Full-Day Classroom Seminar
Valuation of Companies
Understand what drives company value, apply practical valuation methods and arrive at a defensible valuation range.
A practical 6-session online programme covering financial analysis, DCF valuation, market multiples, asset-based valuation, special situations and interpretation of valuation results.
The Programme
Programme Overview
Introduction
Course Overview
Company valuation is not simply about applying a multiple or calculating a discounted cash flow. A meaningful valuation requires an understanding of the company’s financial performance, sustainable earnings, growth prospects, cash generation, risk and the assumptions underlying each valuation approach.
This programme provides a structured approach to valuing companies using income, market and asset-based methods. Participants learn how to analyse financial statements from a valuation perspective, normalise earnings, develop forecasts, apply the Discounted Cash Flow method and use relevant market multiples.
The programme also addresses private companies, loss-making businesses, intangible assets, control premiums, marketability discounts and other valuation adjustments. Participants bring the different approaches together to test assumptions, reconcile results and arrive at a defensible valuation range.
Outcomes
What You Will Learn
- Understand the purpose of valuation for investment, acquisition and strategic decisions.
- Distinguish enterprise value, equity value and market price.
- Explore income, market and asset-based valuation approaches.
- Identify key value drivers including growth, profitability, risk and cash generation.
- Read financial statements from a valuation perspective.
- Adjust for exceptional items and non-recurring income and expenses.
- Assess working capital, capital expenditure and debt obligations.
- Evaluate earnings quality and sustainable operating performance.
- Build revenue, margin and cash flow projections.
- Understand free cash flow to the firm and equity holders.
- Estimate cost of capital and select an appropriate terminal growth assumption.
- Apply DCF, market multiples and other valuation approaches to arrive at a defensible valuation range.
Methodology
How We Teach
- Practical, application-focused learning around company valuation decisions.
- Financial statement analysis from a valuation perspective.
- Exercises on normalising earnings and identifying sustainable operating performance.
- DCF valuation exercises involving forecasts, cost of capital and terminal value.
- Comparable-company and market-multiple analysis.
- Case-based discussion of private companies, loss-making businesses and valuation uncertainty.
- Sensitivity and scenario analysis to test key valuation assumptions.
- Integrated company valuation case study bringing multiple methods together.
The Outcome
Impact & Audience
For the Organization
Organizational Impact
- Improve the quality of valuation-based investment and strategic decisions.
- Strengthen understanding of the assumptions underlying company valuations.
- Support more informed acquisition, investment and business-planning discussions.
- Improve assessment of sustainable earnings, cash generation and financial risk.
- Enable teams to compare valuation outcomes using multiple approaches.
- Strengthen the ability to communicate and defend a valuation range.
For the Individual
Personal Impact
- Build confidence in analysing companies from a valuation perspective.
- Understand the difference between enterprise value, equity value and market price.
- Develop practical skills in DCF and relative valuation.
- Learn to assess earnings quality and normalise financial performance.
- Understand how growth, profitability, risk and cash generation influence value.
- Develop the ability to test assumptions and interpret valuation results.
Audience
Who Should Attend
- Finance Professionals: To strengthen practical company valuation and financial analysis skills.
- Investment & M&A Professionals: To support investment, acquisition and transaction-related valuation decisions.
- Corporate Finance Teams: To evaluate businesses using DCF, market and asset-based approaches.
- Business & Strategy Professionals: To understand the financial drivers behind business value.
- Equity & Investment Professionals: To improve analysis of company performance, multiples and valuation assumptions.
- Senior Managers & Decision-Makers: To interpret valuation results and use them in strategic discussions.
Curriculum
Course Outline
Session 1: Foundations of Company Valuation
- Understand the purpose of valuation for investment, acquisition and strategic decisions.
- Distinguish between enterprise value, equity value and market price.
- Explore income, market and asset-based valuation approaches.
- Identify key value drivers including growth, profitability, risk and cash generation.
- Understand how different valuation approaches may be relevant in different business situations.
- Connect financial and business fundamentals with the overall value of a company.
Session 2: Financial Analysis & Normalising Earnings
- Read financial statements from a valuation perspective.
- Identify exceptional items and non-recurring income and expenses.
- Adjust reported earnings to assess sustainable operating performance.
- Assess working capital requirements and their impact on valuation.
- Evaluate capital expenditure and debt obligations.
- Assess earnings quality and the sustainability of reported financial performance.
Session 3: Forecasting & Discounted Cash Flow Valuation
- Build revenue, margin and cash flow projections.
- Understand free cash flow to the firm and free cash flow to equity holders.
- Assess the assumptions underlying projected cash flows.
- Understand the role of cost of capital in DCF valuation.
- Select an appropriate terminal growth assumption.
- Calculate enterprise value and equity value using the DCF approach.
Session 4: Relative Valuation & Market Multiples
- Select comparable companies and relevant industry benchmarks.
- Apply P/E, EV/EBITDA, EV/Sales and price-to-book multiples.
- Understand the use of comparable transaction analysis.
- Compare companies using relevant operating and financial characteristics.
- Adjust comparisons for differences in growth, risk, size and profitability.
- Interpret relative valuation results alongside other valuation approaches.
Session 5: Valuation Adjustments & Special Situations
- Understand asset-based valuation and its appropriate applications.
- Evaluate private companies and businesses with limited financial information.
- Consider control premiums and marketability discounts.
- Assess the implications of different ownership interests.
- Address valuation challenges involving loss-making businesses and intangible assets.
- Consider valuation uncertainty when applying different valuation approaches.
Session 6: Interpreting & Presenting Valuation Results
- Bridge enterprise value to equity value through debt, cash and other adjustments.
- Test key valuation assumptions through sensitivity analysis.
- Use scenario analysis to understand the effect of changing assumptions.
- Reconcile results from different valuation methods.
- Arrive at a defensible valuation range based on the analysis.
- Apply the concepts through an integrated company valuation case study.
Faculty & Inclusions
Your Trainer
Faculty
Instructor Details
What's Included
Certificates & Inclusions
- Certificate and programme inclusions as per the applicable training format.
- Company valuation framework covering income, market and asset-based approaches.
- Financial analysis and earnings-normalisation approach.
- DCF valuation framework covering forecasts, cost of capital and terminal growth.
- Comparable-company and market-multiple assessment approach.
- Framework for valuation adjustments and special situations.
- Sensitivity and scenario-analysis approach for testing valuation assumptions.
- Integrated company valuation case study.
Registration
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Questions
Frequently Asked Questions
The programme focuses on understanding and applying practical company valuation methods, including DCF, market multiples and asset-based valuation, while also analysing the financial and business factors that drive value.
Yes. Participants learn to build revenue, margin and cash flow projections, understand free cash flow, estimate cost of capital and terminal growth, and calculate enterprise and equity value using the DCF approach.
Yes. The programme covers comparable companies, industry benchmarks, P/E, EV/EBITDA, EV/Sales and price-to-book multiples, along with comparable transaction analysis.
Yes. The programme addresses private companies, businesses with limited financial information, loss-making businesses, intangible assets and situations involving valuation uncertainty.
The programme covers sensitivity and scenario analysis and brings different valuation methods together to help participants arrive at a defensible valuation range.
