Valuation Requirements

Valuation Requirements

Minimum inputs needed to produce each valuation model. If a seller cannot provide these, the model is flagged Assumed and widened.

Multiples Method

Required:

  • Revenue (TTM)
  • EBITDA (TTM)
  • Growth rate (YoY)

Nice to have:

  • Revenue by segment
  • Margin trend (3 years)

DCF

Required:

  • Historical revenue 3 years
  • Historical cost structure
  • Capex
  • Working capital changes

Required assumptions (document each):

  • Revenue growth year 1-5
  • EBITDA margin trajectory
  • Churn / retention
  • WACC (12-18% for this sector)
  • Terminal growth (2-3%)

Unit Economics

Required:

  • CAC by channel
  • LTV (cohort-based, not simple)
  • Payback period
  • Gross margin per user
  • Net revenue retention

Asset Floor

Required:

  • User count (paying + free)
  • Content library size
  • Domain(s) and TMs
  • Tech stack replacement estimate
  • Brand value proxy (search volume, direct traffic %)

Output Format

Each targets/<name>/specs/valuation.md must end with:

## Triangulated Range
- Low:  X EUR  /  Y CZK
- Mid:  X EUR  /  Y CZK
- High: X EUR  /  Y CZK

## Offer
- Recommended opening: X EUR
- Walk-away:            Y EUR
- Structure:            (all-cash / earnout / equity roll / etc.)