Full Picture Investment

Today, EBITDA asset valuations, discounted-cash-flow and IRR hurdle rates are used extensively throughout business to help determine a prospective investment’s value.  

At Full Picture Investment LLC our dislike of EBITDA asset valuations rivals Warren Buffett and Charlie Munger’s legendary dislike of EBITDA asset valuations.  

We dislike EBITDA asset valuations so much we decided to do something about them.  We have spent several years developing an EBITDA asset valuation replacement.  Successfully replacing EBITDA asset valuations requires EBITDA’s replacement to be conclusively better than EBITDA.  We can show you how our EBITDA replacement is remarkably better than EBITDA asset valuations.

EBITDA's "fix" identifies and resolves two previously unaddressed root valuation shortcomings: ignored time-value axioms and circular computational references.  Along the way shoring up EBITDA valuation shortcomings, we also address all the other traditional valuation shortcomings. 

See the one page “Asset Valuation Assessment”.

Our EBITDA replacement unifies an investment’s three discounted-cash-flow metrics.  An investment’s given NPV equity cost now equals both the investment’s equity IRR and  a new timevalue ROE.  Using EBITDA’s replacement, if your NPV capital cost uses 30%, your investment’s equity cash flow IRR will also equal 30% and the investment’s time-value ROE will also equal 30%.

EBITDA replacement’s unification of NPV, IRR & ROE is very, very compelling to business professionals.  EBITDA asset valuations can’t unify NPV, IRR & ROE . . .  EBITDA’s replacement can.

Review the asset valuation research paper “The Fall of EBITDA Asset Valuations”.  

Full Picture Investment LLC has developed EBITDA replacement valuation software.  An Excel add-in spreadsheet function, =FPI( [input], [input], [input] . . .), captures the new hybrid asset valuation’s methodology.

Download a trial version of the add-in software and begin easily solving asset valuations using your existing assumptions.  FPI( ) solved hybrid asset valuations automatically unifies NPV, ROE & IRR and automatically generate the valuation’s prospective Financial Statements, as depicted in the research paper’s Appendix E.

Ask your financial experts if their asset valuations can unify NPV, IRR & ROE.  Their answer will be they can’t unify prospective NPV, IRR & ROE, nor produce an investment’s fully integrated Financial Statements.  Now you can.  FPI’s unified NPV, IRR & ROE metrics and integrated Financial Statements, affirming their corresponding asset valuation, provide business professionals unparalleled investment ‘go/no go’ decision comfort.  

FPI’s unparalleled investment decision comfort means your investment’s actual NPV, IRR & ROE unified metrics will better approach the initial ‘go/no go’ investment decision metrics.

Welcome to Our New Site

posted 03/01/22

Welcome to Full Picture Investment (FPI).  We embarked several years ago on a journey to understand the various methods used to value investment opportunities.  Along the way, we encountered the usual traditional investment valuation short-comings. Towards the end of our journey we formulated a new hybrid valuation method to address those traditional short-comings.

Have you ever pondered why all of today's different investment discipline's valuation methods couldn't be unified under a single method?  Along our journey's path, we began to think about the possibility of a single unified method ourselves.  

The time-value of money doctrine states a future amount is valued at a discount to an amount today.  Does not the time-value of money doctrine and its discounted-cash-flow concept touch equally every investment opportunity in every investment disclipine?  Does not the current lack of a unified investment valuation...