Discounted Cash Flow - Publications - Faculty & Research

January 2022
Technical Note

Introduction to Capital Structure Analytics

This technical note provides an overview of key analytical approaches that are useful in assessing the appropriateness of a firm’s capital structure and funding plan. This note introduces basic quantitative tools and metrics that are commonly used as inputs to this... View Details

Keywords: Budgets and Budgeting; Business Plan; Forecasting and Prediction; Borrowing and Debt; Corporate Finance; Capital Structure; Cash Flow; Financial Liquidity; Financial Management; Financing and Loans

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HBS - Financials | From the Chief Financial Officer

2022 Annual Report From The Dean Key Metrics Financials PDF Downloads Financials From the CFO Financial Highlights Statement of Activity & Cash Flows Consolidated Balance Sheet Supplemental Financial... View Details

23 Jan 2018
First Look

First Look at New Research and Ideas, January 23, 2018

work pace patterns provide evidence for a time discounting mechanism: workers discount idle time when it is relatively distant but act to avoid it increasingly as it becomes more proximate. Finally, Study 4... View Details

Keywords: Sean Silverthorne

11 Mar 2014
First Look

First Look: March 11

our sample). August 2013 Marketing Letters To Groupon or Not to Groupon: The Profitability of Deep Discounts By: Edelman, Benjamin, Sonia Jaffe, and Scott Duke Kominers Abstract—We examine the profitability and implications of online... View Details

Keywords: Sean Silverthorne

20 Mar 2020
Research & Ideas

How Small Businesses Can Survive the Coronavirus Outbreak

highly infectious virus, also known as COVID-19. Without incoming cash, many small businesses—especially restaurants and shops on American Main Streets—will soon need to cut staff or shut down for good. “To many of these small businesses, daily View Details

Keywords: by Danielle Kost; Service; Food & Beverage

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Preview the Harvard Business School Online Learning Experience

Financial Statement Templates This resource provides a primer on the balance sheet, income statement, and cash flow statement, along with templates to create them yourself. Download for Free Who will... View Details

April 2011 (Revised June 2011)
Case

Internet Securities, Inc.: Path to Sustainability

By: Lynda M. Applegate, William R. Kerr and Ryan Johnson

Founded in 1994 when the Internet was still a "toy for techies," the case is set in 1998 when Internet IPOs were red-hot. Internet Securities provides hard-to-find financial, business, economic, and political information on emerging markets. Information from over 600... View Details

Keywords: Acquisition; Business Model; Business Startups; Decision Choices and Conditions; Venture Capital; Cash Flow; Initial Public Offering; Analytics and Data Science; Growth and Development Strategy; Valuation

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January 2011
Supplement

Matrix Capital Management (B)

By: Malcolm P. Baker and David Lane

Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their investment in Rovi Corporation, a company with a diverse portfolio of patents used primarily for digital interactive guides. Rovi's shares are up over 50% from the time Balbale... View Details

Keywords: Public Ownership; Cash Flow; Management Analysis, Tools, and Techniques; Investment Funds; Financial Strategy; Valuation; Partners and Partnerships; Markets; Performance Efficiency; Patents; Stock Shares; Decisions; Financial Services Industry

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March 2010
Teaching Note

Rosetree Mortgage Opportunity Fund (TN)

By: Victoria Ivashina and Andre F. Perold

Teaching Note for [209088]. View Details

Keywords: Financial Crisis; Crisis Management; Capital; Mortgages; Mergers and Acquisitions; Valuation; Borrowing and Debt; Cash Flow; Bids and Bidding; Financing and Loans; Restructuring; Financial Markets; United States

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01 Sep 2015
News

Case Study: Golden Ticket

long-term “strategy” is fun to talk about but rarely works out the way you planned it. I would focus on proving out the revenue (and profit) model and trying to get to cash flow breakeven by delighting the... View Details

October 2017
Teaching Note

Canadian Pacific's Bid for Norfolk Southern

By: Benjamin C. Esty and E. Scott Mayfield

Teaching Note for HBS No. 216-057. View Details

Keywords: Capital Structure; Cash Flow; Cost of Capital; Financial Strategy; Investment Activism; Bids and Bidding; Negotiation Offer; Corporate Strategy; Rail Transportation; Mergers and Acquisitions; Transformation

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April 2016
Supplement

Canadian Pacific's Bid for Norfolk Southern Spreadsheet Supplement

By: Benjamin C. Esty and Scott Mayfield

In December 2015, Canadian Pacific Railroad (CPR) has just made its third bid to acquire Norfolk Southern Corporation (NSC), one of the largest railroads in the United States. Having rejected the prior offers, NSC’s CEO James Squires and the NSC board must now value... View Details

Keywords: Capital Structure; Cash Flow; Cost of Capital; Financial Strategy; Investment Activism; Bids and Bidding; Negotiation Offer; Corporate Strategy; Rail Transportation; Mergers and Acquisitions; Transformation; United States; Canada

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29 Jan 2008
First Look

First Look: January 29, 2008

suggest they are). What's stifling innovation? There are plenty of usual suspects, but the authors finger three financial tools as key accomplices. Discounted cash flow and net... View Details

Keywords: Martha Lagace

06 Nov 2018
First Look

New Research and Ideas, November 6, 2018

average, NPEs appear to behave as opportunistic “patent trolls.” NPEs sue cash-rich firms and target cash in business segments unrelated to alleged infringement at essentially the same frequency as they target View Details

Keywords: Dina Gerdeman

01 Dec 2008
News

Seth Klarman

a mountain of cash — 40 to 50 percent of Baupost’s $14 billion–plus in assets — for several years, the firm’s recent investments have cut its cash stash in half. Distress selling, it seems, breeds the kind... View Details

Keywords: Roger Thompson; Finance

13 Dec 2018
Blog Post

"I Wanted to Move from Analyzing Results to Creating Them": Cynthia Samanian, MBA 2012

content. The plan was to grow an audience of sufficient size to attract advertisers but, she says in retrospect, "It wasn't the right business model for me." Cynthia knew she wanted a positive cash View Details

01 Feb 2000
Research & Ideas

Keeping Track: Performance Measurement, Control & Strategy

value. [Please see [graphic.] A unique aspect of profit wheel analysis is that it interlocks with two other wheels that analyze cash flow and return on equity. Many companies are paying attention to one of... View Details

Keywords: Re: Robert Simons

15 Feb 2017
Op-Ed

What Africa Can Teach the United States About Funding Infrastructure Projects

hard to quantify (the whole society might get cleaner air, faster transit, more dependable electricity, a more robust economy, but these aren’t all cash flow to the promoter). Why, then, can Africa teach the... View Details

Keywords: by John Macomber; Construction

19 Jun 2012
First Look

First Look: June 19

model that makes sense for retail operators without subsidy. Using a franchising model that relies on seasoned local entrepreneurs, communication technology that monitors flows and quality, payment technology that takes View Details

Keywords: Sean Silverthorne