Financial Statement & Business Analysis

2 days 18-19 Feb 2018, Dubai UAE £2,795.00 Download brochure Add to basket
2 days 30 Apr - 1 May 2018, London UK £2,795.00 + VAT* Download brochure Add to basket
2 days 8-9 Oct 2018, London UK £2,795.00 + VAT* Download brochure Add to basket
2 days 12-13 Nov 2018, Hong Kong Hong Kong $3,795.00 Download brochure Add to basket

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Overview

This course comprises three days of training in corporate valuation techniques, followed by an additional, optional two days of training that cover more advanced concepts. The two day foundation training course is designed to provide delegates


With an understanding of the following:

  • Financial analysis underlying corporate valuations
  • Valuation fundamentals
  • Multiple valuations
  • DCF valuations
  • Applying different valuation techniques using Excel


The subsequent two day training is designed to cover the following:

  • More advanced DCF techniques
  • The impact of capital structure on valuation
  • The impact of corporate finance transactions on valuation, including LBOs
  • Specific valuations eg. high growth, cyclical and distressed companies
  • Advanced financial analysis for corporate valuation

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London
Hong Kong
Sarah Martin

Former Executive Director of CSFB and Lehman Brothers, the Course Director has spent seventeen years working as an investment banker in Europe and the US. She has principally worked in the credit markets and has experience of the US and European high grade and high yield markets, the European new issue markets, the Asian convertible bond markets and of corporate restructurings of distressed credits. She specialised in the telecoms sector and was closely involved in the structuring, raising and/or trading of bank and public debt for telecoms companies in many countries, including Europe, South Africa, Asia and Latin America. She also has extensive experience of corporate finance transactions, including mergers, disposals, privatisations, IPOs and capital raisings. Until 2003, she was an Executive Director at Lehman Brothers in Fixed Income Research in London, having also worked for CS First Boston and Kleinwort Benson. She now works on an independent basis advising the legal and private equity professions on credit analysis and company valuation. She has a degree in economics from the London School of Economics and stock exchange qualifications from London and New York.

Dubai
Sarah Martin

Former Executive Director of CSFB and Lehman Brothers, the Course Director has spent seventeen years working as an investment banker in Europe and the US. She has principally worked in the credit markets and has experience of the US and European high grade and high yield markets, the European new issue markets, the Asian convertible bond markets and of corporate restructurings of distressed credits. She specialised in the telecoms sector and was closely involved in the structuring, raising and/or trading of bank and public debt for telecoms companies in many countries, including Europe, South Africa, Asia and Latin America. She also has extensive experience of corporate finance transactions, including mergers, disposals, privatisations, IPOs and capital raisings. Until 2003, she was an Executive Director at Lehman Brothers in Fixed Income Research in London, having also worked for CS First Boston and Kleinwort Benson. She now works on an independent basis advising the legal and private equity professions on credit analysis and company valuation. She has a degree in economics from the London School of Economics and stock exchange qualifications from London and New York.

Venue

Dubai

Dubai Hotel

This programme takes place on a non-residential basis at a central Dubai hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Dubai has an incredible number of hotels. Courses held here are mainly held at the J.W. Marriot hotel, Sheraton Dubai Creek and Le Meridien all in central Dubai.
 
J.W. Marriott Hotel – Abu Baker Al Siddique Road, PO Box 16590, Dubai, U.A.E
Phone +971 4 607 7811; Fax +971 4 607 7011
www.marriott.com
 
At the JW Marriott Dubai you will enjoy luxury on your terms; impeccable service and elegant surroundings allow you to relax and focus on your own agenda. With 344 luxuriously appointed rooms and suites the J.W. Marriott provides an oasis of calm in a busy city while the award-winning restaurants have the recipe for satisfying a taste for international flavour.        
 
Sheraton Dubai Creek – Baniyas Street, PO Box 4250, Dubai, U.A.E
Phone +971 4 228 1111; Fax +971 4 221 3468
www.starwoodhotels.com
 
After undergoing a complete renovation, the Sheraton Dubai Creek Hotel& Towers reopened October 10th, 2002 with a fully refurbished interior and exterior. The 255 room hotel now offers more creek-view rooms, redesigned atrium lobby, outstanding food and beverage facilities, upgraded rooms with state-of-the-art data connectivity, and Dubai's newest conference facilities. 

Le Meridien – PO Box 10001, Airport Road, Dubai, U.A.E
Phone +971 4 282 4040; Fax +971 4 282 5540
www.lemeridien-dubai.com
 
Le Meridien Dubai is a five star deluxe hotel built on two floors and surrounded by 38 acres of landscaped gardens. The hotel is elegantly furnished with a french accent that incorporates the individual character and flair of the local culture. The hotel is minutes away from the commercial districts and shopping centres and a short distance from Dubai International Airport. Facilities include a choice of 15 restaurants and bars, 24-hour room and laundry service, two fully equipped business centres and a state-of-the-art Spa and fitness club.

