Syllabus Overview

  • Valuation using discounted cash low models
  • Valuation using multiples and comparable firms
  • Use of multiples in valuation
  • Valuation of distressed companies or start-ups
  • Estimate the effect on value of restructuring a firm

General Details

Duration: 4 Sessions Total hours: 12 hours

Session 1

  • The Discounted Cash Flow Model
  • Setting up the Model
  • The Big Picture of DCF Valuation
  • Valuation Examples
  • The Discount Rate Question

 

Session 2

  • Risk premiums and Betas
  • The Cost of Debt
  • Estimating Cash Flows
  • Estimating Growth Rates
  • Estimating Growth Patterns
  • The Terminal Value
  • Closing Thoughts on DCF

 

Session 3

  • Cash, Cross holdings and other assets
  • The Value of Control, Synergy and Transparency
  • The Liquidity Discount
  • Employee Stock Options
  • Challenges in Valuation
  • Valuing young, growth companies
  • Valuing mature companies in transition
  • Valuing declining and distressed companies
  • Valuing cyclical companies
  • Valuing commodity companies
  • Valuing financial service companies

 

Session 4

  • Valuing private businesses
  • Relative Valuation
  • Deconstructing multiples
  • Comparable company valuation

The objective of the training is to provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each. At the end of the seminar, participants should be able to:

 

  • Value any kind of firm in any market, using discounted cash flow models (small and large, private and public)
  • Value a firm using multiples and comparable firms
  • Analyze and critique the use of multiples in valuation
  • Value “problem” firms, such as distressed companies or start ups
  • Estimate the effect on value of restructuring a firm

The mix of valuation techniques and applications provided in this training has attracted a widely diverse audience in our past trainings. In particular, it is useful for:

 

  • Chief Executive Officers, Board Members and Business Owners

 

  • Chief Financial Officers and Other Corporate Financial Staff

 

  • Head of Business Development, Strategy and M&A

 

  • Chartered Accountants, Investment Bankers and Management Consultants

 

  • Equity Research Analysts

 

  • Portfolio Managers

 

  • Business Angels, Venture Capital, Private Equity, and Family Offices

Participants are required to have a basic understanding of financial and strategic concepts. Ideally participants have previous knowledge in courses in covering financial and business related topics on a university level.

 

There is no advance preparation required. However, participants are encouraged to review basic financial and business concepts before attending the training.

 

Programs are offered as QAS Self Study

Approx. 10 CPE Credits

  • Comprehensible
    Experience or take a refresher in valuation in-depth – made comprehensible by one of the world’s best and motivating instructors on valuation.

 

  • Network
    Network with your peers and industry professionals that face similar challenges when it comes to valuation. A great opportunity to meet old colleagues and make new contacts during this program. In addition we provide access to our global network of other participants from past trainings as well.

 

  • Continued Education
    Invest in your continued education! Various professional associations accept this training as Continued Education. Take this training as a stand-alone or have it count towards the completion of our IM&A Certificate and M&AP Certificate programs.

 

  • Prof Damodaran live
    Reading books or watching videos is nothing like experiencing and enjoying Prof. Damodaran in the room teaching and interacting with you in person.

 

  • Great value
    As we are a non-profit research organization, we offer this training at a very affordable fee – great value for money.

1.Access to live online program

 

2.Interaction with Q&A throughout the live sessions

 

3.Presentation slides (soft copy)

 

4.Three months free access to our e-library (incl. books by Prof. Damodaran)

 

5.Access to recorded sessions (in case you miss a live session)

 

6.Certificate of attendance signed by Prof. Damodaran (soft copy)

 

 

7.Digital seal for social media (e.g. LinkedIn)

 

8.Approx. 10 CPE Credits

 

1) Jurg Stucker, Partner at Oaklins Switzerland

 

2) Sebastian Schink, Director Pension Asset Management and M&A Valuation, at Infineon

 

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