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Thursday, May 14, 2020 | History

8 edition of Equity valuation found in the catalog.

Equity valuation

Jan Viebig

Equity valuation

models from leading investment banks

by Jan Viebig

  • 311 Want to read
  • 9 Currently reading

Published by John Wiley & Sons in Chichester, West Sussex, England, Hoboken, N.J .
Written in

    Subjects:
  • Stocks -- Mathematical models,
  • Portfolio management -- Mathematical models,
  • Valuation -- Mathematical models,
  • Investment analysis -- Mathematical models

  • Edition Notes

    Includes bibliographical references and index.

    StatementJan Viebig, Armin Varmaz, and Thorsten Poddig.
    SeriesThe Wiley finance series
    ContributionsVarmaz, Armin., Poddig, Thorsten.
    Classifications
    LC ClassificationsHG4661 .V54 2008
    The Physical Object
    Paginationp. cm.
    ID Numbers
    Open LibraryOL18299141M
    ISBN 109780470031490
    LC Control Number2008002738

    The Market to Book ratio, or Price to Book ratio, is used to compare the current market value or price of a business to its book value of equity on the balance sheet. Market value is the current stock price times all outstanding shares, net book value is all assets minus all liabilities. The ratio tells us how much. The book valuation technique is usually used as a method of cross-testing the more common technique of applying multiples to EBITDA, cash flow, or net earnings. In a book I published written by Russell Robb, Buying Your Own Business, he identified several situations where the use of book value as the primary method of valuation is prevalent.

      A detailed look at equity valuation and portfolio managementEquity valuation is a method of valuing stock prices using fundamental analysis to determine the worth of the business and discover investment opportunities.4/5(4). Justified Price-to-book multiple. The justified price-to-book multiple or justified P/B multiple is a P/B ratio based on the company’s fundamentals. The justified P/B ratio is based on the Gordon Growth uses the sustainable growth relation and the observation that expected earnings per share equal book value times the return on equity.

    Market value of equity is the total dollar value of a company's equity calculated by multiplying the current stock price by total outstanding shares. A company's market value of equity is therefore always changing as these two input variables change. Market value of equity is a synonym for market capitalization. Equity Valuation and Analysis closes the gap between the theoretical treatment of equity valuation and the actual practice of valuing a company. By using real companies and real data, students learn firsthand how compelling and relevant forecasting and valuation can : Russell Lundholm And Richard Sloan.


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Equity valuation by Jan Viebig Download PDF EPUB FB2

Equity Valuation for Analysts and Investors is the comprehensive guide to efficient financial statement analysis and model-building from one of the world-leading independent equity research firms, Argus Research/5(6). Equity Valuation: Models from Leading Investment Banks is a clear and reader-friendly guide to how today’s leading investment banks analyze firms/5(5).

This book spans the void between the abstract theoretical treatment of equity valuation and the practical problem of valuing an actual company using real-world data. We give serious treatment to the underlying theory of financial analysis and valuation, but our main goal is to be able to arrive at a pragmatic answer to the important question Cited by: This book is a collection of the equity valuation readings from the CFA Level II exam material.

It does not include any readings from Level I or III. This is understandable as the Level I equity valuation topics merely introduce the tools of equity analysis/5(18). What is Book Value of Equity.

#1 – Owners Contribution (Common Stock & Additional Paid in Capital) Common Stock is #2 – Treasury Shares. At times companies buy back some of the floating shares as part #3 – Retained Earnings.

This is the portion of the company profit has not been paid off. This private equity book is a package that covers the top three parts of the finance industry.

The author very carefully explains how investment banking, hedge funds, and private equity dominate the market along with the investor’s investments and money-making.

He also covers the strategies of coming back from these sectors after   A market value greater than book value: When the market value exceeds the book value, the stock market is assigning a higher value to the company due to the potential Equity valuation book it and its assets' earnings power.

It indicates that investors believe the company has excellent future prospects for growth, expansion. Named by Bloomberg Businessweek as one of America's top business school instructors, he teaches courses on corporate valuation and private equity at the MBA and executive MBA levels.

