On-site

Effective Business Valuation Methods and Tools

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Length
2 jours

    Contact us to find out upcoming dates executiveeducation@hec.ca

  • Migration de donnée

    • Migration de donnée

  • Downtown

Rate
$2,195
$2,195
Language

French

Contact an advisor
Nadia Uria-Fernandez
Program Manager

Email | Phone

The purpose of this accounting seminar is to introduce you to key business valuation approaches with emphasis on the discounted cash flow method. This will include a closer look at the multiples methods and accounting valuation, as well as real options valuation.

You will quickly master various electronic tools and vital concepts required to obtain an accurate business valuation. You will also be called upon to use your judgment to ask – and answer – relevant questions as part of the valuation process.

GOALS

  • Learn powerful business valuation methods to be able to:

    - Foresee the consequences of a strategic shift on the company’s value.

    - Determine the maximum acquisition price or minimum sale price of a company.

    - Assess the company’s fair market value.

    - Fund a corporate acquisition.
  • Ascertain how to estimate main valuation parameters.
  • Recognize the benefits and limitations of each method.

IS THIS FOR YOU?

This program is for you if:

  • You are called upon to take part in the business valuation process.

SPECIAL FEATURES

  • Topics of discussion will be determined based on needs voiced by participants.

Introduction to business valuation methods

  • Valuation parameters and available data
  • Caveats

Discounted cash flow method

  • Estimation of cash flow based on financial statements
  • Free cash flow to firm vs. free cash flow to equity
  • Choice of forecast horizon
  • Growth and risk assessment
  • Calculation of discount rate
  • Continuity value
  • Surplus assets

Multiples methods

  • Price-to-earnings (P/E) ratio, price-to-book (P/B) ratio, price-to-sales (P/S) ratio
  • Sources of information and choice of comparables
  • Factors that influence multiples

Accounting valuation

  • Tools for calculating adjusted book value
  • Tips for valuating brands and other intangible assets
  • Goodwill in the valuation process

Choice of methods and adjustment in line with specific circumstances 

Depending on participants’ individual needs, several themes can also be addressed, including:

  • Publicly traded vs. privately held business: Liquidity premium vs. control premium
  • Venture capital investment: Limited horizon
  • Natural resources and high-tech sectors, where a third method may be useful, namely real options valuation

TRAINING APPROACH

  • Real-life case studies
  • Examples
  • Computer usage
  • Laptop computers will be available for use by seminar participants.
  • Participants will be given a set of Excel files to illustrate the featured concepts and methods.
Julien Le Maux

PhD, MSc (Finance), CFE, C.Adm.

Professor, HEC Montréal

On-site

Effective Business Valuation Methods and Tools

The purpose of this accounting seminar is to introduce you to key business valuation approaches with emphasis on the discounted cash flow method. This will include a closer look at the multiples methods and accounting valuation, as well as real options valuation.

You will quickly master various electronic tools and vital concepts required to obtain an accurate business valuation. You will also be called upon to use your judgment to ask – and answer – relevant questions as part of the valuation process.

Presentation Program Instructors

GOALS

  • Learn powerful business valuation methods to be able to:

    - Foresee the consequences of a strategic shift on the company’s value.

    - Determine the maximum acquisition price or minimum sale price of a company.

    - Assess the company’s fair market value.

    - Fund a corporate acquisition.
  • Ascertain how to estimate main valuation parameters.
  • Recognize the benefits and limitations of each method.

IS THIS FOR YOU?

This program is for you if:

  • You are called upon to take part in the business valuation process.

SPECIAL FEATURES

  • Topics of discussion will be determined based on needs voiced by participants.

Introduction to business valuation methods

  • Valuation parameters and available data
  • Caveats

Discounted cash flow method

  • Estimation of cash flow based on financial statements
  • Free cash flow to firm vs. free cash flow to equity
  • Choice of forecast horizon
  • Growth and risk assessment
  • Calculation of discount rate
  • Continuity value
  • Surplus assets

Multiples methods

  • Price-to-earnings (P/E) ratio, price-to-book (P/B) ratio, price-to-sales (P/S) ratio
  • Sources of information and choice of comparables
  • Factors that influence multiples

Accounting valuation

  • Tools for calculating adjusted book value
  • Tips for valuating brands and other intangible assets
  • Goodwill in the valuation process

Choice of methods and adjustment in line with specific circumstances 

Depending on participants’ individual needs, several themes can also be addressed, including:

  • Publicly traded vs. privately held business: Liquidity premium vs. control premium
  • Venture capital investment: Limited horizon
  • Natural resources and high-tech sectors, where a third method may be useful, namely real options valuation

TRAINING APPROACH

  • Real-life case studies
  • Examples
  • Computer usage
  • Laptop computers will be available for use by seminar participants.
  • Participants will be given a set of Excel files to illustrate the featured concepts and methods.
Julien Le Maux

PhD, MSc (Finance), CFE, C.Adm.

Professor, HEC Montréal

Testimonial(s)

"Excellent course! Very satisfied."

- Danielle Boudreau, Business Development Analyst, Société Radio-Canada

"Extremely interesting, albeit intense. Very useful for understanding the tools and principles of business valuation."

- Marc Tremblay, President, Groupe Proficom MT

“Very good seminar, the information and examples given are very relevant. I highly recommend this training and this teacher."

- Éric Boulard, President, EB Groupe Conseil
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