Excel ⇄ web reconciliation
Internal validation: Excel values come from the recalculated workbook (committed snapshot); web values are recomputed live by the TypeScript engine on every render. Any engine change that breaks agreement shows up here as FAIL.
AMC Networks (AMC Global Media) PUBLIC DATA CASE
178/178 PASS · models/CreditIQ_AMCX_Model.xlsxHeadline metrics (click for all 178)
| Metric | Excel | Web | Difference | Tolerance | Status |
|---|---|---|---|---|---|
| Base · Revenue — first projected period | 2145.089 | 2145.089 | 4.5e-13 | 0.05 | PASS |
| Base · Revenue — fifth projected period | 1869.766 | 1869.766 | -2.0e-12 | 0.05 | PASS |
| Base · EBITDA — first projected period | 300.312 | 300.312 | 5.7e-14 | 0.05 | PASS |
| Base · EBITDA — fifth projected period | 250.549 | 250.549 | 2.0e-13 | 0.05 | PASS |
| Base · Cumulative free cash flow (5 periods) | 555.588 | 555.588 | 3.4e-13 | 0.05 | PASS |
| Base · Total debt — fifth period | 1315.098 | 1315.098 | 0.0e+0 | 0.05 | PASS |
| Base · Cash — fifth period | 599.128 | 599.128 | 2.3e-13 | 0.05 | PASS |
| Base · Net debt / EBITDA — first period | 3.8150 | 3.8150 | 3.6e-15 | 0.005 | PASS |
| Base · EBITDA / interest — first period | 1.9256 | 1.9256 | 1.6e-15 | 0.005 | PASS |
| Base · Liquidity — first period | 589.863 | 589.863 | 0.0e+0 | 0.05 | PASS |
| Base · Payment default modelled (1 = yes) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Covenant breaches (count) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Refinancing failures (count) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Recovery value ($M) | 1851.872 | 1851.872 | -3.9e-12 | 0.05 | PASS |
| Base · Target-tranche recovery % | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Base · Exit price used | 100.000 | 100.000 | 0.0e+0 | 0.05 | PASS |
| Base · IRR | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Base · MOIC | 1.3842 | 1.3842 | 4.4e-16 | 0.005 | PASS |
| Base · Absolute profit ($M) | 36.500 | 36.500 | 0.0e+0 | 0.05 | PASS |
| Downside · Revenue — first projected period | 2066.473 | 2066.473 | 4.5e-13 | 0.05 | PASS |
| Downside · Revenue — fifth projected period | 1630.376 | 1630.376 | 4.5e-13 | 0.05 | PASS |
| Downside · EBITDA — first projected period | 247.977 | 247.977 | 2.8e-14 | 0.05 | PASS |
| Downside · EBITDA — fifth projected period | 163.038 | 163.038 | 5.7e-14 | 0.05 | PASS |
| Downside · Cumulative free cash flow (5 periods) | 75.137 | 75.137 | 4.3e-14 | 0.05 | PASS |
| Downside · Total debt — fifth period | 1315.098 | 1315.098 | 0.0e+0 | 0.05 | PASS |
| Downside · Cash — fifth period | 118.677 | 118.677 | -4.3e-13 | 0.05 | PASS |
| Downside · Net debt / EBITDA — first period | 4.9066 | 4.9066 | 3.6e-15 | 0.005 | PASS |
| Downside · EBITDA / interest — first period | 1.5901 | 1.5901 | -4.9e-15 | 0.005 | PASS |
| Downside · Liquidity — first period | 518.822 | 518.822 | 1.1e-13 | 0.05 | PASS |
| Downside · Payment default modelled (1 = yes) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Downside · Covenant breaches (count) | 11.000 | 11.000 | 0.0e+0 | 0 | PASS |
| Downside · Refinancing failures (count) | 2.000 | 2.000 | 0.0e+0 | 0 | PASS |
| Downside · Recovery value ($M) | 852.346 | 852.346 | -2.3e-13 | 0.05 | PASS |
| Downside · Target-tranche recovery % | 60.628% | 60.628% | -4.4e-16 | 0.0005 | PASS |
| Downside · Exit price used | 81.275 | 81.275 | -1.4e-14 | 0.05 | PASS |
| Downside · IRR | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Downside · MOIC | 1.1871 | 1.1871 | 1.3e-15 | 0.005 | PASS |
| Downside · Absolute profit ($M) | 17.775 | 17.775 | -1.8e-14 | 0.05 | PASS |
| Severe · Revenue — first projected period | 1931.703 | 1931.703 | 2.3e-13 | 0.05 | PASS |
| Severe · Revenue — fifth projected period | 1323.065 | 1323.065 | 4.1e-12 | 0.05 | PASS |
| Severe · EBITDA — first projected period | 173.853 | 173.853 | 5.7e-14 | 0.05 | PASS |
| Severe · EBITDA — fifth projected period | 92.615 | 92.615 | -1.4e-14 | 0.05 | PASS |
| Severe · Cumulative free cash flow (5 periods) | -362.406 | -362.406 | -4.5e-13 | 0.05 | PASS |
| Severe · Total debt — fifth period | 1465.182 | 1465.182 | 0.0e+0 | 0.05 | PASS |
| Severe · Cash — fifth period | -168.782 | -168.782 | -4.8e-13 | 0.05 | PASS |
| Severe · Net debt / EBITDA — first period | 7.4999 | 7.4999 | 5.3e-15 | 0.005 | PASS |
| Severe · EBITDA / interest — first period | 1.1148 | 1.1148 | 2.7e-15 | 0.005 | PASS |
| Severe · Liquidity — first period | 431.670 | 431.670 | 5.7e-14 | 0.05 | PASS |
| Severe · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Severe · Covenant breaches (count) | 13.000 | 13.000 | 0.0e+0 | 0 | PASS |
| Severe · Refinancing failures (count) | 2.000 | 2.000 | 0.0e+0 | 0 | PASS |
| Severe · Recovery value ($M) | 478.719 | 478.719 | 0.0e+0 | 0.05 | PASS |
| Severe · Target-tranche recovery % | 34.052% | 34.052% | -1.7e-16 | 0.0005 | PASS |
| Severe · Exit price used | 32.574 | 32.574 | -1.4e-14 | 0.05 | PASS |
| Severe · IRR | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Severe · MOIC | 0.6994 | 0.6994 | 3.3e-16 | 0.005 | PASS |
| Severe · Absolute profit ($M) | -28.554 | -28.554 | 3.2e-14 | 0.05 | PASS |
| Base · base.irr_ctr | 12.945% | 12.945% | -1.9e-16 | 0.0005 | PASS |
| Downside · downside.irr_ctr | 6.730% | 6.730% | -8.5e-16 | 0.0005 | PASS |
| Severe · severe.irr_ctr | -11.146% | -11.146% | -1.5e-16 | 0.0005 | PASS |
| Probability-weighted IRR on contractual timing | 6.285% | 6.285% | -1.1e-15 | 0.0005 | PASS |
| Probability-weighted IRR (IRR of expected cash flows) | 6.109% | 6.109% | 6.9e-18 | 0.0005 | PASS |
| Probability-weighted MOIC | 1.1783 | 1.1783 | 4.7e-15 | 0.005 | PASS |
| Probability of default | 20.000% | 20.000% | 0.0e+0 | 0.0005 | PASS |
| Memo: average of scenario IRRs | 5.798% | 5.798% | -6.1e-15 | 0.0005 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | 0 | PASS |
| Credit score | 59.382 | 59.400 | -1.8e-2 | 0.05 | PASS |
| Net leverage — base period | 4.0619 | 4.0619 | -1.8e-15 | 0.005 | PASS |
| EBITDA / interest — base period | 1.8359 | 1.8359 | 2.7e-15 | 0.005 | PASS |
