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Active filters: firm: AlvarezMarsal ×
317 slides across 15 decks match.
Treemap Arc Catalog
The price for taking equity risk in Germany is on the rise again after its recent downward trend
AlvarezMarsal · 2023 · financial_analysis
The price for taking equity risk in Germany is on the rise again after its recent downward trend
~7% — Implied market risk premium (MRP)
 In a one-year comparison, forward multiples show the highest recovery in Chems & Pharma and Transportation
AlvarezMarsal · 2023 · peer_benchmark
In a one-year comparison, forward multiples show the highest recovery in Chems & Pharma and Transportation
10.1x — Forward EV/EBITDA 2023 multiple
 US firms are priced at a premium compared to CDAX firms, most prominent in Information Technology
AlvarezMarsal · 2023 · peer_benchmark
US firms are priced at a premium compared to CDAX firms, most prominent in Information Technology
20.4x vs 8.3x — Forward EV/EBITDA 2023 (Information Technology, USA vs Germany)
 Over the last year, price tags in European M&A transactions mostly imply discounts to LTM trading pricing levels
AlvarezMarsal · 2023 · peer_benchmark
Over the last year, price tags in European M&A transactions mostly imply discounts to LTM trading pricing levels
16.2x — LTM EV/EBITDA transaction multiple
 In recent years, the market capitalization of real estate companies decoupled from their net asset values
AlvarezMarsal · 2023 · financial_analysis
In recent years, the market capitalization of real estate companies decoupled from their net asset values
0.4x — P/NAV ratio (residential real estate, Jul-23)
 The declining market capitalization of real estate companies is largely explained by interest rate increases
AlvarezMarsal · 2023 · financial_analysis
The declining market capitalization of real estate companies is largely explained by interest rate increases
 Despite interest rate increases, discount rates used in the valuation of real estate portfolios were not yet adjusted
AlvarezMarsal · 2023 · financial_analysis
Despite interest rate increases, discount rates used in the valuation of real estate portfolios were not yet adjusted
4.8% — Average Discount Rate (residential real estate)
 Loan-to-value ratios of residential real estate companies have risen considerably over the previous two years
AlvarezMarsal · 2023 · financial_analysis
Loan-to-value ratios of residential real estate companies have risen considerably over the previous two years
44.3% — Residential LTV ratio (Jun23)
 P/FFO multiples have deteriorated and are forecasted to remain low in the future
AlvarezMarsal · 2023 · financial_analysis
P/FFO multiples have deteriorated and are forecasted to remain low in the future
10.7x — P/FFO multiple (residential real estate)
 Rising interest rates, improved cost efficiency and lower impairment charges led to an increase in profitability for KSA banks
AlvarezMarsal · 2022 · kpi_dashboard
Rising interest rates, improved cost efficiency and lower impairment charges led to an increase in profitability for KSA banks
14.8% — Return on Equity (RoE)
 Higher interest income and lower impairment charges boosted the net profit
AlvarezMarsal · 2022 · financial_analysis
Higher interest income and lower impairment charges boosted the net profit
16.53 — Net income
 L&A growth continued to outpace deposits' growth
AlvarezMarsal · 2022 · framework_2x2
L&A growth continued to outpace deposits' growth
2.9% — QoQ Growth
 LDR for most of the KSA banks increased in Q3'22
AlvarezMarsal · 2022 · key_takeaways
LDR for most of the KSA banks increased in Q3'22
96.2% — Loans to Deposits Ratio
 Operating income grew at a faster pace in Q3'22 than the previous quarter
AlvarezMarsal · 2022 · financial_analysis
Operating income grew at a faster pace in Q3'22 than the previous quarter
30.8 — Operating Income
 NIMs expanded marginally as higher funding costs offset improvement in credit yield
