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Company Valuation

Eureka Financial
Course summary
7 hours
695 GBP excl. VAT
Full time/part time
Online courses
Next available date: 14/10/2021 14:00 - Online courses
Professional Training

Course description

Company Valuation

We offer this programme as a virtual course split into 2 sessions of 3.5 hours each on 14 & 15 Oct 2021 between 2 - 5.30 p.m. UK time. The course is conducted by a senior expert with over 20 years of experience.  

This practical, computer based course conducted by a senior City expert lays the foundation to build a solid understanding of company valuation. The most common business valuation methodologies are discussed in detail, including comparable company analysis and discounted cash flows (DCF). Through a mix of lectures and case studies, the participants will be able to:

  • Understand the different company valuation methodologies based on the maturity and the type of industries
  • Grasp the five-steps of a DCF including free cash flows, Weighted Average Cost of Capital (WACC) and terminal value
  • Analyse a trading multiples within an industry highlighting each company’s strengths and weaknesses

The training is targeted at investment banking, M&A boutiques, private equity and Corporate Finance professionals at junior to mid-level with limited valuation experience who are interested in obtaining a solid understanding of company valuation.

Suitability - Who should attend?

The training is targeted at investment banking, M&A boutiques, private equity and Corporate Finance professionals at junior to mid-level with limited valuation experience who are interested in obtaining a solid understanding of corporate valuation.

Outcome / Qualification etc.

By the end of the course you will be able to:

  • Understand the different company valuation methodologies based on the maturity and the type of industries
  • Grasp the five-steps of a DCF including free cash flows, Weighted Average Cost of Capital (WACC) and terminal value
  • Analyse a trading multiples within an industry highlighting each company’s strengths and weaknesses

Main topics

  • Overview of the major company valuation methods
  • Trading and transaction comparables analysis
  • DCF – Discounted cash flow analysis
  • LBO analysis
  • Calculating the company’s value
  • Calculating the earnings numbers
  • Calculating WACC – Weighted average cost of capital
  • Calculating the terminal value
  • Building a discounting model
  • Calculating enterprise and equity values
  • Real life case studies

Training Course Content

Valuation fundamentals

  • The importance of valuation
  • Overview of the major valuation methods
    • Trading comparable analysis
    • Discounted cash flow analysis
    • Transaction comparable analysis
    • LBO analysis
  • Enterprise versus equity value
  • Book values versus market values
  • Derivation of enterprise values using market values


Trading comparable

  • Screening companies to identify a suitable comparable set
  • Calculating the company’s value
    • Number of shares and value of share options
    • Equity value
    • Net debt calculations
    • Enterprise value
  • Calculating the earnings numbers
    • Cleaning non-recurring items from earnings and resulting tax adjustment
    • Calendarisation issues
    • Last-Twelve Months (LTM) analysis
  • Calculating a range of forward looking and historical earnings multiples
    • Revenue ; EBITDA ; EBIT ; P/E ; P/E/G
    • Industry-specific multiples
  • Calculating and using operating and credit ratios
  • Troubleshooting and checking the output
  • Applying the results


Transaction comparable

  • Difference between trading multiples and multiples from precedent transactions
  • Selection of transactions and information gathering
  • Control premium and synergies
  • Practical issues with transaction comparable
  • Analysis and summary output


DCF valuation

  • Calculating unlevered free cash flows
    • Drivers of cash flow
    • Ratio analysis
  • Weighted average cost of capital
    • Optimal capital structure using peer analysis
    • Establishing the company €™s forward looking cost of debt
    • Cost of equity: understanding the risk free rate, the equity risk premium and beta
    • Unlevering and relevering the beta
    • Calculating WACC for the case company
  • Calculating the terminal value
    • Perpetuity growth (Gordon Growth model) method
    • Exit multiple method
  • Building a discounting model
    • Mid-year adjustments
  • Calculating enterprise and equity values
  • Sanity checks
    • Reinvestment rate and ROIC
    • Implied multiples and growth rates
    • Percentage of value in the terminal period

Expenses

Course price: early bird: £695 + VAT, regular price £850 + VAT. 10% discount for 3 people. 

About provider

Eureka Financial - Expert in Banking and Finance, Regulatory, Risk and Wealth Management Training.

Eureka Financial is a provider of banking, finance, regulatory, risk and wealth management training courses. We also offer some business management and soft skills training programmes. Based in London, UK, we organise public courses in London as well as tailored in-house...


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Eureka Financial

22 A St Jame's Square
SW1Y 4JH London

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www.eurekafinancial.com


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