All Valuation Modules
- Valuation Overview
- The World of Returns
- Valuation Complexities
- Bank Analysis and Valuation
- Insurance Analysis and Valuation
- Non-Traditional Valuation Metrics
- Cross Border WACC
- Advanced Valuation Issues
- Introduction to Leveraged Valuation
- Advanced Discounted Cash Flow (DCF) Valuation
- Discounted Cash Flow (DCF) Valuation
- Transaction (M&A) Comparables
- Comparable Companies Valuation Methods
- Trading Comparables (Multiples) Valuation
Financial Training Courses
Discounted Cash Flow (DCF) Valuation
- Categorized in: Valuation
Taking an integrated financial model of the target company, participants calculate the unleveraged free cash flows. A detailed ratio analysis establishes the reasonableness of the forecasts and identify when the target company reaches steady state. Participants calculate the terminal value using the Gordon growth model and multiple methods. The cash flows are discounted using WACC calculation and a mid-year adjustment is made.
Once the valuation is complete, participants perform several checks on the analysis using key ratios and sensitivity and scenario analysis.
- Building a discounting model
- Making mid-year adjustments
- Arriving at equity value
Calculating unlevered free cash flows
- Drivers of cash flow
- Ratio analysis
Calculating the terminal value
- Perpetuity
- Multiples
Sanity check
- Reinvestment rate and ROIC
- Implied multiples and growth rates
- Percentage of value in the terminal value
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