Learn from various models and practical exercises
Address Key Issues
Challenge a number of ‘lazy habits’ that have been adopted by companies in the analysis behind their decision-making
Gain A Full Understanding
Bridge the gap between theory and practice
Key Takeaways
A wealth of additional materials, including books and financial models; DCF, Dividend valuation, APV, Pricing, LBO, Acquisition consolidation, Project financing.
A-Z of Corporate Valuation
All business decisions taken by a private-sector corporation are based around price versus value judgements. It is therefore critical that those active in decision-making or their analysis are confident in their ability to quantify the valuation of decisions as well as the value of companies as a whole.
Academic textbooks, which promote the utopia of ‘perfect markets’, tend to fall short in preparing executives and analysts for the practical context in which their skills will need to be applied.
This course adapts the core approaches to valuation to the specific areas of project appraisal, emerging markets, acquisitions, leveraged finance, private companies, joint ventures, and limited recourse financings
Many courses adopt a mechanical approach to learning – step 1, step 2, step 3, etc. This course is designed to give participants the confidence to adapt the approach to the practical context in which it is being applied.
In just 3 days you will:
- Understand the key concepts, terminology, and factors that underpin corporate valuation
- Fully understand the pricing of risk & DCF
- Be able to implement valuation with best practice with a solid understanding of the issues those theoretical concepts are seeking to apply
- Understand frequently encountered errors and the implications in valuation models
- Be able to accurately price
- Discover the adaptations to the earlier approach to valuation
- Consider strategies & shareholder value – consider a different way of looking at the drivers of value, and how it can be used to identify the required strategy to reposition a company’s business
- Learn the correct calculation of IRR and NPV
- Be able to forecast corporate performance
MEET YOUR TRAINER
Our Expert Trainer has a exceptional blend of experience in Law, Corporate Banking, Investment Banking, Corporate Financial Management, General Management and Workout.
During the course of his professional experience, our Expert Trainer has consulted on a range of power generation, LNG, mining, and petrochemical projects, as well as undertaking project vetting for a number of clients. He has worked for a number of the largest financial institutions around the world in various senior finance-related roles.
He has gained a worldwide reputation for the quality and depth of his training courses which have been developed and presented over 25+ years.
Organisations that will benefit:
- Corporates
- Banks
- Investment Banks
- Management consultants
Who will attend:
- Senior Management
- Directors
- Portfolio Managers
- Analysts
- Corporate Financiers
- Credit Analysts
- Relationship Managers
- Auditors
COURSE AGENDA
Day 1: Fundamentals ⇓
- Foundation Principles
The concepts that underlie corporate valuation.
- The Pricing of Risk & DCF
In discounting cashflow methodologies, the derivation of discount rates is laden with theory. When applying valuation techniques in practice, the analyst needs to avoid a purely mechanical approach, and adapt the approach as necessary with a solid understanding of the issues those theoretical concepts are seeking to apply. - Frequently Encountered Errors in Valuation Models
Many valuations lead to erroneous conclusions because of the rigidity of the approach. This session illustrates some of those errors and the implications.
Day 2: Pricing, financial decisions and adaptions ⇓
- Detailed DCF Valuation Case Study
- Pricing
All management decisions are an assessment of price versus value – so the understanding of a market’s appetite is equally as important as an understanding of the valuation of the asset/company. Valuation is what the price should be. Price is what the price actually is. How do we gauge the market appetite? To do pricing badly is easy – simply apply the market multiples to our situation. To do it well requires considerable skill and care. - The Influence of Financing Decisions
A controversial area of valuation is the influence that the financing of a company (or of a specific transaction) has on the company’s value. One of the main controversies is the clash of academic theory and the actual behaviour of markets. - Adaptations to Approach
Valuation in the earlier sessions did not deal with complexities that are commonly encountered in reality. We adapt the valuation approach to LBOs and other private equity transactions, investment appraisal. Emerging markets, private companies, joint ventures, M&A transactions, project financings.
Day 3: Shareholder value, IRR and forecasting ⇓
- Strategies & Shareholder Value
The creation of value. The weakness of equity markets is that they prioritise growth and the analysis of financial statements (e.g. EPS). Growth without value is not worth having. This session introduces a different way of looking at the drivers of value, and how it can be used to identify the required strategy to reposition a company’s business (as opposed to vetting investments for value-creation in isolation). - The Correct Calculation of IRR and NPV
One of the worst taught areas in the whole of finance. It is observed that 95% of models calculate IRR incorrectly. - Forecasting Corporate Performance
Valuation models differ greatly from financing models. This session captures the differences.
For further information please call: +44 (0)1372 308547
or click on the brochure tab below
“Very well presented course with real-life case studies which I can apply to my daily work immediately.”
- Past Client
“Fascinating course and a career-altering experience.”
- Past Client
