Valuation: Measuring and Managing the Value of Companies by McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels |, Multimedia | Barnes & Noble
Valuation: Measuring and Managing the Value of Companies / Edition 4

Valuation: Measuring and Managing the Value of Companies / Edition 4

3.4 8
by McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels
     
 

ISBN-10: 047170217X

ISBN-13: 9780471702177

Pub. Date: 04/22/2005

Publisher: Wiley

VALUATION

DCF Model, CD-ROM

FOURTH EDITION

  • Updated spreadsheet models compatible with Excel 2004
  • Contains models and reports for valuing projected performance
  • Model completes computations automatically—promoting error-free analysis

Valuation, Fourth Edition, CD-ROM is filled with expert guidance as well as a valuation

Overview

VALUATION

DCF Model, CD-ROM

FOURTH EDITION

  • Updated spreadsheet models compatible with Excel 2004
  • Contains models and reports for valuing projected performance
  • Model completes computations automatically—promoting error-free analysis

Valuation, Fourth Edition, CD-ROM is filled with expert guidance as well as a valuation model developed by McKinsey's own finance practice. The Valuation DCF Model contains preformatted financial statements and analytical reports for evaluating performance and valuing projected performance using both the enterprise DCF and economic profit approaches described throughout Valuation, 4th Edition. The model ensures that all-important measures, such as return on investment capital and free cash flow, are calculated correctly so that you can focus on analyzing a company's performance instead of worrying about computational errors. The model follows the three-period forecast methodology, comprising five years of detailed forecasts, ten years of summarized key driver forecasts, and a continuing value period.

With this companion CD-ROM as your guide, you can use the Valuation DCF Model to value real companies, in real-world situations or to practice the art and science of valuation in the classroom.

Product Details

ISBN-13:
9780471702177
Publisher:
Wiley
Publication date:
04/22/2005
Series:
Wiley Finance Series, #334
Edition description:
CD-ROM
Pages:
739
Product dimensions:
5.30(w) x 7.50(h) x 0.60(d)

Table of Contents

About the Authors ix

Preface xi

Acknowledgments xv

Part One Foundations of Value

1 WhyValueValue? 3

2 Fundamental Principles of Value Creation 17

3 Conservation of Value and the Role of Risk 35

4 The Alchemy of Stock Market Performance 49

5 The Stock Market Is Smarter Than You Think 65

6 Return on Invested Capital 93

7 Growth 115

Part Two Core Valuation Techniques

8 Frameworks for Valuation 135

9 Reorganizing the Financial Statements 165

10 Analyzing Performance 201

11 Forecasting Performance 221

12 Estimating Continuing Value 247

13 Estimating the Cost of Capital 269

14 Moving from Enterprise Value to Value per Share 301

15 Analyzing the Results 321

16 Using Multiples 331

17 Valuation by Parts 353

Part Three Advanced Valuation Techniques

18 Taxes 373

19 Nonoperating Items, Provisions, and Reserves 387

20 Leases and Retirement Obligations 405

21 Alternative Ways to Measure Return on Capital 423

22 Inflation 445

23 Cross-Border Valuation 459

24 Case Study: Heineken 481

Part Four Managing for Value

25 Corporate Portfolio Strategy 525

26 Performance Management 543

27 Mergers and Acquisitions 565

28 Divestitures 593

29 Capital Structure, Dividends, and Share Repurchases 611

30 Investor Communications 643

Part Five Special Situations

31 Emerging Markets 667

32 Valuing High-Growth Companies 691

33 Cyclical Companies 705

34 Banks 713

35 Flexibility 741

Appendix A Discounted Economic Profit Equals Discounted Free Cash Flow 775

Appendix B Derivation of Free Cash Flow, Weighted Average Cost of Capital, and Adjusted Present Value 781

Appendix C Levering and Unlevering the Cost of Equity 787

Appendix D Leverage and the Price-to-Earnings Multiple 795

Appendix E Other Capital Structure Issues 799

Appendix F Technical Issues in Estimating the Market Risk

Premium 805

Index 809

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