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ACAri Chen
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Provenance

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FilesOpus 5.5
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Enterprise value rose from $412.6m to $431.0m, +$18.4m. One edit is behind it: revenue growth on DCF Model!C12 went from 6.0% to 8.0%, and 11 cells recalculated from it.

No. V12 through V15 touch DCF Model and Summary only. Every cell on Debt Schedule is unchanged since V11, and net debt holds at $186.0m.

Helpful?Opus 5.5 · 3:42 PM

Sources

Meridian_LBO_v15.xlsxV151

Revenue growth · DCF Model!C12 · 8.0%

Meridian_LBO_v15.xlsx

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FilesOpus 5.5
ModelsMeridian_LBO_v15.xlsxComparingV14V15 New review New version Assistant
Version history15
  1. DWDana Whitfield2hV15LatestRaised revenue growth to 8.0%
  2. ACAri Chen1dV14Refreshed Q2 actuals
  3. DWDana Whitfield3dV13Tightened the working capital build
  4. SOSam Ortiz5dV12Updated the exit multiple
  5. ACAri Chen1wV11Rebuilt the debt schedule
Key values

Enterprise value rose $18.4m to $431.0m on one edit.

Revenue growth moved from 6.0% to 8.0%, and free cash flow and the IRR recalculated from it.

Enterprise value1 driver $412.6m$431.0m+4.5%
Equity value$226.6m$245.0m+8.1%
IRR21.4%22.6%+1.2pp
Model checks
Balance sheet balances PassTies in 5 periods
Debt schedule roll-forward PassTies in 5 periods
C120.06
BCD
11Revenue1,1801,274
12Growth6.0%8.0%
13EBITDA425459
14Capex(58)(63)
15Free cash flow41.245.3
16
17
18
19
20
21
C120.08
BCD
11Revenue1,1801,274
12Growth8.0%8.0%
13EBITDA425459
14Capex(58)(63)
15Free cash flow44.649.1
16
17
18
19
20
21
DCF Model 8Summary 4EditDownstream
Changes12

DCF Model

Revenue growth · FY266.0%8.0%
Free cash flow · FY2641.244.6

Summary

Enterprise value$412.6m$431.0m
IRR21.4%22.6%