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LBO Modeling Test Questions and 100% Correct Answers
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  • LBO Modeling

Net working capital = receivables + inventory - payables Receivables days = receivables/sales x 365 Inventory days = inventory/cogs x 365 Payables days = payables/cogs x 365 Capex is estimated as a % of sales, unless there is a more reasonable method Depreciation is estimated from a capex/depr...

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  • August 15, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • lbo modeling test questions and 100 correct answe
  • net working capital receivables inventory p
  • receivables days receivablessales x 365 invent

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  • LBO Modeling
  • LBO Modeling

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LBO Modeling Test Questions and 100%
Correct Answers
Net working capital = ✅receivables + inventory - payables

Receivables days = ✅receivables/sales x 365

Inventory days = ✅inventory/cogs x 365

Payables days = ✅payables/cogs x 365

Capex is estimated as a ✅% of sales, unless there is a more reasonable method

Depreciation is estimated from a ✅capex/depreciation multiple

Sources of funds ✅cash, revolver, debt (including revolver), equity

Uses of funds ✅equity acquired, existing debt refinanced, debt issuance fees, advisory
fees, minimum cash

Equity value = ✅acquisition ev - net debt

Acquisition ev = ✅entry ltm ebitda x entry ev/ebitda multiple

Main items to show in is ✅net sales, cogs, ebitda, depreciation, ebit, interest expense,
ebt, tax expense, net income (where interest expense links to the debt schedule)

Main line items to show in bs (assets) ✅cash, receivables, inventory, pp&e,
investments, goodwill, intangibles

Main line items to show in bs (liabilities) ✅revolver, debt, payables

Main line items to show in bs (equity) ✅nci, retained earnings, equity

Cash flow statement flow down ✅ebitda - cash interest expense - tax expense -
changes in net working capital - capex = cash flow available for debt repayment -
mandated repayments = cash flow available after mandated payments + revolver
issuance (repayments) - accelerated repayments = cash flow for the year

Cash flow from operations includes ✅ebitda, cash interest expense, tax expense,
changes in net working capital

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