Why This Course?

How do you value a company?  Are techniques different for small-sized companies (SME) compared to a publicly listed company? Is a valuation an objective search for "true" value? Does a good valuation provide a precise estimate of value? The more quantitative a model, the better the valuation?

Valuing a company can feel like a mystery—numbers, markets, and risks all swirling together. This course cuts through the confusion with a practical, hands-on approach. You’ll learn the top valuation methods, practice them on a real-world case study, and leave ready to make smart decisions—whether you’re buying, selling, or growing a business. We focus on doing, not just talking, so you’ll gain skills you can use right away, no matter your experience level.

Course Overview

This 2-day course enables you to calculate the worth of a company by teaching you how to value a business using three key methods: asset-based, market-based, and discounted cash flow (DCF). We’ll explore price vs. value, dig into risks and market trends, and show you how to apply these skills in real situations—like mergers or sales. Through a step-by-step case study, you’ll test what you learn and discover how to pick the best approach for any deal.

Course Content

Want to learn how to uncover the true value of a company? In this course, you’ll dive into the exciting valuation world – from book value to market techniques and future cash flows. No dry theory here, just practical skills you can use right away. Here’s what’s in store for you:

• Valuation: Learn to distinguish between profit and value, spot trends in companies and markets, recognise risks, and decode the financial statements.
• Our Real-Life Example: We’ll analyse a real company together, and you’ll value it step by step.
• Assets Under the Microscope: Calculate book and adjusted book value, make it realistic, and practice with hands-on exercises.
• Markets and Practices: Learn how investors think, what risk versus reward means, and how time and markets work (including bubbles and portfolios).
• Market Tools and Techniques: We will use techniques like the PE ratio, P/B Ratio, and EV/EBITDA, compare them, and apply them to our company.
• DCF: Predicting Potential and the Future: Discover why cash flows matter, calculate them, and create your valuation.
• The Return and the Cost of Financing: Explore debt and equity costs, understand debates about risk and return, and practice with CAPM/WACC.
• DCF Step-by-Step: Forecast cash flows, estimate residual value, and discount it back to today – you’ll build it for our example.
• Valuation in the Real World: Think about mergers, new stock issues, or privatisations, and see how brands add value.
• Wrap-Up: Combine book value, market value, and DCF, pick the best approach, and learn to negotiate.
• Test Your Skills: Play with scenarios (like takeovers or new markets) and see what changes.
• Closing: Ask all your questions and leave with new knowledge!

Sound like your thing? Sign up and learn how to truly value companies – practical and ready to use!

Key Skills Gained

• Valuation Mastery: Use asset, market, and DCF methods to value any company.
• Risk Awareness: Spot how risks and markets shift value.
• Decision-Making: Pick the right valuation tool for sales, mergers, or investments.
• Practical Application: Turn numbers into a clear, convincing story for deals or negotiations.

• Financial analysts who want stronger practical valuation and modelling skills.
• Investors and private equity professionals assessing acquisition or investment opportunities.
• CFOs, finance managers, and controllers involved in strategic transactions or capital decisions.
• Business owners preparing for a sale, acquisition, fundraising, or succession.
• Corporate development and M&A professionals evaluating targets and deal value.
• Consultants and advisors supporting valuations, negotiations, or restructuring projects.
• Bankers and credit professionals assessing enterprise value and financing capacity.
• FP&A professionals who want deeper insight into value drivers and capital returns.
• Entrepreneurs seeking to understand what drives company worth and market pricing.
• Managers who need to confidently discuss valuation in growth or transaction situations.

09:00 – 10:15 | Company Valuation

• Introduction to valuation
• Price versus value
• Company and industry dynamics
• Risk and value 
• The annual report

10:15 – 10:45 | Introducing our case study 

10:45 – 11:00 | Morning Break

11:00 – 12:15 | Asset valuation techniques

• What are you valuing
• Determining book value
• Adjusting book value
• Exercises on book based valuations

12:15 – 13:00 | The fundamentals of markets and market valuation

• Investors and expectations
• Risk versus return
• The time value of money
• Perfect and efficient markets
• Inefficiency and market bubbles
• Economic theory
• Portfolio theory

13:00 – 14:00 | Lunch Break

14:00 – 15:45 | Market Based Valuation techniques

• Determine market value
• Dividend yield
• Price to book ratio
• PE multiple
• Determine price to cash flow
• Enterprise value to EBITDA
• Ratio's and comparison of market multiple techniques

15:45 – 16:00 | Afternoon Break

16:00 – 17:00 | Practical Review and Day 1 Wrap-Up

• Review of key valuation concepts
• Comparison of asset-based and market-based approaches
• Questions and discussion

09:00 – 09:30 | DCF methods

• Introduction to cost calculations of the capital components and DCF valuation methods

09:30 – 11:00 | The cost of capital

• Cost calculations of the capital components
• Areas of controversial debate in deriving cost of capital
• Share market premium, betas and the risk free rate
• The optimal capital structure cost of capital
• Cost of different sources of capital
• Measuring the cost of capital
• Using the Capital Asset Pricing Model
• Calculating the Weighted Average Cost of Capital

11:00 – 11:15 | Morning Break

11:15 – 12:30 | DCF Valuation steps

• Investment horizon
• Forecast operating cash flows
• The residual value and discounting the cash flows

12:30 – 13:00 | Valuation in Context

• The market regulation
• New issues
• Privatisation, Mergers and Acquisitions and restructuring

13:00 – 14:00 | Lunch Break

14:00 – 15:30 | Case Study

•  We calculate the book, market and DCF valuation techniques and make decisions on best option.

15:30 – 15:45 | Afternoon Break

15:45 – 17:00 | Debrief Case

• Sensitivity and scenario analysis
• Application of DCF under different market conditions (emerging) or corporate actions (mergers or takeovers)

• Jan, business owner: "This training finally showed me how to value my company. The case study was a game-changer, and I now feel much more confident negotiating a sale."

• Liesbeth, financial analyst: "The mix of theory and practice was spot on. Especially the DCF steps and how to apply them in real situations like mergers—that’s something I’ll use in my job. Highly recommend!"

• Pieter, Accountant: "I already knew a bit about valuations, but this course tied it all together. Market methods and risks are much clearer now, and I can make better investment decisions."