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Valuation : measuring and managing the value of companies / by Tim Koller, Marc Goedhart and David Wessels

By: Koller, Tim | McKinsey & Company.
Contributor(s): Goedhart, Marc | Wessels, David.
Publisher: Hoboken, N.J. : Wiley, 2020Edition: 7th ed.Description: electronic resource.ISBN: 9781119612469.Subject(s): Companies | Valuations | Capital marketsOnline resources: Download as an eBook
Contents:
FOUNDATIONS OF VALUE: Why value value? What does it mean to create shareholder value? Finance in a nutshell -- Fundamental principles of value creation -- Risk and the cost of capital -- The alchemy of stock market performance --Valuation of ESG and digital initiatives - The stock market is smarter than you think --Returns on invested capital -- Growth -- Frameworks for valuation -- Reorganising the financial statements -- Analysing performance -- Forecasting performance -- Estimating continuing value --Estimating the cost of capital -- Moving from enterprise value to value per share --Analysing the results --Using multiples -- Valuation of parts. ADVANCED VALUATION TECHNIQUES: Taxes -- Nonoperating items, provisions, and reserves -- Leases -- Retirement obligations -- Measuring performance in capital-light businesses --Alternative ways to measure return on capital -- Inflation -- MANAGING FOR VALUE: Corporate portfolio strategy -- Strategic management - analytics -- Strategic management - mindsets and behaviours --Mergers and acquisitions -- Divestitures 1 -- Capital strucutre, dividends, and share repurchases -- Investor communications. SPECIAL SITUATIONS: Emerging markets -- High growth companies -- Cyclical companies -- Banks -- Flexibility -- APPENDICES: Discounted economic profit equals discounted free cash flow -- Derivation of free cash flow, weighted average cost of capital, and adjusted present value -- Levering and unlevering the cost of equity -- Leverage and the price-to-earnings multiple -- Other capital structure issues -- Technical issues in estimating the market risk premium -- Global, international, and local CAPM -- Valuation of Costco Wholesale -- Two-stage formula for continuing value.
Summary: Provides insights and comprehensive practical advice on how to create, manage and measure the value of an organisation.
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EBook EBook International
ProQuest eBook (Browse shelf) Link to resource eBook Available as an ebook here
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FOUNDATIONS OF VALUE: Why value value? What does it mean to create shareholder value? Finance in a nutshell -- Fundamental principles of value creation -- Risk and the cost of capital -- The alchemy of stock market performance --Valuation of ESG and digital initiatives - The stock market is smarter than you think --Returns on invested capital -- Growth -- Frameworks for valuation -- Reorganising the financial statements -- Analysing performance -- Forecasting performance -- Estimating continuing value --Estimating the cost of capital -- Moving from enterprise value to value per share --Analysing the results --Using multiples -- Valuation of parts. ADVANCED VALUATION TECHNIQUES: Taxes -- Nonoperating items, provisions, and reserves -- Leases -- Retirement obligations -- Measuring performance in capital-light businesses --Alternative ways to measure return on capital -- Inflation -- MANAGING FOR VALUE: Corporate portfolio strategy -- Strategic management - analytics -- Strategic management - mindsets and behaviours --Mergers and acquisitions -- Divestitures 1 -- Capital strucutre, dividends, and share repurchases -- Investor communications. SPECIAL SITUATIONS: Emerging markets -- High growth companies -- Cyclical companies -- Banks -- Flexibility -- APPENDICES: Discounted economic profit equals discounted free cash flow -- Derivation of free cash flow, weighted average cost of capital, and adjusted present value -- Levering and unlevering the cost of equity -- Leverage and the price-to-earnings multiple -- Other capital structure issues -- Technical issues in estimating the market risk premium -- Global, international, and local CAPM -- Valuation of Costco Wholesale -- Two-stage formula for continuing value.

Provides insights and comprehensive practical advice on how to create, manage and measure the value of an organisation.

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