Corporate Finance & Valuation

The three decisions a company makes with money, and what it is trying to maximise.

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  How Capital Allocation Affects Long-Term Firm Value

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What is being discounted. Growth, reinvestment, margin and return on capital.

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  How to Normalise Earnings and Cash Flow for Valuation

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The denominator. Risk-free rate, equity risk premium, country risk, beta and the weighted average.

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  How to Estimate a Cost of Capital When There Is No Share Price

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The financing decision. What the mix costs, what it constrains and when it becomes distress.

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  How to Analyse a Company’s Capital Structure

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  How Leverage Can Increase and Reduce Equity Value

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The investment decision. Which projects clear the bar, and where the rules disagree.

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  How to Resolve NPV and IRR Conflicts: The Crossover Rate

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The map of valuation. The approaches, what each assumes, and the bridge between firm and equity.

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  How to Build a DCF Valuation: The Seven Choices That Decide It

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  How to Build a Sum-of-the-Parts Valuation

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  How to Build a Valuation Sensitivity Table

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The intrinsic method, built step by step from normalisation to terminal value.

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  How to Forecast Free Cash Flow: Five Lines That Must Agree

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  How to Audit a DCF Model: Four Defects and Where to Find Them

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The market method. Peers, multiples and which one a business deserves.

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  How to Select Comparable Companies: A Repeatable Six Step Screen

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Valuation when control changes hands. Deal value, sources and uses, accretion, the LBO.

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  How to Analyse Accretion and Dilution, Step by Step

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  How to Build an LBO Returns Model, Year by Year

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The judgement layer. Turning a range into an answer without pretending to precision.

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  How Valuation Ranges Improve Decision Discipline

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  How to Check Discount Rate Consistency in a Valuation

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