In addition to IRS and taxation considerations, tax-exempt healthcare entities must comply with the same federal and state regulations regarding the transfer of property or services as for-profit entities. Outlined in The BVR/AHLA Guide to Healthcare Industry Finance and Valuation, 4th edition, the chapter author Robert F. Reilly, MBA, CPA/ABV/CFF, provides a brief overview of some of the regulatory considerations that a valuation analyst should be aware of in property or services transfer transactions. Read more >>

Mark Twain said there are “lies, damned lies and statistics.” Some valuation experts may be uncomfortable using statistics in an engagement. But you don’t have to be a statistics guru to successfully use them when the engagement calls for it. For instance, many damages litigations include the use of regression analyses and/or statistical sampling. Both are statistical methods of determining the amount of damages in a dispute. Read more >>

BVR’s most recent case study explains how a valuation professional used DealStats to help determine the value of an Italian restaurant and how the platform provided the real-world data necessary to arrive at a reliable value conclusion. Read more >>

How to write a business valuation report may seem an unlikely subject. However, several current trends reflect confusion in this area and make it surprisingly relevant. In BVR’s evergreen special report, “How to Write Bulletproof Valuation Reports,” expert valuator Sheri Schultz provides her top 10 practical tips for best report-writing practices. Read more >>

As a financial professional, you know the value of staying in touch with your clients and prospects, but where do you start and how do you find the time to create unique content to engage your audience and add value to their professional lives? Content marketing, the creation and sharing of online materials such as blog posts, videos, and social media posts, has gained popularity in recent years. Why? Because consumers are now more than ever attracted to friendly brands that focus on relationship building. Read more >>

Having a firm grasp on the current state of the economy is vital to any business valuation engagement. Business valuation experts and many other industry professionals rely on economic indicators as a key point of reference in their work. Economic factors can have a significant impact when valuing businesses, evaluating mergers and acquisitions, and a variety of other financial analyses. Read more >>

For years, the appraisal community has wondered when the U.S. Tax Court will recognize the need for tax affecting when valuing pass-through entities (PTE) and how the court will square its decision with precedent, i.e., the Gross case in which the Tax Court rejected the taxpayer’s tax-affected valuation. Read more >>

In BVR’s special report, What It's Worth: Valuing Oil, Gas, and Alternative Energy Assets, 2nd edition, the authors cover common value drivers when performing a wind farm valuation, including power purchase agreements, capacity factor, and tax credits. Read more >>

The most visible and recognizable intangible asset for a firm is its brand. A brand contains legal protections that trigger value. But knowing how to quantify the latter in view of the former can be perplexing to even the most experienced valuation professional. According to expert Mike Pellegrino, the author of BVR’s guide on Intellectual Property Valuation, there are some fundamental, underlying legal rights that provide brands monopoly protection and, ultimately, their value. Read more >>

Many interesting topics were discussed at the 2019 Annual Consultants’ Conference this past June in Salt Lake City presented by the National Association of Certified Valuators and Analysts (NACVA) and the Consultants’ Training Institute. We’ve identified some of the notable takeaways for those of you who could not attend. Read more >>

In BVR’s recent webinar, The Devil in the Valuation Details: Top 10 Questions Lawyers and Healthcare Organizations Ask, experts Jessica Stack and Denise Palencik (both of Veralon) covered the top 10 questions that valuation analysts should be prepared to answer when valuing a healthcare business. Here, we summarize five of the questions and answers. Read more >>

By the start of the 21st century, 50% of all basic research was credited to universities, some major examples being antibiotics, plastic, and even Google. Patent activity can offer insight into where the top universities (including colleges) across the world have recently been focusing their efforts, both geographically and industrially. Read more >>

Whether you are a business appraiser, a winery owner, or an investor, wineries are very unique to assess and have many variables that affect the value. Beyond the different valuation methods and how they can be applied to the wine industry, there are unique, industry-specific factors to be considered. Read more >>

Vertical IQ, an easy-to-use online service that focuses on the financial aspects of how firms operate in a particular industry, quickly turns you into an industry expert with hard-to-find intelligence on small- and medium-sized businesses. The following covers many of the unique areas of pest control services, which specialize in residential or non-residential services, including the industry forecast, business size and structure, profit drivers, and risks to watch out for. Read more >>

In the closely watched Vinoskey ESOP litigation, the trial court recently issued a long decision that found all the defendants liable. Read more >>

Business Valuation Resources recently published EBITDA multiples by industry in our DealStats Value Index (DVI). DVI presents an aggregated summary of valuation multiples and profit margins for over 30,000 sold private companies listed in our DealStats database. This post includes some of the highlights from the report. Read more >>

Hospital valuations require a thorough understanding of the industry and, specifically, the challenges and opportunities related to the Affordable Care Act (ACA) and overall transformation within the healthcare industry. In BVR’s publication, Guide to Ancillary Healthcare Services Valuation, contributors G. Don Barbo and Robert M. Mundy cover some of the top challenges hospitals face and how these challenges have changed the way hospitals conduct business. Read more >>

At the recent AAML/BVR divorce conference, held May 8-10 in Las Vegas, one of the sessions that best conveyed the advantages of an interdisciplinary discussion was on ethics. The topic was “Ethics Violations: How to Avoid the Letter No One Wants to Receive,” and the speakers were Marie Ebersbacher (CBIZ MHM LLC), an appraiser and financial forensics expert, and Lawrence Moskowitz (Perry, Johnson, Anderson, Miller & Moskowitz LLP), a family law attorney. Read more >>

In the recent patent infringement case, Meridian Mfg. v. C&B Mfg. (Oct. 5, 2018), both parties raised Daubert challenges to the opposing expert’s damages opinions. This provides a good reminder of key legal principles informing reasonable royalty and lost profits calculations. Read more >>

In my last Perspective (November 2018), I touched on the importance of why using the “right” level of profit was important when comparing valuations of one’s firm to others on an earnings multiple basis (e.g., 4.2x EBITDA, 3.9x EBIT, etc.). Although there are various levels of profit that firms rely on for quick pricing indications, I focused solely on EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, depreciation & amortization) for the sake of simplicity. Read more >>