| Yield to maturity | 11.700% | 11.703% | -2.8e-5 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 1 | 16.319% | 16.319% | 5.0e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 2 | 14.403% | 14.403% | 2.2e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 3 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 4 | 10.909% | 10.909% | -4.3e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 5 | 9.308% | 9.308% | -1.3e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 1 | 10.083% | 10.083% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 2 | 8.255% | 8.255% | -1.2e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 3 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 4 | 4.922% | 4.922% | -1.8e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 5 | 3.397% | 3.397% | -6.9e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 1 | -8.308% | -8.308% | 4.2e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 2 | -9.599% | -9.599% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 3 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 4 | -11.953% | -11.953% | -4.2e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 5 | -13.030% | -13.030% | -9.7e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 1 | -22.003% | -22.003% | 3.6e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 2 | -10.399% | -10.399% | -2.8e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 3 | -1.402% | -1.402% | 5.2e-18 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 4 | 6.098% | 6.098% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 5 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 1 | -22.003% | -22.003% | 3.6e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 2 | -10.399% | -10.399% | -2.8e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 3 | -1.402% | -1.402% | 5.2e-18 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 4 | 6.098% | 6.098% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 5 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 1 | -18.948% | -18.948% | -6.7e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 2 | -8.563% | -8.563% | -1.1e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 3 | -1.125% | -1.125% | -5.2e-18 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 4 | 4.807% | 4.807% | -1.3e-15 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 5 | 9.802% | 9.802% | -2.8e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 1 | 10.761% | 10.761% | -4.8e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 2 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 3 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 4 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 5 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 1 | -6.235% | -6.235% | -6.9e-18 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 2 | -2.069% | -2.069% | -4.2e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 3 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 4 | 11.053% | 11.053% | -6.7e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 5 | 11.053% | 11.053% | -6.7e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 1 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 2 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 3 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 4 | -8.476% | -8.476% | 8.3e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 5 | -3.288% | -3.288% | -6.2e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 1 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 2 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 3 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 4 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 5 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 1 | -2.069% | -2.069% | -4.2e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 2 | 1.032% | 1.032% | 3.1e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 3 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 4 | 11.053% | 11.053% | -6.7e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 5 | 11.053% | 11.053% | -6.7e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 1 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 2 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 3 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 4 | -9.914% | -9.914% | -1.1e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 5 | -7.235% | -7.235% | 6.9e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 1 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 2 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 3 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 4 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 5 | 12.603% | 12.603% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 1 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 2 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 3 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 4 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 5 | 6.538% | 6.538% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 1 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 2 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 3 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 4 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 5 | -10.811% | -10.811% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 1 | 96.082% | 96.082% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 1 | 52.971% | 52.971% | 3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 2 | 52.971% | 52.971% | 3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 3 | 60.628% | 60.628% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 4 | 72.225% | 72.225% | -2.2e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 5 | 83.823% | 83.823% | 1.1e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 1 | 34.052% | 34.052% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 2 | 34.052% | 34.052% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 3 | 34.052% | 34.052% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 