A popular whitepaper by Travis W. Harms, CFA, CPA/ABV, Senior Vice President of Mercer Capital, was recently referenced in a PitchBook article on the overvaluation of unicorn companies.
A popular whitepaper by Travis W. Harms, CFA, CPA/ABV, Senior Vice President of Mercer Capital, was recently referenced in a PitchBook article on the overvaluation of unicorn companies.
Jay D. Wilson, Jr., CFA, ASA, CBA, Vice President and head of Mercer Capital’s Financial Technology practice, recently had his book, Creating Strategic Value Through Financial Technology, reviewed.
In this week’s blog post, we present a select reading list that has helped us keep up with recent legislative developments around equity and executive compensation.
This blog post summarizes our whitepaper that provides an informative overview regarding the valuation of mineral royalty interests within the oil and gas industry. While there are a myriad of factors (mostly out of a royalty holder’s control) impacting the economics of a royalty interest, this blog post focuses on valuation methodology.
This fourth post in a series on selling your RIA focuses on corporate culture, the single most defining element of investment management firms. RIAs are more than EBITDA margins and GIPS compliant performance numbers. Ironic, isn’t it, that culture is rarely negotiated and never mentioned in a purchase agreement?
Royalty underpayment cases are anticipated to remain steady in the current pricing environment. There is an understandable tension between mineral owners’ concern over shrinking payments and operators’ concern over profitability and favorable drilling economics.
As we do every quarter, we take a look at some of the earnings commentary of pacesetters in asset management to gain further insight into the challenges and opportunities developing in the industry.
While ASC 805 permits companies up to one year to finalize and true-up the allocation, it is often the case that a preliminary allocation disclosure includes a full list of identified intangible assets, estimated fair values, and useful lives. Why is this preliminary allocation important?
Travis W. Harms, CFA, CPA/ABV, will be hosting the webinar, Calculating the WACC: Estimation and Evaluation, November 21st, 2017. The webinar will be sponsored by the American Society of Appraisers (ASA).
Taryn Burgess recently attended the National Association of Royalty Owners (NARO) Appalachia Chapter Annual Conference in White Sulfur Springs, West Virginia. Over the two day conference, speakers addressed many topics including certain aspects of lease agreements, current legislation affecting mineral owners, clean water solutions, clean energy programs, legal issues affecting mineral owners, midstream and storage development, and more. Here is an overview of five key takeaways from the conference.
If you’re entering into negotiations to sell your RIA, buckle up, stay composed, be mindful of your goals, and don’t catch deal fatigue.
On June 1, 2017 the Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard to provide additional information to investors. The new standard received approval from the Securities and Exchange Commission on October 23, 2017. This post summarizes several of the major changes coming to audit reports in the near future.
Why did Mesa Royalty Trust outperform all other royalty trusts over the previous two years and what is the nature of its economic rights and restrictions?
The primary danger of an unsolicited offer is that it lures potential sellers into thinking the deal is done and the process will be easy. As with most things in life, if something looks too good to be true, it usually is.
In the latest issue of Mercer Capital’s Bank Watch, we update our analysis of trends in CDI assets recorded in whole bank acquisitions completed from 2008 through the third quarter of 2017.
Timothy R. Lee, managing director of Mercer Capital, will be presenting at the 2017 Las Vegas ESOP Conference & Trade Show November 9 – 10.
Travis W. Harms will present “Valuing Investments in Start-Ups” at the AICPA’s 2017 Forensic & Valuation Services Conference November 15, 2017, in Las Vegas, Nevada.
Fair value measurement has been a hot topic during the last few years, increasingly attributable to PCAOB identified audit deficiencies and heightening scrutiny over the existing fair value framework and related auditing standards. In this post, we take a look at the causes of attention and recent responses from professionals and professional organizations.
We’ve been asked to review unsolicited offers to buy an asset management firms many times. As such, we thought it would be worth taking a few blog posts to talk about unsolicited offers, how to approach them, evaluate them, and decide whether to pursue or reject them.
When comparing a royalty interest to an ORRI, it is critical to understand the subtle nuances of the rights and restrictions between the two. Owners of royalty interests utilizing Permian Basin Royalty Trust as a valuation gauge should adjust for such differences as well as other differences between publicly traded and non-marketable securities.
Chris Mercer, founder and CEO of Mercer Capital, is presenting two topics: Confessions of a Reluctant Expert Witness and The QMDM & the Myth of the Minority Interest Discount
Mercer Capital is sponsoring Transitions West 2017 (November 1-3) – a conference for family companies by family companies. Travis Harms, leader of our Family Business Advisory Practice, is attending.
Taryn E. Burgess is attending the National Association of Royalty Owners (NARO) Appalachia Conference October 29 – 31st
In this blog post, we outline prevalent general themes in the downstream oil market that have given refiners hope for 2018 as well as those that cause skepticism about the future.