{
  "docId": "019de073-33e8-703e-ba5c-bd7769ff1d41",
  "docSlug": "5b824599f052085c21bcf2f50024981a",
  "documentTitle": "TD Securities | Investment Banking Pitch Book | 43 slides",
  "authorId": "td-securities",
  "authorName": "TD Securities",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-07-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 39,
  "pageCount": 43,
  "prevPage": 38,
  "nextPage": 40,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 18,
  "notes": "The slide uses a football field chart to visualize valuation ranges.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-33e8-703e-ba5c-bd7769ff1d41/39",
  "deckHref": "/decks/019de073-33e8-703e-ba5c-bd7769ff1d41",
  "deckJsonHref": "/decks/019de073-33e8-703e-ba5c-bd7769ff1d41.json",
  "deckAnchorHref": "/decks/019de073-33e8-703e-ba5c-bd7769ff1d41#slide-39",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.2,
        "x": 0.58,
        "y": 0.75
      },
      "kind": "callout",
      "text": "Unaffected Price: $25.68, Rio Proposal: $34.00, Current: $34.42",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "04ab2b3b-9104-4c53-a5a4-f000f118c12d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.3,
        "x": 0.55,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Football field chart showing valuation ranges for P/NAV, EV/EBITDA, and trading ranges.",
      "attrs": null,
      "subkind": "bar-horizontal",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d21175a7-e002-4abb-828f-b4eeb9b8e776",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.15,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Capital IQ, Company management, public filings and research analysts. Note: Market data as at July 5, 2022.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6be2eaa3-265f-4f3d-8e96-af13736246e2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.7,
        "x": 0.15,
        "y": 0.23
      },
      "kind": "table",
      "text": "Methodology, Multiple Range, Metric (Attrib.), Preliminary Indications of Value (C$/sh)",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f3b3f7a-2419-4a1f-a363-e6f31a665ca6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.35,
        "x": 0.15,
        "y": 0.09
      },
      "kind": "title",
      "text": "Preliminary Indications of Value",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7149e8bd-4fb9-4593-a428-95bec15b2dbc",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "9d31ec3e-a8d6-49f4-8788-fd3472df160d",
      "evidence": "chart/bar-horizontal: Football field chart showing valuation ranges for P/NAV, EV/EBITDA, and trading ranges.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "valuation-football-field",
      "slug": null,
      "matchId": "f048a7e3-37d7-492a-9be8-a30cf426b0cd",
      "evidence": "Visual representation of multiple valuation ranges on a single axis",
      "confidence": 0.95
    }
  ],
  "arcBeats": [
    {
      "to": 43,
      "from": 30,
      "beatId": "d205692a-90ae-433e-8224-8aac82c9f9fc",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "Slides discuss sensitivity analysis, value conclusions, and next steps",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 40,
      "from": 39,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "9b8a44f4-f9ce-4320-af6d-0e2ae4da0a49",
      "evidence": "Slides perform sensitivity analysis on the valuation",
      "position": 2,
      "objective": "Test the valuation hypothesis through sensitivity analysis",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.7,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}