On the left-hand side of these two charts we see two mature automobile companies with essentially no growth
- their Automotive Revenues are around $220~250 billion
- their Full Enterprise Values FEV are around $580~600 billion
This gives an FEV / Automotive Revenues Multiple of about 2.5x
This "mature company" Revenue Multiple will tend to be higher for higher Operating Profit Margins and vice versa
- and it can be a helpful to provide a "first estimate" of other auto companies' FEV at maturity
So if you can project the future Revenues of an auto company out to the point where it can be expected to have no more growth, then you can use it to give you a first estimate of that company's future value
- which you can then discount back to the present
Remember that under this analysis and definition of Full Enterprise Value FEV :
Equity Value EV = Full Enterprise Value FEV - Total Liabilities
"Total Liabilities" = Debt + all other liabilities shown on the Balance Sheet
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“The FBI does not have a prayer of a chance of finding out who is who"
Bitcoin’s anonymity is also a powerful tool for financing crime : The virtual money can keep shady transactions secret
But things have evolved since then
The Federal Bureau of Investigation FBI and other law enforcement agencies have been active :
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Just four self-driving Mondeos will be introduced in Birmingham
As in Oxford, the cars will be fitted with lidar, radar and stereo cameras and autonomy software provided by autonomous vehicles firm Oxbotica
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General Motors is mum on a high-profile, albeit small investment in startup electric truck maker Lordstown Motors as the startup teeters on the edge of extinction
In a government filing Tuesday, Lordstown Motors said it doesn't have enough money to start commercial production and it has doubts whether it can continue as a going concern through the end of the year