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Integrate fundamental and relative valuation analysis (more)
Overview of Courses
We dive deeper into the nuances of valuation by understanding the art (not science) of valuation. Build upon your core financial models by integrating and layering on hands-on valuation analysis. Construct standard full-blown DCF analysis, trading & deal comps analysis and summary football field. Dive real deep into the nuances of valuation by ripping apart footnotes and making subjective inputs while balancing objectivity.
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Course Goals & Overview:
Learn how corporations are valued and the major analytical tools that are used. Go beyond academic theory to real-world methods as used by professionals; includes a crucial primer to Corporate Finance and its non-theoretical application. Apply learning objectives and goals immediately by analyzing a $6 billion+ transaction. Topics covered include: (i) how to value a company (trading comps, deal comps, DCF, LBO, break-up and asset valuation); (ii) importance of Enterprise Value, EBITDA, capital structure, leverage and WACC; (iii) analyze valuation multiples and ratios; why are PE ratios sub-optimal as a valuation metric?; (iv) practical, non-theoretical application of introduction to corporate finance
Course Sections:
Valuation Methodologies
How much is a company worth? Why is the current stock price not an accurate indication of value?
How do you tell if a company is under-valued or over-valued?
Why would one company command a higher or lower premium than its direct competitor?
What is the importance between enterprise value and equity value?
Why do we include minority interest and exclude capital leases?
What is the relevance of capital structure and leverage on a company’s value?
Why and how is corporate finance so critical to managing a firm’s profitability?
What exactly does a multiple tell us? Learn the correct way to use P/E ratios and other multiples
Why are P/E ratios misunderstood and what other profitability-related ratios are more important?
What is EBITDA and why is it so important?
Utilizing the correct numerator for multiples analysis
Calculating implied value based on multiples analysis
What is a leveraged buyout and what are the main motives for LBOs?
Case Study Discussion
Analysis of “football field” and reference ranges
Detailed discussion of the major valuation methodologies, their nuances and application in the real-world
Analyzing, comparing and contrasting trading comps, deal comps and premiums paid
Detailed explanation of Discounted Cash Flow (DCF) valuation, its theory and application
Discussion of why the DCF is arguable one of the most important analyses while simultaneously one of the most academic and least practical of them all
Review of WACC (weighted average cost of capital), CAPM (Capital Asset Pricing Model)
How do you approach valuing a company with completely disparate businesses?
Prerequisites:
Accounting & Financial Statements Integration
How to Analyze a 10K
Finance 101 – Introduction to Finance
Video Length / Estimated Total Course Time:
2 hours / 2.5 hours
Individual Course Price:
$150
Click here to register now!
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Course Goals & Overview:
Build a basic, quick and dirty, back-of-the-envelope trading comps analysis (analysis of selected publicly traded companies). This course will allow you to quickly construct a relative valuation analysis and serves as a critical basis for our Complex Trading Comps Analysis course.
Course Sections:
Input historical results and analyst projections for comparable companies (public traded competitors)
Calculate current standalone market valuation multiples
Prerequisites:
Accounting & Financial Statements Integration
Corporate Valuation Methodologies
Company Overview
Basic Financial Modeling
Video Length / Estimated Total Course Time:
1 hour / 1.5 hours
Individual Course Price:
$100
Click here to register now!
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Course Goals & Overview:
Relative Valuation Basics is an extracted section from Advanced Financial & Valuation Modeling - Enhancements course module. In particular, we construct the reference range and football to complete the valuation picture. We recommend taking the following courses in order to gain the holistic relative valuation view:
Quick & Dirty Trading Comps Analysis
Relative Valuation Basics
Course Sections:
Reference Range & Football Field
Build reference range that quantifies fundamental and valuation methodologies
Summarize valuation modeling techniques including: quick & dirty trading comps, reference range analysis
Crystallize and appreciate the capital structure and the relationship between total enterprise value, equity value and price per share
Utilize best practices to reduce average construction time from 2 hours to 30 seconds
Update dynamic football field to graphically summarize valuation metrics
Step-by-step 25 page graphic instruction on how to create football field from scratch
Prerequisites:
Accounting & Financial Statements Integration
Finance 101 - Introduction to Finance
Corporate Valuation Methodologies
Company Overview
Basic Financial Modeling
Quick & Dirty Trading Comps Analysis
Advanced Financial Modeling - Core Model
Extreme efficiency in Excel
Video Length / Estimated Total Course Time:
0.5 hours / 1 hours
Individual Course Price:
$150
Click here to register now!
