EQUITY VALUATION AND ANALYSIS - LUNDHOLM PDF

This has become a text book we now recommend to those who are interested in learning valuation but not in a formal MBA program or finance or valuation course because of its approach, structure and the resources provided in the Equity Valuation and Analysis website. While those enrolled in taught courses have prescribed text books, professionals who are looking to learn seek recommendations on a text book to follow and we are adding this text book to the list. We think this text book is unique because of the following reasons: Focus on Equity Valuation This book is built with a clear focus on equity valuation from the ground up. We believe that the entire corporate finance course should be built around the need to accurately measure value.

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This book spans the void between the abstract theoretical treatment of equity valuation and the practical problem of valuing an actual company using real-world data. We give serious treatment to the underlying theory of financial analysis and valuation, but our main goal is to be able to arrive at a pragmatic answer to the important question, "what is this company really worth?

The key differences can be summarized as follows Our focus is on generating good financial statement forecasts. We provide detailed practical guidance on how to obtain and analyze relevant real-world data. We demystify the mechanics of equity valuation. Our overriding theme is that good forecasts of the future financial statements are the key input to a good valuation. Most other aspects of the valuation process are mechanical and can be programmed into a computer.

In fact, this text refers often to eVal, a fancy Excel workbook that provides a template for these many mechanical tasks and is freely available. As with many other textbooks, we discuss topics like business strategy analysis, accounting analysis, financial ratio analysis, and so forth. However, we always do so with a clear view to how these analyses help us to generate better financial statement forecasts.

We also provide plenty of advice on where to go to obtain the most relevant raw data. Armed with such a rich source of data, we are able to provide you with plenty of practical examples and limitless opportunities for you to practice doing your own analyses.

A final goal of this book is to demystify the valuation process. In the past, we have seen students become lost in a sea of valuation formulas and inconsistent spreadsheet models. They become obsessed with learning acronyms and formulas but flounder when asked to provide a plausible valuation for an actual company. We demonstrate that these different formulas are easily reconciled and refocus students on developing the best set of financial forecasts to plug into these formulas.

This reinforces our main point that the key to good valuations is good forecasts. The theory of financial analysis and valuation is more compelling when linked to real-world examples. The abstract theory of financial statements, ratios, and valuation formulas can be covered in a few boring lectures. Is Apple really worth more than any other public company in the world? The answer is probably yes, once you understand its free cash flow generating ability.

Tesla wants to produce and sell hundreds of thousands of cars in the future, but can it generate enough cash from existing sales to fund the production of all these new cars?

A careful study of their cash flows shows that they will almost certainly be borrowing lots of money to build all these cars. Financial statements, accounting rules, financial ratios, and valuation models are all pretty dull beasts on their own, but if we can use them to answer questions such as these, we can really bring them to life.

By blending the theory of equity analysis with practical application, we feel that students learn both more effectively.

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Equity Valuation and Analysis

This book spans the void between the abstract theoretical treatment of equity valuation and the practical problem of valuing an actual company using real-world data. We give serious treatment to the underlying theory of financial analysis and valuation, but our main goal is to be able to arrive at a pragmatic answer to the important question, "what is this company really worth? The key differences can be summarized as follows: 1. Our focus is on generating good financial statement forecasts. We provide detailed practical guidance on how to obtain and analyze relevant real-world data. We demystify the mechanics of equity valuation. Our overriding theme is that good forecasts of the future financial statements are the key input to a good valuation.

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ISBN 13: 9780073526898

About this title Equity Analysis and Valuation with eVal closes the gap between the theoretical treatment of equity valuation and the actual practice of valuing a company using real-world data. To that end, the book employs eVal, an Excel-based workbook that guides the user through the forecasting and valuation processes while taking care of the mundane computations. By providing a unified interface for the valuation process, eVal allows you to focus on the forecasting, not on the spreadsheet. The book covers the topics of business strategy analysis, accounting analysis, financial analysis, forecasting and valuation and also alerts readers to common pitfalls encountered in equity valuation and analysis.

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EQUITY VALUATION AND ANALYSIS – LUNDHOLM PDF

Want to Read Currently Reading Read. In fact, eqiity text refers often to eVal, a fancy Excel workbook that provides a template for these many mechanical tasks and is freely available. Bortom varje rimligt tvivel Malin Persson Giolito 58 kr. The key differences can be summarized as follows: Get fast, free shipping with Amazon Prime. Amazon Drive Cloud storage from Amazon. Would you like to tell us about a lower price? Explore the Home Gift Guide.

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Equity Valuation and Analysis: 4th Edition

HPB pick - Out of stock Loading HPB condition ratings New: Item is brand new, unused and unmarked, in flawless condition. May show remainder marks. Older books may show minor flaws. Very Good VG : Shows some signs of wear and is no longer fresh.

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