Interview Question for Investment Banking Analyst at Macquarie Group:

I've gotten a lot of open ended valuation questions like this.

Before doing anything, you say to the interviewer: I would value it two ways - intrinsically (DCF) and according to the market (Comps and Precedent Transactions)

DCF - you pretty much do a straight-shoot DCF; however make sure to state that you will have non-recurring one-time expenses that you might have to adjust for. Also, you would also have to take into account different royalties that are paid out to the managing board.