Backlog Analysis

A method of tracking the behaviour of groups of customers (cohorts) who share a common characteristic — typically their acquisition date — over time. Cohort retention analysis reveals whether product improvements are genuinely improving customer retention by isolating the performance of each intake group, and is essential for forecasting lifetime value and revenue trajectory in subscription businesses.

A valuation methodology that estimates a company's value by comparing it to similar publicly traded companies using financial ratios such as EV/Revenue or EV/EBITDA. Comps provide a market-based reference point but may undervalue intangible-heavy businesses if peers are not well matched.

A forecasting and valuation technique based on the logistic growth function, which models the adoption or diffusion of technology, products, or innovations as a characteristic S-shaped curve with slow initial growth, rapid acceleration, and eventual saturation. S-curve analysis is used in intangible asset valuation to project revenue trajectories for technology assets, assess the remaining useful life of patents, and evaluate where a product sits in its lifecycle.

A productivity measurement technique that compares a firm's or sector's performance against the theoretical maximum output achievable with given inputs. Frontier analysis methods, including data envelopment analysis and stochastic frontier analysis, reveal inefficiencies and quantify the productivity gap attributable to underinvestment in intangible assets.

The US GAAP standard on lease accounting that, like IFRS 16, requires lessees to recognise right-of-use assets and lease liabilities for most leases. ASC 842 retains a distinction between operating leases (straight-line expense) and finance leases (front-loaded expense) on the income statement, unlike IFRS 16 which treats all leases similarly.

An identifiable intangible asset representing the value of unfulfilled orders or contracts at the date of a business combination. Backlog intangibles are recognised separately under purchase price allocation and are amortised as the underlying orders are fulfilled.

A valuation methodology that estimates a company's value by analysing the prices paid in comparable M&A transactions. Precedent transactions incorporate control premiums and strategic value that may not be captured in public market comparables.

A budgeting method in which all expenditures must be justified from scratch each period, rather than being based on prior-period budgets with incremental adjustments. ZBB forces rigorous scrutiny of intangible investment decisions — including R&D, marketing, and training — and can improve capital allocation discipline when applied alongside productivity measurement.

How accurate are Opagio's royalty rate benchmarks?

They are indicative. The free Single-Asset Value Check applies a published median royalty rate for the asset type, with its source, but real rates vary by deal, so a formal valuation needs a rate benchmarked from comparables.

What if I disagree with Opagio's valuation?

Opagio valuations are transparent — you can see all assumptions and adjust them. If you disagree with a specific input (royalty rate, discount rate, useful life), change it and re-run.

What happens if I disagree with Opagio's valuation?

All valuations depend on assumptions. Opagio provides sensitivity analysis so you can adjust inputs, test different scenarios, and align conclusions with your own views.