Damodaran on Valuation_ Security Analysis for Investment and Corporate Finance ( PDFDrive )

Youshouldplayan activeroleindeciding which multiple shouldbeusedtovalueacompanyandwhatfirms willbe viewedascomparablefirms.Secon ...

by using theone multiple thatis best suited forthe firm. There are three ways in which we can find this multiple. 1.Thefundament ...

Cyclical manufacturing P/E, relative P/E Often with normalized earnings. High tech, high growth P/E to growth (PEG) Big differen ...

multipleusedinthesector.Infact,whenthemultipleinuse conventionally does not reflect fundamentals, which can happenifthesectorisi ...

narrowly focused on your sector and make judgments on whichstocksareunder-orovervalued,youshouldstickwith sector-basedrelativeva ...

As aninvestor,wecanuse bothdiscountedcash flowand relativevaluationtovalueacompany.Optimally,wewould like to buy companies that ...

firm in question—this can come from legal restrictions on competition or a significant competitive edge. Donotdoublecountoption ...

modelsmorefeasible,thereismuchto besaid infavor of simpler models that require fewer inputs. 3.Respectthebasiclawsofeconomics.Th ...

everyfirmthatisvalued,butitwillbeimpossibletoseparate howmuchoftheresultcanbeattributedtoviewsaboutthe firm and how much to macr ...

absolute rules, and it goes without saying that blindly following a model orequation willalmost always lead to disaster.Acombina ...

Index Abandonment option Accelerated depreciation Accountability Accountants, functions of Accounting,seeAccounting practices/st ...

Accounts receivable Accretive merger Acquiring firms,seeAcquisition(s); Mergers; Synergy valuation Acquisition(s): characteristi ...

Active investments Active investors Activist investors Activity variables Actual returns Adjusted present value (APV) Adobe Syst ...

Alloy Mills Amazon AmBev Ambiguity American depositary receipts (ADRs) American Express American options American Stock Exchange ...

recommendations simulations skeptical subjective judgments technical Andres Wines, Ltd. Anheuser-Busch Announcements, market rea ...

Appraisers, functions of Arbitrage Arbitrage pricing model (APM) Arithmetic average returns Arithmetic growth rate Art collectio ...

turnover utilization Asset-based valuation Asset pricing models Assumptions, types of At-the-money options AT&T Audit commit ...

Bank of America, Security Pacific acquisition Bankruptcy: characteristics of costs distressed firms and possibility of potential ...

illiquidity discounts Berkshire Hathaway Best-case estimates Best-case scenarios Beta: accounting bottom-up capital structure an ...

equity multiples estimation growth rate and fundamental historical market illiquidity discount levered liquidity market regressi ...