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雅龍ファイナンス
DAISAKU KADOMAE
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Join date: Dec 11, 2023
Posts (26)
Aug 10, 2025 ∙ 1 min
Valuation Distortion from WACC Misclassification
Key Points: Naïve WACC (7.0%) overvalues the enterprise by $530m compared to refined WACC (8.8%). Same cash flows and growth rate, but...
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Aug 10, 2025 ∙ 1 min
The Impact of Hybrid Capital Classification on Valuation
Key Points: Naïve approach (100% debt treatment) yields a 7.0% WACC. Refined approach splits hybrids into debt-leg (4% cost) and...
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Aug 10, 2025 ∙ 1 min
Hybrid Capital and WACC: Why Accurate Classification Matters for Valuation.
Key Points: Hybrid capital instruments (perpetual bonds, preferred shares, convertibles) contain both debt-like and equity-like...
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