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  "documentTitle": "Houlihan Lokey | Investment Banking Pitch Book | 43 slides",
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  "presentationDate": "2019-09-01 00:00:00",
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  "notes": "The slide uses a grouped bar chart to compare valuation multiples across two time periods for two industry segments.",
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      "kind": "callout",
      "text": "KEG's reduced CY 2020E adjusted EBITDA forecast contributed to a meaningfully higher trading multiple despite a material share price decline",
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      "text": "Although certain selected companies saw movement in their EV / CY 2020E Adjusted EBITDA multiples, the median and mean multiple for all selected companies were largely flat.",
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      "text": "Source: Capital IQ. Note: No company shown for comparative purposes is identical to Poconos. Refer to Glossary for full company names.",
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