Valuation Based On Earnings
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Valuation Based On Earnings
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Author : Robert A. G. Monks
language : en
Publisher: John Wiley & Sons
Release Date : 2011-04-27
Valuation Based On Earnings written by Robert A. G. Monks and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-27 with Business & Economics categories.
Corporate Valuation for Portfolio Investment "The valuation of securities . . . is as big a subject as they come, running in multi?-dimensions from qualitative to psychological, from static todynamic, from one dominant measure to a complex soup, and using measures that range from those that are internal to the observer to those determined bythe markets. In Corporate Valuation for Portfolio Investment, Bob andhis worthy coauthor cover the full range of valuation methods." From the Foreword by Dean LeBaron Corporate valuation for portfolio investment means determining the present value of future worth. While this may sound like a straightforward task, in reality, it takes time and hard-earned experience to effectively perform this essential financial function. Robert Monks and Alexandra Lajoux understand the difficulty of this endeavor. That's why they have created Corporate Valuation for Portfolio Investment. Filled with in-depth insights and expert advice, this reliable guide addresses the many facets of valuation and reveals what it takes to determine the value of corporate equity securities for the purpose of portfolio investment. Written with the professional investor in mind, Corporate Valuation for Portfolio Investment takes you through a wide range of approaches including those primarily based in assets, earnings, cash flow, and securities prices and discusses hybrid valuation techniques that combine aspects of these four main sources of valuation information. Along the way, it also examines the importance of qualitative measures such as governance and details a variety of special situations in the life cycle of businesses, including stock splits, spin-offs, and pension funding. If you're seeking superior returns from investments in corporate equity, then you have to have a firm understanding of valuation. With Corporate Valuation for Portfolio Investment as your guide, you'll be in a better position to improve your sense of a company's worth and the possible price ranges for buy, sell, and hold decisions.
Business Valuation
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Author : Greg Shields
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2018-04-29
Business Valuation written by Greg Shields and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-29 with categories.
Say goodbye to scratching your head in confusion This business valuation book could be the answer you're looking for... Whether you're looking to buy or sell a business, to invest in the stock market or become a business angel, or simply to get a better idea of what your business is worth, this book contains the information you need. Each type of valuation method is introduced in turn: assets based, revenue based, earnings and cash flow based, together with discounted cash flow and 'rule of thumb' valuations. This book will show you how to calculate the value of the business. You'll also learn the strengths and weaknesses of each method of valuation; where they're useful and where they are of limited value. Does that sound as if the book is a dry, mathematical text? Far from it. Business Valuation: The Ultimate Guide to Business Valuation for Beginners, Including How to Value a Business Through Financial Valuation Methods contains real examples and talks about the 'art' as well as the 'science' of valuation. You'll also get a chapter that is focused on due diligence ('kicking the tyres'). Once you've read this book you should have a good handle on how to value a business. Maybe you won't be a highly paid McKinsey consultant, but you'll have what it takes to know what a business is worth, and you'll have enough smarts to avoid the obvious traps and pitfalls, such as 'dressing up' profits. That can make the difference between selling your business at a price that funds your retirement, and coming up short - or the difference between buying a great business at a good price, or paying over the odds for a moribund company. Here are just some of the topics that are discussed in this book: Why you might need a business valuation The basic concepts behind business valuation Profit based approaches Revenues based approaches Asset based approaches Discounted cash flow Sector-specific approaches And Much, Much More So, what are you waiting for? Start your learning now by getting this magnificent book!
The Little Book Of Valuation
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Author : Aswath Damodaran
language : en
Publisher: John Wiley & Sons
Release Date : 2024-03-19
The Little Book Of Valuation written by Aswath Damodaran and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-19 with Business & Economics categories.
Guide to making accurate business valuations based on investing metrics that matter In The Little Book of Valuation: How to Value a Company, Pick a Stock, and Profit, professor and economist Aswath Damodaran guides readers through the fundamentals and step-by-step process of picking winning companies to invest in. In the book, you'll learn how to make your own accurate valuation assessments, avoiding common pitfalls and mistakes along the way. From widespread misunderstandings to undeniable truths in valuation, the author covers exactly where to turn your attention to when assessing a company's value based on a myriad of factors, with stories and real examples included throughout to prepare you for any modern investing challenge you may find yourself facing. You'll also learn: Simple but extremely effective valuation tools and formulas for success The complex relationship between assets, debt, equity, and business value Special market considerations regarding valuation that require a dynamic approach Rather than relying on third-party sources—often drawing from the same public information that you have access to, but getting it wrong—The Little Book of Valuation, Updated Edition gives readers all the insight and practical tools they need to cut through the noise and arrive at their own accurate valuations, pick profitable stocks, and establish successful long-term portfolios.
Earnings
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Author : D. Eric Hirst
language : en
Publisher: Wiley
Release Date : 2000-11-28
Earnings written by D. Eric Hirst and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-11-28 with Business & Economics categories.
Hirst and Hopkins guide analysts to a comprehension of how income statements and other disclosures can be used to assess the underlying quality and persistence of companies' economic conditions.
Valuation Techniques
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Author : David T. Larrabee
language : en
Publisher: John Wiley & Sons
Release Date : 2012-10-09
Valuation Techniques written by David T. Larrabee and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-09 with Business & Economics categories.
Analysis and insights from top thought leaders on a pivotal topic in investing and asset management Valuation is the cornerstone for investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the “father of value investing,” to Aswath Damodaran, you’ll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. Features the best thinking on valuation from the industry’s masters on the topic, supplemented with dozens of fascinating and instructive real-world examples Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets Is being produced with the full support and input of CFA Institute, the world’s leading association of investment professionals
Corporate Valuation For Portfolio Investment
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Author : Robert A. G. Monks
language : en
Publisher: John Wiley & Sons
Release Date : 2010-10-01
Corporate Valuation For Portfolio Investment written by Robert A. G. Monks and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-01 with Business & Economics categories.
