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New York Institute of Finance logo

New York Institute of Finance

Business Valuation

  • up to 6 hours
  • Beginner

Learn the fundamentals of valuing public and private companies through a case study approach. This course focuses on the Discounted Cash Flow (DCF) method, providing practical skills to build a DCF analysis for real-world acquisitions.

  • Business Valuation
  • Discounted Cash Flow
  • Free Cash Flow
  • Weighted Average Cost of Capital
  • Terminal Value

Overview

This comprehensive course covers the essential methodologies for business valuation, with a focus on the Discounted Cash Flow (DCF) method. Participants will learn to build a DCF analysis, understand free cash flows, calculate the Weighted Average Cost of Capital (WACC), and determine terminal value. The course also introduces sensitivity and scenario analysis to refine valuations, making it ideal for professionals in finance and investment sectors.

  • Web Streamline Icon: https://streamlinehq.com
    Online
    course location
  • Layers 1 Streamline Icon: https://streamlinehq.com
    English
    course language
  • Professional Certification
    upon course completion
  • Self-paced
    course format
  • Live classes
    delivered online

Who is this course for?

Credit Professionals

Individuals working in credit who need to understand business valuation for credit assessments.

Investment Bankers

Professionals in investment banking seeking to enhance their valuation skills for mergers and acquisitions.

Corporate Finance Specialists

Corporate finance professionals looking to deepen their understanding of business valuation techniques.

Gain a solid foundation in business valuation with a focus on the DCF method. Ideal for finance professionals, this course equips you with the skills to perform valuations and enhance your career in investment banking or corporate finance.

Pre-Requisites

1 / 1

  • This course has no prerequisites.

What will you learn?

Introduction to Business Valuation
Why determine a business valuation? The role of the public markets in business valuation. Common valuation methodologies. Why discounted cash flow is the best approach. Introducing Kellogg's as our case study.
The Foundations of Free Cash Flows
Cash flow vs. free cash flow. Determining free cash flow. Reconciling free cash flow with the consolidated statement of cash flow. Value Drivers. Projecting Kellogg's free cash flows for the projection period based on the value drivers.
The Weighted Average Cost of Capital (WACC)
Introducing the weighted average cost equation. Calculating the after-tax expected cost of debt. Using CAPM to calculate the expected cost of equity. Calculating the weighted average cost for Kellogg's before and after the Keebler acquisition. The effect of leverage on weighted average cost.
Terminal Value
Defining terminal value and its impact on the DCF valuation. Methods for determining terminal value. Determining the most appropriate terminal value for Kellogg's.
The DCF Approach to Business Valuation
Measuring shareholder value creation. Discounting to find the value of operations. Determining the total entity or market value. Determining the total value of equity and per-share value of equity. Valuing Kellogg's using the DCF approach.
The Limitations of the DCF Approach
Sensitivity of DCF valuations to the assumptions made. Using sensitivity analysis to improve the base case valuation. Scenario analysis and Monte Carlo simulations.

Upcoming cohorts

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$379