日历化处理在财务分析中应用与重要性.pptx

Can’tcompareJul1,2013–Jun30,2014toJan1,2014–Dec31,2014Companies’fiscalyearsendondifferentdatesWhyCalendarization?Jul.–Sep.Oct.–Dec.Jan.–Mar.Apr.–Junan.–Mar.Apr.–Jun.Jul.–Sep.Oct.–Dec.

HowtoCalendarizeComps?Needtousethesameperiod(orascloseaspossible)forvaluationpurposesMainPointsforValuation:1)HowtoDoItForHistoricalPeriods,2)FuturePeriods,and3)Compsvs.TransactionsHistoricalPeriodsandTransactions:CalculatetheLTMfigures,asofthevaluationdateforpubliccompsorthetransactionannouncementdateforMAc