Equity Asset Valuation, 3ed

Jerald E. Pinto

ISBN: 9788126563111

620 pages

INR 999


Equity Asset Valuation, Third Edition blends theory and practice to paint an accurate, informative picture of the equity asset world. The most comprehensive resource on the market, this text supplements your studies for the third step in the three-level CFA certification program by integrating both accounting and finance concepts to explore a collection of valuation models and challenge you to determine which models are most appropriate for certain companies and circumstances.




About the CFA Investment Series


Chapter 1 Equity Valuation: Applications & Processes

1. Introduction  

2. Value Definitions and Valuation Applications  

3. The Valuation Process  

4. Communicating Valuation Results

5. Summary


Chapter 2 Return Concepts

1. Introduction

2. Return Concepts

3. The Equity Risk Premium

4. The Required Return on Equity

5. The Weighted Average Cost of Capital

6. Discount Rate Selection in Relation to Cash Flows

7. Summary


Chapter 3 Introduction to Industry and Company Analysis

1. Introduction

2. Uses of Industry Analysis

3. Approaches to Identifying Similar Companies

4. Industry Classification Systems

5. Describing and Analyzing an Industry

6. Company Analysis

7. Summary


Chapter 4 Industry and Company Analysis

1. Introduction

2. Financial Modeling: An Overview

3. The Impact of Competitive Factors on Prices and Costs

4. Inflation and Deflation

5. Technological Developments

6. Long-Term Forecasting

7. Building a Model

8. Summary


Chapter 5 Discounted Dividend Valuation

1. Introduction

2. Present Value Models

3. The Dividend Discount Model

4. The Gordon Growth Model

5. Multistage Dividend Discount Models

6. The Financial Determinants of Growth Rates

7. Summary


Chapter 6 Free Cash Flow Valuation

1. Introduction to Free Cash Flows

2. FCFF and FCFE Valuation Approaches

3. Forecasting Free Cash Flow

4. Free Cash Flow Model Variations

5. Nonoperating Assets and Firm Value

6. Summary


Chapter 7 Market-Based Valuation: Price and Enterprise Value Multiples

1. Introduction

2. Price and Enterprise Value Multiples in Valuation

3. Price Multiples

4. Enterprise Value Multiples

5. International Considerations When Using Multiples

6. Momentum Valuation Indicators

7. Valuation Indicators: Issues in Practice

8. Summary


Chapter 8 Residual Income Valuation

1. Introduction

2. Residual Income

3. The Residual Income Model

4. Residual Income Valuation in Relation to Other Approaches

5. Accounting and International Considerations


Chapter 9 Private Company Valuation

1. Introduction

2. The Scope of Private Company Valuation

3. Definitions (Standards) of Value

4. Private Company Valuation Approaches

5. Summary





About the Editors and Authors

About the CFA Program