7 IBD presentation 2016 Talen Energy Corp Citigroup

-ibd-presentation-2016-talen-energy-corp-citigroup · 2016-01
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 1
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Slide inventory

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every slide · same image gating as the playbook
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Slide 1
front_matter
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front_matter
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The slide uses a bulleted list format to represent a timeline of events from December 2015 to May 2016.establish_context
Open slide detailBeat · Problem
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Includes stock price charts, indexed performance, and commentary on acquisition premiums.analyze_data
Open slide detailBeat · ProblemLoop · Zoom In
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Includes a small table for WACC data and bulleted commentary highlighting high/low valuation points.compare_peers
Open slide detailBeat · ProblemLoop · Zoom In
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The chart shows a decline in IPP stock prices following the auction results, while the S&P 500 saw a slight increase.analyze_data
Open slide detailBeat · Market SizeLoop · Zoom In
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The slide compares three different forecast versions (January 11 Presentation, Q3 Refreshed - Base, Q3 Refreshed - Auction Results Update) across years 2016-202analyze_data
Open slide detailBeat · Market SizeLoop · Zoom In
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Includes a 'For Reference Only' section for Wall Street research and 52-week highs/lows.analyze_data
Open slide detailBeat · Market SizeLoop · Zoom In
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The chart uses a waterfall bridge structure to decompose the $2.30 change in equity value.analyze_data
Open slide detailBeat · FinancialsLoop · Mece Breakdown
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Includes specific assumptions regarding tax rates, debt, share count, and WACC.analyze_data
Open slide detailBeat · FinancialsLoop · Mece Breakdown
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The chart uses a waterfall bridge to explain the $3.03 cumulative change in equity value per share.analyze_data
Open slide detailBeat · FinancialsLoop · Mece Breakdown
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appendix
Open slide detailBeat · FinancialsLoop · Mece Breakdown
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Includes sensitivity analysis for WACC and EV/EBITDA multiples.analyze_data
Open slide detailBeat · FinancialsLoop · Mece Breakdown
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Includes valuation tables for Dynegy and NRG, with implied equity value calculations based on 2017 EV/EBITDA and 2018 FCF yield.compare_peers
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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Includes valuation sensitivity based on low and high multiples derived from 10th and 90th percentiles of historical peer data.analyze_data
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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Includes a summary table of transaction multiples and a valuation build-up table for low/high cases.cite_precedent
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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Waterfall chart used to bridge enterprise value components to equity value.analyze_data
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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The slide provides granular transaction data to support a Sum-of-the-Parts (SOTP) valuation analysis.cite_precedent
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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Data as of May 25, 2016. Includes consensus price target and implied premium calculation.analyze_data
Open slide detailBeat · SolutionLoop · Cost Of Inaction
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Includes a summary of 25th, 50th, and 75th percentile premiums.cite_precedent
Open slide detailBeat · Team
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Includes peer benchmarking tables for capital structure and beta, with a specific focus on a 40% tax rate scenario.analyze_data
Open slide detailBeat · Team
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Contains standard financial services legal boilerplate and a brief paragraph on Citi's sustainability commitment.other