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How to valuation a company

How to valuation a company

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Published by api-3764496
Methods for valuation a company
Methods for valuation a company

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Published by: api-3764496 on Oct 16, 2008
Copyright:Attribution Non-commercial

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03/18/2014

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\u201cHow Do You Value a Company?\u201d
December 2, 2003
Graduate Finance Association
Stern School of Business
Agenda
1. Overview
2. Public / Trading Comparables
3. Acquisition Comparables
4. Discounted Cash Flow (Firm, Equity)
5. Other Techniques (LBO, Private company,
Liquidation value, Option value)
The most common types:
\u2022Value based on public multiples (relative
value)
\u2022Implied value in public securities markets
(IPO analysis)
\u2022Focused on forward looking EBITDA, EPS
or Cash Flow
Overview
Acquisition Comps
Trading Comps
DCF
\u2022Value based on multiples paid for
comparable companies/assets in M&A
transactions
\u2022Implied value in public and private market
\u2022Focused on multiples of historical
EBITDA, EPS or Cash Flow

\u2022PV of cash flows
\u2022\u201cInherent\u201d or intrinsic value
\u2022Best captures the business in transition
\u2022Sensitivity analysis / Synergies analysis

Public Comps
DCF
M&A Comps
Others

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