Practice

A company's share price was $20.00 before a deal was announced, and the acquirer offered $27.00 per share. What premium did the acquirer pay?

A company has an Equity Value of $500M, Cash of $80M, Debt of $220M, and Preferred Stock of $40M. What's its Enterprise Value?

A company has Pension Liabilities of $300M and Pension Assets of $220M. Contributions are tax-deductible at a 25% tax rate. How much should be added to Enterprise Value for this pension?

A company issues $80M in Common Stock and uses the full proceeds to acquire a factory (an Operating Asset) for $80M. By how much does its Enterprise Value change?

A company's Deferred Tax Asset includes $80M of Net Operating Losses. It has recorded a Valuation Allowance equal to 25% of that NOL balance. How much of the NOLs should you subtract in the Enterprise Value bridge?

The median premium across a set of Precedent Transactions is 30%. Your target company's current share price is $14.00. What's its implied share price using the M&A Premiums method?

A company's most recent fiscal-year (annual) Revenue was $400M. Its most recent interim period this year was $220M, and the same interim period last year was $190M. What's its LTM Revenue?

A company issues $150M in Debt and uses the full proceeds to purchase $150M of Financial Investments (a Non-Operating Asset). By how much does its Enterprise Value change?

A company's most recent fiscal-year (annual) Revenue was $550M. Its most recent interim period this year was $310M, and the same interim period last year was $275M. What's its LTM Revenue?

An acquirer buys 60% of a company for $420M. What's the implied Purchase Equity Value for 100% of the company?

A company has an Enterprise Value of $1,400M and EBITDA of $175M. What's its TEV/EBITDA multiple?

A company has $400M in Equity Value and Net Income to Common of $40M. What's its P/E multiple?

A company has 200 million shares outstanding at a $15.00 share price. It has 20 million options outstanding at a $9.00 exercise price. What's its Diluted Equity Value, using the Treasury Stock Method?

An acquirer buys 70% of a company for $350M. What's the implied Purchase Equity Value for 100% of the company?

A company's Equity Value is $900M. It has Cash of $60M, Debt of $150M, a 25% Equity Investment stake carried at $40M on its Balance Sheet, and Noncontrolling Interests of $70M. What's its Enterprise Value?

A company has 400,000 basic shares outstanding. Its Treasury Stock Method calculation for options yields 15,000 net new shares, and it also has 25,000 RSUs outstanding. What's its Diluted Share Count?

It's currently August 2026. A company's full-year 2025 EBITDA was $400M. Its Q1+Q2 2026 EBITDA was $230M, and its Q1+Q2 2025 EBITDA was $190M. What's its LTM EBITDA?

A company's share price was $35.00 before a deal was announced, and the acquirer offered $42.00 per share. What premium did the acquirer pay?

A company has 150 million shares outstanding at a $12.00 share price. It has 30 million options outstanding at a $20.00 exercise price. What's its Diluted Equity Value?

Your target company has $90M of EBITDA, and the median TEV/EBITDA multiple across its Comps is 7.5x. What's the target's implied Enterprise Value?

A company has 2 million shares outstanding at an $80.00 share price. It has $15 million of convertible bonds with a $60.00 conversion price. How many new shares would the bonds create if converted?

Your target company has $65M of EBITDA, and the median TEV/EBITDA multiple across its Comps is 9.2x. What's the target's implied Enterprise Value?

A company's Current Enterprise Value is $2,000M. Its Year 1 forward EBITDA estimate is $250M. What's its Year 1 forward TEV/EBITDA multiple?

A company trades at 12x TEV/EBITDA, with total EBITDA of $150M (Enterprise Value = $1,800M). It sells an Operating Asset contributing $30M of that EBITDA for 3.0x the Asset's own EBITDA. What's the company's new TEV/EBITDA multiple after the sale?

A company has Enterprise Value of $600M and net debt of $80M. What's equity value?

A company's fiscal year ends June 30th. Its full fiscal-year Revenue was $300M. The June 30th-December 31st period this year was $170M, and the same period last year was $150M. What's its calendarized (December 31st) Revenue?