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Leveraged buyouts (LBOs) are innovative and sometimes controversial transactions. Loading a target company with the debt used to acquire it requires careful judgement, and getting the balance right between debt-load and future performance can be a demanding challenge. The financial analyst's role therefore sits at the heart of a successful leveraged buyout. It is his or her analysis of a target company and a prospective LBO which lays the foundation for a viable deal - or alerts parties to potential problems.
This book assists financial analysts by explaining both the principles involved in leveraged buyouts, as well as detailing the ins and outs of putting together an industry-standard LBO analysis.
Written by financial expert David Pilger, in lucid and accessible English it takes readers through:
- the purpose, advantages, risks and outcomes of LBOs
- the typical players in an LBO deal
- step-by-step instructions on building an LBO analysis in Excel: from sources of funds, through income statements, cost structure, interest, EBITDA, cash flow, debt paydown and returns
Eminently practical and authoritative, this is an indispensable guide for any finance professional or student looking to master a vital area of modern finance. By understanding the techniques and principles underlying LBO analysis, and by working through the model in this book, readers will acquire a deeper understanding of the LBO investor's perspective - and be able to use these techniques as a practitioner in the financial industry.
This book assists financial analysts by explaining both the principles involved in leveraged buyouts, as well as detailing the ins and outs of putting together an industry-standard LBO analysis.
Written by financial expert David Pilger, in lucid and accessible English it takes readers through:
- the purpose, advantages, risks and outcomes of LBOs
- the typical players in an LBO deal
- step-by-step instructions on building an LBO analysis in Excel: from sources of funds, through income statements, cost structure, interest, EBITDA, cash flow, debt paydown and returns
Eminently practical and authoritative, this is an indispensable guide for any finance professional or student looking to master a vital area of modern finance. By understanding the techniques and principles underlying LBO analysis, and by working through the model in this book, readers will acquire a deeper understanding of the LBO investor's perspective - and be able to use these techniques as a practitioner in the financial industry.
Leveraged buyouts (LBOs) are innovative and sometimes controversial transactions. Loading a target company with the debt used to acquire it requires careful judgement, and getting the balance right between debt-load and future performance can be a demanding challenge. The financial analyst's role therefore sits at the heart of a successful leveraged buyout. It is his or her analysis of a target company and a prospective LBO which lays the foundation for a viable deal - or alerts parties to potential problems.
This book assists financial analysts by explaining both the principles involved in leveraged buyouts, as well as detailing the ins and outs of putting together an industry-standard LBO analysis.
Written by financial expert David Pilger, in lucid and accessible English it takes readers through:
- the purpose, advantages, risks and outcomes of LBOs
- the typical players in an LBO deal
- step-by-step instructions on building an LBO analysis in Excel: from sources of funds, through income statements, cost structure, interest, EBITDA, cash flow, debt paydown and returns
Eminently practical and authoritative, this is an indispensable guide for any finance professional or student looking to master a vital area of modern finance. By understanding the techniques and principles underlying LBO analysis, and by working through the model in this book, readers will acquire a deeper understanding of the LBO investor's perspective - and be able to use these techniques as a practitioner in the financial industry.
This book assists financial analysts by explaining both the principles involved in leveraged buyouts, as well as detailing the ins and outs of putting together an industry-standard LBO analysis.
Written by financial expert David Pilger, in lucid and accessible English it takes readers through:
- the purpose, advantages, risks and outcomes of LBOs
- the typical players in an LBO deal
- step-by-step instructions on building an LBO analysis in Excel: from sources of funds, through income statements, cost structure, interest, EBITDA, cash flow, debt paydown and returns
Eminently practical and authoritative, this is an indispensable guide for any finance professional or student looking to master a vital area of modern finance. By understanding the techniques and principles underlying LBO analysis, and by working through the model in this book, readers will acquire a deeper understanding of the LBO investor's perspective - and be able to use these techniques as a practitioner in the financial industry.
Über den Autor
David Pilger
Inhaltsverzeichnis
About the Author
Preface
PART I. LEVERAGED BUYOUTS EXPLAINED
1. What is an LBO?
2. Leveraged Buyouts: The Purpose
- Advantages of Leverage
- Risks of Leverage
- Outcomes
3. Players in a Leveraged Buyout
4. Anatomy of a Practitioner's Analysis
- Overview of Financial Statements
- Application of Financial Statements
- LBO Analysis
- Steps in Creating an LBO Analysis
PART II. BUILDING AN ANALYSIS
Overview of an Analysis
5. How Much and Who's Paying for it?
- Sources of Funds
- Leveraging Up
- Transaction Enterprise Value - Measuring Value
6. Income Statement
- Future Growth
7. Cost Structure
- Expense
- Revealing Ratios
- In the Years Ahead
8. Income Statement Forecast
- Forecasting Year 1
- Extending Our Projections
- Checkpoint: Are We Right?
9. Interest
- Setting the Stage
- Taxes
10. EBITDA
11. Cash Flow
12. Outstanding Debt Balance
- Paying Down Leverage - How Much is the Right Amount?
