Advanced Valuation

Leonard N. Stern School of Business

Leonard N. Stern School of Business

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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 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

About the course

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.

ONLINE LEARNING EXPERIENCE

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.

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
  • Relative Risk Measures
  • The Costs of Debt and Capital

Week 3

  • Estimating Cash Flows
  • Estimating Growth

Week 4

  • Terminal Value
  • Value Enhancement
  • Live Online Meetup 2
  • Quiz 1

Week 5 - 8

Week 5

  • Loose Ends 1: From Asset Value to Equity Value
  • Loose Ends 2: Acquisition Ornaments

Week 6

  • Loose Ends 3: Dilution & Illiquidity
  • Narrative to Numbers: Connecting Stories to Value

Week 7

  • The Pricing Imperative: Relative Valuation
  • The Most-Used Multiple: PE Ratio
  • Live Online Meetup 3

Week 8

  • Other Earnings Multiples
  • Book Value Multiples
  • Quiz 2

Week 9 - 12

Week 9

  • Revenue Multiples and Mopping Up
  • Asset Based Valuation

Week 10

  • Private Company Valuation
  • The Essence of Real Options

Week 11

  • The Option to Delay
  • The Option to Expand & Abandon
  • Live Online Meetup 4

Week 12

  • Valuing/Pricing Start-Ups & Young Companies
  • Valuing/Pricing Declining & Distressed Companies
  • Quiz 3

Week 13 - 15

Week 13

  • Valuing/Pricing Financial Service Companies
  • Valuing/Pricing Cyclical & Commodity Companies
  • Live Online Meetup 5

Week 14

  • Valuation: Looking Back & Looking Forward

Week 15

  • Live Online Meetup 6
  • Final Exam

Experts

Aswath Damodaran

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 Accounting fro...

Videos and materials

Advanced Valuation at Leonard N. Stern School of Business

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

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