LBO & Paper LBOHard

A company has 40% EBITDA margins but they have been flat for a decade with no obvious cost waste. Is this good or bad for an LBO, and why?

Model answer

It is a double-edged trait. The high, stable margin is good — it signals strong unit economics, pricing power, and predictable cash flow for debt service. But the lack of any operational slack is a…

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