Intermediate

Business Valuation

Learn how to value businesses with a disciplined, evidence-based process. Connect operating performance, competitive advantage and financial forecasts to intrinsic value using professional valuation methods.

9 hours 26 lessons

Course introduction video

You will learn to translate a company's business model and financial performance into defensible valuation assumptions. By combining discounted cash flow, relative valuation and scenario analysis, you will develop the judgment to estimate intrinsic value, recognize what the market is pricing in and make decisions with a clear margin of safety.

Course content

Module 1

Valuation foundations

Price, value and investor expectations
Understanding enterprise and equity value
How business models create economic value
Competitive advantage and return on capital
Normalizing earnings and cash flows
Defining a professional valuation process

Module 2

Forecasting business performance

Analyzing historical operating drivers
Forecasting revenue and unit economics
Margins, reinvestment and operating leverage
Working capital and capital expenditure
From accounting earnings to free cash flow
Building base, bull and bear scenarios
Testing forecast consistency

Module 3

Intrinsic valuation

The discounted cash flow framework
Estimating the cost of capital
Terminal value and long-term assumptions
Valuing debt, cash and non-operating assets
Equity value and value per share
Sensitivity tables and key value drivers
Avoiding false precision in DCF models

Module 4

Relative valuation and decisions

Selecting genuinely comparable companies
EV/EBITDA, P/E and free-cash-flow yields
Adjusting multiples for growth and quality
Reverse DCF and market-implied expectations
Triangulating value across methods
Margin of safety and valuation ranges

What you'll achieve

Build coherent financial forecasts from fundamental business drivers
Estimate intrinsic value using discounted cash flow analysis
Apply valuation multiples with the correct context and adjustments
Define valuation ranges and make decisions with a margin of safety