Podcast Episodes
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Valuation Tools Webcast #8: Terminal Value
The terminal value in a discounted cash flow valuation is the elephant in the room. In this webcast, I look at simple rules to keep it in check.
Lear…
4 months, 2 weeks ago
Session 16: Valuing the market and companies across the life cycle
We started this class with a model to value an index (the S&P 500). If you are interested in an updated version, where you can change the numbers try…
4 months, 2 weeks ago
Valuation Tools Webcast #7: Measuring Accounting Returns
The return on equity and invested capital are key to estimating growth and value at companies, but they are accounting numbers and need tender care a…
4 months, 2 weeks ago
Session 15: Celsius Case Analysis, Real Options and Investment Post-mortems
In this class, we started with a discussion of the Celsius case, and the case presentation and case analysis (Excel file links) are below:
Case:
https:…
4 months, 2 weeks ago
Valuation Tools Webcast #4: Capitalizing Leases
Accountants routinely miscategorize leases and treat them as operating expenses (instead of financial expenses). In this webcast, I look at the proce…
4 months, 2 weeks ago
Session 15: Valuations across the life cycle
In this session, we completed our the challenges in valuing young companies, and then took a look at mature companies in transition, and how you have…
4 months, 2 weeks ago
Valuation Tools Webcast #5: Capitalizing RandD
R&D is really capital expenditures (for technology and pharmaceutical companies) but accountants treat it as operating expenses. In this webcast, I l…
4 months, 2 weeks ago
Session 17: Valuing Declining, Emerging Market and Financial Service companies
In this class, we continued discussing companies on the dark side of valuation. First, we talked about valuing declining and emerging market companie…
4 months, 2 weeks ago
Valuation Tools Webcast #6: Estimating Trailing 12-month number
The key to getting an updated value is working with updated numbers. In this webcast, I look at how use an annual and quarterly report to construct a…
4 months, 2 weeks ago
Session 16: The Debt Equity Tradeoff
In this class, we started our discussion of the financing question by drawing the line between debt and equity: fixed versus residual claims, no cont…
4 months, 2 weeks ago