4 | 38.088% | 38.088% | 2.8e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 5 | 45.706% | 45.706% | -3.9e-16 | 0.0005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 1 | 0.5421 | 0.5421 | 2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 2 | 0.7526 | 0.7526 | -4.4e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 3 | 0.9632 | 0.9632 | -1.1e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 4 | 1.1737 | 1.1737 | 4.2e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 5 | 1.3842 | 1.3842 | 4.4e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 1 | 0.5421 | 0.5421 | 2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 2 | 0.7526 | 0.7526 | -4.4e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 3 | 0.9632 | 0.9632 | -1.1e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 4 | 1.1737 | 1.1737 | 4.2e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 5 | 1.3842 | 1.3842 | 4.4e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 1 | 0.5421 | 0.5421 | 2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 2 | 0.7526 | 0.7526 | -4.4e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 3 | 0.9632 | 0.9632 | -1.1e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 4 | 1.1737 | 1.1737 | 4.2e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 5 | 1.3842 | 1.3842 | 4.4e-16 | 0.005 | PASS |
| Base · Default period (0 = none) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Downside · Default period (0 = none) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Severe · Default period (0 = none) | 2029.000 | 2029.000 | 0.0e+0 | 0 | PASS |
| Metric | Excel | Web | Difference | Status |
|---|---|---|---|---|
| Base · Revenue — first projected period | 2145.089 | 2145.089 | 4.5e-13 | PASS |
| Base · EBITDA — first projected period | 300.312 | 300.312 | 5.7e-14 | PASS |
| Base · Cumulative free cash flow (5 periods) | 555.588 | 555.588 | 3.4e-13 | PASS |
| Base · IRR | 12.603% | 12.603% | -1.4e-14 | PASS |
| Base · MOIC | 1.3842 | 1.3842 | 4.4e-16 | PASS |
| Downside · Total debt — fifth period | 1315.098 | 1315.098 | 0.0e+0 | PASS |
| Downside · IRR | 6.538% | 6.538% | -9.7e-17 | PASS |
| Severe · Target-tranche recovery % | 34.052% | 34.052% | -1.7e-16 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | PASS |
| Net leverage — base period | 4.0619 | 4.0619 | -1.8e-15 | PASS |
| EBITDA / interest — base period | 1.8359 | 1.8359 | 2.7e-15 | PASS |
Brandywine Realty Trust PUBLIC DATA CASE
276/276 PASS · models/CreditIQ_BDN_Model.xlsxHeadline metrics (click for all 276)
| Metric | Excel | Web | Difference | Tolerance | Status |
|---|---|---|---|---|---|
| Base · Revenue — first projected period | 483.342 | 483.342 | -5.7e-14 | 0.05 | PASS |
| Base · Revenue — fifth projected period | 523.185 | 523.185 | -2.3e-13 | 0.05 | PASS |
| Base · EBITDA — first projected period | 256.171 | 256.171 | 0.0e+0 | 0.05 | PASS |
| Base · EBITDA — fifth projected period | 282.520 | 282.520 | 2.3e-13 | 0.05 | PASS |
| Base · Cumulative free cash flow (5 periods) | -435.805 | -435.805 | 0.0e+0 | 0.05 | PASS |
| Base · Total debt — fifth period | 2823.869 | 2823.869 | 2.3e-12 | 0.05 | PASS |
| Base · Cash — fifth period | 0.000 | 0.000 | 0.0e+0 | 0.05 | PASS |
| Base · Net debt / EBITDA — first period | 9.6482 | 9.6482 | 0.0e+0 | 0.005 | PASS |
| Base · EBITDA / interest — first period | 1.4215 | 1.4215 | -1.8e-15 | 0.005 | PASS |
| Base · Liquidity — first period | 724.829 | 724.829 | 0.0e+0 | 0.05 | PASS |
| Base · Payment default modelled (1 = yes) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Covenant breaches (count) | 8.000 | 8.000 | 0.0e+0 | 0 | PASS |
| Base · Refinancing failures (count) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Recovery value ($M) | 3990.374 | 3990.374 | 3.2e-12 | 0.05 | PASS |
| Base · Target-tranche recovery % | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Base · Exit price used | 100.000 | 100.000 | 0.0e+0 | 0.05 | PASS |
| Base · IRR | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Base · MOIC | 1.2885 | 1.2885 | -4.7e-15 | 0.005 | PASS |
| Base · Absolute profit ($M) | 28.410 | 28.410 | -1.1e-14 | 0.05 | PASS |
| Downside · Revenue — first projected period | 468.394 | 468.394 | -5.7e-14 | 0.05 | PASS |
| Downside · Revenue — fifth projected period | 463.474 | 463.474 | -5.7e-14 | 0.05 | PASS |
| Downside · EBITDA — first projected period | 234.197 | 234.197 | -2.8e-14 | 0.05 | PASS |
| Downside · EBITDA — fifth projected period | 229.420 | 229.420 | -1.1e-13 | 0.05 | PASS |
| Downside · Cumulative free cash flow (5 periods) | -320.308 | -320.308 | -2.3e-13 | 0.05 | PASS |
| Downside · Total debt — fifth period | 2557.380 | 2557.380 | 0.0e+0 | 0.05 | PASS |
| Downside · Cash — fifth period | -200.992 | -200.992 | -1.7e-13 | 0.05 | PASS |
| Downside · Net debt / EBITDA — first period | 10.6705 | 10.6705 | -3.0e-14 | 0.005 | PASS |
| Downside · EBITDA / interest — first period | 1.2498 | 1.2498 | -3.8e-15 | 0.005 | PASS |
| Downside · Liquidity — first period | 697.447 | 697.447 | 0.0e+0 | 0.05 | PASS |
| Downside · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Downside · Covenant breaches (count) | 15.000 | 15.000 | 0.0e+0 | 0 | PASS |
| Downside · Refinancing failures (count) | 7.000 | 7.000 | 0.0e+0 | 0 | PASS |
| Downside · Recovery value ($M) | 3264.039 | 3264.039 | 3.2e-12 | 0.05 | PASS |
| Downside · Target-tranche recovery % | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Downside · Exit price used | 95.000 | 95.000 | 0.0e+0 | 0.05 | PASS |
| Downside · IRR | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Downside · MOIC | 1.2567 | 1.2567 | 4.7e-15 | 0.005 | PASS |
| Downside · Absolute profit ($M) | 25.285 | 25.285 | -1.1e-14 | 0.05 | PASS |
| Severe · Revenue — first projected period | 448.462 | 448.462 | -5.7e-14 | 0.05 | PASS |
| Severe · Revenue — fifth projected period | 408.603 | 408.603 | -5.7e-14 | 0.05 | PASS |
| Severe · EBITDA — first projected period | 206.292 | 206.292 | -5.7e-14 | 0.05 | PASS |
