Capital stack builder

Type in a company’s debt, most senior first. The stack, the leverage and the recoveries update as you go. Nothing you enter leaves your browser.

The company

The debt

Rank 1 is paid first. Give two tranches the same rank if they share equally.

Total debt
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Leverage
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Enterprise value
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Left for equity
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The stack

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By class

Recovery at this valuation, and the multiple each price creates the business at

ClassAmountLeverageCreated atRecoveryVersus price

Get this as an Excel template

Value is the multiple times EBITDA, paid out in order of rank. Cash, fees and claims other than funded debt are left out of recoveries. “Created at” counts debt ahead at face, the class at its price, less cash.