Given high(er) interest rates, discounted cash flow analyses yield (much?) lower values for companies, as many VCs hoping for liquidity are now learning. So, no, I doubt that Birkenstock is worth $10 billion in the public markets. I think a lot of people will need to read up on bond vigilantes. Lots of capital flowing towards fixed income and away from equity. Buckle up.
Given high(er) interest rates, discounted cash flow analyses yield (much?) lower values for companies, as many VCs hoping for liquidity are now learning. So, no, I doubt that Birkenstock is worth $10 billion in the public markets. I think a lot of people will need to read up on bond vigilantes. Lots of capital flowing towards fixed income and away from equity. Buckle up.
Very true. Could make sense to hold off but I think they made the decision last week to just push through with listing.