Guideline public company method help from BVR and PitchBook
Check back here Monday, March 15! BVR will release the new PitchBook/BVR Public Company Comps tool. It’s designed to save hours (or days) every time an appraisal requires a GPCM analysis. Check in with your account executive (Linda Mendenhall, Shelly Seger, or Joe Marasco at 503-291-7963) for an early preview.
IVSC aims to ‘demystify’ valuation of intangibles
The adoption of International Financial Reporting Standards (IFRS) has greatly increased the need for improved information and consistency when valuing intangibles, especially in the context of cross-border mergers and acquisitions, joint ventures, and other investment arrangements. However, too often a disconnect results between “the book value of companies and the real market value of their [...]
500 new deals in Pratt’s Stats show lack of recovery
Valuation multiples have definitely taken a fall over the past two to three years, according to new data from Pratt’s Stats®: Year of Sale Count Median revenue Median selling price Median price/ sales multiple Median price/ gross profit 2007 1,493 $844K $419K 0.58 1.03 2008 1,626 $535K $250K 0.52 0.88 2009 862 $483K $207K 0.47 [...]
Implied minority discounts: How to help the doctrine die
What do you do when the courts have yet to catch up to the appraisers? That’s one of the problems with precedent-based jurisprudence; by nature, it depends on prior decisions and takes a long time to turn around, even when new applications have gained common acceptance by experts in the field. Such is the case [...]
New tutorial on using FMV DLOM database
Courts are continually asking for more accurate, empirical data in determining discounts for lack of marketability. Tax Court judges, in particular, have become more sophisticated when it comes to valuation issues and are more likely to reject simple averages or medians calculated over a specific time period. The BV profession has evolved, too—as have the [...]
IVSC adds two more non-appraisers to their board
The International Valuation Standards Council (IVSC) announced two new appointments to its Board of Trustees this moring. Malcolm Knight, non-executive Vice Chairman of Deutsche Bank and April Mackenzie, Global Head of Public Policy and external affairs for Grant Thornton International, will join the Board. IVSC attempts to develop “robust and transparent” procedures for performing international [...]
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