Course curriculum

  • 1

    Introduction to Corporate Valuation

    • Course introduction

    • Downloadable files

    • Learning objectives

    • Why perform business valuation?

    • Art vs. science

    • Overview of corporate valuation methods

    • Interactive exercise 1
  • 2

    Equity Value vs. Enterprise Value

    • Equity value vs. enterprise value

    • Terminology

    • Net debt defined

    • Enterprise value and equity value exercise template

    • Enterprise value and equity value calculations

    • Interactive exercise 2
  • 3

    Valuation Multiples

    • Introduction to valuation multiples

    • Allocating cash flow by investor type

    • EV/Revenue multiple

    • EV/EBITDA and EV/EBIT multiples

    • EV/Capital Employed and ROCE

    • EV/Free Cash Flow multiple

    • Interactive exercise 3

    • Price-Earnings (P/E) ratio

    • Price-Book (P/B) ratio

    • Price-Cash Flow (P/FCFE) ratio

    • When to use each type of multiple

    • Valuation multiples and ratios summary

    • Interactive exercise 4
  • 4

    Comparable Company Analysis (Comps)

    • Pros and cons of comparable company analysis

    • Example comps table

    • Steps for performing comps anlaysis

    • Selecting a comps universe

    • Interactive exercise 5

    • Comparable company analysis exercise template

    • Comps table calculations

    • Valuing a company using comps table
  • 5

    Precedent M&A Transactions (Precedents)

    • Pros and cons of M&A precedents

    • Example precedent transaction

    • Steps in performing precedent analysis

    • Selecting M&A transactions

    • Interactive exercise 6

    • Precedent M&A transaction exercise template

    • Precedent transactions calculations

    • Valuing a company using precedent transactions
  • 6

    Discounted Cash Flow (DCF) Model

    • DCF analysis overview

    • Step 1: Gathering information

    • Step 2: Comprehensive analysis

    • PEST and Porter's 5 Forces

    • Competitive advantage and lifecycle analysis

    • Assessing management

    • SWOT analysis

    • Interactive exercise 7

    • Step 3: Determining assumptions

    • Step 4: Building the cash flow model

    • Free Cash Flow to the Firm (FCFF)

    • DCF model exercise download

    • Setting up the structure for DCF model

    • Dates and timeline for the model

    • Calculating free cash flow to the firm

    • Terminal value calculation

    • XNPV calculation

    • XIRR calculation

    • Interactive exercise 8
  • 7

    Weighted Average Cost of Capital (WACC)

    • Introduction to WACC

    • Factors affecting the cost of equity

    • Capital Asset Pricing Model (CAPM)

    • Beta

    • WACC formula

    • WACC and beta exercise download

    • Beta calculation

    • WACC calculation

    • Interactive exercise 9
  • 8

    Presentation of Results

    • Analysis and presentation of results

    • Valuation model template download

    • Overview of the Football Field Chart

    • Calculating comps values for the chart

    • Calculating precedents values for the chart

    • Final data for the Football Field

    • Building and formatting the chart
  • 9

    Conclusion

    • Download completed valuation analysis model

    • Recap of learning objectives

    • Summary
  • 10

    Qualified Assessment

    • Qualified assessment

    • Share Your Feedback

    • Course Completion