Trading Comparables Valuation
Learn in detail how to perform an accurate and meaningful trading comparables valuation of a target business relative to its publicly traded or ‘listed’ peers. This technique can be used on a wide variety of business and is used by equity research and institutional investors as well as parties valuing entire businesses such as corporate or ‘strategic’ buyers/ sellers, Private Equity (PE) funds and financial sponsors and advisory firms.
View video to get a brief overview of the course
What do you get on this course?
Objectives
- Identify an appropriate group of publicly traded, or ‘listed’ peers
- Compute their fully diluted equity values and Enterprise Values (EV)
- Measure each peer’s earnings over a variety of time frames including Last Twelve Months (LTM) and calendarized forecast year
- Make ‘pro-forma’ adjustments to earnings numbers to remove distortions from acquisitions or disposals made by the comparable firms
- Interpret your multiples and formulate a valuation of the businesses in question
key Topics
Complete topics step by step or jump to any of the below at any time.
- Selecting comps
- Calculating value
- Diluted equity value
- Net debt
- Calculating the value drivers – scrubbing the numbers
- Historical adjustments
- Interpreting the output
2.5 hours of video content.
Estimated 4.5 hours to complete.
How to access your course
- Checkout and pay for the course(s).
- Your course(s) will be added to your DELTA account.
- You will then receive an email with joining instructions.
- You will have 12 months access from date of purchase.
Pre-requisites
This course is open to all. To maximize the benefit of this course we recommend an understanding of financial accounting statements and Microsoft Excel.
Technical Requirements
You will need an Internet connected device to access the videos and download supporting resources. Supporting resources can be used offline, which require Microsoft Excel 2003 or later and a PDF reader.
Comprehensive Resources
You’ll be able to easily access all of the materials you need through our learning management system DELTA
- Bite-size trainer led HD videos detailing step by step techniques and best practices.
- Download the slides and files as used in the videos, which can be completed while watching or saved for later.
- Open forum for quick problem solving.
