Course description

Knowing what an asset is worth is a prerequisite for intelligent decision making. As an investor I always want to know what the intrinsic value is vs current share price or the price the seller is offering (if private equity) and if I have a safety margin on the price. 

After this course you will be autonomous in evaluating companies. You will be equipped with a set of methods and knowing how to apply those methods in the public equity, private equity or venture capital universe :

  • asset-based valuation (cash to market cap, book value, modified book value, liquidation value)

  • going concern valuation (multiple revenue/earnings method, Free Cash Flow to Firm including DCF & DFE, Free Cash Flow to Equity including DDM, Gordon & Total shareholder yield)

  • relative valuation to understand the financial strength of a company (P/B, P/CF, P/S, P/E, PEG, EV)

Investing requires practice. In this training we will practice all absolute & relative valuation methods with 4 companies being 2 luxury companies (Richemont & Kering) & 2 tech companies (Apple & Microsoft). We will apply all our learnings each time for those 4 companies instead of using dummy companies that do not exist. The course will also cover special valuation situations like VC investments, IPOs/DPOs and banks. In those special valuation situations, we will be practicing on companies like Fitbit, GoPro, Etsy for the IPO/DPO part and Bank of America & Wells Fargo for bank valuation part.

After this course you will be able to determine the real value of a company vs the current share price. If you want to become a fully independent investor with deep valuation methods, this course is for you. BE AWARE this course is an ADVANCED LEVEL course. 

Investing in stocks and acting as a business-owner can be a life-changing experience. Learn from my 20 years experience as an investor running my own investment fund and rapidly move ahead faster with the knowledge I will share with you. 

Many thanks and I appreciate your interest in our course!

- Candi Carrera

Course curriculum

    1. Introduction & course content

      FREE PREVIEW

    2. Defining value & value creation

    3. Why valuating & analysing companies ?

    4. Valuation categories & methods

      FREE PREVIEW

    5. Knowledge check 1

    6. Feedback / survey

    1. Market capitalization & cash to market cap special case

    2. Book value

      FREE PREVIEW

    3. Adjusted asset method - introducing IFRS, US Gaap and impact on book value

    4. Adjusted asset method - financial instruments, PP&E and intangible brand value

    5. Liquidation value

      FREE PREVIEW

    6. Knowledge check 2

    1. Multiple revenue/earnings method

    2. Free Cash Flow to Firm (FCFF) method including DCF

    3. Free Cash Flow to Equity (FCFE) methods

    4. Knowledge check 3

    1. Introduction to relative valuation & Price to Book

    2. Price to Cash Flow

      FREE PREVIEW

    3. Price to Earnings

    4. Price to Sales

    5. PEG / Price Earnings Growth

    6. EV / Entreprise Value ratios

    1. Merger & Acquisitions

    2. Private Equity & Venture Capital

    3. IPOs & DPOs

      FREE PREVIEW

    4. Banks

    5. Knowledge check 5

    1. Summary & closing words

    2. Appendix 1 : using companion datasheet

About this course

  • €19,99
  • 29 lessons
  • 6.5 hours of video content

FAQ

  • What are the requirements or prerequisites for taking this course?

    As this training is an advanced training, students shall have the following prerequisites : Have an average understanding of financial statements, Be able to read and differentiate between balance sheet, income statement & cash flow statement. Last but not least being fluent in Be able to understand how to calculating a net present value or discounted value will be helpful.

  • What will students learn in your course?

    Students will be able to determine the intrinsic / real value of a company using cash flow to the firm & equity methods but also understand which valuation methods apply depending on the maturity stage of the company. Students will be equipped with the main company valuation methods (asset based valuation methods, going concern valuation methods, relative valuation methods) and understand the differences between absolute & relative valuation methods.

  • Who is this course for?

    Investors wanting to develop in-depth knowledge on company valuation and applying those methods to VC, PE and public equity companies. This course is useful for novice company appraisers.