{
  "docId": "019de074-50c0-76cb-b097-c7b0eb98ba2e",
  "docSlug": "c32259a8fff86fda2f9cb093ab59b71b",
  "documentTitle": "Citi | Investment Banking Pitch Book | 21 slides",
  "authorId": "citi",
  "authorName": "Citi",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2023-02-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 21,
  "pageCount": 21,
  "prevPage": 20,
  "nextPage": null,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 35,
  "notes": "Includes specific assumptions for equity market risk premiums and capital structure ratios.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de074-50c0-76cb-b097-c7b0eb98ba2e/21",
  "deckHref": "/decks/019de074-50c0-76cb-b097-c7b0eb98ba2e",
  "deckJsonHref": "/decks/019de074-50c0-76cb-b097-c7b0eb98ba2e.json",
  "deckAnchorHref": "/decks/019de074-50c0-76cb-b097-c7b0eb98ba2e#slide-21",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.42,
        "x": 0.02,
        "y": 0.795
      },
      "kind": "paragraph",
      "text": "The low-end of the WACC is based upon the low-end of the equity market risk premium (6.5%) and the high-end of the net debt / total capital ratio. The high-end is based on the high-end of the equity market risk premium (7.5%) and the low-end of the capital structure.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ce4e4514-41be-4d7a-843b-cc6b0bf31368",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.02,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: ALR Management, public filings, Wall Street Research, Bloomberg and FactSet as of 02/02/2023.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "62eae1f6-3a99-4c88-8e0a-ecd347345f09",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.53,
        "x": 0.45,
        "y": 0.26
      },
      "kind": "table",
      "text": "Cost of Equity-Related Metrics table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9dd5dfb5-4cb5-4c98-a134-327c6ccff9a8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.53,
        "x": 0.45,
        "y": 0.08
      },
      "kind": "table",
      "text": "Cost of Net Debt-Related Metrics table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a649ff68-dc76-4014-bd7a-164479e44c39",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.42,
        "x": 0.02,
        "y": 0.12
      },
      "kind": "table",
      "text": "WACC Calculation Inputs table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fe9b0722-9497-4b5b-ac58-d7fc431f8e14",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.25,
        "x": 0.02,
        "y": 0.02
      },
      "kind": "title",
      "text": "WACC Calculation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "00f532f7-88ea-4819-a6a7-82d49ab23f3c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "5103b30b-8cda-48e1-8ded-eec159921cc1",
      "evidence": "The slide contains multiple tables with data, including 'Cost of Net Debt-Related Metrics table', 'Cost of Equity-Related Metrics table', and 'WACC Calculation Inputs table'.",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 21,
      "from": 16,
      "beatId": "f3449fbf-4f72-4b61-ad41-e5d9ed89c215",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The 'Appendix (For Informational Purposes)' and subsequent slides imply next steps and further analysis.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}