AlvarezMarsal · 2022 · financial_analysis
NIMs expanded marginally as higher funding costs offset improvement in credit yield
3.05% — Net Interest Margin
 Eight out of top ten KSA banks reported an expansion in NIM
AlvarezMarsal · 2022 · financial_analysis
Eight out of top ten KSA banks reported an expansion in NIM
7bps — Net Interest Margin
 KSA banks exhibited improved cost efficiency for the third consecutive quarter
AlvarezMarsal · 2022 · kpi_dashboard
KSA banks exhibited improved cost efficiency for the third consecutive quarter
31.9% — Cost to Income Ratio
 Eight out of ten banks saw improvement in cost efficiency
AlvarezMarsal · 2022 · kpi_dashboard
Eight out of ten banks saw improvement in cost efficiency
88bps — Cost to Income Ratio
 Asset quality improved for most banks while coverage ratio declined
AlvarezMarsal · 2022 · kpi_dashboard
Asset quality improved for most banks while coverage ratio declined
1.5% — Coverage Ratio
 Cost of risk declined due to reduction in impairment charges
AlvarezMarsal · 2022 · financial_analysis
Cost of risk declined due to reduction in impairment charges
9bps — Cost of Risk
 SIB and ANB majorly drove the aggregate cost of risk
AlvarezMarsal · 2022 · financial_analysis
SIB and ANB majorly drove the aggregate cost of risk
-9bps — Cost of Risk (bps)
 Return on equity has improved since past three quarters to reach above the pre-pandemic level
AlvarezMarsal · 2022 · kpi_dashboard
Return on equity has improved since past three quarters to reach above the pre-pandemic level
14.8% — Return on Equity
 Rising interest rates and improvement in asset quality are positives for KSA banks
AlvarezMarsal · 2022 · kpi_dashboard
Rising interest rates and improvement in asset quality are positives for KSA banks
14.8% — Return on Equity
 2023 EBA Stress Test Results are out – Although results show the second highest capital depletion in stress history, given strong capital positions, remaining buffers and improved profitability, most banks will be able to increase dividends and share buybacks.
AlvarezMarsal · 2023 · key_takeaways
2023 EBA Stress Test Results are out – Although results show the second highest capital depletion in stress history, given strong capital positions, remaining buffers and improved profitability, most banks will be able to increase dividends and share buybacks.
459bps — CET1 depletion
 2023 EBA Stress Test impact shows less capital depletion compared to ST'21 (measured as 2022 CET1 to adverse FL) (459bps vs. 485bps). Also, capital flexibility shows better results (488bps vs. 466bps).
AlvarezMarsal · 2023 · financial_analysis
2023 EBA Stress Test impact shows less capital depletion compared to ST'21 (measured as 2022 CET1 to adverse FL) (459bps vs. 485bps). Also, capital flexibility shows better results (488bps vs. 466bps).
459bps — CET1 Ratio
 Capital flexibility has improved as compared to ST'21 due to higher CET1 starting point level. Only one bank falls below 5.5% (Banque Postale) and only 17 banks ends with low levels of buffer and CET1 post stress below 9%.
AlvarezMarsal · 2023 · scatter_plot
Capital flexibility has improved as compared to ST'21 due to higher CET1 starting point level. Only one bank falls below 5.5% (Banque Postale) and only 17 banks ends with low levels of buffer and CET1 post stress below 9%.
459bps — CET1 ratio
 1. EBA Stress Test Impacts
AlvarezMarsal · 2023 · data_table
1. EBA Stress Test Impacts
-459 — Stressed CET1 Depletion
 Worst capital depletion banks on fully loaded basis are La Banque Postale, de Volksbank and Barclays. Best capital depletion banks on fully loaded basis are Bank Polska, Länsförsäkringar Bank and Caixa Geral de Depositos.
AlvarezMarsal · 2023 · data_table
Worst capital depletion banks on fully loaded basis are La Banque Postale, de Volksbank and Barclays. Best capital depletion banks on fully loaded basis are Bank Polska, Länsförsäkringar Bank and Caixa Geral de Depositos.