- Excess Cash
- Across the Five Years
- Net Interest Income
- Statistics and Ratio Analysis
13. Returns Analysis
- Multiple of Money
- Returns in the Future
14. Additional Ratio Analysis
- Debt Ratios
- Coverage Ratios
15. Sensitivity Analysis
Conclusion
Index
Preface
PART I. LEVERAGED BUYOUTS EXPLAINED
1. What is an LBO?
2. Leveraged Buyouts: The Purpose
- Advantages of Leverage
- Risks of Leverage
- Outcomes
3. Players in a Leveraged Buyout
4. Anatomy of a Practitioner's Analysis
- Overview of Financial Statements
- Application of Financial Statements
- LBO Analysis
- Steps in Creating an LBO Analysis
PART II. BUILDING AN ANALYSIS
Overview of an Analysis
5. How Much and Who's Paying for it?
- Sources of Funds
- Leveraging Up
- Transaction Enterprise Value - Measuring Value
6. Income Statement
- Future Growth
7. Cost Structure
- Expense
- Revealing Ratios
- In the Years Ahead
8. Income Statement Forecast
- Forecasting Year 1
- Extending Our Projections
- Checkpoint: Are We Right?
9. Interest
- Setting the Stage
- Taxes
10. EBITDA
11. Cash Flow
12. Outstanding Debt Balance
- Paying Down Leverage - How Much is the Right Amount?
- Excess Cash
- Across the Five Years
- Net Interest Income
- Statistics and Ratio Analysis
13. Returns Analysis
- Multiple of Money
- Returns in the Future
14. Additional Ratio Analysis
- Debt Ratios
- Coverage Ratios
15. Sensitivity Analysis
Conclusion
Index
Details
Erscheinungsjahr: | 2012 |
---|---|
Fachbereich: | Allgemeines |
Genre: | Importe, Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Taschenbuch |
Inhalt: | Kartoniert / Broschiert |
ISBN-13: | 9780857190956 |
ISBN-10: | 0857190954 |
Sprache: | Englisch |
Ausstattung / Beilage: | Paperback |
Einband: | Kartoniert / Broschiert |
Autor: | Pilger, David |
Hersteller: | Harriman House Ltd |
Verantwortliche Person für die EU: | Libri GmbH, Europaallee 1, D-36244 Bad Hersfeld, gpsr@libri.de |
Maße: | 234 x 156 x 10 mm |
Von/Mit: | David Pilger |
Erscheinungsdatum: | 15.06.2012 |
Gewicht: | 0,269 kg |
Über den Autor
David Pilger
Inhaltsverzeichnis
About the Author
Preface
PART I. LEVERAGED BUYOUTS EXPLAINED
1. What is an LBO?
2. Leveraged Buyouts: The Purpose
- Advantages of Leverage
- Risks of Leverage
- Outcomes
3. Players in a Leveraged Buyout
4. Anatomy of a Practitioner's Analysis
- Overview of Financial Statements
- Application of Financial Statements
- LBO Analysis
- Steps in Creating an LBO Analysis
PART II. BUILDING AN ANALYSIS
Overview of an Analysis
5. How Much and Who's Paying for it?
- Sources of Funds
- Leveraging Up
- Transaction Enterprise Value - Measuring Value
6. Income Statement
- Future Growth
7. Cost Structure
- Expense
- Revealing Ratios
- In the Years Ahead
8. Income Statement Forecast
- Forecasting Year 1
- Extending Our Projections
- Checkpoint: Are We Right?
9. Interest
- Setting the Stage
- Taxes
10. EBITDA
11. Cash Flow
12. Outstanding Debt Balance
- Paying Down Leverage - How Much is the Right Amount?
- Excess Cash
- Across the Five Years
- Net Interest Income
- Statistics and Ratio Analysis
13. Returns Analysis
- Multiple of Money
- Returns in the Future
14. Additional Ratio Analysis
- Debt Ratios
- Coverage Ratios
15. Sensitivity Analysis
Conclusion
Index
Preface
PART I. LEVERAGED BUYOUTS EXPLAINED
1. What is an LBO?
2. Leveraged Buyouts: The Purpose
- Advantages of Leverage
- Risks of Leverage
- Outcomes
3. Players in a Leveraged Buyout
4. Anatomy of a Practitioner's Analysis
- Overview of Financial Statements
- Application of Financial Statements
- LBO Analysis
- Steps in Creating an LBO Analysis
PART II. BUILDING AN ANALYSIS
Overview of an Analysis
5. How Much and Who's Paying for it?
- Sources of Funds
- Leveraging Up
- Transaction Enterprise Value - Measuring Value
6. Income Statement
- Future Growth
7. Cost Structure
- Expense
- Revealing Ratios
- In the Years Ahead
8. Income Statement Forecast
- Forecasting Year 1
- Extending Our Projections
- Checkpoint: Are We Right?
9. Interest
- Setting the Stage
- Taxes
10. EBITDA
11. Cash Flow
12. Outstanding Debt Balance
- Paying Down Leverage - How Much is the Right Amount?
- Excess Cash
- Across the Five Years
- Net Interest Income
- Statistics and Ratio Analysis
13. Returns Analysis
- Multiple of Money
- Returns in the Future
14. Additional Ratio Analysis
- Debt Ratios
- Coverage Ratios
15. Sensitivity Analysis
Conclusion
Index
Details
Erscheinungsjahr: | 2012 |
---|---|
Fachbereich: | Allgemeines |
Genre: | Importe, Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Taschenbuch |
Inhalt: | Kartoniert / Broschiert |
ISBN-13: | 9780857190956 |
ISBN-10: | 0857190954 |
Sprache: | Englisch |
Ausstattung / Beilage: | Paperback |
Einband: | Kartoniert / Broschiert |
Autor: | Pilger, David |
Hersteller: | Harriman House Ltd |
Verantwortliche Person für die EU: | Libri GmbH, Europaallee 1, D-36244 Bad Hersfeld, gpsr@libri.de |
Maße: | 234 x 156 x 10 mm |
Von/Mit: | David Pilger |
Erscheinungsdatum: | 15.06.2012 |
Gewicht: | 0,269 kg |
Sicherheitshinweis