Selected Work
Sell-Side Advisory · Pitchbook
2026
Project Carolina — nCino (NAS: NCNO)
Sell-Side Advisory Pitchbook
- Full sell-side advisory pitchbook for nCino, a vertical SaaS leader in lending-focused financial technology
- Valuation architecture: DCF (three methods), trading comps across three peer buckets (business model, retention profile, growth profile), and precedent transactions
- Concluded 8.5x–9.5x NTM revenue target purchase multiple implying $5.5B–$6.1B EV and ~150%+ premium to spot
- Includes buyer universe, illustrative process timeline, structural issues (Salesforce dependency, consumption pricing transition), and execution risks
Sell-Side M&A
DCF
Trading Comps
Precedent Transactions
Football Field
Buyer Universe
FinTech SaaS
Sell-Side Advisory · Pitchbook
2026
Project Maven — Appian (NAS: APPN)
Sell-Side Advisory Pitchbook
- Sell-side advisory pitchbook for Appian, a low-code enterprise automation platform with a dominant government moat
- Identified 68% in unrealized value versus current trading levels at 2.0x LTM revenue
- Targets 3.0x–3.5x NTM revenue purchase multiple via broad buyer auction; Salesforce and ServiceNow identified as Tier 1 strategics
- Includes competitive moat analysis, DCF, three trading comp sets, precedent transactions, and transaction considerations
Sell-Side M&A
DCF
Trading Comps
Gov't SaaS
FedRAMP / IL5
Buyer Universe
Enterprise Software
Leveraged Buyout · Analysis
2026
Project Orbit — GitLab (NAS: GTLB)
Sponsor Take-Private · LBO Analysis
- Full LBO analysis on GitLab, the sole public pure-play DevSecOps platform, modeled as a 30% premium take-private at $33.31/share and $5.1B TEV
- Capital structure: 12.0x gross leverage (8.0x TLB + 3.0x second lien PIK); 54.6% sponsor equity check of $3.6B
- 7-year hold with detailed debt schedules, FCF sweep mechanics, and returns analysis — base case 3.1x MoM / 17.4% IRR
- IRR sensitivity across entry price and exit multiple; hurdle rate clears at 25x NTM EBITDA entry vs. 28.7x base
- Includes value creation attribution waterfall and capital structure evolution charts
LBO
Take-Private
Debt Schedule
IRR / MoM
FCF Sweep
DevSecOps
Sponsor Returns
Software · Valuation Tool
2025
Dynamic Comps Engine
Python · Streamlit · Real-Time Comparable Company Analysis
- Real-time comparable company analysis platform with multi-factor similarity scoring and VIX-regime detection
- Dynamically weights peer groups and applies sector-specific multiples to derive fair value
- Outputs a fairness opinion range; built end-to-end in Python with a Streamlit front-end
Python
Streamlit
Yahoo Finance
Fair Value
VIX Regime
Leveraged Buyout · Model
2025
Leveraged Buyout — Ducommun (NYSE: DCO)
Defense Manufacturer · Sponsor Returns Analysis
- Structured $600M debt package across 3 tranches, modeling amortization, cash sweeps, and covenant compliance over a 5-year hold
- Modeled debt paydown waterfall using interest coverage, amortization, and 95% cash sweep — de-levering from 6.2x to 2.3x at exit
- Ran sensitivity analyses on entry/exit multiples, leverage, and EBITDA; achieved 2.7x MOIC and 22% IRR in the upside case
LBO
Debt Schedule
IRR Analysis
Defense
Excel
M&A · Merger Model
2025
Merger Model — Boeing (NYSE: BA) / ISSC (NAS: ISSC)
Accretion / Dilution · Hypothetical Strategic Acquisition
- Accretion/dilution analysis for a hypothetical acquisition of ISSC by Boeing
- Modeled purchase price allocation, synergies, and pro forma EPS impact across multiple deal structures
Merger Model
Accretion / Dilution
PPA
Synergies
Excel
Valuation · DCF
2025
DCF Analysis — ISSC (NAS: ISSC)
5-Year Projection · WACC · Sensitivity Analysis
- Full discounted cash flow model with 5-year financial projections and WACC build via comparable beta unlevering/relevering
- Two-variable sensitivity analysis across WACC and terminal growth rate; derived implied share price vs. trading price
DCF
WACC
Sensitivity Analysis
Excel
Software · Economics Simulation
2025
City Dynamics — Agent-Based Simulation
JavaScript · Economic Theory · Interest Rate Modeling
- Pixel-art agent-based society simulation studying the behavioral impact of economic incentives
- Interest rates influence autonomous agents' reinvestment decisions; agents respond dynamically to scarcity and hunger signals
JavaScript
Agent-Based Models
Economic Theory
Interest Rate Modeling
Walkthroughs
Short recordings walking through the methodology and thinking behind the work — no slides, no script.
Similarity scoring algorithm, sector-specific multiples, and VIX regime detection.
Accretion/dilution analysis, PPA assumptions, and synergy modeling.
Five-year projection, WACC calculation, and sensitivity table construction.
Entry/exit multiples, debt scheduling, and sponsor return scenarios.
How behavioral agents react to hunger, scarcity, and interest rate adjustments.