| Severe · EBITDA — fifth projected period | 179.785 | 179.785 | -2.8e-14 | 0.05 | PASS |
| Severe · Cumulative free cash flow (5 periods) | -319.394 | -319.394 | -5.7e-14 | 0.05 | PASS |
| Severe · Total debt — fifth period | 2590.889 | 2590.889 | 0.0e+0 | 0.05 | PASS |
| Severe · Cash — fifth period | -216.569 | -216.569 | 0.0e+0 | 0.05 | PASS |
| Severe · Net debt / EBITDA — first period | 12.2866 | 12.2866 | 2.3e-14 | 0.005 | PASS |
| Severe · EBITDA / interest — first period | 1.0603 | 1.0603 | -3.3e-15 | 0.005 | PASS |
| Severe · Liquidity — first period | 661.794 | 661.794 | 0.0e+0 | 0.05 | PASS |
| Severe · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Severe · Covenant breaches (count) | 15.000 | 15.000 | 0.0e+0 | 0 | PASS |
| Severe · Refinancing failures (count) | 7.000 | 7.000 | 0.0e+0 | 0 | PASS |
| Severe · Recovery value ($M) | 2688.032 | 2688.032 | 3.2e-12 | 0.05 | PASS |
| Severe · Target-tranche recovery % | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Severe · Exit price used | 85.000 | 85.000 | 0.0e+0 | 0.05 | PASS |
| Severe · IRR | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Severe · MOIC | 1.2910 | 1.2910 | 3.6e-15 | 0.005 | PASS |
| Severe · Absolute profit ($M) | 28.660 | 28.660 | -1.1e-14 | 0.05 | PASS |
| Base · base.irr_ctr | 9.913% | 9.913% | -9.0e-16 | 0.0005 | PASS |
| Downside · downside.irr_ctr | 8.992% | 8.992% | 8.5e-16 | 0.0005 | PASS |
| Severe · severe.irr_ctr | 10.272% | 10.272% | 1.1e-16 | 0.0005 | PASS |
| Collateral stress · cap.0.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.0.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.1 | 92.161% | 92.161% | -1.1e-16 | 0.0005 | PASS |
| Collateral stress · cap.0.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.2 | 75.897% | 75.897% | -1.1e-16 | 0.0005 | PASS |
| Collateral stress · cap.0.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.3 | 59.634% | 59.634% | -1.1e-16 | 0.0005 | PASS |
| Collateral stress · cap.0.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.4 | 43.370% | 43.370% | -1.7e-16 | 0.0005 | PASS |
| Collateral stress · cap.0.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.0.5 | 27.106% | 27.106% | -5.6e-17 | 0.0005 | PASS |
| Collateral stress · cap.1.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.1.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.1.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.1.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.1.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.4 | 86.740% | 86.740% | -3.3e-16 | 0.0005 | PASS |
| Collateral stress · cap.1.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.1.5 | 54.212% | 54.212% | -1.1e-16 | 0.0005 | PASS |
| Collateral stress · cap.2.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.2.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.2.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.2.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.2.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.2.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.2.5 | 81.319% | 81.319% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.3.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.3.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.4.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.4.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.5.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.5.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.5.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.5.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · pool.5.4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · cap.5.5 | 96.352% | 96.352% | 2.2e-16 | 0.0005 | PASS |
| Collateral stress · pool.5.5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.0.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.0.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.0.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.0.3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.0.4 | 82.945% | 82.945% | -1.1e-16 | 0.0005 | PASS |
| Collateral stress · claim.0.5 | 55.297% | 55.297% | 2.2e-16 | 0.0005 | PASS |
| Collateral stress · claim.1.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.1.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.1.2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.1.3 | 73.729% | 73.729% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.1.4 | 55.297% | 55.297% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.1.5 | 36.864% | 36.864% | 1.1e-16 | 0.0005 | PASS |
| Collateral stress · claim.2.0 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.2.1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.2.2 | 82.945% | 82.945% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.2.3 | 55.297% | 55.297% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.2.4 | 41.472% | 41.472% | -5.6e-17 | 0.0005 | PASS |
| Collateral stress · claim.2.5 | 27.648% | 27.648% | 1.1e-16 | 0.0005 | PASS |
| Collateral stress · claim.3.0 | 92.161% | 92.161% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.3.1 | 73.729% | 73.729% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.3.2 | 55.297% | 55.297% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.3.3 | 36.864% | 36.864% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.3.4 | 27.648% | 27.648% | 0.0e+0 | 0.0005 | PASS |
| Collateral stress · claim.3.5 | 18.432% | 18.432% | 5.6e-17 | 0.0005 | PASS |
| Collateral stress · be.value | 1633.987 | 1633.987 | 4.8e-12 | 0.05 | PASS |
| Collateral stress · be.decline | 63.831% | 63.831% | 1.1e-16 | 0.0005 | PASS |
| Probability-weighted IRR on contractual timing | 9.646% | 9.646% | -1.4e-17 | 0.0005 | PASS |
| Probability-weighted IRR (IRR of expected cash flows) | 9.343% | 9.343% | 6.9e-17 | 0.0005 | PASS |
| Probability-weighted MOIC | 1.2777 | 1.2777 | -1.6e-15 | 0.005 | PASS |
| Probability of default | 50.000% | 50.000% | 0.0e+0 | 0.0005 | PASS |
| Memo: average of scenario IRRs | 9.341% | 9.341% | -1.7e-15 | 0.0005 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | 0 | PASS |
