Company Valuation

• Introduction to valuation
• Price versus value
• Company and industry dynamics
• Risk and value 
• The annual report

Introducing our case study 

Asset valuation techniques

• What are you valuing
• Determining book value
• Adjusting book value
• Exercises on book based valuations

The fundamentals of markets and market valuation

• Investors and expectations
• Risk versus return
• The time value of money
• Perfect and efficient markets
• Inefficiency and market bubbles
• Economic theory
• Portfolio theory

Market Based Valuation techniques

• Determine market value
• Dividend yield
• Price to book ratio
• PE multiple
• Determine price to cash flow
• Enterprise value to EBITDA
• Ratio's and comparison of market multiple techniques

DCF methods

• Introduction to cost calculations of the capital components and DCF valuation methods

The cost of capital

• Cost calculations of the capital components
• Areas of controversial debate in deriving cost of capital
• Share market premium, betas and the risk free rate
• The optimal capital structure cost of capital
• Cost of different sources of capital
• Measuring the cost of capital
• Using the Capital Asset Pricing Model
• Calculating the Weighted Average Cost of Capital

DCF Valuation steps

• Investment horizon
• Forecast operating cash flows
• The residual value and discounting the cash flows

Valuation in Context

• The market regulation
• New issues
• Privatisation, Mergers and Acquisitions and restructuring

Case Study

•  We calculate the book, market and DCF valuation techniques and make decisions on best option.

Debrief Case

• Sensitivity and scenario analysis
• Application of DCF under different market conditions (emerging) or corporate actions (mergers or takeovers)

A course with 10 participants is very good to favour the interactivity. Thanks for the perfect course content and lecture.

Very good course, teacher, and approach. Material available on-line prior the course + request to the participants about their expectations from the course.

A pleasant and knowledgeable instructor with a lot of interaction among participants.

An excellent course for people like myself.

Congratulations! Very well done. Nothing more to add.

I really appreciated the empathy and skills of the lecturer Bruno Bosch. Also, the size of the group (7 persons) was perfect to have the necessary interactivity throughout the course.

I strongly recommended this training to my colleagues as I found it very useful.

I think this was one of the best course I've ever attended. The trainer, Mrs Maureen, was extremely pedagogic and the structure of the course was very well planned with just the right mixture of theory versus practical examples and exercises.

It was a very enjoyable course. The group was small which made it easier to be 100% involved.  The exercises and case study were absolutely great and necessary to put the theory in practice. A very knowledgeable teacher.

It was nice to have a lecturer with profound knowledge on the topic so that the level of discussion could go further than the simple basics of valuation.

Lecturer had good understanding of the subject and good understanding of practical application.

Perfect for me. Exactly what I was looking for.

Thank you for the training, which was very clear and met my needs.

The course absolutely answered my expectations and needs.

The lecturer is a knowledgeable person with real market experience which is a plus.

The lecturer is excellent. She explained clear and control good interaction with students.

The training format and takeaways corresponds to what I expected. Thanks for the good preparation

Theoretical explanations good and with good interaction with audience.

There were lots of real life examples and relation to peoples own industries.

This was an excellent course and Kris made it very interesting and useful. He is highly knowledgeable, skilled and open to suggestions.

Thumbs up Maureen!

Very good and interesting training. One of the best I ever had.