Equity Valuation II
About the Lecture
The lecture Equity Valuation II by Edu Pristine is from the course Archiv - Equity Investments. It contains the following chapters:
- Multiplier Models
- Earnings per share and earnings multiplier
- Price/Earnings Ratio
- Price/Book Value Ratio
- Price/Sales Ratio
- Price/Cash Flow Ratio
- Enterprise Value
- Asset Based Valuation
- Critiques of Valuation Models
Author of lecture Equity Valuation II
Edu Pristine
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Excerpts from the accompanying material
... equity and distinguish between multiples based on comparables versus multiples based on fundamentals ...
... Limitations "Price multiple - definition" Common examplesPrice to Earnings - P/EPrice to Book - P/B ...
... Example "Price multiple based on fundamentals" - Definition Justified multiple Example - justified P/E ...
... P/S Price to Cash Flow - P/CF Price multiple by comparables ...
... case of price multiplesbased on fundamentals A. P/E based on fundamentals is also referred to as justified P/E. ...
... Calculate and interpret the following multiples: price to earnings, price to an estimate ...
... Equation Imp "Trailing P/EDefinition Equation" ...
... value vs. EPS "NAVs" Liquidating companiesWhy Not? "Intangibles" Different asset intensity "Accounting distortion" Inflation ...
... Book Value = Total Assets Total Liabilities Pref. stock Tangible ...
... BV and Sales "manipulation" volatility Cyclical stocksWhy not ? "Sales vs. profit" Cost structures ...
... Net Income + Depreciation + Amortization - Adjusted CFO = CFA + [(Net cash interest outflow)*(1 - tax rate) Free Cash flow to Equity (FCFE) = PAT + non-cash charges ...
... Equity/Total Sales Used when both earnings and book value are negative. P/S Market Value of Equity/Total Sales used when both earnings and book ...
... value ratio (P/BV) is a helpful valuation technique when examining ...
... structure E /EB EV = market capitalization + market value of preferred stock + market value of debt ...
... 9 and 9.5 respectively, where EV represents the Enterprise value of the firm. Then compared to firm X, firm Y is:A. Overvalued B. Undervalued C. ...
