Methods, multiples, and best practices for business and asset valuation.
14 articles
Master earn-out structuring in European M&A: revenue vs EBITDA metrics, duration, accounting treatment, dispute mechanisms, negotiation tips, and practical case studies.
Master working capital adjustments in M&A: completion accounts vs locked box, normalized working capital calculation, peg methodology, common disputes, and practical examples.
Data-driven analysis of European tech M&A multiples by sub-sector: SaaS, fintech, cybersecurity, AI/ML, enterprise software, e-commerce tech, and IoT with trend analysis.
A comprehensive guide to SaaS valuation -- key metrics (ARR, NRR, Rule of 40, LTV:CAC), valuation multiples by growth bracket, benchmarking, and SaaS-specific due diligence.
A comprehensive guide to working capital adjustments in M&A: understanding net working capital, setting the peg, locked box vs. completion accounts, seasonal adjustments, the true-up mechanism, negotiation strategies, and a fully worked example.
A complete guide to calculating enterprise value in M&A: the EV formula, equity value vs. enterprise value, net debt calculation, EV bridge walkthrough with worked examples, common mistakes, and how EV translates into the offer price.
A detailed guide to precedent transaction analysis for M&A professionals: finding relevant deals, selecting comparable transactions, analyzing premiums paid, adjusting for market conditions, and building a defensible precedent table.
A practitioner-level guide to comparable company analysis (trading comps) in M&A: selecting peer companies, choosing the right multiples, normalizing financials, calculating implied valuation ranges, and applying premiums and discounts for a defensible valuation.
A comprehensive, practitioner-level guide to DCF analysis in M&A: projecting free cash flows, calculating WACC, estimating terminal value, discounting to present value, running sensitivity analysis, and avoiding the most common mistakes.
Comprehensive guide to EV/EBITDA, EV/Revenue, and P/E valuation multiples across 8 major industries with 2025 data, historical trends, and practical application guidance for M&A professionals.
Understand common EBITDA adjustments in M&A transactions, from owner add-backs to pro forma run-rate adjustments. Learn what buyers accept, what raises red flags, and how to calculate normalized EBITDA.
A comprehensive guide to business valuation methods for M&A: DCF analysis, comparable companies, precedent transactions, asset-based approaches, and industry-specific multiples.
A comprehensive guide to M&A synergies covering revenue, cost, and financial synergies, how to value them, realistic realization timelines, and common pitfalls that destroy projected value.