| Credit score | 45.750 | 45.700 | 5.0e-2 | 0.05 | PASS |
| Net leverage — base period | 9.7782 | 9.7782 | 0.0e+0 | 0.005 | PASS |
| EBITDA / interest — base period | 1.7233 | 1.7233 | 4.7e-15 | 0.005 | PASS |
| Yield to maturity | 9.673% | 9.673% | -1.1e-6 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 1 | 13.030% | 13.030% | -7.8e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 2 | 11.254% | 11.254% | -2.5e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 3 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 4 | 8.003% | 8.003% | -6.9e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 5 | 6.509% | 6.509% | 1.4e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 1 | 12.218% | 12.218% | -2.8e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 2 | 10.426% | 10.426% | -4.6e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 3 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 4 | 7.148% | 7.148% | -2.8e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 5 | 5.644% | 5.644% | 1.2e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 1 | 13.507% | 13.507% | -2.5e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 2 | 11.669% | 11.669% | -3.9e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 3 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 4 | 8.311% | 8.311% | -1.7e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 5 | 6.770% | 6.770% | -2.6e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 1 | -25.636% | -25.636% | -2.8e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 2 | -13.685% | -13.685% | -2.8e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 3 | -4.538% | -4.538% | -6.9e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 4 | 3.037% | 3.037% | -1.4e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 5 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 1 | -31.034% | -31.034% | 5.6e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 2 | -17.151% | -17.151% | -3.9e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 3 | -7.109% | -7.109% | -4.5e-15 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 4 | 0.998% | 0.998% | 1.2e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 5 | 7.901% | 7.901% | -4.9e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 1 | -29.510% | -29.510% | 4.4e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 2 | -15.843% | -15.843% | 3.1e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 3 | -5.907% | -5.907% | -2.2e-15 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 4 | 2.134% | 2.134% | 4.9e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 5 | 8.990% | 8.990% | -3.8e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 1 | 8.320% | 8.320% | 2.4e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 2 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 3 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 4 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 5 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 1 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 2 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 3 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 4 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 5 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 1 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 2 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 3 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 4 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 5 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 1 | 7.546% | 7.546% | -1.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 2 | 7.924% | 7.924% | -1.4e-14 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 3 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 4 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 5 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 1 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 2 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 3 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 4 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 5 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 1 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 2 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 3 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 4 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 5 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 1 | 8.570% | 8.570% | 4.2e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 2 | 9.076% | 9.076% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 3 | 9.582% | 9.582% | -5.0e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 4 | 10.594% | 10.594% | -3.0e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 5 | 11.606% | 11.606% | -1.0e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 1 | 7.943% | 7.943% | -3.7e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 2 | 8.341% | 8.341% | -4.7e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 3 | 8.740% | 8.740% | -8.9e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 4 | 9.540% | 9.540% | -4.3e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 5 | 10.343% | 10.343% | -1.3e-14 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 1 | 9.139% | 9.139% | -2.4e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 2 | 9.540% | 9.540% | -4.3e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 3 | 9.941% | 9.941% | -7.3e-15 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 4 | 10.746% | 10.746% | -9.7e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 5 | 11.554% | 11.554% | 4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 1 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 2 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 3 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 1 | 0.4762 | 0.4762 | -2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 2 | 0.6793 | 0.6793 | 1.1e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 3 | 0.8823 | 0.8823 | 