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Valuation Modelling

Importance of Valuation

Valuationanalysishasneverbeenasimportantasit isrightnow.Inabusinessworldfulloftax consolidations,PublicPrivatePartnershipsandtrade salesfewanalystscanconstructrobustvaluations. Thiscourseaimstoplugtheholesandprovidereal-life examplesforvariousenterprise,equityand projectvaluations.

Theory

Whileallofourcoursesfocusonthepractical applications,anunderstandingoftheoryis particularlypertinenttothiscourse.Thisworkshop willhighlightandexaminethetheoreticalissuesthat surfaceregularlyintherealmofcorporatefinance andwillchallengesomeoftheinappropriate practicescurrentlybeingadoptedintherealworld.

Key Benefits

Thiscoursewillprovideyouwiththe followingtangibleinsights:

  • Howtocalculatefreecash flowsfromexisnginformaon
  • Anappreciationofthe differencesbetween enterprisevalue,equityvalue andprojectinvestment appraisal
  • Anunderstandingoftheissues associatedwithdeveloping equityvaluations.
  • Howtocheckyourvaluaons usingdifferentanalycal techniques

Programme Outline

  • TheconceptofaDiscountedCashFlow
  • Thedifferencebetweenriskanduncertainty
  • HowtocalculateFreeCashFlows
  • Determiningthecostofequity:betasandthe CapitalAssetPricingModel(CAPM)
  • Determiningthecostofdebtanditshidden impactonFreeCashFlowtotheFirm
  • CalculatingtheWeightedAverageCostof Capital(WACC)
  • Theroleoftaxinvaluations
  • Theimportanceofstakeholderanalysisina valuation
  • Realversusnominalconsiderations
  • Applicationofsensitivityandsimulation analysesinavaluaoncontext
  • Othervaluationtechniques:earnings multiples,FairValueofIdentifiableNetAssets (FVINA),Dividend DiscountedModellingand RealOponsAnalysis
  • Othermetrics:differinginternalratesof return(IRR,XIRRandMIRR),EconomicValue Added(EVA)(¬©SternStewart),Strategic ValueAdd(SVA),MarketValueAdded(MVA) andthelinktoNetPresentValue(NPV).

Who Should Attend

Thiscourseisessentialforthoseseeking tobroaden andenhancetheirapproach tovaluation,andultimatelyconstruct robustvaluationsbyapplyingdifferent techniques. 

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