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Leonard N. Stern School of Business

Advanced Valuation

Sep 9, 2019—Jan 3, 2020
Online
USD 2200

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

Agenda

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

  • 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

  • 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

  • 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.

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...

Next dates

Sep 9, 2019—Jan 3, 2020
Online
USD 2200

How it works

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