Valuation and triangulation
Three methods, one defensible range, every change logged.
Vera's AI estimate on day one. Then market comparables on the basis you choose, a DCF, and adjusted net assets from the normalized balance sheet. Weight them, scenario them, run the sensitivities, override with a reason, and show the whole trail to anyone who asks.
Why it matters
A single multiple on a single EBITDA is a guess with a decimal point. Lenders and equity partners expect to see the market view, the cash-flow view and the asset floor, and to understand why the conclusion sits where it does. A certified valuation costs $3,000 to $15,000 and arrives once; you need the range to move as diligence moves.
What you do in it
The deal's Valuation tab has two sub-tabs, AI Valuation and Comparable Valuation, and the rail also opens Comparable Valuation directly.
- Vera Valuation. Before any module runs, the Summary tab's Financial Overview shows Vera's AI estimate: a base value, a low-high range and a confidence label, beside the asking price and the implied price-to-EBITDA multiple. It is the first number you take into a screening call. Valuation unlocks when a QoE period is locked; from then on, the AI Valuation sub-tab shows the assumptions and rationale behind the estimate.
- Market approach. Build comparable sets of companies or transactions. Apply multiples on Revenue, EBITDA, EBIT, Gross Profit or SDE. Loss-making comparables are accepted; the module tells you why a comparable was refused rather than dropping it silently, and previews the applied metric before you recalculate.
- DCF. Enter amounts per projection year, revenue, EBITDA, capital expenditure, cash taxes, working-capital investment, and the discount rate. Unlevered free cash flow is EBITDA less capex, cash taxes and working capital. Terminal value by Gordon Growth or by exit multiple on the final year's EBITDA, with an optional mid-year convention. Equity value reads with the cash and debt bridge applied.
- Asset approach. Adjusted net asset value flows in from the Normalized Balance Sheet.
- Triangulate. Weights must sum to 100%. An approach with no result is left out of the blend automatically. Base equity value, low and high range, selected conclusion.
- Sensitivity. One click builds bands around the multiple, the earnings basis and each DCF assumption, each centred on the figure already on screen, plus a combined band from the lowest low to the highest high. Bands are marked stale when the figure they were built on changes.
- Scenarios and overrides. Keep a base case and alternatives. Override a conclusion with a stated reason; the audit log keeps the before, the after and who.
- Valuation rules. Industry rule templates set sensible multiple ranges and benchmarks; your admin can edit them for your firm.
Three methods, one range
Scope
The output is a calculation of value, not a certified appraisal. Comparables are the ones you enter, from the sources you trust; the product does not ship a transaction database.
How it connects
Unlocks when a QoE period is locked, then reads the locked QoE EBITDA or SDE and the Normalized Balance Sheet's adjusted NAV. The selected scenario's concluded value is offered to the deal's headline Estimated Value through the deal-maturity panel, and flows into the decision export and the memo.
What comes out of it
- Enterprise and equity values per method and blended, with the cash and debt bridge stated. If no cash or debt is entered the card says so instead of pretending.
- Triangulation commentary, written from the figures rather than by the AI, that carries into the memo's Valuation section.
- A complete audit log of every result, override and recalculation.
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