Technical I
What financial statement records revenue and expenses over a period of time?
Income Statement
Who has been stung by a stingray
Finn Bergin
It's not sophomore, it's...
Second-year
Who was our former president?
Jake Burgess
What is unlevered FCF?
UFCF=EBIT(1-tax rate) + D&A + Change in WC - CAPEX
What are the three main valuation methodologies?
DCF, CCA, Precedent Transactions
Who plays the alto saxophone?
Trey Taylor
What word do we use for what most call "campus?"
Grounds
Who got to feed highland cows this summer?
Mahek Rajpal
What is the capital asset pricing model (CAPM)?
Formula for calculating the cost of equity. Cost of equity = RFR + (lev. beta)(market risk premium)
What is the bridge from equity value to enterprise value?
EV = Equity Value + Debt + Preferred Stock + Minority Interest - Cash
Who spent the past summer working an internship in Hawaii?
Jack Brady
UVA was founded in what year?
1819
Who visited 7 states this past summer?
Which valuation methodology would most likely produce a higher valuation: DCF or LBO?
DCF
What is higher, cost of equity or cost of debt?
Cost of equity
Krish V.
The Rotunda is modeled after what famous building in Europe?
Pantheon in Rome
Who met Giannis over the summer?
Ned Tower
What is the formula for WACC?
WACC=(%debt)(after tax cost of debt)+(%equity)(cost of equity)
How do the three statements change when an asset with a book value of $100 is sold for $90, assuming a 30% tax rate.
IS: pretax income down 10, net income down 7
CFS: CFO up 3; CFI: up 90; net up 93
BS: Assets: 93-100=-7; SE: -7
Who has been hit in the head by a skunk in a boot?
Riley Warner
How many schools does UVA have?
12
CLAS, Darden, Batten, McIntire, A-School, E-School, Cont. Prof. Studies, Data Science, Ed-School, Law, Medicine, and Nursing
What are the 2 training programs that FBIF offers?
First-year training program & Wall Street Workshop
Why do you add minority interest to equity value when calculating EV?
So the EV # is comparable with the financial metrics on the company's financial statements.