Stone Key Partners | Investment Banking Pitch Book | 39 slides — playbook

Stone Key Partners | Investment Banking Pitch Book | 39 slides

Stone Key Partners · 2021-01

arc beats above · slides in the middle · loops below · scroll → 2 LOOPS

Deck intelligence map

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coverage by narrative range · generated from this deck JSON

Narrative range 37 total

Metadata

Components

Metrics

Tools

Frameworks

Beats

Loops

Situation & Context 4 slides 100% 4/4 slides 100% 4/4 slides · 13 hits

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Problem & Complication 4 slides 100% 4/4 slides 100% 4/4 slides · 12 hits

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50% 2/4 slides 25% 1/4 slides 100% 4/4 slides

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Evidence & Proof 11 slides 100% 11/11 slides 100% 11/11 slides · 45 hits

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81.8% 9/11 slides 18.2% 2/11 slides 100% 11/11 slides 100% 11/11 slides Solution & Approach 9 slides 100% 9/9 slides 100% 9/9 slides · 37 hits

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33.3% 3/9 slides 11.1% 1/9 slides 100% 9/9 slides 100% 9/9 slides Impact & Next Steps 9 slides 100% 9/9 slides 100% 9/9 slides · 21 hits

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22.2% 2/9 slides · 3 hits 22.2% 2/9 slides 100% 9/9 slides

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Slide inventory

39

every slide · same image gating as the playbook

01

Includes SEC Rule 24b-2 confidentiality disclaimer.front_matter

Open slide detailBeat · Situation & Context

02

other

Open slide detailBeat · Situation & Context

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front_matter

Open slide detailBeat · Situation & Context

04

transition

Open slide detailBeat · Situation & Context

05

This is a standard financial disclosure slide outlining the scope of a fairness opinion.cite_precedent

Open slide detail

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Standard legal disclaimer slide for financial fairness opinions.cite_precedent

Open slide detail

07

transition

Open slide detailBeat · Problem & Complication

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Includes redacted company names and specific deal milestones.summarize

Open slide detailBeat · Problem & Complication

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transition

Open slide detailBeat · Problem & Complication

10

The slide details a cash-based acquisition proposal with specific debt and equity commitments.present_solution

Open slide detailBeat · Problem & Complication

11

Includes three distinct valuation scenarios: Unaffected Price, Current Price, and Veritas Offer.analyze_data

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

12

transition

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

13

The slide uses a timeline-based event annotation system (A-N) mapped to a table below the chart.analyze_data

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

14

Includes a specific callout for the Veritas Offer price of $29.35.analyze_data

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

15

The slide uses a combination of a historical stacked bar chart and two summary tables to provide a comprehensive view of analyst sentiment.analyze_data

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

16

Standard fairness opinion disclosure regarding management-provided projections.cite_precedent

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

17

Includes footnotes regarding stock-based compensation and capital expenditure definitions.analyze_data

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

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transition

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

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Includes a footnote clarifying the weight given to specific methodologies in the fairness analysis.cite_precedent

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

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cite_precedent

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

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The chart uses a vertical dashed line to represent the Veritas offer price, allowing for a visual comparison against multiple valuation ranges.compare_peers

Open slide detailBeat · Evidence & ProofLoop · Logic Chain

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transition

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

23

Data based on FactSet median consensus as of January 25, 2020. Peer averages exclude Perspecta.compare_peers

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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Data based on FactSet median consensus and share prices as of January 25, 2021.compare_peers

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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The chart shows two lines: a grey line for the peer group average and a dark blue line for PRSP, with dashed horizontal lines indicating the 2-year averages forcompare_peers

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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Contains two distinct tables: Financial Metrics and Operating Metrics, with summary statistics for each.compare_peers

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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appendix

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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Includes valuation bridge from stock price to transaction value and EBITDA multiples.analyze_data

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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compare_peers

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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appendix

Open slide detailBeat · Solution & ApproachLoop · Cost Of Inaction

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Valuation date: January 25, 2021; mid-year discounting convention; FY21-FY25 cash flows; FY26 EBITDA for terminal value.analyze_data

Open slide detailBeat · Impact & Next Steps

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Valuation date: January 25, 2021; mid-year discounting convention; FY21-FY25 cash flows; FY26 normalized FCF for terminal value.analyze_data

Open slide detailBeat · Impact & Next Steps

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Includes detailed footnotes explaining the methodology for equity risk premium, beta, and leverage ratios.analyze_data

Open slide detailBeat · Impact & Next Steps

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appendix

Open slide detailBeat · Impact & Next Steps

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Data source: Dealogic. Scope: All cash transactions across all sectors with deal EV between $1bn and $10bn.analyze_data

Open slide detailBeat · Impact & Next Steps

36

appendix

Open slide detailBeat · Impact & Next Steps

37

Valuation date: January 25, 2021. EBITDA is burdened by stock-based compensation expense.analyze_data

Open slide detailBeat · Impact & Next Steps

38

appendix

Open slide detailBeat · Impact & Next Steps

39

Valuation date of January 25, 2021; assumes mid-year discounting convention.analyze_data

Open slide detailBeat · Impact & Next Steps