Valuation Intelligence
Automated valuation method selection powered by Greenwald (EPV), Greenblatt (Special Situations), Damodaran (DCF), and 52 Marlowe investment briefs.
Case Study Library
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For subscription businesses with negative working capital, separate the economic FCF from the working capital benefit. The WC benefit is a DCF item, not a multiple item.
For high-quality SaaS, the trough FCF multiple is the key reference point. If you can buy at trough multiples during market dislocations, downside is limited.
When capacity expansion masks true earnings power, project forward to normalized margins. Blue Buffalo achieved mid-20s operating margins with mid-40s gross margins - Freshpet following same trajectory.