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  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 36 slides",
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  "notes": "The chart displays a regression line indicating a negative correlation between growth and margin in these transactions.",
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      "text": "R² = 0.6113",
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      "text": "Scatter plot of Target NTM Revenue Growth vs Target NTM EBITDA Margin",
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      "text": "> 25% NTM Rev. Growth + EBITDA Margin; <= 25% NTM Rev. Growth + EBITDA Margin",
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      "text": "Notes: 1. Based on street estimates for target companies at time of transaction. 2. Yoda street estimates based on Wall Street research as of 6/5/2019; projections represent non-GAAP metrics.",
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      "text": "Precedent Software Transactions – Operational Benchmarking",
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