Value Investing Valuing Companies with FinCos |
- Valuing Companies with FinCos
- Is anybody familiar with Spartan Motors? If so, can you point me to an industry primer/analysis?
- ADT S-1 filing question
- A way to invest in hard assets
| Posted: 06 Jan 2018 02:49 PM PST Many companies have financial services units that provide financing to customers for their products. The loans are generally funded with debt that is securitized against the loan receivables. In some cases, the net interest income the financial services unit ("the FinCo") generates can become a very meaningful portion of total company profits. The question is how to treat securitized debt associated with the FinCo when valuing a company - should it be treated the same as regular debt, and hence deducted from enterprise value to derive equity value in a DCF? (or added to enterprise value in the case where enterprise value is derived from equity value). [link] [comments]  |
| Is anybody familiar with Spartan Motors? If so, can you point me to an industry primer/analysis? Posted: 06 Jan 2018 12:58 PM PST Hi, I am looking to gain a better understanding of the freight industry, specifically with truck transportation. Does anybody know of any primer or industry analysis available? [link] [comments]  |
| Posted: 06 Jan 2018 03:04 PM PST Looking through the S-1 of ADT which is going public pretty soon and had a question about them referencing tax deferred assets. They said the following: "We have significant deferred tax assets, and any impairments of or valuation allowances against these deferred tax assets in the future could materially adversely affect our results of operations, financial condition, and cash flows." Was wondering if anyone could explain what the tax deferred assets they mention are? [link] [comments]  |
| A way to invest in hard assets Posted: 06 Jan 2018 06:00 AM PST How can retail investor invest in hard, yet liquid assets? I want a cash equivalent that is liquid and that can hold its value reasonably well during a number of economic catastrophes... [link] [comments]  |
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