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 online meetups, 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.
In-House Quality
NYU’s Learning Experience Design group is a team of educational designers, multimedia specialists, and technologists within NYU's Teaching and Learning with Technology (TLT) organization. TLT collaborates with schools, departments, and instructors to create meaningful, technology-enhanced learning experiences, with an emphasis on connecting the professor with his or her remote learners and fostering a global community of professionals within each course.
Online Learning Terminology
Asynchronous activities are things you do independently, like watch videos and complete assignments, and interactions with others over time via email, discussion forums, collaborative documents, and other channels. The term "synchronous" refers to learning with others in real time using videoconferencing and other technologies. Our online certificate courses are asynchronous with optional synchronous elements.
The term "asynchronous" refers to courses or course elements that can be completed at any time within the parameters of the course schedule.
This course is a non-credit, pass/fail program. To pass this course, you will need a cumulative score of at least 55%. Upon successful completion of this course, participants will receive the NYU Stern Certificate in Advanced Valuation.
Program Takeaways
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Business Value Estimation
Gain the skills needed to estimate the value of any business, small or large, private or public, in a developed or an emerging market. -
Pricing Methodologies
Learn to use earnings, book value, revenue, or other pricing multiples and comparables to price any business. -
Data-Driven Storytelling
Grow 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.
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Years of Experience
Participants with all levels of work experience are welcome to attend -
Job Functions
Ideal for analysts, financial officers, and portfolio managers -
Prerequisites
Intended 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
Agenda
The following agenda is a sample and subject to change.
Course Access
- In order to access the course, you will receive login credentials via email on the start date of the course. Activation instructions for your login credentials will be provided.
Live Online Meetups with Faculty
- Our live online meetups provide you with the opportunity to engage face-to-face with Professor Damodaran. Please note that all online meetups are recorded and available for your viewing at a later time. Missing a meetup will not impact your grade, however, we recommend attending all sessions.
Workload
- Please expect to invest about 10 to 15 hours of your time per week to course lessons, exercises, and assignments.
Week 1: August 30th
- Course Introduction
- Valuation: The Big Picture
- Introduction to Intrinsic Value
Week 2: September 7th (September 6th = Labor Day)
- The Risk Free Rate
- The Equity Risk Premium
- Relative Risk Measures
- The Costs of Debt and Capital
- Live Online Meetup 1: TBD 12:00 - 1:00 PM ET
Week 3: September 13th
- Estimating Cash Flows
- Estimating Growth
Week 4: September 20th
- Terminal Value
- Value Enhancement
- Live Online Meetup 2: TBD 12:00 - 1:00 PM ET
- Quiz 1: TBD
Week 5: September 27th
- Loose Ends 1: From Asset Value to Equity Value
- Loose Ends 2: Acquisition Ornaments
Week 6: October 4th
- Loose Ends 3: Dilution & Illiquidity
- Narrative to Numbers: Connecting Stories to Value
Week 7: October 11th
- The Pricing Imperative: Relative Valuation
- The Most-Used Multiple: PE Ratio
- Live Online Meetup 3: TBD 12:00 - 1:00 PM ET
Week 8: October 18th
- Other Earnings Multiples
- Book Value Multiples
- Quiz 2: TBD
Week 9: October 25th
- Revenue Multiples and Mopping Up
- Asset Based Valuation
Week 10: November 1st
- Private Company Valuation
- The Essence of Real Options
Week 11: November 8th
- The Option to Delay
- The Option to Expand & Abandon
- Live Online Meetup 4: TBD 12:00 - 1:00 PM ET
Week 12: November 15th
- Valuing/Pricing Start-Ups & Young Companies
- Valuing/Pricing Declining & Distressed Companies
- Quiz 3: TBD
Week 13: November 22nd
- Valuing/Pricing Financial Service Companies
- Valuing/Pricing Cyclical & Commodity Companies
- Live Online Meetup 5: TBD 12:00 - 1:00 PM ET
Week 14: November 29th
- Valuation: Looking Back & Looking Forward
Week 15: December 6th
- Live Online Meetup 6: TBD 12:00 - 1:00 PM ET
- Final Exam: TBD
Week 16: December 13th
- Final Project Due: TBD
Participant Reviews
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