In this shortened session after the quiz in the first 30 minutes (edited out),, we continued with our discussion of multiples by looking at an analytical device that can be used to find the drivers of multiples. With equity multiples, you go back to a simple equity DCF model (a DDM or FCFE stable growth model) and with some algebra make the equation an intrinsic one for a multiple. With enterprise value multiples, you go back to a firm valuation models and do the algebra. We even expanded the model to consi
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