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Leonard N. Stern School of Business

Advanced Valuation

Advanced Valuation
Jan 27—May 23, 2020
Online
USD 1936

How it works

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Description

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.

Program Takeaways

  • 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

Course Benefits

Whatever your career progression, partner with NYU Stern Executive Education to position yourself for lasting success.

  • Immediate Applicability. Courses are designed to equip participants with relevant theory, tools and frameworks in key business areas. Update your knowledge in new areas of business to stay competitive in today’s market.
  • Academic Excellence. Led by full-time NYU Stern faculty, our Executive Education courses offer program participants immediate access to current thought leadership across disciplines and functional areas.
  • Career Progression. Courses provide the tools and confidence to make the shift from individual contributor to leader. Learn to create your vision, develop successful strategies and communicate effectively.
  • Network of Executives. Take advantage of the opportunity to network with executives from around the world and across industries who are working to develop their skills with NYU Stern Executive Education.

Agenda

Introduction

  • 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 - 4

Week 1

  • Course Introduction
  • Valuation: The Big Picture
  • Introduction to Intrinsic Value

Week 2

  • The Risk Free Rate
  • The Equity Risk Premium
  • Live Q & A Session 1

Week 3

  • Relative Risk Measures
  • The Costs of Debt and Capital

Week 4

  • Estimating Cash Flows
  • Estimating Growth
  • Live Q & A Session 2
  • Quiz 1

Week 5 - 8

Week 5

  • Terminal Value
  • Value Enhancement

Week 6

  • From Asset Value to Equity Value
  • Acquisition Ornaments
  • Live Q & A Session 3

Week 7

  • Dilution & Illiquidity
  • Narrative to Numbers

Week 8

  • The Pricing Imperative
  • The Most-Used Multiple
  • Live Q & A Session 4
  • Quiz 2

Week 9 - 12

Week 9

  • Other Earnings Multiples
  • Book Value Multiples

Week 10

  • Revenue Multiples and Mopping Up
  • Live Q & A Session 5

Week 11

  • Private Company Valuation
  • The Essence of Real Options

Week 12

  • The Option to Delay
  • The Option to Expand & Abandon
  • Live Q & A Session 6
  • Quiz 3

Week 13 - 15

Week 13

  • Valuing/Pricing Start-Ups & Young Companies
  • Valuing/Pricing Declining & Distressed Companies

Week 14

  • Valuing/Pricing Financial Service Companies
  • Valuing/Pricing Cyclical & Commodity Companies
  • Live Q & A Session 7

Week 15

  • Valuation: Looking Back & Looking Forward
  • Live Q & A Session 8
  • Final Exam
  • Final Project

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 Experience – Participants with all levels of work experience are welcome to attendwith NYU Stern Executive Education.
  • 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

Experts

Biography Aswath Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern School of Business. Before coming to Stern, he also lectured in Finance at the University of California, Berkeley. Professor Damodaran received a B.A. in Acc...

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Next dates

Jan 27—May 23, 2020
Online
USD 1936

How it works

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