Course description
Advanced Corporate Analysis, Valuation & Financial Modelling
The course will run for three days, with a 3 ¼ hour session in the morning and in the afternoon. There will be a 15-minute mid-break in the morning and afternoon and a one-hour lunch break. Participants must bring a lap-top to the course to carry out the case studies.
Company valuation is used for the purposes of investment, M&A or as part of internal measures of financial control. It is extensively applied when companies issue new shares, undertake capital redemptions, divest operations or acquire other companies. The ever-present private equity industry is also dependent on solid valuation analysis. There are many different approaches to the analysis and valuation of companies and it is paramount to know when and how to apply the most appropriate method. It is also essential to understand that company analysis is not an absolute science but based on interpretation and judgment. This highly practical course will lead you quickly from the basics through to the more advanced analysis and valuation methodologies and modelling techniques. The course also examines how valuations can be adjusted for illiquidity, NCI stakes and private status..
Methodology
This practical course is taught using formal lectures combined with practical and interactive case studies and exercises to reinforce the concepts covered in each teaching session. Emphasis is placed on you gaining handson experience of the various valuation techniques.
Upcoming start dates
Training content
Section 1: Advanced financial analysis
- 1.1 Recap how key income statement figures impact valuation
- 1.2 Recap how key cashflow statement figures impact valuation
Day 1: AfternoonSession 2
- 1.3 Recap how key balance sheet items affect the valuation
- 1.4 Manipulating the reported numbers
Session 3
- Section 2: Equity financing
- Section 3: Debt financing
- Section 4: Key qualitative considerations
Session 4
- Section 5: Multiples based valuations
- 5.1 Equity multiples
- 5.2 EV multiples
Session 5
Section 6: DCF and cost of capital
- 6.1 Advanced considerations for cost of capital
- 6.2 Forecasting unlevered FCF
- 6.3 Terminal value
- 6.4 Understanding returns
- 6.5 Distortions in calculating ROCE
Section 7: Advanced DCF methods and EVA
- 7.1 Advanced DCF methods
Session 6
- 7.2 EVA as an alternative to DCF
- Section 8: Valuing fast growth firms
- Section 9: Illiquidity discounts
- Section 10: Mergers and Acquisitions
- 10.1 Background to M&A valuations
- 10.2 Valuing the target
- 10.3: Acquisition modelling including financing
Costs
Course fee
- London - £3645 + VAT
- Paris - £3645 + VAT
Certification / Credits
The course will give a recap of corporate valuation techniques. In addition, after completing this course Participants will learn:
- How to analyse more complex accounts
- How key line items in the financial statements can impact valuation
- How to use ratio analyse to position the firm within its peer group
- How firms can manipulate reported earnings, leading to over-valuation
- How equity, debt and hybrid financing can impact the valuation
- More advanced DCF techniques
- EVA and how this is an alternative to DCF
- Valuation techniques for high growth firms
- How to calculate discounts for private firms and minority stakes
Why choose Euromoney Learning?
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Euromoney Learning
At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...
Reviews
Average rating 4.7
Good value for money.
The course was very comprehensive and perfectly adapted to my professional needs.
Very interesting and comprehensive content. Good instructor with good, relevant examples.