Business valuation training

Prerequisites

You must have a solid grasp of the fundamentals of corporate finance or have completed the “Finance for Non-Financial Professionals – Level 1 and Level 2” courses [FHGEFI – FHGEF2] or the “Fundamentals of Corporate Finance ” e-learning course [FHBUMO].

Objectives

◗ Understand the fundamentals and applications of Enterprise Value.

◗ Distinguish between each evaluation method, from the targeting phase through to a company’s integration.

◗ Implement the various methods and their components.

Training program

◗ Understand the economic rationale behind business valuation

– Identify what is being valued: enterprise value and share value
– Take into account future prospects, expected profitability, and risks
– Distinguish between value, price, and cost: the seller’s, buyer’s, and investor’s perspectives
✔ UNDERSTAND | Illustration: diagram showing the transition from economic assets to share value
✔ PRACTICE | Group discussion: using financial statements—what sources of restatement?
✔ EVALUATE | Quiz: For each of these ratios, is there an optimal level and/or a threshold that should not be exceeded?

◗ Master the main valuation methods

– Asset-based approach: net assets and revalued net assets, net asset value
– Discounted cash flow (DCF) approach: rationale, assumptions, terminal value
– Relative valuation approach: multiples and comparables, P/E ratio, EBITDA
✔ UNDERSTAND | Comparative Analysis: Strengths and Limitations of Different Methods
✔ APPLY | Case Study: Calculating a Company’s Value Using NAV, DCF, and Multiples
✔ EVALUATE | Quiz: In your opinion… Which multiple should be prioritized in which context?

◗ Translating strategy into valuation assumptions

– Business model, growth, capex, changes in working capital: impact on cash flows
– Accounting for intangible assets
– Determining the discount rate (WACC, cost of equity, beta, etc.)
– Risks related to restatements, taxation, and non-financial factors
– Assessing the weight of terminal value and the risk associated with that value
✔ UNDERSTAND | Case Study: Breaking Down the Structure of a Valuation Business Plan
✔ APPLY | Practical Exercise: Testing the Sensitivity of a DCF to Changes in Interest Rates/Growth
✔ EVALUATE | Quiz: In your opinion… What does a terminal value greater than 80% of the present value mean?

◗ From value to price

– Understand the acquisition process and typical clauses in a SPA
– Compare different valuation approaches: analysis and synthesis
– Consider the buyer’s strategy
– Determine a reasonable price range for negotiations
✔ APPLY | Survey: Which valuation method is most relevant?
✔ EXPERIMENT | Case Study: Your Turn… Final Case
✔ EVALUATE | Quiz: In your opinion… What are the key clauses in a shareholders’ agreement regarding the transaction?

Why choose this course?

External growth is one of the key drivers for implementing a company’s strategy. In this context, evaluating the target company is essential for decision-making and conducting negotiations.

This training course helps participants understand how corporate acquisitions can help create value for shareholders.

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

business valuation training

Jonathan C.
Company
Training

Generalist trainings

Business valuation training