SpaceX's $80B War Chest Enables Rapid Revenue Surge
If SpaceX is valued at $1.5T on $20b revenue run rate, which increases to $32b with the Anthropic data center leases, then its valued at 46x revenues Cursors is doing $3b in revenue and with its $60b acquisition of 20x revenues, so its nicely accretive Elon compounds his wealth at 41% per year So to grow revenue from $35b by 410% by next year (~$14b new revenue), he just needs one more Anthropic sized deal to clear that hurdle SpaceX has $15b in cash on hand right now and the IPO would raise up to $65b With an $80b war chest, growing revenue $14b is a breeze. You could do one more Anthropic sized deal, maybe even with Anthropic. I suspect most of that $80b is going to continue to go to data center capacity. If he unlocks structural cost advantage with space data centers, all bets are off (in a good way).
Essential Financial Models Every Pro Must Master
Top 5 Financial Models Every Finance Professional Should Know 👇 1. Discounted Cash Flow (DCF) Model – Used to estimate the intrinsic value of a company. 2. Three-Statement Model – Connects income statement, balance sheet, and cash flow statement. 3. Budgeting & Forecasting...
GAAP Earnings Rare Gems in Adjusted-Number Market
The level of shock and awe at using adjusted numbers is surprising. I’m not endorsing adjusted earnings as a reliable valuation approach, but the entire market is priced this way. It’s the norm not the exception. Finding a good +...
Predictable Pricing Beats Complexity for Enterprise SaaS
🚀 New SaaS CFO Podcast episode with Ankur Goyal from Fibr AI! We covered fundraising timing, enterprise SaaS sales, and why predictable pricing still wins with large customers. Watch here 👇 https://t.co/eyhoZxRelQ #SaaS #AI #Startup #B2B https://t.co/xNRqSzPBTf
ROIC's Denominator: Net Assets vs Financing Mix
Michael Mauboussin on the 2 ways to calculate ROIC "You can think of invested capital, the denominator of the ROIC calculation, in two ways that are equivalent. The first is the net assets a company needs to generate NOPAT. The second...
SpaceX S‑1 Files at 107× Revenue, S&P’s Costliest Stock
SpaceX S-1 has been filed LTM revenue of $18.7 billion with a 33.2% growth rate EBIT loss of -$2.6 billion Net loss of -$5 billion At a $2 trillion valuation, will be trading at a 107x LTM revenue multiple If added to the S&P 500,...
Nvidia Hikes Dividend, Launches $80B Buyback
Nvidia is boosting its quarterly cash dividend from $0.01/share to $0.25/share It is also doing an $80 billion stock buyback https://t.co/hsHTmmhcPC
Easy New 20y Auction, Positive TU Futures Roll
Should be an easy new 20y auction today with the backup in yields which will set up an interesting futures roll next week where the TU contract finally has a positive roll (2.5). Also, TU and FV could still...
Value Emerges When Every Dollar Beats Cost of Capital
Michael Mauboussin on the One Dollar Test "A company creates value when one dollar invested in the business is worth more than one dollar in the market. This happens when the firm is able to make investments that generate a return...
Crocs: $4.7B Cash‑flow Machine, Not Just a Fad
Day 28 of 30: How $CROX Crocs actually makes money Most people think they just sell a passing fad of ugly foam clogs They don't...they are quietly running a $4.7 billion cash-flow machine with some of the best profit margins in apparel Here...
Company Nears ₹35,000‑Crore SBI Loan for 4G, 5G Expansion
Fundraising Progress: The company is reportedly in advanced discussions with a State Bank of India (SBI)-led consortium for a massive ₹35,000-crore loan to fund 4G expansion and 5G rollout.
Knicks, Rangers Filing Split to Unlock $13.5B Value
The proposed business split of the Knicks & Rangers took its next step Monday with a Form 10 SEC filing. The goal is to unlock shareholder value for teams worth a combined $13.5 billion, per @Sportico's latest valuations. https://t.co/TzpyOgqWvw
Analysts' DCFs Rely on Guesswork, Not Valuation
Munger called it plainly: most analysts don't value a business. They pick a growth rate, plug it in, and let the spreadsheet do the lying for them. Terminal value is 80% of your DCF output. That's not a model. That's a guess...
Basel III Overhaul Redefines Bank Capital, Stress Test Rules
OUT NOW - incredibly deep dive on the massive new changes for Basel III implementation: significant consequences for bank capital rules for Stress Tests, GSIB Surcharges, mortgage/corp loan risk-weights Apple 🔊https://t.co/u0VXsrSK15 Spotify 📽️https://t.co/ExMyPkPRcY https://t.co/KTZbO1LAUt
CFOs Say Yes To Seven Proven Value Drivers
I've spent years interviewing CFOs at companies ranging from $100M to several billion in revenue. Every conversation eventually leads to the same question: what actually gets you to say yes? The answers consistently land in seven categories. Cost reduction. Productivity improvement with a...