Corporate Valuation Techniques

IFF - International Faculty of Finance
Training overview
Professional Course
Self-paced Online
3 days
From 2,999 GBP
Start dates
Online
2,999 GBP
Start anytime
IFF

Course description

Corporate Valuation Techniques - 3 day course in London or in house training for your financial team

This training course presents a comprehensive set of corporate valuation techniques, which will enable delegates to:

  • Decide which valuation techniques can be used to maximum advantage
  • Value companies for mergers, acquisitions, privatisation and new issues
  • Quantify and manage the risks associated with corporate valuation
  • Apply the latest valuation techniques to different situations, including EVA®
  • Generate shareholder wealth

The aim of this course is to alleviate potential problems by going beyond the fundamentals of corporate valuation, while equipping participants with the latest strategies to help them successfully tackle any valuation, however complex

COVID-19 Update

This provider offers an online version of their classroom courses

Who should attend?

This training course is suitable for finance professionals who are:

  • Making the decisions to divest, merge, demerge or acquire
  • Assessing the merits of a value-based planning programme to increase shareholder value
  • Managing risk

Training content

This course covers the following modules:

Essential Elements in Valuation

  • Price vs value
  • Perspective of techniques
  • Risk
  • Company dynamics
  • Return on capital vs cost of capital

Free Cash Flow - A Central Concept

  • Importance of FCF
  • Limitations of accounting-based data
  • Components and detailed calculation exercise

Cost of Capital and DCF Valuation

  • Cost calculations of the capital components
  • Areas of controversial debate in deriving cost of capital
    • share market premium
    • betas
  • Discounting exercise
  • Investment horizon
  • The continuing period

Case Study: DCF valuation

  • Debrief of case
  • Sensitising valuation analyses
  • Decision-making using the product of valuation techniques and pricing techniques
  • Application of DCF to LBOs and MBOs
  • Application of DCF in valuation of acquisitions
  • Problems with emerging markets - adaptations of approach
  • Application to non-quoted businesses

Pricing Techniques

    • Pricing techniques - comparatives
    • Selecting comparatives
    • Application to non-quoted businesses
    • P/E ratios
    • Cash multiples
    • Total enterprise value
    • Comparative ratios
    • Modelling and sensitising the components

Case Study: Comparative pricing

  • Debrief of case

Dividend Valuation Model

  • Dividend growth approach
  • Practical problems in its application
  • When dividend valuation should be chosen in lieu of dcf valuation
  • Comparison of results to dcf valuation exercise

Residual Valuation Matters

  • The effect of leverage on risk and return
  • Optimal capital structure
  • Adjusted present value
  • Project risk vs company risk
  • Flow-to-equity alchemy
  • Overview of project appraisal

Estimating Future Cashflows and Returns

  • Limitations of predictive models
  • The modelling of cost structures
  • Sensitising the cashflow forecast
  • Establishing a valuation range

Case Study: EVA

Economic Value Added

  • The range of performance evaluation techniques
  • Detailed calculations
  • Analysis of results of analysis
  • Market value added (mva)
  • Correlation of market price to eva performance
  • Strategic interpretation of eva analysis

About IFF

International Faculty of Finance - IFF Finance & IFE Energy - Specialist Training Courses

As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage.  Established in 1991 we...


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IFF - International Faculty of Finance


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