{
  "docId": "019de06f-e127-764f-8dcc-a707a7dd4b14",
  "docSlug": "eb7b7dc6e7def9a71788d3d0eff207f6",
  "documentTitle": "Houlihan Lokey | Investment Banking Pitch Book | 43 slides",
  "authorId": "houlihan-lokey",
  "authorName": "Houlihan Lokey",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2019-09-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3342599,
  "pageNumber": 9,
  "pageCount": 43,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 150,
  "notes": "Includes detailed table of levered and unlevered betas for drilling and well services companies.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-e127-764f-8dcc-a707a7dd4b14/9",
  "deckHref": "/decks/019de06f-e127-764f-8dcc-a707a7dd4b14",
  "deckJsonHref": "/decks/019de06f-e127-764f-8dcc-a707a7dd4b14.json",
  "deckAnchorHref": "/decks/019de06f-e127-764f-8dcc-a707a7dd4b14#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.2,
        "x": 0.75,
        "y": 0.55
      },
      "kind": "callout",
      "text": "Limited changes in selected company betas were observed over the period August 20, 2019 to September 3, 2019",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "732c7704-f56a-4936-8b86-de53e49e37f0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "disclaimer",
      "text": "Note: No company used in this calculation for comparative purposes is identical to Poconos. 1. Per discussions... 2. Based on actual levered beta... 3. Unlevered Beta... 4. Enterprise Value... Sources: Bloomberg and Capital IQ.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2b49ff2-3f68-401b-80d0-c233960d8dc0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "The following market changes to the weighted average cost of capital computations and associated analyses have resulted since the prior discussion materials...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "81a505bf-9473-4dbd-9aed-f572dd414244",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.65,
        "x": 0.05,
        "y": 0.42
      },
      "kind": "table",
      "text": "Table showing levered and unlevered betas for Drilling Services and Well Services companies as of 8/20/19 and 9/3/19.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "849a67c4-f624-4f47-8115-f45cc9ff0e04",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Selected Changes from August 23, 2019 Discussion Materials",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a970e46c-c2db-4a85-9b35-7f0b6117f711",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.05,
        "y": 0.38
      },
      "kind": "title",
      "text": "Change in Betas of Selected Companies",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b3168f08-0b72-4390-98cb-6a9592094d1f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.1
      },
      "kind": "title",
      "text": "Weighted Average Cost of Capital Calculations",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0311a036-fe6c-4679-9dc2-9da22b9d26cb",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 15,
      "from": 6,
      "beatId": "b9d0d5f5-10be-4263-835e-076586cf9a5a",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Problem & Complication",
      "beatSlug": "consultants-gambit-problem-complication",
      "evidence": "The deck presents financial analysis and market data to highlight the client's challenges",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [
    {
      "to": 15,
      "from": 6,
      "name": "Logic Chain",
      "slug": "01-logic-chain",
      "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
      "matchId": "60ae0fb3-3e26-43b2-8e5e-25586338bc87",
      "evidence": "The deck presents a logical chain of financial data and analysis to support Houlihan Lokey's approach",
      "position": 0,
      "objective": "Understand the client's financial situation and market position",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
      "confidence": 0.7,
      "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}