Company Valuation

Company Valuation free download

The complete valuation guide with practical examples and downloadable exercises and cases.

The aim of the course is to teach delegates the principle practical techniques used in company valuation for equity analysis and corporate finance valuation.   Suitable for those with little valuation knowledge, and a great refresher for those who need some practical insight and application - this is all you need to approach valuation with confidence.

The program comes in two main sections: Comps, and DCF. 

Delegates will also be supplied with our DCF and Comps checklists to help them produce quality consistent valuations. The course will focus on the key issue of achieving consistency and robustness in valuation. The modules in this program cover the follow topics:

1. Introduction to valuation - what are the techniques and what are we going to cover

2. Conceptual foundations - annuities, perpetuities, Cost of Equity and P/E ratios, ROCE and ROE

COMPS (Comparable company analysis)

3. What is Comps all about and how it works - P/E, P/S, EV/EBITA: which to use when and some practical exercises to work through in excel, with a full tutor debrief

4. Valuation in context - a look at some market P/Es and how different geographies and different sized companies show different characteristics.  How does that influence your choice of comparable?

5. What makes a company comparable? When looking for comparable companies as a benchmark, what are we looking for and how critical this is to our valuation: no company is average!

Take away a Comparables summary checklist (PDF)

DCF (Discounted Cash Flow)

6. How does DCF compare - who uses it and why?

7. DCF Components and Calculations: What cash flow (FCFF vs FCFE), relevant cash flows, perpetuities and how to apply a 2-stage DCF computation. A downloadable exercise with a full tutor debrief will ensure you get to grips with the numbers.

8. The WACC: what weights to we apply to Costs of Debt and Cost of Equity; how to estimate the Kd and Ke using market data and statistics, adjusting for risk.

9. First DCF: Completing a full application of a DCF in a downloadable exercise, with full tutor debrief showing computation of the WACC, and the application to FCFF.

Take away a DCF summary cheat-sheet (PDF)

10. Advanced DCF considerations: reversing out implied growth, leveraging and deleveraging the Beta (asset beta vs equity beta)