Historical performance review
Review revenue, margins, earnings development, cash conversion, working capital, capex, and relevant operating trends.
Private company and acquisition analysis
Private company and acquisition analysis for deal review, sale planning, and investor decisions.
Build a private-market valuation pack around normalized EBITDA, cash flow, leverage capacity, operating scenarios, and buyer or seller framing.
What this can include
- EBITDA and revenue multiple analysis
- Cash-flow and leverage capacity
- Operating case sensitivity
- Investor or acquisition memo support
Service fit
Built around the private-market decision, not a generic multiple.
The starting point may be purchase-price support, sale preparation, a downside case, leverage sensitivity, investor memo support, or a custom model for a private-company decision.
- Private-company sale planning
- Acquisition or corporate-development review
- Private equity and independent-sponsor cases
- Investor or lender scenario analysis
- Management-case and forecast review
- Enterprise-value-to-equity-value framing
Information and evidence
Information availability shapes scope and confidence.
Start with a short description of the situation. Confidential files are not needed until scope and handling expectations have been agreed.
- Historical revenue, margins, EBITDA, and cash-flow information
- Working-capital, capital-expenditure, and tax assumptions
- Management forecasts and operating plans where available
- Debt, cash, and debt-like item context
- Comparable companies or transactions where relevant
- Decision purpose, timing, and expected output depth
Analytical approach
Methods are selected to clarify the decision, evidence, and uncertainty.
Not every engagement includes every workstream. The relevant analysis depends on the purpose, information quality, timing, and agreed output depth.
EBITDA normalization
Separate recurring operating earnings from supportable adjustments, one-time items, replacement costs, and counter-adjustments.
Management-case review
Test the assumptions embedded in forecasts, operating plans, and management cases before treating them as a valuation base.
Operating scenarios
Build downside, base, and upside cases to show how revenue, margins, reinvestment, cash flow, and value may change.
DCF and market cross-checks
Compare cash-flow valuation, comparable-company multiples, and transaction references where the evidence is sufficiently relevant.
Purchase-price sensitivity
Show how normalized earnings, entry multiple, growth, margins, and other key assumptions affect enterprise value.
Cash conversion and debt capacity
Consider working capital, capex, interest, amortization, and leverage analytically without implying financing availability.
Enterprise-to-equity bridge
Connect enterprise value to indicative equity value through debt, cash, debt-like items, and transaction-specific adjustments.
Risk and caveat identification
Make material uncertainties, missing information, concentration, forecast risk, and analytical limitations explicit.
Potential outputs
Outputs are scoped to the decision and evidence available.
Comparable multiple table
Depth, format, timing, assumptions, and limitations are confirmed before substantive work begins.
Operating case model
Depth, format, timing, assumptions, and limitations are confirmed before substantive work begins.
Debt capacity context
Depth, format, timing, assumptions, and limitations are confirmed before substantive work begins.
Valuation range memo
Depth, format, timing, assumptions, and limitations are confirmed before substantive work begins.
Scope boundary
Fundamod provides analytical valuation, modelling, and decision support. Legal, tax, accounting, audit, fairness-opinion, securities-placement, underwriting, and regulated external-valuer work require the appropriate qualified professionals.
FAQ
Questions before requesting private company & acquisition analysis.
Why normalize EBITDA?
Reported EBITDA may include non-recurring or owner-specific items. A documented normalization bridge helps distinguish recurring operating earnings from justified adjustments.
Can Fundamod compare DCF and multiples?
Yes. The methods can be triangulated and their assumptions, evidence, strengths, and limitations can be shown explicitly.
Can the work support an acquisition decision?
It can support valuation, scenario, leverage, and decision analysis. Legal, tax, accounting, fairness-opinion, and regulated advice require the appropriate professionals.
What information is useful before scope review?
Useful inputs include historical revenue and earnings, working capital, capex, management forecasts, debt and cash context, relevant market evidence, and the purpose and timing of the decision.
Is a private-company valuation an exact transaction price?
No. It is normally a reasoned range. An actual price also depends on negotiation, deal structure, financing, diligence, timing, synergies, and buyer-specific factors.
What Fundamod covers
Valuation support across private and public-market decisions.
Choose the asset type, share the context, and turn assumptions into a structured valuation range, scenario view, or reviewed memo.
Venture
Startup valuations
Revenue forecasts, scenario valuation, dilution framing, runway logic, and fundraising-readiness outputs.
View servicePropertyReal estate valuations
Rental yield, comparable sales, renovation cases, cap rates, debt service, and exit-value scenarios.
View servicePrivate marketsPrivate company & acquisition analysis
Valuation, financial modelling, scenario analysis, and decision support for private-company transactions and private-market decisions.
View serviceListed equitiesPublic equity valuations
DCF, multiples, margin and growth sensitivity, peer comparison, and research-style valuation notes.
View service