Calculators

European banks’ bad-debt pain threshold

27 April 2020

The continent’s major lenders have bigger capital buffers and are getting help from regulators. However, their balance sheets are expanding and income is dropping, while many borrowers are at risk of default. This calculator shows what level of bad loans banks can safely absorb.

Oil producers face their moment of truth

9 April 2020

After sparking a destructive price war last month, Russia and Saudi will discuss output cuts. Failure to agree could see supply bust through storage limits, sending prices below $20 a barrel. But, as a Breakingviews calculator shows, the required reductions are unprecedented.

Robo-taxis’ earnings horsepower

3 March 2020

General Motors reckons autonomous cabs can be a $1 trln market in the United States alone. That requires some heady assumptions about how cheap running such a service can be, and how many people can be persuaded to ditch car ownership for robo-rides.

Virgin’s galactic valuation

26 February 2020

Richard Branson’s space-tourism enterprise is worth nearly $7 billion. That’s high even based on the company’s rosy projections, and it’s stratospheric on more realistic assumptions.

Tesla’s lucrative mode enabled

8 January 2020

Elon Musk’s electric-car maker is now worth $89 bln. That requires some hefty assumptions, not least on annual car sales. Shift the numbers up and down to see how many Tesla needs to deliver to justify its racy valuation.

Will a Tiffany bid give LVMH enough sparkle?

5 November 2019

Bernard Arnault’s luxury group is offering $15 billion in cash to take home the blue-box jewellery chain immortalised by Audrey Hepburn. The market is betting on a higher bid than the $120 a share on offer. But making a deal work will require a lot of polish.

What’s Philip Morris International worth?

23 October 2019

The cigarette giant’s heat-not-burn tobacco device just went on sale in the United States. Based on the current cigarette unit’s valuation and growth assumptions for the heated products, investors could be set for more than 20% upside.

Shared-office burn

10 September 2019

If WeWork goes public, its valuation could be less than half the headline $47 billion at its last funding round. But if it doesn't, it could run out of cash by 2023. A Breakingviews calculator shows how the numbers stack up.

Refinitiv’s unequal exchange

1 August 2019

As the London Stock Exchange reveals plans to merge with data provider Refinitiv, run the numbers to see which of the target’s backers, Blackstone and Breakingviews parent Thomson Reuters, comes off best.

Naspers’ double discount

15 July 2019

The South African group is spinning off its stake in China’s Tencent into an Amsterdam-listed subsidiary. Will this narrow the persistent valuation gap between the two?