Company Analysis and Valuation

Speaker:  Felix Kaufmann  |  CPD Hours: 6.0

Price £575 plus VAT

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Business analysis is primarily driven by its purpose, for example a credit analysis will focus on different aspects of a company’s financial performance than an equity research or mergers and acquisitions (M&A) analysis. One common aspect however is that analysis is largely based on financial information which requires the analyst to understand and interpret financial information in the context of the analysis task at hand. This course will introduce basic approaches to analysing a business from a financial perspective using a range of key performance indicators, such as, profitability, return on capital, leverage, working capital management, asset utilisation, and cash flow generation. The learning will be supported by examples using a real company. Areas of focus include understanding revenue concepts and drivers, costs of sales versus support costs and operating versus financing costs and ways to control these, including hedging. All this will be analysed in the context of the competitive pressures on a business and management’s business strategy in response to these pressures.

The second half of the day is spent linking the analysis to company valuation and explaining the key drivers of the value of a business. As is the case with business analysis there are various reasons why a company might have to be valued, including for M&A transactions or to assess if a share is trading at a fair price on the stock exchange. As a consequence, multiple valuation techniques have evolved and the course will introduce the key valuation concepts including enterprise value versus equity value, trading and transaction multiples, and discounted cash flow valuation. This will include the time value of money concept, valuing a controlling or a minority stake in a business and highlighting the key challenges of valuing a company. Again, the analysis will be supported by using a real company.


  • Key profitability ratios, including gross, operating and net profit margins as well as EBIT and EBITDA
  • Working capital analysis and the cash conversion cycle
  • Return on capital, leverage, and asset efficiency measures
  • Enterprise value and equity multiples
  • Discounted cash flow valuation, including free cash flow, terminal value and WACC calculations


Anyone working in finance or with an interest in financial statement analysis (for example from a credit or financing perspective) and business valuation (for M&A or shareholder value analysis).

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