{
  "docId": "019de073-8ecf-767d-8da1-92c2edeeb754",
  "docSlug": "615796c2ee7cde8eb6c96842963f4ee0",
  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 30 slides",
  "authorId": "morgan-stanley",
  "authorName": "Morgan Stanley",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-09-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 12,
  "pageCount": 30,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 150,
  "notes": "Includes sensitivity tables for Share Price, Implied Exit Multiples, and Revenue/FCF. Data is presented in $MM.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-8ecf-767d-8da1-92c2edeeb754/12",
  "deckHref": "/decks/019de073-8ecf-767d-8da1-92c2edeeb754",
  "deckJsonHref": "/decks/019de073-8ecf-767d-8da1-92c2edeeb754.json",
  "deckAnchorHref": "/decks/019de073-8ecf-767d-8da1-92c2edeeb754#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.3,
        "x": 0.05,
        "y": 0.65
      },
      "kind": "chart",
      "text": "Share Price Sensitivity table",
      "attrs": null,
      "subkind": "heatmap",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "515f2156-8323-4142-b023-6ef4096637d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.3,
        "x": 0.65,
        "y": 0.65
      },
      "kind": "chart",
      "text": "Revenue and FCF Sensitivity table",
      "attrs": null,
      "subkind": "heatmap",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cb2c0d1f-06f2-4bcd-bf49-25862a2c13aa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Notes 1-6 regarding management case, extrapolations, and assumptions.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2ce7f011-eee9-435b-a8e8-9a8ebc82bc72",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.37,
        "y": 0.65
      },
      "kind": "table",
      "text": "Implied Exit Multiples table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f114ae53-757d-4d70-a20d-131e9c9dec3e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.23
      },
      "kind": "table",
      "text": "Preliminary Discounted Cash Flow Analysis table",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "69b9a1ea-8e35-4017-9bad-d98bef9f7288",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.35,
        "x": 0.05,
        "y": 0.11
      },
      "kind": "title",
      "text": "Discounted Cash Flow Analysis",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1460cf61-adcc-4307-bbd6-70928ab4ed0e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Valuation: DCF",
      "slug": "dcf",
      "agent": "architect",
      "layer": "slide",
      "matchId": "9f5f5df1-514a-466a-ad8a-ee1c3d0e59af",
      "evidence": "Preliminary Discounted Cash Flow Analysis table",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "sensitivity_analysis",
      "slug": null,
      "matchId": "520cf5d5-802d-4d25-81a3-0f2fea05b54c",
      "evidence": "Multiple tables showing impact of changing variables on valuation",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 14,
      "from": 9,
      "beatId": "af292a13-8988-40e9-8d63-e6c7b160c373",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The deck provides a detailed financial analysis, valuation summary, and precedent transaction data.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 14,
      "from": 9,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "38575af7-106b-4fea-a3d2-e93184fd2305",
      "evidence": "The deck provides a detailed financial analysis and valuation summary to support the hypothesis test.",
      "position": 1,
      "objective": "To test the hypothesis that Orange's valuation is attractive.",
      "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
}