Goldman Sachs | Investment Banking Pitch Book | 49 slides

Goldman Sachs · 2018-10
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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4
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Slide inventory

49
every slide · same image gating as the playbook
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Slide 1
front_matter
Open slide detailBeat · Situation & Context
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other
Open slide detailBeat · Situation & Context
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front_matter
Open slide detailBeat · Situation & Context
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transition
Open slide detailBeat · Situation & Context
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The table tracks 8 distinct negotiation steps with specific exchange ratios and cash components.compare_options
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
06
The slide outlines the structural and financial mechanics of a corporate transaction involving a GP and Midstream entity.summarize
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
07
Goldman Sachs Investment Banking Division slide, page 6.summarize
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
08
The slide presents a financial reconciliation of merger consideration components (equity vs cash) and the resulting pro forma ownership structure.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
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The slide uses a hub-and-spoke diagram to illustrate corporate ownership and equity interests.present_framework
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
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Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
11
The chart includes a horizontal dashed line representing an implied blended exchange ratio of 1.8004x.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
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Goldman Sachs Investment Banking Division slide.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
13
The chart tracks indexed price performance from Jan 2018 to Oct 2018.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
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Includes summary statistics (High, Mean, Median, Low) for price targets.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Pattern Hunter
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transition
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes coverage ratios for Midstream and GP entities.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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transition
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes valuation metrics like Price/LP DCF and DPU Yield for 2019-2020.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes a mix of stock, cash, and mixed consideration transactions.compare_peers
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes a median benchmark and specific transaction details (date, acquirer, consideration mix).compare_peers
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes a legend for the stacked bar charts within the table. Contains detailed footnotes regarding calculation methodology.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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The slide presents a sensitivity analysis of equity contributions based on low/high valuation scenarios.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
24
The slide uses a 2x2-style layout to compare valuation outcomes based on two variables: perpetuity growth rate (1.5% vs 3.0%) and cost of equity (8.0% vs 10.0%)analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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The slide compares two valuation scenarios (Status Quo and Pro Forma) across three years (2019-2021) using varying P/DCF multiples and a constant 9% cost of equanalyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes source and methodology notes at the bottom.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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Includes comparison against Midstream, Peer Median, and GP benchmarks.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
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transition
Open slide detailBeat · Evidence & Proof
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Includes a sensitivity table for Cost of Equity based on varying Equity Beta and a fixed Risk Free Rate.analyze_data
Open slide detailBeat · Evidence & Proof
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The chart tracks two time series (Historical Beta and Predicted Beta) from Oct-2016 to Oct-2018, with specific event callouts.analyze_data
Open slide detailBeat · Evidence & Proof
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Includes summary statistics (High, Mean, Median, Low) for two distinct peer groups.analyze_data
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Evidence & Proof
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The slide presents two distinct calculation blocks: one for equity/enterprise value and one for multiples and yields.analyze_data
Open slide detailBeat · Evidence & Proof
34
Includes summary statistics (High, Mean, Median, Low) for the peer group.compare_peers
Open slide detailBeat · Evidence & Proof
35
Includes sensitivity analysis tables for valuation and yield.analyze_data
Open slide detailBeat · Evidence & Proof
36
Includes a sensitivity table at the bottom and specific assumptions for discount periods and cost of equity.analyze_data
Open slide detailBeat · Evidence & Proof
37
The chart shows a significant increase in yield over the period, ending at 7.2%.analyze_data
Open slide detailBeat · Evidence & Proof
38
Includes sensitivity analysis tables for valuation based on varying cost of equity and perpetuity growth rates.analyze_data
Open slide detailBeat · Evidence & Proof
39
Includes sensitivity tables for Cost of Equity vs Perpetuity Growth Rate and Implied Terminal Yield.analyze_data
Open slide detailBeat · Evidence & Proof
40
Includes a sensitivity table at the bottom for different DCF yields and multiples.analyze_data
Open slide detailBeat · Evidence & Proof
41
Includes a sensitivity table at the bottom showing implied value based on P/DCF multiples.analyze_data
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Evidence & Proof
43
Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Evidence & Proof
44
Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Evidence & Proof
45
Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Evidence & Proof
46
The table highlights percentage differences between management and broker estimates, with most metrics showing close alignment.analyze_data
Open slide detailBeat · Evidence & Proof
47
Includes Goldman Sachs branding and Investment Banking Division header.analyze_data
Open slide detailBeat · Evidence & Proof
48
The table provides a year-by-year breakdown of tax-related financial metrics.analyze_data
Open slide detailBeat · Evidence & Proof
49
The slide presents two distinct calculation blocks for tax savings, likely for a valuation model.analyze_data
Open slide detailBeat · Evidence & Proof