Introduction to Corporate Valuation

Varying Approaches to Valuation
  • Buyer’s perspective vs. seller’s perspective
  • Differentiating value & price
  • Valuation corrections: premiums and discounts on the value of a capital position
Revised net assets
  • Asset revaluation
  • Consequences of IFRS standards
Cash Flow Approach
  • Capitalisation and discounting
  • Fisher, Gordon & Shapiro, perpetual annuities
  • Cash flow definitions: dividends, free cash flows
Analogical methods (multiples)
  • Price Earning Ratio and share price
  • Dilution
Project Valuation
  • Describing provisional cash flows
  • Using NPV and IRR to compare projects
  • Sensitivity
  • Practical workshop
  • Simplified calculation of the value of a listed company using all three methods
  • Comparison of results

  • Know the major drivers of share value
  • Quickly value a company using market information
  • Find the information you need to make a detailed valuation calculation
  • Evaluate the profitability of a corporate project
  • Quick and simple introduction to the difficulties of corporate valuation
  • Requires no prior financial knowledge
  • Complement to the seminar: Introduction to Financial Analysis
  • Non-financial corporate or bank executives wishing to familiarise themselves with the subject
  • Administration and support functions in corporate banking and investment companies
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