Private Capital Investing by Roberto Ippolito

Author:Roberto Ippolito
Language: eng
Format: epub
ISBN: 9781119526193
Publisher: Wiley
Published: 2019-12-16T00:00:00+00:00

FUNDAMENTALS #3: MARKET VALUES VS. BOOK VALUES

When calculating EV, market values should be used for its components. While this is relatively straightforward for the equity component of listed companies (in fact, one can use equity market capitalisation), this is often not the case for debt, since few companies have quoted debt.

The investing focus of private equity and private debt is investment in private (i.e. non-listed) companies, thus book values for both equity and debt are used.

DISCOUNTED CASH VALUATION METHOD

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