In a sale
What it changes in a sale
Equity value is what is left for the owners once the debt is repaid and the cash in the business is settled. It is closer to what the founder receives than the headline, but it still comes before fees, the timing of the payments, and tax. Reading an offer from enterprise value down to equity value, and then to net proceeds, is how offers are compared on take-home.
Where it comes up
Read it in context
See the terms with your own numbers
The Go-To-Market Analysis (GTMA) builds the file a buyer would build on your business, before a buyer does.