Recalc

Paper LBO Calculator

Input your assumptions and see a complete LBO model in real-time

Operating Assumptions

Deal Assumptions

Purchase Price

$M
Y0 EBITDA
15.0
Entry Mult
10.0x
Purchase Price
150.0

Uses

$M
Purchase Price
150.0
Cash to BS
2.0
Total Uses
152.0

Sources

$M
Debt
75.05.0x
Equity
77.0
Total Sources
152.0

Income Statement

Line itemY0Y1Y2Y3Y4Y5CAGR
Revenue100.0110.0121.0133.1146.4161.110.0%
YoY %-10.0%10.0%10.0%10.0%10.0%
Gross Profit60.066.072.679.987.896.610.0%
GM%60.0%60.0%60.0%60.0%60.0%60.0%
OpEx45.049.554.559.965.972.510.0%
% of sales45.0%45.0%45.0%45.0%45.0%45.0%
EBITDA15.016.518.120.022.024.210.0%
% margin15.0%15.0%15.0%15.0%15.0%15.0%
(-) D&A1.71.82.02.22.4
EBIT14.816.318.019.821.7
(-) Interest7.57.26.86.25.6
Pre-Tax7.39.111.213.516.2
(-) Taxes2.22.73.44.14.9
Net Income5.16.47.89.511.3

Cashflow

Line itemY0Y1Y2Y3Y4Y5
Net Income5.16.47.89.511.3
(+) D&A1.71.82.02.22.4
(-) Chg in NWC(1.5)(1.7)(1.8)(2.0)(2.2)
(-) CapEx(2.2)(2.4)(2.7)(2.9)(3.2)
CF before debt3.14.15.46.78.3
(-) Debt Repay(3.1)(4.1)(5.4)(6.7)(8.3)
Cashflow-----
Cash - BOP2.02.02.02.02.0
(+) Cashflow-----
Cash - EOP2.02.02.02.02.02.0

Balance Sheet Schedules

Line itemY0Y1Y2Y3Y4Y5CAGR
NWC15.016.518.220.022.024.210.0%
% of sales15.0%15.0%15.0%15.0%15.0%15.0%
CapEx2.02.22.42.72.93.210.0%
% of sales2.0%2.0%2.0%2.0%2.0%2.0%
Depreciation1.51.71.82.02.22.410.0%
% of sales1.5%1.5%1.5%1.5%1.5%1.5%

Debt

Line itemY0Y1Y2Y3Y4Y5
Debt - BOP75.071.967.862.455.7
(-) Repayment(3.1)(4.1)(5.4)(6.7)(8.3)
Debt - EOP75.071.967.862.455.747.3
Interest7.57.26.86.25.6
Net Debt73.069.965.860.453.745.3

Returns

Y5
Exit EBITDA24.2
Exit Multiple10.0x
Exit TEV241.6
(-) Debt(47.3)
(+) Cash2.0
Exit Equity196.2
Equity In77.0
Equity Out196.2
MOIC2.5x
IRR20.6%
$ Profit119.2