The art of company valuation and financial statement analysis : a value investor's guide with real-life case studies / Nicolas Schmidlin
- Author:
- Schmidlin, Nicolas
- Published:
- Chichester, West Sussex : John Wiley & Sons, 2014.
- Physical Description:
- xiv, 250 pages : illustrations ; 26 cm.
- Series:
- Wiley finance
- Contents:
- Machine generated contents note: 1.1.Importance and development of business accountancy -- 1.1.1.Limited significance of financial statements -- 1.1.2.Special features of the financial sector -- 1.2.Composition and structure of financial statements -- 1.2.1.Income statement -- 1.2.2.Balance sheet -- 1.2.3.Cash flow statement -- 1.2.4.Statement of changes in equity -- 1.2.5.Notes -- 2.1.Return on equity -- 2.2.Net profit margin -- 2.3.EBIT/EBITDA margin -- 2.4.Asset turnover -- 2.5.Return on assets -- 2.6.Return on capital employed -- 2.7.Operating cash flow margin -- 3.1.Equity ratio -- 3.2.Gearing -- 3.3.Dynamic gearing ratio -- 3.4.Net debt/EBITDA -- 3.5.Capex ratio -- 3.6.Asset depreciation ratio -- 3.7.Productive asset investment ratio -- 3.8.Cash burn rate -- 3.9.Current and non-current assets to total assets ratio -- 3.10.Equity to fixed assets ratio and equity and long-term liabilities to fixed assets ratio -- 3.11.Goodwill ratio -- 4.1.Days sales outstanding and days payables outstanding -- 4.2.Cash ratio -- 4.3.Quick ratio -- 4.4.Current ratio/working capital ratio -- 4.5.Inventory intensity -- 4.6.Inventory turnover -- 4.7.Cash conversion cycle -- 4.8.Ratios for order backlog and order intake -- 5.1.Circle of competence -- 5.2.Characteristics -- 5.3.Framework conditions -- 5.4.Information procurement -- 5.5.Industry and business analysis -- 5.6.SWOT analysis -- 5.7.Boston Consulting Group (BCG) analysis -- 5.8.Competitive strategy -- 5.9.Management -- 6.1.Dividend -- 6.2.Share buyback -- 6.3.Conclusion -- 7.1.Price-to-earnings ratio -- 7.2.Price-to-book ratio -- 7.3.Price-to-cash flow ratio -- 7.4.Price-to-sales ratio -- 7.5.Enterprise value approach -- 7.6.EV/EBITDA -- 7.7.EV/EBIT -- 7.8.EV/FCF -- 7.9.EV/sales -- 8.1.Discounted cash flow model -- 8.1.1.Equity approach -- 8.1.2.Entity approach -- 8.1.3.Adjusted-present-value (APV) approach -- 8.1.4.Operating and financial leverage -- 8.1.5.Alternative use of DCF models -- 8.1.6.DCF case studies -- 8.2.Valuation using multiples -- 8.2.1.Fair price-to-earnings ratio -- 8.2.2.Fair price-to-book ratio -- 8.2.3.Fair price-to-sales ratio -- 8.2.4.Fair enterprise value-to-EBIT ratio -- 8.2.5.Fair EV/sales -- 8.2.6.Multiple valuation: mathematical background -- 8.2.7.Liquidation approach/net-asset-value approach -- 8.3.Financial statement adjustments -- 8.3.1.Pro-forma statements and one-off effects -- 8.4.Overview of the valuation methods -- 9.1.Margin of safety approach -- 9.2.Value investing strategies -- 9.2.1.Quality investments -- 9.2.2.Cigarbutt investments -- 9.2.3.Net-nets/arbitrage -- 9.3.The identification of investment opportunities -- 9.4.Portfolio management -- 9.4.1.Diversification -- 9.4.2.Risk -- 9.4.3.Cash -- 9.5.Buying and selling: investment horizon -- 9.5.1.Buying -- 9.5.2.Selling -- 9.6.Conclusion.
- Summary:
- Is a given stock over or undervalued? How can the future prospects of a company be evaluated? How can complex valuation methods be applied in practice? The Art of Company Valuation and Financial Statement Analysis answers each of these questions and conveys the principles of company valuation in an accessible and applicable way. Valuation theory is linked to the practice of investing through financial statement analysis and interpretation, analysis of business models, company valuation, stock analysis, portfolio management and value Investing. The book's unique approach is to illustrate each valuation method with a case study of actual company performance.
- Subject(s):
- ISBN:
- 9781118843093 (hbk.)
1118843096 (hbk.) - Note:
- Includes index.
TEXTBOOK--PROF. ASSESSES VALUATION METHODS WITH CASE STUDIES. - Source of Acquisition:
- Purchased with funds from the Robert J. Nurock Libraries Endowment; 2014
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