*Early bird pricing above available through June 30th, 2019.
Whether it’s managing a portfolio, preparing for an imminent merger or acquisition, or marveling over the newest dollar figure attached to a tech wunderkind, valuation is the key to parsing and understanding the numbers. Taught by Professor Aswath Damodaran, one of the leaders in the field, Advanced Valuation is for analysts, financial officers, and portfolio managers seeking a deeper understanding of valuation, and the skills and knowledge to confidently make financial decisions.
Through video lectures, live Q&A sessions, and a hands-on valuation project, students will learn how to estimate the value of any business, small or large, private or public, in a developed or an emerging market. They will also be able to price businesses using earnings, book value, revenue, or other pricing multiples and comparables.
This course includes a free bonus course for students looking to enhance their accounting skills: Essentials of Financial Accounting taught by NYU Stern Professor Amal Shehata.
Upon completion of this course, participants will receive a Certificate of Achievement.
Business Value EstimationGain the skills needed to estimate the value of any business, small or large, private or public, in a developed or an emerging market
Pricing MethodologiesLearn to use earnings, book value, revenue, or other pricing multiples and comparables to price any business
Data-Driven StorytellingGrow your confidence with numbers and develop the storytelling skills you need to complement your numerical skills
Who Should Attend
Although there are no formal education or background requirements, this course is designed for participants who meet the criteria below. While we strongly encourage global participation, please note that all courses are taught in English. Proficiency in written and spoken English is required.
Years of ExperienceParticipants with all levels of work experience are welcome to attend
Job FunctionsIdeal for analysts, financial officers, and portfolio managers
PrerequisitesIntended for individuals with knowledge of financial statement analysis, basic statistics, time value of money, and Microsoft Excel; additionally, students must have a desktop or laptop computer with an internet connection
The following agenda is a sample and subject to change.
- Course Introduction
- Valuation: The Big Picture
- Introduction to Intrinsic Value
- The Risk Free Rate
- The Equity Risk Premium
- Live Q & A Session 1
- Relative Risk Measures
- The Costs of Debt and Capital
- Estimating Cash Flows
- Estimating Growth
- Live Q & A Session 2
- Quiz 1
- Terminal Value
- Value Enhancement
- From Asset Value to Equity Value
- Acquisition Ornaments
- Live Q & A Session 3
- Dilution & Illiquidity
- Narrative to Numbers
- The Pricing Imperative
- The Most-Used Multiple
- Live Q & A Session 4
- Quiz 2
- Other Earnings Multiples
- Book Value Multiples
- Revenue Multiples and Mopping Up
- Live Q & A Session 5
- Private Company Valuation
- The Essence of Real Options
- The Option to Delay
- The Option to Expand & Abandon
- Live Q & A Session 6
- Quiz 3
- Valuing/Pricing Start-Ups & Young Companies
- Valuing/Pricing Declining & Distressed Companies
- Valuing/Pricing Financial Service Companies
- Valuing/Pricing Cyclical & Commodity Companies
- Live Q & A Session 7
- Valuation: Looking Back & Looking Forward
- Live Q & A Session 8
- Final Exam
- Final Project
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