13. Relative Valuation - Using Market Comparables Zenu Sharma zenu.sharma@edhec.edu Course Road Map 1. Financial Markets and Management 2. Present Value 3. Introduction to Risk and Return 4. Portfolio Selection 5. The Capital Asset Pricing Model 6. Financing and Capital Structure 7. Interest Rates and the Valuation of Bonds 8. Project Appraisal 9. Capital Budgeting 10. Capital Budgeting with Financial Leverage 11. The Valuation of Companies and Stocks 12. Relative Valuation 13. Options and
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How To Choose The Best Stock Valuation Method When trying to figure out which valuation method to use to value a stock for the first time‚ most investors will quickly discover the overwhelming number of valuation techniques available to them today. There are the simple to use ones‚ such as the comparable method‚ and there are the more involved methods‚ such as the discounted cash flow model. Which one should you use? Unfortunately‚ there is no one method that is best suited for every situation.
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Valuation models Discounted cash flow models: Dividend discount Free cash flow to the firm Residual income Multiples-based valuation: Price-earnings Value-EBITDA Value-EBIT Value-Sales Price-Book value Equity valuation In conjunction with the valuation of Coles Group‚ contained in “Excel03 Equity valuation” Real options valuation Equity markets price shares above the present value of expected future cash flows‚ due to the presence of embedded options not captured by DCF analysis Real
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& Research SPECIALIZATION PROJECT On Financial Statement Analysis and Business Valuation By Anand Dube PGDM (2009 – 11) Specialization: Finance ROLL NO. 03 PROJECT FACULTY GUIDE Prof. Madhavi Lokhande Prepared by: Anand Dube | PGDM (2009-11)‚ Roll Number 3 PROJECT COMPLETION CERTIFICATE This is to certify that project titled - Financial Statement Analysis and Business Valuation is successfully done by Mr. Anand Rajkumar Dube in partial fulfillment of his two years
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the solutions for questions related to the material covered in class for Chapters 11‚ 12 and 13. Thus‚ you are not required to return this last problem set. Your work on the problem sets is over!!!! During last week of classes we will go over questions on the final exam. Please‚ do not forget to complete the teaching evaluations on-line at https://sete.unt.edu/ Corporate Finance: The Core (Berk/DeMarzo) Chapter 11 - Optimal Portfolio Choice Use the information for the question(s) below
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array of software‚ hardware and services in more than 100 countries‚ serving 2 million customers. PBI provides mail processing equipment and integrated mail solutions worldwide. It offers a suite of equipment‚ supplies‚ software‚ services‚ and solutions for managing and integrating physical and digital communication channels. Pitney Bowes Valuation PBI’s current growth is centered on potential economic recovery. PBI has incurred a slowdown in earnings due to the decline of mail‚ and credit restraints
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Chapter 22 3. The following two quotes are from the website for the FTIF Franklin High Yield Fund dated December 31‚ 2009(http://www.franklintempleton.com.es/pdf/funds/fdata/0825_ksp_es.pdf): a. “Portfolio risk is controlled primarily through our extensive bottom-up‚ fundamental analysis process‚ as well as through security and industry diversification.” What does this mean? The statement refers to how FTIF Franklin High Yield Fund seeks to contain portfolio risk‚ which is to say how it seeks to
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A Project Report On “TO STUDY OF EQUITY VALUATION ON INDIAN CEMENT INDUSTRY” Submitted To: Bhulabhai Vanmalibhai Patel Institute of Business Management‚ Computer & Information Technology‚ Gopal Vidyanagar. Submitted By: BHAVINI SHAH T.Y BBA- I 09 BBA 11 Acknowledgement I wish to express my sincere thanks to Dr. Poonam Mittal‚ Director of Bhulabhai Vanmalibhai Patel Institute of Business Management‚ Computer & Information Technology‚ Gopal Vidyanagar‚ Tarsadi‚ who gave me the chance
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Faculty of Business & Law MASTER OF INTERNATIONAL TRADE AND FINANCE BRAND AND BRAND VALUATION FOR VIETNAMESE ENTERPRISES: CURRENT SITUATION AND SOLUTIONS STUDENT: DANG HAI YEN Student ID: 77090531 Dissertation Supervisor: PHAM XUAN HOAN 2010 - 2011 FACULTY OF BUSINESS AND LAW MAITF VIETNAM ASSIGNMENT HAND-IN FORM I certify by my signature that this is my own work. The work has not‚ in whole or part‚ been presented elsewhere for assessment. Where material
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Topic 2 – Spot Exchange Markets Question 1 You need to buy CHF 1‚000‚000 to pay your Swiss watch supplier. Your bank quotes bid-ask rates of CHF/USD 1.3990 – 1.4000. What will be your dollar cost of the CHF 1‚000‚000? The bid-ask rates of USD/CHF are: 1 1 1.4000 1.3990 0.7143 0.7148 The dollar cost: 1 1.3990 USD 714‚ 796.28 CHF 1‚ 000‚ 000 Question 2 As a FX trader‚ you see the following quotes: USD/CAD 0.7047 MXN/CAD 6.4390 MXN/USD 8.7535 Is there an arbitrage opportunity‚ and if
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