slides · global inventory
Show Valuation Bridge
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Matching slides 1,328
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451-480 of 1,328
59
The slide uses historical financial data to justify a valuation multiple for a target company.Porch Group Inc (PRCH) · Ben Axler
Activist deck Short seller Loop · Cost Of Inaction1 hit
63
The slide uses a variant valuation approach to argue that the equity could be worthless.Porch Group Inc (PRCH) · Ben Axler
Activist deck Short seller Loop · Cost Of Inaction1 hit
53
Includes a red flag callout regarding CEO selling activity.American Battery Metals Corporation / Comstock Mining Inc. (ABML / LODE) · Ben Axler
Activist deck Short seller Beat · The VictoryLoop · Cost Of Inaction1 hit
56
Includes a snippet of a property and equipment table from financial filings to support the 'two assets' argument.American Battery Metals Corporation / Comstock Mining Inc. (ABML / LODE) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
73
The slide uses a cash-based valuation approach to justify a bearish price target.American Battery Metals Corporation / Comstock Mining Inc. (ABML / LODE) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
77
The slide argues that Leidos's premium valuation is unwarranted due to accounting distortions and management issues.Leidos Holdings, Inc. (LDOS) · Ben Axler
Activist deck Short seller Beat · SolutionLoop · Cost Of Inaction1 hit
54
The table calculates price targets based on 6.5x-8.5x revenue multiples, resulting in a 27-46% downside from the current price of $27.30.Magnite, Inc. (MGNI) · Spruce Point Capital Management
Activist deck Short seller Beat · The Victory1 hit
84
The table uses two distinct valuation frameworks to arrive at a single-digit share price range.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Solution (Provide relief)1 hit
08
The slide uses a structured list format to present multiple pillars of an activist short thesis.Avery Dennison Corporation (AVY) · Ben Axler
Activist deck Short seller Beat · Problem1 hit
10
The table demonstrates the impact of adding back unfunded pension, operating leases, and environmental liabilities to the enterprise value.Avery Dennison Corporation (AVY) · Ben Axler
Activist deck Short seller Beat · ProblemLoop · Cost Of Inaction1 hit
14
The slide uses a bearish thesis to justify a significant price target reduction based on normalized financials.Avery Dennison Corporation (AVY) · Ben Axler
Activist deck Short seller Beat · ProblemLoop · Cost Of Inaction1 hit
89
Includes detailed adjustments for liabilities and commentary on consensus estimates vs. Spruce Point's view.Avery Dennison Corporation (AVY) · Ben Axler
Activist deck Short seller Beat · Solution1 hit
53
Includes a bridge-like logic showing how different sales multiples and pandemic adjustments lead to lower implied share prices.Forescout Technologies (FSCT) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
55
The slide uses a two-part valuation framework (Deal-Agnostic vs. Complete) to demonstrate downside risk.Forescout Technologies (FSCT) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
58
Includes red arrows indicating the flow of calculations between the two tables.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
122
The table calculates Equity Value and Value Per Share based on varying EBITDA multiples.Prestige Consumer Healthcare Inc. (PBH) · Ben Axler
Activist deck Short seller Beat · Expose ContradictionLoop · Cost Of Inaction1 hit
22
The slide highlights the company's net cash position and high valuation multiples relative to street estimates.Align Technology, Inc. (ALGN) · Ben Axler
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Cost Of Inaction1 hit
81
Includes a callout box highlighting additional risks to ASPs and multiples.Align Technology, Inc. (ALGN) · Ben Axler
Activist deck Short seller Beat · Solution (Provide relief)1 hit
95
Includes a comparison to Westrock as a precedent for multiple contraction.Amcor plc (pro forma Amcor-Berry Global combination) (AMCR) · Ben Axler
Activist deck Short seller Beat · Solution1 hit
71
The slide uses a 'villain' narrative framing (breaking the law, endangering lives) to contrast with financial performance.Cintas Corp. (CTAS) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
73
The slide uses a sum-of-the-parts (SOTP) valuation framework to justify a bearish price target.Cintas Corp. (CTAS) · Ben Axler
Activist deck Short seller Beat · The Victory1 hit
58
The slide highlights the discrepancy between market valuation and Spruce Point's bearish outlook based on FCF and revenue quality.Dropbox, Inc. (DBX) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Quick Win Big Bet1 hit
10
The slide uses a combination of a narrative thesis, a data table, and a concluding callout to frame the investment thesis.LHC Group, Inc. (LHCG) · Spruce Point Capital Management
Activist deck Short seller Beat · AgitateLoop · Cost Of Inaction1 hit
41
Includes a Bloomberg terminal screenshot showing historical EV/EBITDA expansion.LHC Group, Inc. (LHCG) · Spruce Point Capital Management
Activist deck Short seller Beat · SolutionLoop · Cost Of Inaction1 hit
102
The slide uses a sum-of-the-parts valuation approach to justify a significant downside for the stock.Canadian Tire Corporation (CTC.A) · Spruce Point Capital Management
Activist deck Short seller Beat · Solution (Provide relief)1 hit
80
The table highlights the discrepancy between consensus and Spruce Point's adjusted EBITDA and valuation multiples.Hill-Rom Holdings, Inc. (HRC) · Ben Axler
Activist deck Short seller Beat · Solution (Provide relief)1 hit
90
The slide uses a 'valuation bridge' logic to argue that current multiples are disconnected from fundamental performance.Monolithic Power Systems (MPWR) · Ben Axler
Activist deck Short seller Beat · Solution (Provide relief)Loop · Cost Of Inaction1 hit
88
The slide uses a 'valuation bridge' logic to argue that current multiples are disconnected from historical performance.Church & Dwight Co., Inc. (CHD) · Ben Axler
Activist deck Short seller Beat · SolutionLoop · Cost Of Inaction1 hit
92
Includes detailed footnotes explaining adjustments to EBITDA and rationale for multiple selection.Church & Dwight Co., Inc. (CHD) · Ben Axler
Activist deck Short seller Beat · SolutionLoop · Cost Of Inaction1 hit
64
Uses a 'CEO quote' to frame the argument that consensus is wrong.WD-40 Company (WDFC) · Ben Axler
Activist deck Short seller Beat · Expose Contradiction1 hit