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Valuation Training with
Prof. Aswath Damodaran

About Prof. Damodaran

Prof. Aswath Damodaran is the Kerschner Family Chair Professor of Finance at the Stern School of Business at New York University. Over decades he has created and helped shaped the field of valuation.

In our past trainings with him all our participants were enthusiastic with the motivating and dynamic method of delivery as well as the personal interaction.

He received his MBA and PhD from the University of California at Los Angeles. He teaches the corporate finance and valuation courses in the MBA and executive programs. Being at NYU since 1986 he has received the Stern School of Business Excellence in Teaching Award. His research interests lie in valuation, portfolio management and applied corporate finance. He has published papers in the Journal of Financial and Quantitative Analysis, the Journal of Financial Economics and the Review of Financial Studies. He has published several books on valuation and corporate finance.

Reasons to Take This Program

Comprehensible

Experience or take a refresher in valuation in-depth – made comprehensible by one of the world’s best and motivating instructors on valuation.

Network

Network with your peers and industry professionals that face similar challenges when it comes to valuation. A great opportunity to meet old colleagues and make new contacts during this program. In addition we provide access to our global network of other participants from past trainings as well.

Continued Education

Invest in your continued education! Various professional associations accept this training as Continued Education. Take this training as a stand-alone or have it count towards the completion of our IM&A Certificate and M&AP Certificate programs.

Prof Damodaran live

Reading books or watching videos is nothing like experiencing and enjoying Prof. Damodaran in the room teaching and interacting with you in person.

Great value

As we are a non-profit research organization, we offer this training at a very affordable fee – great value for money.

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Cover for Mergers & Acquisitions Certificate Programs and Valuation Trainings
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Objectives:

The objective of the training is to provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each. At the end of the seminar, participants should be able to:

    • Value any kind of firm in any market, using discounted cash low models (small and large, private and public)
    • Value a firm using multiples and comparable firms
    • Analyze and critique the use of multiples in valuation
    • Value “problem” firms, such as distressed companies or start ups
    • Estimate the effect on value of restructuring a firm

Who Attends:

The mix of valuation techniques and applications provided in this training has attracted a widely diverse audience in our past trainings. In particular, it is useful for

      • Chief Executive Officers, Board Members and Business Owners
      • Chief Financial Officers and Other Corporate Financial Staff
      • Head of Business Development, Strategy and M&A
      • Chartered Accountants, Investment Bankers and  Management Consultants
      • Equity Research Analysts
      • Portfolio Managers
      • Business Angels, Venture Capital, Private Equity, and Family Offices

Couse Syllabus

Day 1

      • The Discounted Cash Flow Model
      • Setting up the Model
      • The Big Picture of DCF Valuation
      • Valuation Examples
      • The Discount Rate Question
      • Risk premiums and Betas
      • The Cost of Debt
      • Estimating Cash Flows
      • Estimating Growth Rates
      • Estimating Growth Patterns
      • The Terminal Value
      • Closing Thoughts on DCF valuation

Day 2

      • Cash, Cross holdings and other assets
      • The Value of Control, Synergy and Transparency
      • The Liquidity Discount
      • Employee Stock Options Challenges in Valuation
      • Valuing young, growth companies
      • Valuing mature companies in transition
      • Valuing declining and distressed companies
      • Valuing cyclical companies
      • Valuing commodity companies
      • Valuing financial service companies
      • Valuing private businesses
      • Relative Valuation
      • Deconstructing multiples
      • Comparable company valuation
The objective of the training is to provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each. At the end of the seminar, participants should be able to:

      • Value any kind of firm in any market, using discounted cash low models (small and large, private and public)
      • Value a firm using multiples and comparable firms
      • Analyze and critique the use of multiples in valuation
      • Value “problem” firms, such as distressed companies or start ups
      • Estimate the effect on value of restructuring a firm
The mix of valuation techniques and applications provided in this training has attracted a widely diverse audience in our past trainings. In particular, it is useful for

      • Chief Executive Officers, Board Members and Business owners who are valuating their business for public offering, sale or other reasons.
      • Chief Financial Officers and other corporate financial staff, who want to understand the details of valuation, either because they are planning acquisitions or are interested in value enhancement strategies for their firms.
      • Head of Business Development, Strategy and M&A and other employees involved in  these activities.
      • Chartered Accountants, Investment Bankers and  Management Consultants involved in mergers and acquisitions, who would like to acquire a wider repertoire of valuation skills.
      • Equity research analysts, who are interested in examining alternatives to the multiples that they use or the linkage to discounted cash flow models.
      • Portfolio Managers who are interested in the effects of corporate restructuring on firm value, and the implications for portfolio management.
      • Investors such as Business Angels, Venture Capital, Private Equity, and Family Offices.
      • Course materials & presentations
      • Refreshment breaks & lunch
      • Certificate from the Institute for Mergers, Acquisitions and Alliances signed by Prof. Damodaran
      • Travel Discounts
Day 1

Topics on the first day of the training are:

      • The Discounted Cash Flow Model
      • Setting up the Model
      • The Big Picture of DCF Valuation
      • Valuation Examples
      • The Discount Rate Question
      • Risk premiums and Betas
      • The Cost of Debt
      • Estimating Cash Flows
      • Estimating Growth Rates
      • Estimating Growth Patterns
      • The Terminal Value
      • Closing Thoughts on DCF valuation
Day 2
On the second day, the following issues in valuation are explored:
      • Cash, Cross holdings and other assets
      • The Value of Control, Synergy and Transparency
      • The Liquidity Discount
      • Employee Stock Options Challenges in Valuation
      • Valuing young, growth companies
      • Valuing mature companies in transition
      • Valuing declining and distressed companies
      • Valuing cyclical companies
      • Valuing commodity companies
      • Valuing financial service companies
      • Valuing private businesses
      • Relative Valuation
      • Deconstructing multiples
      • Comparable company valuation
Day 1
08.00 am – 08.30 am Registration
08:30 am – 10:00 pm Opening & Session 1
10.00 am – 10:30 pm Coffee & Tea Break
10:30 am – 12:00 pm Session 2
12:00 pm – 01:00 pm Lunch Break
01.00 pm – 02.30 pm Session 3
02.30 pm – 03.00 pm Coffee & Tea Break
03.00 pm – 04.30 pm Session 4

Day 2
08:30 am – 10:00 pm Session 5
10.00 am – 10:30 pm Coffee & Tea Break
10:30 am – 12:00 pm Session 6
12:00 pm – 01:00 pm Lunch Break
01.00 pm – 02.30 pm Session 7
02.30 pm – 03.00 pm Coffee & Tea Break
03.00 pm – 04.30 pm Session 8 & Closing

About the Valuation Training

Other Testimonials

For an impression from event in Vienna, please watch the video on the left side. For some additional statements about this and other programs, please have a look at our testimonials and company reference section

Upcoming Trainings with Prof. Damodaran

Warsaw, Poland
7 & 8 February 2019

London, UK
28 & 29 March 2019

Melbourne, Australia
29 & 30 August 2019

Paris, France
9 September 2019

Amsterdam, Netherlands
10 & 11 September 2019

Hamburg, Germany
12 & 13 September 2019

Shanghai, China
14 & 15 October 2019

Past Trainings

Ho Chi Minh City, Vietnam
August 2018

Warsaw, Poland, June 2018

Valuation Training in Munich

Munich, Germany, November 2017