A zoom-in, zoom-out, connect-the-dots take on FCF models, Dividend discount models, and equity valuation.
- Equity Valuation Introduced: intrinsic value, price, valuation and market capitalisation.
- Absolute Valuation Techniques focus on getting a point estimate of a company’s intrinsic value. This is invariably done by discounting a series of cash flows projected into the future.
- Net Present Value and Discounting Cash Flows: NPV is a crucial concept in finance – and in life. Understand what the present value of an asset is, how it relates to the rate of return on the asset, and how risky cash flow streams are handled.
- CAPM, Weighted Average Cost of Capital and Required Equity Return: These are key concepts required in valuing the risky stream of cash flows that represent a company’s value.
- Dividend Discount Models: A family of absolute value models that discount the dividends from a stock. Despite their seeming simplicity, there is some real wisdom embedded into these models. Understand them.
- Free Cash Flow Valuation: FCF valuation is a serious valuation tool. Understand how to use it right – and when not to use it.
- FCFF and FCFE: The fine print on calculating Free Cash Flows to the Firm, and to Equity holders.
- Business majors and aspiring MBAs
- Finance professionals who are rusty on equity valuation
- CFA Candidates
- Accountants looking to strengthen their applied corporate finance skills
- Non-finance professionals, aspiring entrepreneurs looking to understand how companies are valued
|Price, Value and Valuation|
|Valuation and Market Cap||00:00:00|
|A Taxonomy of Valuation Methods||00:00:00|
|NPV and Discounting Cash Flows|
|Absolute Valuation Models and NPV||00:00:00|
|Compound Interest and NPV||00:00:00|
|NPV and Price||00:00:00|
|A Simple NPV Example||00:00:00|
|Future Value of a Present Cash Flow||00:00:00|
|NPV of a Stream of Cash Flows||00:00:00|
|Valuing Uncertain Cash Flows|
|Discounting Risky Cash Flows||00:00:00|
|Risk Return Models||00:00:00|
|The Capital Asset Pricing Model||00:00:00|
|WACC: The Weighted Average Cost of Capital||00:00:00|
|Tax adjusting the cost of debt||00:00:00|
|WACC for consistency||00:00:00|
|Beta: Top-down or bottoms-up?||00:00:00|
|Market Beta or Total Beta?||00:00:00|
|Levering and Unlevering Betas||00:00:00|
|Debt and Operating Leases||00:00:00|
|Cost of Debt: Some additional factors||00:00:00|
|Dividend Discount Models|
|Dividend Discount Models||00:00:00|
|Present Value, Future Value and Capital Appreciation||00:00:00|
|Modeling Future Dividends||00:00:00|
|Cash Cows: Constant Dividends and Growth Opportunities||00:00:00|
|Sustainable Growth Rate of Equity||00:00:00|
|Gordon Growth Model||00:00:00|
|Free Cash Flow Models|
|Introducing FCF Valuation||00:00:00|
|FCFF and FCFE Details|
|Introducing FCFF and FCFE||00:00:00|
|FCFF from CFO||00:00:00|
|FCFE from FCFF||00:00:00|
|FCFF or FCFE? Also, the APV Method||00:00:00|
|Why not Net Income or EBITDA?||00:00:00|
|FCFF from Net Income or EBITDA||00:00:00|
|Tying Up Loose Ends||00:00:00|
|Introducing Relative Valuation Models||00:00:00|
|The P/E Ratio: Pros and Cons||00:00:00|
|Mechanics of calculating the P/E ratio||00:00:00|
|Market P/E and Macro-economics||00:00:00|
|Other Valuation Ratios: P/B and EV/EBITDA||00:00:00|
|Capital Structure and the M-M Propositions|
|Capital Structure Introduced||00:00:00|
|Leverage, and the second M-M proposition||00:00:00|
|No Free Borrowed Lunch: The First M-M Proposition||00:00:00|
|Behind the Numbers: The Intuition Behind M-M||00:00:00|
|The Inevitability of Taxes||00:00:00|
|Wrapping up MM in a world with taxes||00:00:00|
0 STUDENTS ENROLLED