EV / EBITDA di CQS New City High Yield Fund Ltd. è N/A
EV / EBITDA è il valore aziendale diviso per guadagni prima di interessi, tasse, deprezzamento e ammortamento. È una misura di quanto sia costosa una azione ed è più frequentemente valida per i confronti tra le aziende rispetto al rapporto prezzo / guadagno. Misura il prezzo (sotto forma di valore d'impresa) che un investitore paga a vantaggio del flusso di cassa della società (sotto forma di EBITDA).
Price to earnings ratios are impacted by a company's choice of capital structure - companies which raise money via debt will have lower P/Es (and therefore look cheaper) than companies that raise an equivalent amount of money by issuing shares, even though the two companies might have equivalent enterprise values. A sample case is when a company with debt were to raise money by issuing shares of stock, and then used the money to pay off the debt, this company's P/E ratio would shoot up because of the increased number of shares - although nothing about the fundamental value of the business has changed. EV / EBITDA is unaffected by capital structure as enterprise value includes the value of debt, and EBITDA is available to all investors (debt and equity) as it excludes interest payments on that debt. It is ideal for analysts and potential investors looking to compare companies within the same industry.
CQS New City High Yield Fund Limited is a close ended fixed income mutual fund launched by CQS Asset Management Ltd. The fund is managed by CQS (UK) LLP. It invests in fixed income markets. The fund primarily invests in fixed income securities such as corporate and government bonds, loan stocks, and high yielding bonds. It uses a value approach to create its portfolio. The fund was formerly known as New City High Yield Fund Limited. CQS New City High Yield Fund Limited was formed in October 2004 and is domiciled in the Channel Islands.