Report Library

Data + Valuative = Insight

Our reports and charts let you paint the big picture and drill into details

See the complete list of Valuative reports below.

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In Valuative, “investor” means any designated owner of a security. This includes external financial investors, management, and employees, regardless of whether they actually paid cash for the shares.

Interactive Chart Library

Interactive Chart: Head-to-Head Comparison By Investor (1+ Capital Structures)

See the payout in dollars to a single investor over the entire exit range. Plot one or more payoff curves side-by-side.

  • Compare how alternative capital structures pay off for a given investor
  • Rolls up proceeds across all of investor’s investments
  • Or just view a single investor’s payoff curve in one capital structure
Interactive Chart: Head-to-Head Cash Multiple Comparison By Investor (1+ Capital Structures)

See the cash-on-cash multiple for a single investor over the entire exit range. Plot one or more payoff curves side-by-side.

  • Compare how alternative capital structures pay off for a given investor
  • Determine what exit is required to hit a target level of return (e.g., “5X”) in each alternative
Interactive Chart: Payout By Investor, Across All Securities (One Capital Structure)

For a single capital structure, see the payout each investor receives—rolled up across all their investments—at each exit value.

  • The classic “waterfall” chart showing payouts by investor
  • Automatically aggregates proceeds from all their investments in all securities in the capital structure
Interactive Chart: Payout By Security, Across All Investments (One Capital Structure)

For a single capital structure, see the payout curve for each security receives at each exit value.

  • The classic “waterfall” chart showing payouts by security
  • Aggregates proceeds across all investments in a security, including multiple tranches
  • See where convertible securities (like preferred, options, warrants, and debt) choose to convert, exit value range over which their proceeds are capped, etc.
Interactive Chart: Payout By Investor By Security
(Dynamic Bar Chart with Exit Value Slider)

For a single capital structure, trace the payouts to an investor by the securities owned. Easily observe which securities yield the most proceeds at each exit value.

  • Helps investors, especially those investing over multiple rounds, determine the true source of their returns
  • Dynamic slider allows you to toggle exit value, and directly observe the impact on each security’s payout and the investor’s overall proceeds
  • No recalculations necessary—chart updates instantly as you select new exit values
Interactive Chart: Investor Sources of Return (Dynamic Bar Chart with Exit Value Slider)

For a single investor in a given capital structure, trace the payouts to an investor by the securities owned.

Answer questions like “How much did the follow-on investment add to our returns?” and “How big of an impact do additional warrants make to my return?”

  • Helps investors, especially those who own multiple securities, determine the true source of their returns
  • Dynamic slider allows you to toggle exit value, and directly observe the impact on each security’s payout and the investor’s overall proceeds
  • No recalculations necessary—chart updates instantly as you select new exit values

Head-to-Head Capital Structure Comparisons

Quickly determine how alternative scenarios stack up. Compare one or more capital structures side-by-side over a custom range of exit values, in both tabular and graphical formats.

Report: Investor “Return Hurdle” Analysis
Across Multiple Capital Structures

Compare capital structures head-to-head for each investor, with details on cash payout, cash-on-cash multiple and IRR at each exit value.

  • Answer questions like: “what exit value is required for a 30% IRR or 3x cash-on-cash multiple?”
  • Determine which capital structure alternative meets or beats your return targets
  • Quickly zero-in on the financing choices that will and won’t meet your goals
Report: Multi-Capital Structure Summary
For All Investors

Over a range of exit values for each capital structure, see a summary of cash payout, internal rate of return (IRR) and cash-on-cash multiple for all investors.

  • At selected intervals, see how investors fare under alternative capital structure
  • Compare each investor’s payout, payout multiple and IRR at a glance
  • Gain insight into investor incentives
Report: Payout Graph By Investor
Across Multiple Capital Structures

A printable, high-resolution line chart for a single investor showing the cash payout from multiple capital structures over the same range of exit values.

  • Quickly observe where payouts diverge for different capital structures
  • Easily determine which capital structure will yield a greater payout over a given exit range
  • See how different terms in alternative capital structures affect an investor’s proceeds
Report: Cash-on Cash Payout Multiple Graph
By Investor Across Multiple Capital Structures

A printable, high-resolution line chart for a single investor showing the cash-on-cash payout multiple from multiple capital structures over the same range of exit values.

