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Transaction Comps Modeling - WSP Exam
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Completed exam as of September 2024 with correct answers
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9/26/24, 9:32 PM Completed Exam | Wall Street Prep Back to Course | Exit to Learning Dashboard
Review: Transaction Comps Modeling Exam
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Question 1
When looking to do a transaction comp analysis, some of the merger-related filings that should be looked at include each of the
following EXCEPT:
8-K
Form S-1
Proxy statement
Form S-4
Question 2
When determining value for a company based on transaction rather than trading comps, one of the key differences that will
affect the value is:
Lack of a comparable universe
Premium paid for control of the business
Unavailable historical information
Target was never public
Question 3
A company provided the following GAAP to non-GAAP reconciliation:
Non-GAAP Operating profit
($ in millions) 2019A
GAAP Operating profit 56
Amortization of purchased intangible assets 6
Stock based compensation 51
Restructuring expenses 184
non-GAAP operating profit 297
Cash flow statement
($ in millions) 2019A
GAAP net income 346
Depreciation and amortization 108
Stock based compensation 51
Changes in working capital 8
Other 9
Cash from operations 522
The company above defines Adjusted EBITDA as operating profit before depreciation and amortization and excluding non-GAAP
items. Based on the information provided, what is the value of Adjusted EBITDA for this company?
$414 million
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