5.6e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 4 | 1.0854 | 1.0854 | 0.0e+0 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 5 | 1.2885 | 1.2885 | -4.7e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 1 | 0.4178 | 0.4178 | -3.9e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 2 | 0.6209 | 0.6209 | 0.0e+0 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 3 | 0.8239 | 0.8239 | 3.3e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 4 | 1.0270 | 1.0270 | -4.4e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 5 | 1.2301 | 1.2301 | 1.1e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 1 | 0.4483 | 0.4483 | -5.6e-17 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 2 | 0.6513 | 0.6513 | 2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 3 | 0.8544 | 0.8544 | -3.3e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 4 | 1.0575 | 1.0575 | -2.9e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 5 | 1.2605 | 1.2605 | 2.4e-15 | 0.005 | PASS |
| Base · Default period (0 = none) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Downside · Default period (0 = none) | 2028.000 | 2028.000 | 0.0e+0 | 0 | PASS |
| Severe · Default period (0 = none) | 2028.000 | 2028.000 | 0.0e+0 | 0 | PASS |
| Metric | Excel | Web | Difference | Status |
|---|---|---|---|---|
| Base · Revenue — first projected period | 483.342 | 483.342 | -5.7e-14 | PASS |
| Base · EBITDA — first projected period | 256.171 | 256.171 | 0.0e+0 | PASS |
| Base · Cumulative free cash flow (5 periods) | -435.805 | -435.805 | 0.0e+0 | PASS |
| Base · IRR | 9.582% | 9.582% | -5.0e-16 | PASS |
| Base · MOIC | 1.2885 | 1.2885 | -4.7e-15 | PASS |
| Downside · Total debt — fifth period | 2557.380 | 2557.380 | 0.0e+0 | PASS |
| Downside · IRR | 8.740% | 8.740% | -8.9e-16 | PASS |
| Severe · Target-tranche recovery % | 100.000% | 100.000% | 0.0e+0 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | PASS |
| Net leverage — base period | 9.7782 | 9.7782 | 0.0e+0 | PASS |
| EBITDA / interest — base period | 1.7233 | 1.7233 | 4.7e-15 | PASS |
Brightwater Retail Holdings DEMO DATA
178/178 PASS · models/CreditIQ_BRIGHTWATER_Model.xlsxHeadline metrics (click for all 178)
| Metric | Excel | Web | Difference | Tolerance | Status |
|---|---|---|---|---|---|
| Base · Revenue — first projected period | 2376.000 | 2376.000 | 0.0e+0 | 0.05 | PASS |
| Base · Revenue — fifth projected period | 2282.376 | 2282.376 | 0.0e+0 | 0.05 | PASS |
| Base · EBITDA — first projected period | 154.440 | 154.440 | 0.0e+0 | 0.05 | PASS |
| Base · EBITDA — fifth projected period | 166.613 | 166.613 | -2.8e-14 | 0.05 | PASS |
| Base · Cumulative free cash flow (5 periods) | -46.976 | -46.976 | -2.1e-14 | 0.05 | PASS |
| Base · Total debt — fifth period | 1251.976 | 1251.976 | 0.0e+0 | 0.05 | PASS |
| Base · Cash — fifth period | 0.000 | 0.000 | 0.0e+0 | 0.05 | PASS |
| Base · Net debt / EBITDA — first period | 7.8622 | 7.8622 | -1.8e-15 | 0.005 | PASS |
| Base · EBITDA / interest — first period | 1.2974 | 1.2974 | -4.4e-15 | 0.005 | PASS |
| Base · Liquidity — first period | 150.560 | 150.560 | 0.0e+0 | 0.05 | PASS |
| Base · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Base · Covenant breaches (count) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Refinancing failures (count) | 0.000 | 0.000 | 0.0e+0 | 0 | PASS |
| Base · Recovery value ($M) | 630.400 | 630.400 | 0.0e+0 | 0.05 | PASS |
| Base · Target-tranche recovery % | 86.643% | 86.643% | 4.4e-16 | 0.0005 | PASS |
| Base · Exit price used | 100.000 | 100.000 | 0.0e+0 | 0.05 | PASS |
| Base · IRR | 13.082% | 13.082% | -3.6e-16 | 0.0005 | PASS |
| Base · MOIC | 1.3926 | 1.3926 | 2.2e-16 | 0.005 | PASS |
| Base · Absolute profit ($M) | 30.780 | 30.780 | 4.6e-14 | 0.05 | PASS |
| Downside · Revenue — first projected period | 2212.800 | 2212.800 | 0.0e+0 | 0.05 | PASS |
| Downside · Revenue — fifth projected period | 2073.763 | 2073.763 | 0.0e+0 | 0.05 | PASS |
| Downside · EBITDA — first projected period | 77.448 | 77.448 | 0.0e+0 | 0.05 | PASS |
| Downside · EBITDA — fifth projected period | 85.024 | 85.024 | 1.4e-14 | 0.05 | PASS |
| Downside · Cumulative free cash flow (5 periods) | -481.481 | -481.481 | 5.7e-14 | 0.05 | PASS |
| Downside · Total debt — fifth period | 1260.297 | 1260.297 | 0.0e+0 | 0.05 | PASS |
| Downside · Cash — fifth period | -426.184 | -426.184 | 5.7e-14 | 0.05 | PASS |
| Downside · Net debt / EBITDA — first period | 16.5414 | 16.5414 | -2.5e-14 | 0.005 | PASS |
| Downside · EBITDA / interest — first period | 0.5979 | 0.5979 | 0.0e+0 | 0.005 | PASS |
| Downside · Liquidity — first period | 83.703 | 83.703 | 4.3e-14 | 0.05 | PASS |
| Downside · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Downside · Covenant breaches (count) | 5.000 | 5.000 | 0.0e+0 | 0 | PASS |
| Downside · Refinancing failures (count) | 4.000 | 4.000 | 0.0e+0 | 0 | PASS |
| Downside · Recovery value ($M) | 530.400 | 530.400 | 0.0e+0 | 0.05 | PASS |
| Downside · Target-tranche recovery % | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Downside · Exit price used | 5.544 | 5.544 | -1.5e-14 | 0.05 | PASS |
| Downside · IRR | 0.689% | 0.689% | 3.3e-17 | 0.0005 | PASS |
| Downside · MOIC | 1.0177 | 1.0177 | -2.4e-15 | 0.005 | PASS |
| Downside · Absolute profit ($M) | 1.389 | 1.389 | -2.4e-15 | 0.05 | PASS |
| Severe · Revenue — first projected period | 1838.400 | 1838.400 | 0.0e+0 | 0.05 | PASS |
| Severe · Revenue — fifth projected period | 1526.823 | 1526.823 | 0.0e+0 | 0.05 | PASS |
| Severe · EBITDA — first projected period | 18.384 | 18.384 | 0.0e+0 | 0.05 | PASS |
| Severe · EBITDA — fifth projected period | 15.268 | 15.268 | 0.0e+0 | 0.05 | PASS |
| Severe · Cumulative free cash flow (5 periods) | -697.793 | -697.793 | 3.4e-13 | 0.05 | PASS |
| Severe · Total debt — fifth period | 1278.909 | 1278.909 | -2.3e-13 | 0.05 | PASS |
| Severe · Cash — fifth period | -623.884 | -623.884 | 4.5e-13 | 0.05 | PASS |
| Severe · Net debt / EBITDA — first period | 70.6978 | 70.6978 | -1.4e-14 | 0.005 | PASS |
