Seminars on company valuation

Today many people have to do with company valuations, be it in accounting, M&A, or asset management. However, in everyday use numerous complex issues tend to pop up. Our seminars use concrete examples to show how to deal with typical valuation problems.

In a world of constantly changing accounting rules it is in your interest to understand and track the inputs and their influence on different valuation methods. This is why we offer workshops that aim at an integrated understanding of company valuation with consideration of international accounting. Besides technical questions, like calculating the concrete capital costs, we also show some of the problemsresulting from the use of accounting rules.

Company valuation for beginners Key performance indicator-based company valuation

This seminar is directed at managers and executives who so far had little to do with accounting and key performance indicators, or who want to refresh their knowledge. They learn what figures matter to finance professionals, and how they are processed in company valuation models. They also get to know the fundamentals of different valuation methods (like earning-capacity value, discounted cash flow, economic value added) so they are able to understand advantages and problems of the different approaches.

Company valuation for advanced and experts Stating and problem solving with real world examples

The seminar aims at analysts, portfolio managers, investor relations managers, and experts as well as executives who deal intensively with company valuations, or who want to deepen their knowledge. For this seminar it is advisable to already have some fundamental knowledge of company valuation methods.


The company valuation process with multiples

Problems of earnings calculations

  • Capital costs
  • Stating
  • Beta inconsistency
  • “Market portfolio” definition
  • Calculating real borrowed capital costs (selected examples)
  • Capital costs and leasing

Valuation methods:

  • DCF & EVA model
  • DCF models in the field
  • Influence of turnover prognoses, depreciations and volatile cash flows
  • Influence of leasing on the DCF model
  • EVA vs. DCF, value drivers and visibilit
  • Case study on company valuation
  • Options and dilution
  • Quarterly results vs. annual statement
  • The price-earning ration and its problems (e.g. property allowances)
  • Possible consensus difficulties


The topics will mainly be shown using concrete examples taken from real companies. Looking at different kinds of companies will highlight the problems of sales and margin estimations, balance sheet prognoses, and capital costs calculation.

Your benefit

  • You get to know the recurring issues of company valuation at the example of several real-world examples.
  • You learn to scrutinize valuation methods, to detect and solve problems in current and established valuation models, and to identify fair valuations by yourself.
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