Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

Monday, March 11, 2019
Big Moves in Goodwill, Intangible Value

Friday, March 8, 2019
CVS, Goodwill, and Enterprise Value

Thursday, February 28, 2019
Summary of Our Goodwill Research/ How-To

Wednesday, February 27, 2019
What Does ‘Other’ Mean? An Example

Thursday, February 21, 2019
Another Tale, Buried in the Footnotes

Wednesday, February 13, 2019
Low Latency Calcbench

Monday, February 11, 2019
Now Streaming on Hulu: Red Ink

Thursday, February 7, 2019
Early Look at 2018 Tax Decline

Wednesday, February 6, 2019
You Revised WHAT, Netflix?

Thursday, January 31, 2019
Talking About Huawei Exposure

Wednesday, January 30, 2019
Another Discrepancy in Reported Numbers

Wednesday, January 30, 2019
Finding Revised Facts: Hertz Edition

Wednesday, January 23, 2019
GE Commercial Aviation Services: Bringing Numbers to Light

Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

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Quick Analysis of MSFT buying LNKD
Monday, June 13, 2016

So someone pulled the trigger on a purchase of a social media firm. Microsoft announced a deal to acquire Linked IN this morning for $26.2 billion.

Here are some initial data on the purchase:

Purchase Price $26.2 Billion

Per Share (based on 2015 End of Year diluted shares out): $203.06

What did Microsoft buy in terms of fundamentals?

Linked in ROE = -3.72%

Adjusted ROE = -11.7%

Return on Net Operating Assets = 24.8%

Return From Leverage = -15.2%

Return from Other = -21.3%

A hefty price to pay no doubt, but at least the operations are profitable.

** All metrics were run using Calcbench tools. The percentages were developed using the calcbench excel add-in, along with a valuation model that we have developed.

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