| Severe · EBITDA / interest — first period | 0.1313 | 0.1313 | -4.4e-16 | 0.005 | PASS |
| Severe · Liquidity — first period | 65.091 | 65.091 | 4.3e-14 | 0.05 | PASS |
| Severe · Payment default modelled (1 = yes) | 1.000 | 1.000 | 0.0e+0 | 0 | PASS |
| Severe · Covenant breaches (count) | 5.000 | 5.000 | 0.0e+0 | 0 | PASS |
| Severe · Refinancing failures (count) | 4.000 | 4.000 | 0.0e+0 | 0 | PASS |
| Severe · Recovery value ($M) | 405.600 | 405.600 | 5.7e-14 | 0.05 | PASS |
| Severe · Target-tranche recovery % | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Severe · Exit price used | 0.000 | 0.000 | 0.0e+0 | 0.05 | PASS |
| Severe · IRR | -13.853% | -13.853% | -1.7e-16 | 0.0005 | PASS |
| Severe · MOIC | 0.7061 | 0.7061 | -4.4e-16 | 0.005 | PASS |
| Severe · Absolute profit ($M) | -23.037 | -23.037 | 3.2e-14 | 0.05 | PASS |
| Base · base.irr_ctr | 13.082% | 13.082% | -1.1e-15 | 0.0005 | PASS |
| Downside · downside.irr_ctr | 0.689% | 0.689% | -3.5e-18 | 0.0005 | PASS |
| Severe · severe.irr_ctr | -13.853% | -13.853% | -9.2e-15 | 0.0005 | PASS |
| Probability-weighted IRR on contractual timing | 6.415% | 6.415% | 4.2e-17 | 0.0005 | PASS |
| Probability-weighted IRR (IRR of expected cash flows) | 6.415% | 6.415% | 1.5e-16 | 0.0005 | PASS |
| Probability-weighted MOIC | 1.1772 | 1.1772 | -2.0e-15 | 0.005 | PASS |
| Probability of default | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Memo: average of scenario IRRs | 5.324% | 5.324% | 9.0e-17 | 0.0005 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | 0 | PASS |
| Credit score | 30.451 | 30.500 | -4.9e-2 | 0.05 | PASS |
| Net leverage — base period | 7.7244 | 7.7244 | -4.4e-15 | 0.005 | PASS |
| EBITDA / interest — base period | 1.3105 | 1.3105 | -1.8e-15 | 0.005 | PASS |
| Yield to maturity | 25.702% | 25.693% | 9.3e-5 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 1 | 17.781% | 17.781% | -7.8e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 2 | 15.340% | 15.340% | -2.5e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 3 | 13.082% | 13.082% | -3.6e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 4 | 10.985% | 10.985% | 1.9e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Base · point 5 | 9.030% | 9.030% | 1.9e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 1 | 5.065% | 5.065% | -6.9e-18 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 2 | 2.789% | 2.789% | -7.7e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 3 | 0.689% | 0.689% | 4.3e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 4 | -1.258% | -1.258% | 6.2e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Downside · point 5 | -3.070% | -3.070% | -2.9e-15 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 1 | -9.824% | -9.824% | 5.6e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 2 | -11.922% | -11.922% | -4.2e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 3 | -13.853% | -13.853% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 4 | -15.639% | -15.639% | 8.3e-17 | 0.0005 | PASS |
| Sensitivity · Purchase price → IRR · Severe · point 5 | -17.295% | -17.295% | -2.2e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 1 | -24.757% | -24.757% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 2 | -9.851% | -9.851% | 1.4e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 3 | 0.948% | 0.948% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 4 | 9.674% | 9.674% | -5.6e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Base · point 5 | 17.107% | 17.107% | -7.8e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 1 | -22.907% | -22.907% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 2 | -8.259% | -8.259% | -1.2e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 3 | 2.414% | 2.414% | -2.8e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 4 | 11.060% | 11.060% | -4.2e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Downside · point 5 | 18.436% | 18.436% | -7.2e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 1 | -21.035% | -21.035% | -3.1e-16 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 2 | -6.648% | -6.648% | -2.8e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 3 | 3.897% | 3.897% | -1.0e-14 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 4 | 12.461% | 12.461% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Recovery / exit value → IRR · Severe · point 5 | 19.780% | 19.780% | -7.5e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 1 | 4.884% | 4.884% | 4.9e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 2 | 8.906% | 8.906% | -5.9e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 3 | 13.082% | 13.082% | -3.6e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 4 | 25.237% | 25.237% | -2.7e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Base · point 5 | 25.237% | 25.237% | -2.7e-15 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 1 | -21.392% | -21.392% | 1.7e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 2 | -3.924% | -3.924% | -2.3e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 3 | 0.689% | 0.689% | 3.3e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 4 | 4.873% | 4.873% | -1.4e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Downside · point 5 | 9.144% | 9.144% | 6.9e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 1 | -46.007% | -46.007% | 2.8e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 2 | -19.657% | -19.657% | -3.9e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 3 | -13.853% | -13.853% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 4 | -8.848% | -8.848% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · EBITDA margin shift → IRR · Severe · point 5 | -4.410% | -4.410% | -1.6e-15 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 1 | 13.972% | 13.972% | 1.7e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 2 | 13.305% | 13.305% | -3.9e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 3 | 13.082% | 13.082% | -3.6e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 4 | 16.869% | 16.869% | 2.8e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Base · point 5 | 