Valuation: Measuring and Managing the Value of Companies 7th Ed.


Part one  Foundations of Value

  • Why Value Value?
  • Finance in a nutshell
  • Fundamentals Principles of Value Creation
  • Risk and the Cost of Capital
  • The Alcheny of Stock Market Performance
  • Valuation of ESG and Digital Initiatives
  • The Stock Market is Smarter Than You Think
  • Return on Invested Capital
  • Growht

Part Two  Core Valuation Techniques

  • Frameworks for Valuation
  • Reorganizing the Financial Statements
  • Analyzing Performance
  • Forecasting Performance
  • Estimating Continuing Value
  • Estimating the Cost of Capital
  • Moving from Enterprise Value to Value per Share
  • Analyzing the Results
  • Using Multiples
  • Valuation by Parts

Part Three  Advanced Valuation Techniques

  • Taxes
  • Non operating Items, Provisions, and Reserves
  • Leases
  • Retirement Obligations
  • Measuring Performance in Capital-Light Business
  • Alternative Ways to Measure Return on Capital
  • Inflation
  • Cross-Border Valuation

Part Four  Managing for Value

  • Corporate Portofolio Strategy
  • Strategic Mangement: Analytics
  • Strategic Management: Mindsets and Behaviors
  • Mergers and Acquisitions
  • Divestitures
  • Capital Structure, Dividends, and Share Repurchases
  • Investor Communications

Part Five  Special Situations

  • Emerging Markets
  • High-Growth Companies
  • Cyclical Companies
  • Banks
  • Flexibility

Appendix A Discounted Economic Profit Equals Discounted Free Cash Flow

Appendix B Derivation of Free Cash Flow, Weighted Average Cost of Capital, and Adjusted Present Value

Appendix C Levering and Unlevering the Cost of Equity

Appendix D Leverage and the Price-to-Earnings Multiple

Appendix E Other Capital Structure Issues

Appendix F Technical Issues and Estimating the Market Risk: Premium

Appendix G Global, International, and Local CAPM

Appendix H A Valuation of Costco Wholesale

Appendix I Two-Stage Formula for Continuing Value