the course is up to date with the financial world which makes the content quite engaging.
This Multiples Valuation course is an in-depth guide for valuing a company using relative valuation.
Multiples valuation is an intuitive, easy-to-understand framework that helps investment bankers, investment analysts, and finance professionals value companies. Sometimes multiples are used to obtain a quick proxy of a firm’s value based on its earnings. In other situations performing multiples valuation requires complex intellectual work that considers several subtleties, including suitable peers and adjustments for non-operating and non-recurring items. In this Multiples Valuation course, theory and practice go hand in hand. We introduce the concept of relative valuation and its basic assumptions. Then you’ll learn about the different valuation multiples, including the difference between trading and transactional multiples. Moreover, the theoretical lessons cover some fundamental principles an analyst needs to remember to ensure their work respects valuation best practices. In the second part of the course, we analyze a practical example of multiples valuation. You'll see that multiples require more time and can be hard to compute if done correctly and with great precision. In this case, there is a clear trade-off between valuation precision and time invested in research. Multiples valuation is often used in conjunction with Discounted Cash Flow. It’s considered a best practice when the valuation results from both techniques are triangulated to determine a reasonable price range. Our Multiples Valuation course is perfect for aspiring investment bankers, investment analysts, and professionals who are already on the job and want to upskill. Start learning today to acquire these invaluable career-enhancing skills. See you on the inside!
Measuring company value precisely requires significant effort and intellectual work. The multiples approach is no exception compared to other valuation techniques. This Multiples Valuation course teaches how to perform this type of valuation.
Multiples is an indispensable valuation framework because it allows analysts to understand current market sentiment. Learn how to distinguish between multiples based on net income (Price/Earnings) and multiples that are not dependent on a firm’s capital structure (EV/EBITDA).How to Use Valuation Multiples Free Types of Valuation Multiples Free Transaction Multiples Free Key Principles of Relative Valuation Earnings Multiples Comparison (PE vs EV/EBITDA)
This segment presents a hands-on exercise where we value Volkswagen using valuation multiples. Together, we work out the optimal list of peers, the types of multiples to be used, and how to adjust every company’s financials to obtain a proper valuation.Practical Example: Introduction Peer Group Selection P&L Comparison How to Adjust EBIT How to Adjust Enterprise Value How to Adjust EBIT: Practical Example How to Adjust Enterprise Value: Practical Example Conclusion
with Ned Krastev