• 31 December 2019
    Younger and more socially conscious investors have increased demand for Environmental, Social and Governance (ESG) compliant portfolios. This in turn…
  • 19 September 2019
    The accounting industry hasn’t always had the best reputation for providing financial transparency, but its origins are based on providing…
  • 22 June 2019
    Businesses that benefit from the network effect are said to see the value of their product or service increase with the number of users. This may…
  • 28 March 2019
    There are three things that this piece will look to address; what is the yield curve, what do we mean by a yield curve inversion and what is the…
  • 11 December 2018
    The first of his McKinsey Awards was for "How Competitive Forces Shape Strategy" in which he highlights his five forces that identify how…
  • 27 September 2018
    Maintenance capex can be considered the cost of sustaining current revenue and profits for a business.
  • 29 July 2018
    Contemporary corporate finance theory says that the value of something is (a) the future expected cash flows discounted back to (b) their net present…
  • 27 July 2018
    The balance sheet is a list of (a) what a company owns less (b) what it owes with the balance being (c) the value that is attributable to…
  • 21 July 2018
    = Earnings before interest and tax/Interest
  • 19 July 2018
    As a general starting point, more debt makes a company more valuable to its owners.
  • 27 June 2018
    If you buy a bit of metal for £90, turn it into widgets and sell them for £270 then you have made a cash profit of £180….
  • 11 June 2018
    = Number of shares * Price per share
  • 22 May 2018
    EBITDA is the cash profit and actually stands for Earnings Before Interest Tax Depreciation and Amortisation (“D&A”).