Valuation: Measuring and Managing the Value of Companies

A textbook-style guidebook on value creation from growth and ROIC, and building different types of DCF models. One of the best books out there about value creation. Provides step-by-step guidance on building models and reorganizing financial statements. Perfect for those who wants to further their valuation skills & techniques, or wants to learn about value creation for their company. Not a beginner’s guide, should at least have basic financial knowledge

Very happy with my purchase

Excellent publication.

I've read a large number of books on finance and valuation, text books included, but the way the authors walk through the Costco case study throughout the book was/is fantastic. I took each of the chapters and built a model, so the usefulness of the book, in theory and in practice, has been outstanding for me

I wanted a book that explains how to value stocks. I didn’t want a book that glosses over how it’s done. Perhaps it didn’t need over 800 pages, and there’s repetition. Readers like me who’ve never had a finance class may have to read it slowly. Occasionally values in tables appear without explaining formulas used. The formulas and rigor increases with each new chapter. The biggest drawback is offering for sale an expensive spreadsheet sold separately rather than included. I’ll try making my own after reading the whole book.

It’s an operative book mainly focused on Discounted Cash Flow valuation. Various economic sectors are reported for a comprehensive visioning of different aspects in valuation processing ( bank, insurance, industrial, etc) . Suggested for easy understanding of the subjects from ratios to performance indexes , CF from operation/investing/financing, growth concepts, etc. Worth the price. Hard cover Exist also a version with possibility of accessing to excel spreadsheets.

Overall, this is a very useful book. It's intended for people already familiar with basic accounting principles and financial statement analysis. By reading the book the reader can learn the parts of the financial statement to focus on to spot malfeasance. My only complaint is that some chapters are a bit repetitive and some of the examples of real-world financial chicanery are dated.

This is the premier book on valuation for investors, managers and board members. A thorough presentation of DCF applications in context of various companies and markets. Not a quick read but each example contains a ton of scenarios that show the effects of the theory presented making the analysis come to life. Excellent book!!!

Great book that’s an authority in its field

An excellent book for any recommendation.

excellent condition!!!

I'm giving it a 5 because it is a thorough resource and it's not too difficult to follow. I like the language and approach in this book vs Damodarans, although I like studying his content too. I took business as my undergrad over 10 years ago, haven't been studying anything related since then. With that as my base, I'm able to understand and apply the content in this book with a moderate effort- there's a lot of nuance and relating the terminology used from one source is often very different from the terminology in other sources. A lot of specifics are included, I'm mainly interested in the value of businesses for investment purposes. For that, this is quite comprehensive, it explains how mainly growth, return on invested capital and free cash flow drive the future success of an enterprise. Many methods are included to elaborate on these elements and how to use them to calculate a businesses value. I do wish the book was streamlined a bit better. I find myself flipping all throughout the book for content I'd expect to see more grouped in one area. Bottom line it is a solid book/resource on understanding and applying valuation principles to businesses.

It expensive but good and tough read ,Go for it, if you can afford it and can understand the technical equation in finance.