Likewise, as facilitators of mergers and acquisitions, investment bankers are tasked with finding answers to crucial questions such as, "How much is the company really worth? Is its stock overvalued or undervalued, and, if so, what is the most correct stock price? Unlike you, though, the big banks employ armies of analysts trained in the most sophisticated financial modeling techniques. Written for complete novices and experienced professionals alike, Financial Modeling and Valuation is a highly accessible, step-by-step guide to understanding and performing fundamental analysis and stock valuation. Author Paul Pignataro, founder and CEO of the world-renowned New York School of Finance, takes a unique approach to educating you in the fundamental tools for assessing the soundness of a stock investment.
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You will construct a full scale financial model and valuation step-by-step as you page through the book. When we ran this analysis in January of , we estimated the stock was undervalued.
Since the first run of the analysis, the stock has increased 35 percent. Re-evaluating Wal-Mart 9months later, we will step through the techniques utilized by Wall Street analysts to build models on and properly value business entities.
Step-by-step financial modeling - taught using downloadable Wall Street models, you will construct the model step by step as you page through the book. Hot keys and explicit Excel instructions aid even the novice excel modeler. Model built complete with Income Statement, Cash Flow Statement, Balance Sheet, Balance Sheet Balancing Techniques, Depreciation Schedule complete with accelerating depreciation and deferring taxes , working capital schedule, debt schedule, handling circular references, and automatic debt pay downs.
Illustrative concepts including detailing model flows help aid in conceptual understanding. Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional. Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections.
Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals. Precedent transactions analysis - detailing how to extract proper metrics from relevant proxy statements Discounted cash flow analysis - simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital WACC Step-by-step we will come up with a valuation on Wal-Mart Chapter end questions, practice models, additional case studies and common interview questions found in the companion website help solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.
Financial Modeling and Valuation by Paul Pignataro PDF/ePub Download
Financial Modeling and Valuation : A Practical Guide to Investment Banking and Private Equity