-1462 — Stressed CET1 Depletion
 1. EBA Stress Test Impacts
AlvarezMarsal · 2023 · benchmark_peers
1. EBA Stress Test Impacts
-1025 — Stressed CET1 Depletion
 A deep dive on credit risk impacts shows Corporates SME and Retail Secured by real estate property – Non-SME as most sensitive asset classes measured by Provision Multipliers for Stage 2 and 3.
AlvarezMarsal · 2023 · data_table
A deep dive on credit risk impacts shows Corporates SME and Retail Secured by real estate property – Non-SME as most sensitive asset classes measured by Provision Multipliers for Stage 2 and 3.
x 2.4 — Provision Multiplier
 No incremental capital needs with only one bank falling below the old 5.5% CET1 minimum threshold (La Banque Postale)
AlvarezMarsal · 2023 · financial_analysis
No incremental capital needs with only one bank falling below the old 5.5% CET1 minimum threshold (La Banque Postale)
5.5% — CET1 ratio
 2. Potential for Capital Distribution - Dividends and Buybacks
AlvarezMarsal · 2023 · process_diagram
2. Potential for Capital Distribution - Dividends and Buybacks
 2. Potential for Capital Distribution - Dividends and Buybacks
AlvarezMarsal · 2023 · data_table
2. Potential for Capital Distribution - Dividends and Buybacks
18.37% — Excess Capital (%)
 Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
AlvarezMarsal · 2023 · data_table
Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
8.99% — Excess Capital (%)
 Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
AlvarezMarsal · 2023 · data_table
Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
 Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
AlvarezMarsal · 2023 · framework_2x2
Assuming the 2021 EBA Stress Test Methodology, P2G drives winners and losers in the dividend reset race.
4.2% — Excess Capital
 3. The Future of Stress Test. What to expect going forward?
AlvarezMarsal · 2023 · roadmap
3. The Future of Stress Test. What to expect going forward?
 Pessimism and cutting back spending in Europe
AlvarezMarsal · 2020 · bubble_chart
Pessimism and cutting back spending in Europe
 A&M: A Global Professional Services Firm
AlvarezMarsal · 2021 · context
A&M: A Global Professional Services Firm
5,000+ — Employees
 A&M adds substantial value to any complex situation.
AlvarezMarsal · 2021 · key_messages
A&M adds substantial value to any complex situation.
 A&M Asia Supports Clients in 5 Core Areas
AlvarezMarsal · 2021 · other
A&M Asia Supports Clients in 5 Core Areas
 Serving Private Equity Clients, Private Debt, and Special Situations Investors
AlvarezMarsal · 2021 · section_divider
Serving Private Equity Clients, Private Debt, and Special Situations Investors
 Our Integrated Diligence is a Unique Solution
AlvarezMarsal · 2021 · framework_other
Our Integrated Diligence is a Unique Solution
 Performance Improvement Drives Value Creation
AlvarezMarsal · 2021 · other
Performance Improvement Drives Value Creation
 A&M’s Rapid Results Approach to Value Creation
AlvarezMarsal · 2021 · process_diagram
A&M’s Rapid Results Approach to Value Creation
 KSA banks continued lending momentum and saw improvement on the cost efficiency front
AlvarezMarsal · 2024 · kpi_dashboard
KSA banks continued lending momentum and saw improvement on the cost efficiency front
3.7% — L&A Growth
 Despite rate cuts, higher NII and Fee / Other Income contributed to the earnings growth
AlvarezMarsal · 2024 · financial_analysis
Despite rate cuts, higher NII and Fee / Other Income contributed to the earnings growth
20.5bn — Net Income
 Banks continue to expand credit outlay which has outpaced deposit mobilization
AlvarezMarsal · 2024 · quadrant_chart
Banks continue to expand credit outlay which has outpaced deposit mobilization
3.7% — QoQ Growth
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