{
  "docId": "019dd923-622b-71dc-a6da-48381ed99850",
  "docSlug": "da3c4d23871a",
  "documentTitle": "Multiple (GoDaddy, News Corp, Fortrea) (GDDY, NWSA, FTRE)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-10-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 30,
  "pageCount": 70,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "valuation_table",
  "function": "compare_peers",
  "density": "overcrowded",
  "nDataPoints": 36,
  "notes": "The chart highlights GoDaddy (red) and a 'PF GDDY' (green) projection against a peer group (blue).",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-48381ed99850/30",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850#slide-30",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "If GoDaddy can improve its growth + profitability rate to 40%, GoDaddy should trade more in-line with other predictable, recurring technology businesses that have strong leadership positions in growing markets.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-3f41-721f-9e49-487e295e9bee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.92,
        "x": 0.04,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Price / CY2023E Free Cash Flow – Moderate Growth Technology Companies with Recurring Revenue",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19216938-4555-4a93-a052-ae8068f0b628",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Price / CY2023E Free Cash Flow: 11.0x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f41-721f-9e49-4c2708b67f71",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.11
      },
      "kind": "paragraph",
      "text": "If GoDaddy can improve its growth + profitability rate to 40%, GoDaddy should trade more in-line with other predictable, recurring technology businesses that have strong leadership positions in growing markets.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "56f86239-e732-4726-b5c0-013a03ca6389",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.01,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Capital IQ, Bloomberg. Market data as of 10/13/23. Note: Starboard believes that the companies above provide appropriate peer comparisons.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "70c5808c-51d0-457a-b5ac-4aea00f876ff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.8,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Believe GoDaddy Has a Significant Value Creation Opportunity (Cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6faca33f-4ec4-45cc-835b-d59c0b284ce1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "762f7ecc-4b80-4595-b668-0244a497b141",
      "evidence": "Comparing GoDaddy valuation multiples against a peer group of technology companies.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 30,
      "from": 21,
      "beatId": "92eb0ccb-979d-45e6-9ef6-00f219b799ce",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The presentation provides data and analysis to support the investment theses.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 29,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "9f5d6357-a4ff-492c-a154-3e4880ea0029",
      "evidence": "The presentation uses a before-after loop to show potential value creation in GoDaddy.",
      "position": 0,
      "objective": "Illustrate potential value creation",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}