

MAY 26, 2021

Debt Markets Prior to COVID-19, some analysts and debt underwriters encouraged debt issuers to exercise caution after the tenth straight year of economic expansion [1]. Simultaneously, other special situation funds ballooned as institutions sought to hedge against losses amid the new market and economic turmoil.

Capital Raising 52

Capital Raising Capital Debt Private Equity 52

Cooley M&A

FEBRUARY 1, 2024

2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases. [1]

M&A 59

M&A Mergers and Acquisitions Private Equity Equities 59

Cooley M&A

JANUARY 20, 2022

While 2020’s M&A landscape was characterized by whiplash volatility from choppy deal activity in the first half of the year to a surge in volume in the second half, that momentum accelerated in 2021, with no signs of slowing down heading into 2022. on transactions over 2019’s mega?mergers. General trends in life sciences M&A.

M&A 40

M&A Mergers and Acquisitions Pharmaceutical Mergers 40

InvestmentBank.com

MAY 18, 2021

The healthcare sector in the United States is a large driver of economic output. Government funded programs include Medicare, Medicaid, Children’s Health Insurance Program, and the Veterans Health Administration. Over the last year, the biotech industry has seen considerable growth compared to the S&P 500.

Healthcare 40

Healthcare M&A Valuation Hospitality 40