M&A · Closing mechanics

Working capital pegs that end the argument.

Load the target's monthly NWC, mark the one-offs and debt-like items, and see every methodology — LTM average, weighted, median, quarter-ends, seasonalized — side by side. Walk into the next call with a number you can defend.

Start a deal How it works

Load the schedule

Enter or paste monthly balances for AR, Inventory, AP and the rest of working capital. Add custom lines for anything deal-specific.

Normalize

Strip out one-offs, reclassify miscoded items, and flag debt-like balances so they show up in the bridge — not the peg.

Compare methodologies

Seven peg calculations on the same screen, plus DSO / DPO / DIO sanity checks. Pick a peg, set a collar, export the memo.

What you get

· LTM 12-month simple average
· 3 / 6 / 24-month averages
· Linearly-weighted recent-months average
· Median (outlier-robust)
· Quarter-ends only (US deal convention)
· Seasonalized same-month average
· P25–P75 negotiation band + collar
· DSO / DPO / DIO sanity checks