Valuation Techniques (with Valuation Modelling)

BPP Professional Education
Course summary
12 hours
1,290 GBP excl. VAT
London, Online courses
Next available date: Online delivery option may be available - Please contact provider. - Online courses

Course description

Valuation Techniques (with Valuation Modelling)

The focus of this two-day course is to teach the two main techniques used in the valuation of companies and their interrelationships: discounted cash flow (DCF) and comparable multiples.

It aims to provide you with an understanding of their practical uses, together with hands-on experience in applying them in practice. No prior knowledge of valuation techniques is assumed. You will require a familiarity with financial statements, which can be gained by attending Company Accounts – Introduction; you should also feel comfortable with the basics of compound interest, which we will review.

Throughout we make use of simple example exercises in Microsoft Excel. This is not a course in financial modelling using Excel (which is covered in: Introduction to Financial Modelling; Intermediate Financial Modelling; and Debt Modelling (with LBO), however, it makes use of simple Excel exercises to give you greater confidence in doing valuations in real life.

This course provides the necessary knowledge and techniques for our more advanced course Contemporary Equity Analysis—Advanced Valuation Techniques.

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This provider offers an online version of their classroom courses

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Suitability - Who should attend?

This course will be of benefit to anyone who needs to understand and apply valuation techniques, including equity analysts and fund managers, corporate finance professionals, accountants and business development/ M&A executives.

Outcome / Qualification etc.

Learning outcomes include obtaining a greater understanding of:

  • What is meant by the ‘value’ of a company?
    • Basic principles of value
    • Company valuation and deriving share price
    • Enterprise and equity values
  • Discounted cash flow (DCF)
    • Introduction to DCF mathematics
    • Deriving pro forma free cash flow to enterprise (FCF)
    • Treatment of taxation, interest and inflation
    • Terminal value calculations
    • Company values and share prices
    • Discount rates
      • The cost of equity or ke
        • The capital asset pricing model (CAPM)
      • The cost of debt or kd
      • Weighted average cost of capital (WACC)
        • Identifying an appropriate discount rate
        • Multiples
    • Sensitivity analysis using Excel Data Table function
  • Comparables analysis
    • Using multiples as valuation tools
    • Common adjustments made to multiples
    • Sources of multiples – CompAcs and CompCos
    • Price/earnings ratios, EV/ EBIT and EV/ EBITDA multiples
    • Use of other multiples such as sales multiples, price-to-book etc.
    • Rules of thumb used in different industries

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About provider

BPP Professional Education

BPP Professional Education -  Accountancy, Tax, Financial Services, Law & Insolvency Courses

BPP Professional Education is one of the specialist examination-based and professional development training arm of the BPP Group, Europe's biggest professional education and publishing provider with 2,000 staff members across 40 countries and over 30,000 students per year. BPP Professional Education...

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BPP Professional Education

3 London Wall Buildings
EC2M 5PD London

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