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Course Goals & Overview:
Build a detailed, thorough trading comps analysis (analysis of selected publicly traded companies) and learn how to properly construct a relative valuation analysis the correct way as well as how to normalize financials for extraordinary items, non-recurring and restructuring charges. This course itself isn’t terribly complex or difficult, but is very tedious, time consuming and at times frustrating as it requires a great deal of patience, attention to detail and reading comprehension. Hence, the first four letters of the title “analyst” ring true – perfection is required to get the right numbers.
Course Sections:
Trading Comps Overview and Instruction
Learn the steps required to construct a trading comps analyses and how to filter straight through to the relevant information
Best practices on inputting and checking data, “Do’s and Don’ts” tips, specific Income Statement and Balance Sheet reminders
Calculate LTM (last twelve months) and handling projections for comparability
Weighted average cost of capital analysis
Complex Comps Adjustments
Our comps module covers just about 98% of ALL adjustments one would possibly encounter!! Learn:
When and when not to adjust for asset impairments and write-downs
How to adjust for zero-coupon convertible securities that are simultaneously in-the-money and out-of-the-money
The effects of a LIFO / FIFO change in accounting recognition
How to adjust for changes in accounting principle and discontinued operations
The difference between below-the-line and above-the-line adjustments and evaluate when an item affects both, one or the other or neither
How to properly account for difference fiscal year ends
Proper treatment of capital leases
When to use reported GAAP Income Statement figures and when to use Pro Forma figures
Prerequisites:
Accounting & Financial Statements Integration
Finance 101 – Introduction to Finance
Company Profiles
Corporate Valuation Methodologies
Company Overview
Basic Financial Modeling
Quick & Dirty Trading Comps Analysis
Efficiency in Excel
Video Length / Estimated Total Course Time:
4.5 hours / 6.5 hours
Individual Course Price:
$300
Click here to register now!
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Course Goals & Overview:
Build a deal comps analysis (analysis of selected acquisitions), similar to trading comps analysis, but from an acquisition context using historical transaction data instead of current market valuation data. This course will allow you to properly construct a deal comps analysis the correct way, uncovering some of the nuances related to calculating transaction value and purchase price. This course is not a complex course and in fact, is a relative breeze compared with our Complex Trading Comps course, but builds upon the concepts in the latter course.
Deal Comps Instruction
Learn the steps required to construct a deal comps analyses and how to filter straight through to the relevant information
Plow through the myriad of deal information such as 8K filings, 10K filings, press releases and industry databases
Calculate transaction value (purchase price), premiums and multiples in past deals
Uncover subtle nuances of determining correct enterprise value and avoid valuation mistakes
Prerequisites:
Accounting & Financial Statements Integration
Company Profiles
Corporate Valuation Methodologies
Company Overview
Basic Financial Modeling
Quick & Dirty Trading Comps Analysis
Complex Trading Comps Analysis
Efficiency in Excel
Video Length / Estimated Total Course Time:
1.5 hours / 2 hours
Individual Course Price:
$200
Click here to register now!
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 Package 5: Merger Modeling Topics
Jump to:
Core Modules
Accounting Bootcamp
Package 1: Basic & Fundamental Concepts
Package 2: Core Fundamental Concepts
Package 3: Advanced Financial Modeling
Package 4: Valuation Modeling Topics
Package 5: Merger Modeling Topics
Package 6: Leveraged Buyouts (LBOs)
Technical Applications - Excel
Overview of Financial Mkts & Exhibits
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Advanced & Industry Modules
Private Company Valuation
Super-Complex M&A LBO Modeling
Distressed Modeling
Bank Financial Modeling
Insurance Financial Modeling
Real Estate Development Modeling
REIT Financial Modeling
Buy-Side Series
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Sample Video Clips
Corporate Valuation Methodologies & Corporate Finance