  • Hit your return targets (e.g., “5X” overall) by selecting the best alternative for a given exit range
  • Quickly determine what exit value is required to reach a target level of return for each capital structure

Capital Structure At Exit & Evolution Over Time

See exactly what the capital structure will look like at exit, with all necessary adjustments for anti-dilution, vesting, etc. automatically applied. Trace the evolution of the capital structure, its investors, and its fully-diluted ownership over time.

Report: Anti-Dilution Adjustment Analysis

See the complete math behind all anti-dilution adjustments.

  • Full details on which securities’ anti-dilution provisions were triggered and how
  • Lists the securities included in each formula
  • Shows you the full calculations used to determine shares issued
  • Calculates adjusted share prices, incremental shares issued, and effective share multiplier
Report: Capital Structure Summary By Security (Grouped By Security Type)

See all of the securities of each class and their associated details. Shows anti-dilution and vesting adjustments.

  • Lists cash paid (total) for security, price per share and % of total cash paid
  • Shows total shares of security and outstanding, including on as-converted basis
  • Reveals each security’s fully-diluted ownership on a class basis and overall
Report: Capital Structure Summary By Investor (Grouped By Security Type)

See all of the investors of each class and their associated details. Shows anti-dilution and vesting adjustments, if applicable.

  • Lists cash paid (investor’s total) for security type and % of total cash paid (by security type)
  • Shows total shares owned by investor and outstanding, including on as-converted basis
  • Reveals each investor’s fully-diluted ownership on a class basis and overall
Report: Capital Structure Summary By Security (Grouped By Round)

See all the details of the securities in each round. Shows anti-dilution and vesting adjustments, if applicable.

  • Lists cash paid (total) for security, price per share (if applicable) and % of total cash paid (by security type) for each round
  • Shows outstanding and total shares of security and outstanding, including on as-converted basis, round-by-round
  • Reveals each security’s fully-diluted ownership as a % of the round and overall
Report: Capital Structure Summary By Investor (Grouped By Round)

See the details of securities in each round. Shows anti-dilution and vesting adjustments, if applicable.

  • Shows total shares owned by investor and outstanding, including on as-converted basis, round-by-round
  • Reveals each investor’s fully-diluted ownership as a % of the round and overall
  • Lists cash paid (investor’s total) and % of total cash paid for each round
Report: Investor Cash Participation History (Evolving Capital Structure)

Shows you exactly how much cash went into the company from each investor in each round

  • Cash investment summary for each investor both round-by-round and overall
  • See pattern of cash flows into the company over time
Report: Security Ownership History (Evolving Capital Structure)

Easily track how each security’s fully-diluted ownership has changed over time.

  • Track fully-diluted shares and ownership of each security as of the completion of each round
  • See how much each security has been diluted since its purchase
  • Automatically adjusted for anti-dilution and vesting, if present
Report: Investor Ownership History (Evolving Capital Structure)

See the full details on each shareholder’s stake in the company over time.

  • Details on investor’s ownership as of the completion of each round
  • Rolls up investor’s ownership across all securities in each round and overall
  • Automatically adjusted for anti-dilution and vesting, if present
Chart: Investor Ownership History by Round (Evolving Capital Structure)

See how and when each shareholder has been diluted over time since the company’s inception.

  • Track and compare each investor’s fully diluted ownership over time.
  • Aggregates each investor’s ownership across all securities in each round
  • Automatically adjusted for anti-dilution and vesting, if present
Chart: Security Ownership History by Round (Evolving Capital Structure)

Easily visualize the effect of dilution on each security’s ownership since the company’s founding.

  • Track and compare each security’s fully diluted ownership over time.
  • Automatically adjusted for anti-dilution and vesting, if present
  • Easy-to-understand depiction of dilution impact of historical and prospective financings

Proceeds, Returns, and Conversion Decisions

Get the data you need on the payouts, cash-on-cash multiples, IRRs, and conversion decisions at each exit value.

Report: Exit Proceeds Summary By Security

A quick summary of key exit waterfall data for each security.

  • Shows payouts and returns to each security at selected exit values
  • See total proceeds and proceeds-per-share at each exit value
  • Automatically calculates IRRs and cash-on-cash multiples
Report: Exit Proceeds Summary By Investor

A quick summary of key exit waterfall data for each investor.

  • Shows payouts and returns to each investor at selected exit values
  • Automatically rolls up results for each investor across all investments
  • See total proceeds from all investments at each exit value
  • Calculates blended IRR and cash-on-cash multiples across all investments
Report: Exit Proceeds & Conversion Decisions
By Security (Total)

See the total payout and conversion decision for each security at each interval in the exit value range.