A detailed guide to the discipline of corporate valuation Designed for the professional investor who is building an investment portfolio that includes equity, Corporate Valuation for Portfolio Investment takes you through a range of approaches, including those primarily based on assets, earnings, cash flow, and securities prices, as well as hybrid techniques. Along the way, it discusses the importance of qualitative measures such as governance, which go well beyond generally accepted accounting principles and international financial reporting standards, and addresses a variety of special situations in the life cycle of businesses, including initial public offerings and bankruptcies. Engaging and informative, Corporate Valuation for Portfolio Investment also contains formulas, checklists, and models that the authors, or other experts, have found useful in making equity investments. Presents more than a dozen hybrid approaches to valuation, explaining their relevance to different types of investors Charts stock market trends, both verbally and visually, enabling investors to think like traders when needed Offers valuation guidance based on less quantitative factors, namely management quality and factors relating to the company and the economy Corporate Valuation for Portfolio Investment puts this dynamic discipline in perspective and presents proven ways to determine the value of corporate equity securities for the purpose of portfolio investment.
The Income Approach To Property Valuation
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Author : Andrew Baum
language : en
Publisher: Routledge
Release Date : 2017-12-22
The Income Approach To Property Valuation written by Andrew Baum and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-22 with Business & Economics categories.
A classic textbook that has guided generations of students through the intricacies of property valuation, The Income Approach to Property Valuation remains a keen favourite amongst students and teachers alike. This new edition has been thoroughly revised and updated to meet the increasingly international perspectives of modern Real Estate students. The links between theory and practice are clearly demonstrated throughout, with a range of new international case studies and practice-based examples. The Income Approach to Property Valuation teaches readers: how to analyse market rents and sales prices to derive market evidence to support an opinion of market value; the investment method of valuation and how it is applied in practice; how specific legal factors can impact on market value when they interfere with market forces; what the market and the profession may consider to be the 'right' methodology in today's market place; and how to use spreadsheets in valuation. This extensively revised new edition is perfect both for students on Real Estate courses worldwide and for professional candidates working towards their final assessment of professional competence (APC) for the Royal Institution of Chartered Surveyors, needing to demonstrate a valuation competence at levels 2 and 3.
The Banking Industry Guide Key Insights For Investment Professionals
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Author : Ryan C. Fuhrmann
language : en
Publisher: CFA Institute
Release Date : 2017
The Banking Industry Guide Key Insights For Investment Professionals written by Ryan C. Fuhrmann and has been published by CFA Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
Valuation Of High Growth Companies
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Author : Thomas Prielinger
language : en
Publisher: GRIN Verlag
Release Date : 2008-05-29
Valuation Of High Growth Companies written by Thomas Prielinger and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-05-29 with Business & Economics categories.
Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1, University of Vienna (Institut für Finanzwirtschaft), 26 entries in the bibliography, language: English, abstract: In my thesis I examined the applicability of traditional valuation methods to value high growth companies. Consequently I presented and discussed possible modifications to the traditional methods, whereas I demonstratively applied some of the presented concepts in the case study. Considering relative valuation, traditional multiples based on historical financial data are not very useful for valuing such companies, as historical earnings are either negative or have low informational value. In my opinion, the presented concept of forward-looking (earnings) multiples is clearly superior to the traditional approaches using historical financials and also to the proposed modifications, which mostly have to be applied using historical data. The concept of knowledge-related multiples is interesting, although it uses historical financials; it may be useful and deliver accurate results in certain cases, but not especially when valuing high growth companies. Multiples based on non-financial data may only work well if a truly comparable company could be found. However, a multiples analysis should generally not be used for standalone company valuations, but rather to complement a DCF valuation, which is regarded as the more accurate method. In the second part I examined the DCF valuation and found that the general framework works even for high growth firms; only the estimation of separate inputs requires more effort and modified estimation approaches compared to stable growth companies. The scenario-based DCF approach is considered as the appropriate method to account for high uncertainty in company valuation, as it allows examining the effect of changes in fundamental value drivers, without having to use quite intransparent mathematical models. I also presented some in depth estimation issues for three main steps of a DCF valuation, which proved beneficial for doing the case study. The case study should demonstrate the specific problems relating to the valuation of high growth companies. By trying to value “bwin”, an Austrian online gaming firm, the case study reveals the deficiencies of traditional multiples and shows how the scenario-based DCF approach can be applied. Although scenario outcomes deliver an even broader value range than the multiples analysis, they allow accounting for the specific circumstances and reveal the possible effect of changes in the key value drivers for the company. The scenario-based DCF approach thus delivers the most valuable results in my opinion.
Equity Valuation And Negative Earnings
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Author : Ana Paula Matias Gama
language : en
Publisher: Springer
Release Date : 2016-12-20
Equity Valuation And Negative Earnings written by Ana Paula Matias Gama and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-20 with Business & Economics categories.
Building upon Feltham and Ohlson models, this book examines positive loss-earnings within the context of the dot.com bubble during the boom years of the late 1990s bull market. The strong demand for equity financing captured the imagination of investors from Europe and U.S. like never before. With a focus on U.S. Internet companies, the book explores both the birth and the death of the new economy, and how negative earnings and losses still garnered large investments and successful IPOs (Initial Public Offerings). As Internet based ventures and the digital economy keep attracting large amounts of equity financing, this book explains that there is something unique in the valuation and pricing of tech companies. The book was written for corporate financiers, capital market professionals, and academics to further their understanding of equity valuation and the effects of equity trading.