Corporate Valuation Modules

Module 1
Corporate Valuation - An Introduction
• Fundamentals of key valuation methodologies
• Key valuation concepts: Equity vs. Enterprise Value, importance of EBIT and EBITDA
• Normalizing financial results for non-recurring items

Module 2
Public Comparables Analysis
• Selecting the appropriate peer group and gathering financial information
• Calculating Market Value under the Treasury Stock Method and Enterprise Value
• Calculating multiples of both Equity and Enterprise Value
• Analyzing multiples from a peer group

Module 3
Acquisition Comparables Analysis
• Selecting the appropriate deal list and gathering financial information
• Calculating Offer Value and Transaction Value
• Premium paid analysis
• Analyzing multiples from precedent transactions

Module 4
Discounted Cash Flow Analysis
• Strengths and considerations of a DCF analysis
• Discounting unlevered free cash flows and terminal values (under both the exit multiple and perpetuity growth rate approach)
• Deriving a DCF valuation

Module 5
Merger Consequences Analysis
• Concept of affordability analysis
• Fundamentals of purchase accounting and the creation of goodwill
• Calculating accretion/dilution and credit rating impact under different financing scenarios

Module 6
Leveraged Buyout Analysis
• Concept of de-leveraging
• Common sources of funding for an LBO
• Understanding the different viewpoints of LBO constituents (seller to lender to private equity investor)
• Calculating investment returns to a financial sponsor