17.971% | 17.971% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 1 | 3.140% | 3.140% | 9.0e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 2 | 1.931% | 1.931% | 2.2e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 3 | 0.689% | 0.689% | 3.3e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 4 | -0.588% | -0.588% | 4.9e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Downside · point 5 | -1.903% | -1.903% | -1.1e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 1 | -9.503% | -9.503% | -6.9e-17 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 2 | -11.616% | -11.616% | -3.2e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 3 | -13.853% | -13.853% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 4 | -16.237% | -16.237% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Revenue growth shift → IRR · Severe · point 5 | -18.794% | -18.794% | 1.7e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 1 | 24.027% | 24.027% | -7.2e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 2 | 12.908% | 12.908% | 2.2e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 3 | 13.082% | 13.082% | -3.6e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 4 | 13.433% | 13.433% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Base · point 5 | 13.788% | 13.788% | -5.8e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 1 | 0.441% | 0.441% | 1.6e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 2 | 0.564% | 0.564% | -2.3e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 3 | 0.689% | 0.689% | 3.3e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 4 | 0.940% | 0.940% | -1.0e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Downside · point 5 | 1.194% | 1.194% | 1.3e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 1 | -13.909% | -13.909% | 5.6e-17 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 2 | -13.881% | -13.881% | -4.2e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 3 | -13.853% | -13.853% | -1.7e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 4 | -13.800% | -13.800% | 3.6e-16 | 0.0005 | PASS |
| Sensitivity · SOFR shift → IRR · Severe · point 5 | -13.750% | -13.750% | 4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 1 | 85.467% | 85.467% | 1.1e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 2 | 85.467% | 85.467% | 1.1e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 3 | 86.643% | 86.643% | 4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 4 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Base · point 5 | 100.000% | 100.000% | 0.0e+0 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 1 | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 2 | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 3 | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 4 | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Downside · point 5 | 54.845% | 54.845% | -3.3e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 1 | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 2 | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 3 | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 4 | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Distressed multiple shift → recovery % · Severe · point 5 | 28.087% | 28.087% | -4.4e-16 | 0.0005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 1 | 0.5147 | 0.5147 | 2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 2 | 0.7699 | 0.7699 | -3.3e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 3 | 1.0250 | 1.0250 | -3.8e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 4 | 1.2801 | 1.2801 | 3.8e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Base · point 5 | 1.5353 | 1.5353 | 1.3e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 1 | 0.5530 | 0.5530 | 3.3e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 2 | 0.8081 | 0.8081 | -2.2e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 3 | 1.0633 | 1.0633 | -2.7e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 4 | 1.3184 | 1.3184 | 4.9e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Downside · point 5 | 1.5735 | 1.5735 | 2.4e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 1 | 0.5913 | 0.5913 | 3.3e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 2 | 0.8464 | 0.8464 | -1.1e-16 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 3 | 1.1015 | 1.1015 | -1.6e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 4 | 1.3567 | 1.3567 | -4.0e-15 | 0.005 | PASS |
| Sensitivity · Recovery value → MOIC · Severe · point 5 | 1.6118 | 1.6118 | 3.6e-15 | 0.005 | PASS |
| Base · Default period (0 = none) | 2027.000 | 2027.000 | 0.0e+0 | 0 | PASS |
| Downside · Default period (0 = none) | 2027.000 | 2027.000 | 0.0e+0 | 0 | PASS |
| Severe · Default period (0 = none) | 2027.000 | 2027.000 | 0.0e+0 | 0 | PASS |
| Metric | Excel | Web | Difference | Status |
|---|---|---|---|---|
| Base · Revenue — first projected period | 2376.000 | 2376.000 | 0.0e+0 | PASS |
| Base · EBITDA — first projected period | 154.440 | 154.440 | 0.0e+0 | PASS |
| Base · Cumulative free cash flow (5 periods) | -46.976 | -46.976 | -2.1e-14 | PASS |
| Base · IRR | 13.082% | 13.082% | -3.6e-16 | PASS |
| Base · MOIC | 1.3926 | 1.3926 | 2.2e-16 | PASS |
| Downside · Total debt — fifth period | 1260.297 | 1260.297 | 0.0e+0 | PASS |
| Downside · IRR | 0.689% | 0.689% | 3.3e-17 | PASS |
| Severe · Target-tranche recovery % | 28.087% | 28.087% | -4.4e-16 | PASS |
| Recommendation (PROCEED/HOLD/PASS) | HOLD | HOLD | — | PASS |
| Net leverage — base period | 7.7244 | 7.7244 | -4.4e-15 | PASS |
| EBITDA / interest — base period | 1.3105 | 1.3105 | -1.8e-15 | PASS |
Method: both implementations follow the same formulas (interest on beginning balances, cash-first maturity repayment, market-access test, collateral-pool waterfall, IRR on annual flows). The Excel side is a different code path (formulas generated by scripts/build_model.py, calculated by LibreOffice); agreement is therefore an independent check. Regenerate with npm run model:build && npm run model:reconcile. Back to settings