slides · global inventory
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Matching slides 60,568
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26,941-26,970 of 60,568
04
The slide uses a comparison table structure to contrast the three business units.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
17
The slide uses a specific valuation adjustment to demonstrate that P/E ratios are misleading for this industry.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
24
EBITDA is adjusted for non-cash asset impairment associated with store closures.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor Beat · Solution1 hit
25
The table calculates the 'Music Impact' and shows the adjusted SSS performance.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor Beat · Solution1 hit
27
The table calculates ROIC for the first year of remodel activity, incorporating incremental sales, margin benefits, and net remodel costs.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor Beat · Solution1 hit
30
The slide reconciles reported EBITDA with Pro Forma EBITDA by adding back specific one-time costs.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
37
The slide uses a 'worth more dead than alive' framing to argue for liquidation or divestiture based on capital efficiency.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
41
The slide compares NWC to EBITDA to suggest liquidation value might exceed operational value.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
48
The slide calculates valuation multiples for 2008E based on a $36 share price, adjusting for specific equity value components.Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
49
Borders Group, Inc. (BGP)Borders Group, Inc. (BGP) · William Ackman
Conference presentation Activist investor 1 hit
03
McDonald's Corporation (MCD)McDonald's Corporation (MCD) · William Ackman
Activist deck Activist investor 1 hit
10
The QSR index significantly outperforms both McDonald's and the S&P 500 over the 5-year period.McDonald's Corporation (MCD) · William Ackman
Activist deck Activist investor Beat · Problem & Complication1 hit
11
The slide uses a 'Pershing Square' logo in the top left corner. The data is based on 30-day average trailing prices as of 11/11/05.McDonald's Corporation (MCD) · William Ackman
Activist deck Activist investor Beat · Problem & Complication1 hit
15
The slide uses a hierarchical structure to categorize business units and then compares them across four key financial metrics.McDonald's Corporation (MCD) · William Ackman
Activist deck Activist investor Beat · Evidence & Proof1 hit
16
Uses a before-after bridge to illustrate the impact of accounting adjustments on segment EBITDA contribution.McDonald's Corporation (MCD) · William Ackman
Activist deck Activist investor Beat · Evidence & Proof1 hit
20
The slide uses a before-and-after adjustment to reclassify EBITDA, highlighting the underlying value of the brand versus company-operated restaurants.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · Solution1 hit
26
The slide uses a matrix structure to categorize stakeholder-specific risks associated with the proposed McOpCo IPO.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · Solution1 hit
30
The slide uses a grid structure to map stakeholder-specific concerns against thematic categories.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · Solution1 hit
37
The slide uses a comparison framework to contrast current issues with the benefits of the proposed spin-off.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · Solution1 hit
38
The slide argues for a valuation multiple of 12.5x-13.5x EV/2006E EBITDA based on peer similarity.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · SolutionLoop · Mece Breakdown1 hit
40
Includes a callout box explaining the underlying EBITDA assumptions and the resulting stock price range.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · SolutionLoop · Mece Breakdown1 hit
41
The slide uses a specific FCF calculation methodology defined in the text block.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor Beat · Solution1 hit
48
The table illustrates the allocation of costs and revenue to demonstrate that McOpCo is not paying market rates for rent or franchise fees.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
49
Includes specific annotations (blue arrows) highlighting inter-company eliminations for rent and franchise fees.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
52
The slide uses a yellow callout box to emphasize the key takeaway regarding tax liability.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
53
The slide explicitly states the assumption that no incremental debt is issued post 9/30/2005.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
54
Includes pro forma adjustments for share buybacks and minority interest.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
55
McDonald's Corporation (MCD)McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
56
The table compares current valuation metrics against a post-IPO scenario for McOpCo, showing an implied share price premium.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit
57
The slide provides a breakdown of unit-level economics comparing US McOpCo, International McOpCo, and US Franchisee units.McDonald's Corporation (MCD) · Pershing Square Capital Management
Activist deck Activist investor 1 hit