Harvard Business Review

DECEMBER 10, 2012

There are times, of course, when companies systematically look at their portfolios and decide what to keep and what to cut. Pfizer divested its consumer health care business in 2006, selling it to J&J for more than 20x EBITDA. Pfizer Inc. Pfizer Consumer Healthcare. A spectacular move — or was it?

Due Diligence 15

Due Diligence EBITDA Health Care Gordon 15

Harvard Business Review

FEBRUARY 6, 2015

On average, we have found that high-reputation companies have higher returns (both Return on Assets and Return on Equity), deliver higher earnings multiples , have higher market/book ratios , and have a higher Enterprise Value/EBITDA ratio – the key measures on which investors assess corporate performance.

CEO 8

CEO Reputation Metrics EBITDA 8

Harvard Business Review

SEPTEMBER 27, 2012

And of course, complex models demand huge volumes of data, are susceptible to computational errors, and hinge on assumptions about unknowable variables such as disruptive technologies that, if wrong, can throw off the results. Within three years, ALL's Brazilian rail operations had increased revenues by 50% and tripled EBITDA.

Strategy 8

Strategy Proposal Guidelines Net Present Value 8

Harvard Business Review

JUNE 21, 2016

If you take the time to codify your key practices and principles, and use them as a compass to help chart your course, you can help your company maintain a strong sense of purpose and a powerful consistency of action as you contend with overload. By thinking like a founder and acting quickly, you can steer your company back on course.

Company 8

Company IPO Price Loyalty 8

Harvard Business Review

SEPTEMBER 26, 2011

Part of the credit goes to Starbucks, of course, which during the 1990s reinvented the coffeehouse concept by creating the category of infinitely customizable espresso-based beverages. Corporate development groups may have to accept that EBITDA multiple valuations may not be appropriate when buying a category creator. Yet total U.S.

B2C 12

B2C Strategy B2B Waterman 12

Harvard Business Review

MARCH 28, 2013

The military, of course, is known for its reliance on jargon and acronyms. But consider this equally inscrutable language: The value is multiples of EBITDA, assuming the back-office cost synergy targets are achievable. Yet to our veterans it's clear — they know where they can get food, fuel, and ammunition.

EBITDA 8

EBITDA Human Resources McKinsey Cost 8

Harvard Business Review

FEBRUARY 24, 2011

Of course, the political and cultural issues are key to successful implementation. In developing countries like Brazil, for example, we are seeing the resounding positive effects of Bolsa Familia, a social program which has changed the economic demographic of the country.

Suri 14

Suri Construction Class EBITDA 14