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Capital Markets vs. Investment Banking: Deals, Careers, Recruiting, Exits, and Offer Decisions

Mergers and Inquisitions

Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. The questions usually go like this: Are capital markets teams (ECM, DCM, and LevFin) “real” investment banking?

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Methods and Examples on How to Value a Company

Lake Country Advisors

Common Valuation Methods Understanding valuation methods is essential to accuracy as they structure your approach to evaluating various aspects of a business, from financial performance to market position. Market Capitalization Market capitalization is one of the simplest and most commonly used methods for valuing a publicly traded company.

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Infrastructure Investment Banking: Definitions, Deals, and a Dizzying Diversity of Verticals

Mergers and Inquisitions

Capital Markets: Companies in most of these verticals use high leverage because they tend to own and operate assets with predictable/stable cash flows that are often locked in by long-term leases or power purchase agreements (PPAs). DCF: Deducts the full Interest Expense and deducts only Maintenance CapEx.

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Project Finance vs. Corporate Finance: Careers, Recruiting, Financial Modeling, and More

Mergers and Inquisitions

The term “Project Finance” at large banks refers to a group that operates like Debt Capital Markets or Leveraged Finance but for infrastructure rather than normal companies. This Exit EBITDA Multiple is based on the company’s performance at that time, such as its growth rates, margins, and Return on Invested Capital (ROIC).