Since my junior year, I have been asking myself (and been asked) a lot about what I shall do in the finance world. To a majority of local students I’ve met, finance involves numbers, and that’s it. The picture gradually became clearer as I had the chance to talk to more senior people and experienced…
Tag: valuation
Ep 158: Robinhood’s concerning update and the crypto market
What’s going on? Robinhood posted a disappointing first earnings update since its IPO. What does this mean? In Q1/2021, Robinhood’s bank balance might have been boosted by meme stocks (like GameStop and AMC Entertainment). In Q2/2021, however, Robinhood’s revenue surged 131% thanks to crypto trading making up around 51%, which was a huge jump from 17% in…
Journal Report 32: ThaiBev – Sabeco acquisition (4): Divestment strategy
The analysis of this deal includes 4 parts: (1) Legal structure, (2) Capital structure, (3) Sabeco valuation, and (4) Divestment strategy Sabeco’s perfomance 3 years after the transaction Revenue Sabeco’s revenue increased by 5.1% in 2018 and 5.4% in 2019, but there was a sharp decline of 26.2% in 2020. This decrease largely came from:…
Journal Report 31: ThaiBev – Sabeco acquisition (3): Sabeco valuation
The analysis of this deal includes 4 parts: (1) Legal structure, (2) Capital structure, (3) Sabeco valuation, and (4) Divestment strategy About ThaiBev Business overview In FY17, ThaiBev’s consolidated financial results are as below: Revenue: ฿189,997b, ~ US$6.2b; Net profit: ฿22,799b, ~ US$746m; EBITDA: ฿32,675b, ~ US$1x. ThaiBev has four main business lines: (1) Spirits,…
Ep 150: Fintech M&A with Square and Afterpay
What’s going on? Square (US payments giant) announced their plan to buy Afterpay (Australian fintech) for $29bn. What does this mean? Afterpay Afterpay is a buy-now-pay-later company that lets customers spread the cost of an online purchase over a period of time. If customers make payments on time, they don’t have to pay interests on…
Ep 125: Airbnb’s official IPO
What’s going on? Airbnb finally moved onto the stock market and its shares initially more than doubled. What does this mean? Although the pandemic has made life difficult for Airbnb, but it surprised everyone by actually turning a profit, thanks to the trend of day trips. Airbnb thought it was about time to go public…
Journal Report 1: Microsoft Vs. Amazon: Valuing The Cloud
Summary Amazon and Microsoft lead the very lucrative cloud market, which generates substantial cash flows for investors. While they’re both titans of the cloud industry, one offers a more compelling value proposition. A winner is finally chosen based on both qualitative and quantitative factors. Introduction The largest cloud stocks with the strongest, most predictable cash…
with HT 