 
 

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Hong Kong

4-5 Star Hotel in Hong Kong

All of our courses are held in 4 – 5 star hotels, chosen for their location, facilities and level of service. You can be assured of a comfortable, convenient learning environment throughout the duration of the course.

Due to the variation in delegate numbers, we will send confirmation of the venue to you approximately 2 weeks before the start of the course. Course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Related Courses

Inhouse


 

Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:





Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

inhouse-learn-more

We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


Read more about our offering or complete a call back request to speak to a learning specialist.

 

Agenda

Agendas are localised, please select your preferred location.

Day 1

   
Introduction to corporate valuations

 
Valuation fundamentals

  • Drivers of valuation – ROIC, WACC, growth, size
  • The FCF perpetuity valuation formula; single and double period
  • The key value driver valuation formula
  • Economic profit and enterprise value added
  • ROIC vs. WACC – computation and drawbacks

Case studies: valuing companies using the above formulae

Financial analysis for valuation

  • Cleaning up the reported results to derive underlying performance
  • Calculating key financial ratios to assess a firm’s performance relative to its sector
  • Enterprise value versus equity value – what to include in net debt
  • Adjusting for operating leases and other off balance sheet liabilities

Valuations based on multiples

  • Multiple valuations based on revenues, EBIT, EBITDA(R), Net income/EPS, NAV
  • Overview of following ratios: PE, PEG, EV/EBITDA(R), PB, NAV
  • Choosing comparable firms
  • Dividend yield valuations
  • Reconciliation of multiple valuations to the key value driver formula
      
     

Day 2

 
Valuations based on multiples contd

  • Earnings versus cashflow
  • EPS dilution/enhancement
  • Case studies: valuing companies using multiple analysis

DCF valuations and financial modelling with Excel

  • Calculating OPAT and unlevered free cashflow
  • The CAPM; unlevered and levered betas, risk premia, kd, ke, tax shields and WACC
  • Explicit forecast period and terminal value
  • Assessing the terminal value (multiple or perpetuity method)
  • Case studies: modelling in Excel to produce DCF valuations

Day 1

   
Introduction to corporate valuations

 
Valuation fundamentals

  • Drivers of valuation – ROIC, WACC, growth, size
  • The FCF perpetuity valuation formula; single and double period
  • The key value driver valuation formula
  • Economic profit and enterprise value added
  • ROIC vs. WACC – computation and drawbacks

Case studies: valuing companies using the above formulae

Financial analysis for valuation

  • Cleaning up the reported results to derive underlying performance
  • Calculating key financial ratios to assess a firm’s performance relative to its sector
  • Enterprise value versus equity value – what to include in net debt
  • Adjusting for operating leases and other off balance sheet liabilities

Valuations based on multiples

  • Multiple valuations based on revenues, EBIT, EBITDA(R), Net income/EPS, NAV
  • Overview of following ratios: PE, PEG, EV/EBITDA(R), PB, NAV
  • Choosing comparable firms
  • Dividend yield valuations
  • Reconciliation of multiple valuations to the key value driver formula
      
     

Day 2

 
Valuations based on multiples contd

  • Earnings versus cashflow
  • EPS dilution/enhancement
  • Case studies: valuing companies using multiple analysis

DCF valuations and financial modelling with Excel

  • Calculating OPAT and unlevered free cashflow
  • The CAPM; unlevered and levered betas, risk premia, kd, ke, tax shields and WACC
  • Explicit forecast period and terminal value
  • Assessing the terminal value (multiple or perpetuity method)
  • Case studies: modelling in Excel to produce DCF valuations

Day 1

   
Introduction to corporate valuations

 
Valuation fundamentals

  • Drivers of valuation – ROIC, WACC, growth, size
  • The FCF perpetuity valuation formula; single and double period
  • The key value driver valuation formula
  • Economic profit and enterprise value added
  • ROIC vs. WACC – computation and drawbacks

Case studies: valuing companies using the above formulae

Financial analysis for valuation

  • Cleaning up the reported results to derive underlying performance
  • Calculating key financial ratios to assess a firm’s performance relative to its sector
  • Enterprise value versus equity value – what to include in net debt
  • Adjusting for operating leases and other off balance sheet liabilities

Valuations based on multiples

  • Multiple valuations based on revenues, EBIT, EBITDA(R), Net income/EPS, NAV
  • Overview of following ratios: PE, PEG, EV/EBITDA(R), PB, NAV
  • Choosing comparable firms
  • Dividend yield valuations
  • Reconciliation of multiple valuations to the key value driver formula
      
     

Day 2

 
Valuations based on multiples contd

  • Earnings versus cashflow
  • EPS dilution/enhancement
  • Case studies: valuing companies using multiple analysis

DCF valuations and financial modelling with Excel

  • Calculating OPAT and unlevered free cashflow
  • The CAPM; unlevered and levered betas, risk premia, kd, ke, tax shields and WACC
  • Explicit forecast period and terminal value
  • Assessing the terminal value (multiple or perpetuity method)
  • Case studies: modelling in Excel to produce DCF valuations

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product