David is also a director in Wharton's executive education group, serving on the executive development faculties of several Fortune companies. Key Takeaways Book value of equity per share indicates a firm's net asset value (total assets - total liabilities) on a per-share basis.

When a stock is undervalued, it will have a higher book value per share in relation to its current stock price in the market. The measure is used mainly by stock. Equity Asset Valuation, Third Edition is a comprehensive, updated text that guides you through the information you need to know to fully understand the general analysis of equity investments.

Equity valuation is a method of valuing stock prices using fundamental analysis to determine the worth of the business and discover investment opportunities. In Equity Valuation and Portfolio Management Frank J.

Fabozzi and Harry M. Markowitz explain the process of equity valuation, provide the necessary mathematical background, and discuss Cited by: 5. The paper develops and analyzes a model of a firm's market value as it relates to contemporaneous and future earnings, book values, and dividends.

Two owners' equity accounting constructs provide the underpinnings of the model: the clean surplus relation applies, and dividends reduce current book value but do not affect current by: Equity valuation methods can be broadly classified into balance sheet methods, discounted cash flow methods, and relative valuation methods.

Balance sheet methods comprise of book value, liquidation value, and replacement value methods. Discounted cash flow methods include dividend discount models and free cash flow models. The value of a security or asset is going to depend crucially on the asset pricing model we choose.

(As we shall see next, the effect is through the appropriate discount rate.) 4. The most common kind of valuation problem is equity valuation. (Although we focus on the market for equities, the valuation models described below are applicable toFile Size: 57KB.

The main purpose of equity valuation is to estimate a value for a firm or its security. A key assumption of any fundamental value technique is that the value of the security (in this case an equity or a stock) is driven by the fundamentals of Author: Ryan Fuhrmann.

For healthy companies, equity value far exceeds book value as the market value of the company’s shares appreciates over the years.

Equity value is always greater than or equal to zero as both the share price and the number of shares outstanding can never be negative. Book value can be positive, negative, or zero. Private Equity Valuation. Download the full reading (PDF) Available to members. Introduction.

Private equity is playing an increasing role in the global economy. In the last decade, private equity has grown from a small, niche activity to a critical component of the financial system. One manifestation of this has been the huge amount of money. Equity Value and Enterprise Value are technical topics that almost every would-be investment banker gets wrong.

So much so, that if I were giving a rigorous technical test to IB/PE interview candidates, I would base % of my questions on these two concepts. Because there are so many terrible explanations that questions based on Equity Value. Price-to-book value (P/B) is the ratio of market value of a company's shares (share price) over its book value of equity.

The book value of equity, in turn, is the value of a company's assets expressed on the balance : Ben Mcclure. Chapter 1 Equity Valuation: Applications and Processes 5 Applying valuation conclusions depends on the purpose of the valuation. In performing valuations, analysts must hold themselves accountable to both standards of competence and standards of Size: KB.

Defining Book Value of Equity Book value of equity is an estimate of the minimum shareholders' equity of a company. Put another way, if a company were to close its doors, sell its assets and pay off its debts, the book value of equity is theoretically the amount that would remain to be divided up among the : William Adkins.The Equity Valuation Process 1.

Learning Outcomes 1 1Introduction 2 2 The Scope of Equity Valuation 3 Valuation and Portfolio Management 5 3 Valuation Concepts and Models 6 The Valuation Process 6 Understanding the Business 7 Forecasting Company Performance 9 Selecting the Appropriate Valuation Model 15File Size: 1MB.o Residual Price based on 1.) Infinite Horizon DDM 2) P/E Multiples 3) Px to Book ratio 4) Asset Value - Infinite Horizon DDM o 1) Constant Growth DDM 2) two-stage DDM 3) three-stage DDM - Discounted Free Cash Flow to Equity o 1) Constant Growth Discounted FCFE Model 2) two-stage Discounted FCFE Model 3) three-stage Discounted FCFE Model.