  • Indicates the optimal conversion decision at each exit value (if applicable)
  • Shows you the details behind the traditional “waterfall” charts
  • Reveals total proceeds at exit to each security at each interval
Report: Exit Proceeds & Conversion Decisions
By Security (Per Share)

See the per-share payout and conversion decision for each security at each interval in the exit value range.

  • Indicates the optimal conversion decision at each exit value (if applicable)
  • Shows you the details behind the traditional “waterfall” charts
  • Reveals per-share proceeds at exit to each security at each interval
Chart: Payout Waterfall Chart (By Security)

The traditional “waterfall” payout chart we all know and love for each security.

  • Shows the payout to each security at each exit value
  • Easily compare how each security fares relative to others over the exit range
  • Reveals the incentives of each security at various points over the range
  • Answers key question like: when does Security A start participating? Where does Security B’s cap kick in?
  • Based upon optimal conversion decision for each security
Chart: Payout Waterfall Proportion Chart
(By Security)

Graphs the proportion of the total proceeds paid to each security at each exit value.

  • Track which securities receive the lion’s share of the proceeds over the exit range
  • Visualize how the incremental proceeds are divided up as the exit value rises
  • Illustrates effects of caps, participation and conversion decisions on security payouts
Chart: Payout Waterfall Chart (By Investor)

The traditional “waterfall” payout chart we all know and love for each investor.

  • Shows the payout to each investor at each exit value
  • Aggregates payouts across all investor’s investments
  • Easily compare how each investor fares relative to others over the exit range
  • Reveals the incentives of each investor at various points over the range
Chart: Payout Waterfall Proportion Chart
(By Investor)

Graphs the proportion of the total proceeds paid to each investor at each exit value.

  • Track which investors receive the lion’s share of the proceeds over the exit range
  • Visualize how the incremental proceeds are divided up as the exit value rises
  • Illustrates effects of caps, participation and conversion decisions on investor payouts
  • Aggregates payouts across all investments for each investor

Simulation Assumptions

Verify the inputs used to generate the report, and see detailed information on senior claims (including debt, liquidation preferences, and carve-outs) as of exit.

Simulation Assumptions: Basic Assumptions

See the basic assumptions driving the report.

  • Lists low exit value, high exit value, interval, and exit date
  • Includes user-specified report options for vesting, exercise and acceleration of options.
Simulation Assumptions: Senior Claims In Order

Detailed data indicating amount and user-defined priority order of senior claims.

  • Displays full detail of each claim, so you can connect-the-dots to the proceeds received
  • Automatically shows pari passu claims grouped together
  • Breaks down each liquidation preference, debt, carve-out into elements (see below)
Simulation Assumptions: Liquidation Preference and Participation Caps At Exit (in Senior Claims)

See the full details on each liquidation preference and cap on participation in the capital structure, including adjustments for anti-dilution and annual increases, if any.

  • Each liquidation preference listed in seniority order
  • Details preference payout per share and as a multiple of the share price.
  • Indicates if preferred is convertible or participating
  • Shows participation cap (if any) in dollars per share and as a multiple of the share price.
  • Reveals original amount (in dollars and as multiple) of liquidation preference and as-adjusted for annual increases and anti-dilution adjustments, if any
  • Calculates amount of participation cap as adjusted for anti-dilution, annual increases.
Simulation Assumptions: Debt as of Exit
(in Senior Claims)

See the complete details on each debt instrument’s amount and features, as well as its priority among senior claims.

  • Indicates original principal amount and amount outstanding as of exit
  • Automatically adjusts amount for accrued and unpaid interest
  • Lists maturity date (if any) and date interest payments begin.
  • Details user-specified interest terms and effective annual rate.
  • If convertible, provides details on discounts, multiples, pre-money caps, warrant coverage, etc.
  • Shows whether convertible into existing security or future round of preferred.
Simulation Assumptions: Carve-Outs
(in Senior Claims)

See the full breakdown of each carve-out into its elements and its order among senior claims.

  • Carve-outs listed among senior claims, so you can see when they are due to receive proceeds.
  • Presents each element of the carve-out’s payout structure.
  • See fixed (dollar value) and variable (percentage of proceeds) carve-out elements side-by-side
Simulation Assumptions: Indifference Prices

Found out where each convertible security (Preferred, Debt, Option, Warrant) will convert within the exit range.

  • Calculates exit value at which convertible security is indifferent between converting and not converting.