- Business valuation - Share value - Mastering company valuation and earn-out methods M&A transaction pricing Principles of share valuation (dividends, PER, payout ratio) Mastering equity engineering
- Financial profitability (ROE) and leverage - ROE (return on equity) - Return on equity - DPS (dividend per share) - Payout ratio - TSR (total share return) - leverage - leverage effect Revenues (sales) - Sales recognition - Contract analysis - Performance obligation - Price allocation
- Financial risks: counterparty, liquidity, interest rate, foreign exchange, equity - Analysis, valuation, risk mapping and hedging strategy: - Counterparty risk: financial analysis and mastering rating practices (internal, external) - Liquidity risk: ALM and group cash flow forecasts - Interest-rate risk: TF and TV loans, bond issues - Foreign exchange risk: exports, imports, hedging - Equity risk: dividends, share acquisitions and disposals, dealing room) - Project & (dis)investment risk Master the identification and valuation of financial and non-financial risks
- Securities and financial markets - Notions of cost of money, liquidity, inflation, capitalization, discounting, interest calculations, actuarial calculations
- Mergers & Acquisitions Transaction - Master the implementation of acquisition/disposal processes (letter of intent, due diligence, acquisition and dataroom audits, binding offer, negotiation, closing) - Understand the transaction environment: negotiation, financial and regulatory environment
Specialization
Target audience
- Internal auditors
- Bankers / account managers
- Financial directors and controllers
- Chartered accountants, statutory auditors
- Members of M&A teams
- Finance, consolidation and accounting managers
- Treasurers
1 day
New training
Training in Financial Valuation
Prerequisites
It is necessary to be proficient in business valuation or to have completed the “Business Valuation” training course [FHEVAE].
Objectives
◗ Perform the key financial calculations required for business valuation.
◗ Incorporate risk and time value into valuation methods.
◗ Apply this knowledge to the various approaches to business valuation.
◗ Analyze specific cases of value creation.
Training program
◗ Structuring a professional assessment approach
– Different contexts: divestiture, acquisition, litigation, reorganization
– Economic concepts: value in use, market value, replacement value
– Economic assets, net debt, capital employed: definitions and adjustments
– Context and process: before the deal, during the deal, and after the deal
– Assessing the value of synergies
– Taking the Company’s Life Cycle Stage into Account
✔ UNDERSTAND | Illustration: Diagrams of Business Valuation Methods
✔ EVALUATE | Quiz: Validating Prerequisites with 12 Questions
◗ Applying the main valuation methods
– Overview of key financial metrics useful in valuation
– Revalued net assets, discounted cash flows (DCF), comparable multiples, options
– Cost of capital, WACC, sector beta, terminal value and associated risks, growth and reinvestment rates
– Strengths, limitations, and criteria for choosing between methods
✔ UNDERSTAND | Analysis: Comparative Chart of Valuation Approaches
✔ APPLY | Case Study: Value a Company Using 3 Methods and Compare the Results
✔ EVALUATE | Quiz: In your opinion… What lesson can be learned from comparing equity value to the market value of securities?
◗ Applying contextualized approaches to make assessment more reliable
– Restatement of rent, R&D, employee benefit obligations, IFRS 16
– Specific valuation methods: intangibles (brand, patent), separate business, securities (mergers & acquisitions), valuation of a startup or a company undergoing turnaround, net asset value, value of damages (in litigation)
– Market value of debt
✔ UNDERSTAND | Case study on restating R&D expenses in a real-world scenario
✔ APPLY | Practical exercise: Estimating intrinsic value based on provided information
✔ EVALUATE | Quiz: In your opinion… What time horizon should be used? What growth rate?
◗ Interpret results and add value in a context of uncertainty
– Developing a valuation range
– Incorporating synergies, control premiums, or minority premiums
– Accounting for variability and risk modeling using the Monte Carlo method
– Accepting or Rejecting a Valuation: Statistical Tests, Confidence Intervals, and Acceptable Error
✔ APPLY | Case Study: Accepting or Rejecting a Valuation Based on a Model
✔ EXPERIMENT | Taking a Step Back: 4 Key Habits in Valuation
✔ EVALUATE | Quiz: In Your Opinion… What Information Sources Should a Valuator Use?
Why choose this course?
The practice of financial analysis and business valuation requires an understanding of the mathematical foundations underlying the calculations—particularly as they relate to time and risk—and involves specific considerations tied to particular contexts.
This lively and dynamic module, designed in the style of a comic book, covers all the concepts—as well as their practical application in a spreadsheet environment—in just one day. Follow the storyline; it will guide you to the actuarial Holy Grail!
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of teaching methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: theoretical concepts are alternated with examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Training monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
1 295 € EXCL. TAX
Testimonials
Financial mathematics training
Financial mathematics training
Financial mathematics training
Jonathan C.
Company
Training