Goldman Sachs | Investment Banking Pitch Book | 42 slides

Goldman Sachs · 2018-04
arc beats above · slides in the middle · loops below · scroll → 3 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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Slide inventory

42
every slide · same image gating as the playbook
01
Slide 1
front_matter
03
front_matter
04
transition
Open slide detailBeat · Situation & Context
05
Goldman Sachs investment banking deck slide.summarize
Open slide detailBeat · Situation & Context
06
compare_options
Open slide detailBeat · Problem & Complication
07
recommend
Open slide detailBeat · Problem & Complication
08
Goldman Sachs Investment Banking Division slide.compare_options
Open slide detailBeat · Solution & Approach
09
Includes specific ownership figures for CEO and CFOs as of Dec 31, 2017.summarize
Open slide detailBeat · Solution & Approach
10
The slide presents two parallel calculation paths for unit conversion, highlighting the impact of different market cap assumptions.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Mece Breakdown
11
Includes two scenarios for Series B conversion (Post Transaction Market Cap vs Status Quo Market Cap).analyze_data
Open slide detailBeat · Evidence & ProofLoop · Mece Breakdown
12
The slide uses a comparative structure to show how different conversion ratios affect financial metrics and ownership stakes.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Mece Breakdown
13
The table uses color-coding (green/red) to indicate accretion vs dilution scenarios.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Mece Breakdown
14
The slide presents two tables, each split into two sub-tables (DCF and DPS), showing projections from 2018E to 2022E based on exchange ratios ranging from 1.6x analyze_data
Open slide detailBeat · Evidence & ProofLoop · Mece Breakdown
15
The slide presents two tables, each split into two sub-tables (DCF and DPU), showing projections from 2018E to 2022E across five exchange ratios.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
16
appendix
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
17
Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
18
Includes three line charts showing performance trends for Midstream Unit Price, GP Share Price, and Historical Exchange Ratio.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
19
The chart includes a vertical axis annotation explaining the implications of the exchange ratio on ownership.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
20
Includes three distinct table sections: Status Quo Cash Distributions to Equity (Midstream and IDR LLC), Status Quo Cash Distributions to Equity (Midstream, IDRanalyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
21
The slide uses a combination of bar charts for company equity changes and diamond markers for index performance.cite_precedent
Open slide detailBeat · Impact & Next Steps
22
Includes a sensitivity/uplift calculation for total equity value.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Before After
23
appendix
Open slide detailBeat · Impact & Next StepsLoop · Before After
24
Goldman Sachs Investment Banking Division slide showing financial projections from 2018E to 2027E.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Before After
25
The slide uses a combination of a data table for valuation figures and a stacked bar chart to visualize share counts under different growth and yield assumptionquantify_impact
Open slide detailBeat · Impact & Next StepsLoop · Before After
26
Includes specific valuation methodology for Series B conversion based on DDM-implied GP market cap and share price.quantify_impact
Open slide detailBeat · Impact & Next StepsLoop · Before After
27
The slide presents two sensitivity tables (Rapid Taper Case and Gradual Taper Case) showing Series B Value, Converted Shares (VWAP-Based), and Converted Shares analyze_data
Open slide detailBeat · Impact & Next Steps
28
Includes a memo box for current 20-day VWAP and a source note at the bottom.analyze_data
Open slide detailBeat · Impact & Next Steps
29
Includes a memo box for current 20-day VWAP and a sensitivity table for GP EV.analyze_data
Open slide detailBeat · Impact & Next Steps
30
Includes a memo box for current trading day VWAP and S.Q. GP 2019 DPS.quantify_impact
Open slide detailBeat · Impact & Next Steps
31
The table includes a vertical line separating management projections (2017E-2022E) from illustrative extensions (2023E-2027E).analyze_data
Open slide detailBeat · Impact & Next Steps
32
The table distinguishes between 'Management Projections' (2017E-2022E) and 'Illustrative Extension of Projections' (2023E-2027E).analyze_data
Open slide detailBeat · Impact & Next Steps
33
The slide compares the NPV of cash flows under a status quo vesting schedule versus an early vesting scenario, resulting in a $1 million incremental value.quantify_impact
Open slide detailBeat · Impact & Next Steps
34
The chart uses a waterfall-style layout to rank companies by their implied growth rates, ranging from positive to negative values.analyze_data
Open slide detailBeat · Impact & Next Steps
35
The slide includes a specific formula for calculating the Implied Perpetuity Growth Rate.analyze_data
Open slide detailBeat · Impact & Next Steps
36
Includes Goldman Sachs branding and standard investment banking disclaimer.analyze_data
Open slide detailBeat · Impact & Next Steps
37
Includes a WACC calculation for a buyer capital structure and a sensitivity matrix.analyze_data
Open slide detailBeat · Impact & Next Steps
38
Includes a disclaimer at the top and source note at the bottom.analyze_data
Open slide detailBeat · Impact & Next Steps
39
The chart includes a vertical dashed line indicating a specific time point, likely a transition or event date.compare_peers
Open slide detailBeat · Impact & Next Steps
40
The chart shows two distinct lines representing historical and predicted beta, with final values of 1.23x and 0.89x respectively.analyze_data
Open slide detailBeat · Impact & Next Steps
41
Includes source attribution and specific WACC calculation assumptions in the footer.analyze_data
Open slide detailBeat · Impact & Next Steps
42
Includes logos of various financial institutions; red dashed line indicates the median value for each category.compare_peers
Open slide detailBeat · Impact & Next Steps