Assume a steady-state tax rate of 15 percent and apply a multiple of 18 times, roughly in line with the price-to-earnings ratios of traditional asset managers, and these fees are worth nearly $3 billion on their own.
If one applied a multiple of 12 times to last year's Ebitda, the Blackhawk unit has an implied enterprise value of $936 million, Jonathan P. Feeney, an analyst with Janney Capital Markets, wrote in a research note to clients.
For instance, it found that German retailers of fashion accessories work on mark-ups of roughly 2.5 times the wholesale price, whereas Italian ones apply a multiple of 2.15 and their French counterparts of 2.29.
Robert Waxman, a partner at Corporate Finance Advisory, says, "I would apply a multiple of one to those earnings".
To that figure, we apply a multiple of ten reasonable because Yahoo has a business model that requires relatively little capital.
An observational analytic study of 60 diabetic type 2. Systematized alcatory sampling, applying a multiple logistical regression analysis (JMP of the SAS Institute program).
Because of the loss of power due to randomization of schools (and not students) and the increase in error because of applying a multiple imputation procedure to fill in missing values, 183*1.4 = 256 respondents per condition (intervention and control) needed to be included at baseline to test the effectiveness of the Dutch Preventure programme.
After using a Spearman correlation test followed by applying a multiple testing correction at a FDR of 5%, we found 1,847 genes to be positively correlated and 1,445 genes to be negatively correlated with TWIST1 mRNA expression (Additional file 3: Table S9A, B).
The p-values displayed in the following were computed by applying a multiple-hypotheses correction of the form: 2 where p e is the empirical p-value and N is the number of leaves.
Because this attrition was mainly due to non-response on income, we applied a multiple imputation of income and obtained similar results.
