{
  "docId": "019de073-5ba1-70c8-bac4-240d60879f83",
  "docSlug": "2f899ca908580f81d1c9f0a4c9f489c1",
  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 41 slides",
  "authorId": "morgan-stanley",
  "authorName": "Morgan Stanley",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 28,
  "pageCount": 41,
  "prevPage": 27,
  "nextPage": 29,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 66,
  "notes": "The slide uses a waterfall chart structure to show the bridge between EBITDA and FCF, including NWC changes and capital expenditures.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-5ba1-70c8-bac4-240d60879f83/28",
  "deckHref": "/decks/019de073-5ba1-70c8-bac4-240d60879f83",
  "deckJsonHref": "/decks/019de073-5ba1-70c8-bac4-240d60879f83.json",
  "deckAnchorHref": "/decks/019de073-5ba1-70c8-bac4-240d60879f83#slide-28",
  "components": [
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.68
      },
      "kind": "chart",
      "text": "CY2021A Waterfall",
      "attrs": null,
      "subkind": "waterfall",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5ee4abdf-9041-4b1f-ba22-2373cb7f22cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.22
      },
      "kind": "chart",
      "text": "CY2019A Waterfall",
      "attrs": null,
      "subkind": "waterfall",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aec353ea-d00e-4170-9db9-5d21b3ad521b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.45
      },
      "kind": "chart",
      "text": "CY2020A Waterfall",
      "attrs": null,
      "subkind": "waterfall",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e9e32dfd-8acc-4cb0-86c7-135a053e6548",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.5,
        "x": 0.05,
        "y": 0.91
      },
      "kind": "disclaimer",
      "text": "Note: Change in deferred commissions net of deferred commissions amortization to reflect broker treatment of projections",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e8d64bdc-b8d9-46e8-b1ed-d3b7f10243ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.05,
        "y": 0.11
      },
      "kind": "title",
      "text": "Adjusted EBITDA to Free Cash Flow Reconciliation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c74e9978-5412-4d36-bc1d-dd17836a16f8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "fc110f00-62ce-40b1-a2a0-affa8d668721",
      "evidence": "CY2019A Waterfall",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-chart",
      "slug": null,
      "matchId": "4fb4da32-803f-429b-bcf5-afba3b01c062",
      "evidence": "Visual representation of sequential adjustments to a starting value to reach a final value.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 41,
      "from": 27,
      "beatId": "0dc86bcd-e2ce-4835-979a-3cdc0bb2ad6e",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The deck provides appendix data, adjusted EBITDA to free cash flow reconciliation, and WACC calculation.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}