I came across this online valuation course run by Professor Aswath Damodaran at Stern School of Business at NYU and wanted to share it with readers. I have long been a follower of his blog which goes through numerous musings on business valuation as well as worked examples, so would recommend his course. This is a great way to get started if you want to dip your toes in the water without reading all the books I recommend in my learn to invest section.
It is a series of 25 short videos along with slides and tests. He also has a great collection of valuation tools at the bottom of the page which is worth checking out even for seasoned investors.
The full list of topics covered in the course is:
Introduction to valuation
Intrinsic Value- Foundations
The Risk Free Rate
The Equity Risk Premium
Betas – Relative Risk Measures
Costs of Debt & Capital
Estimating Cash Flows
Estimating Growth
Terminal Value
Value Enhancement
Loose Ends in Valuation
Acquisition Ornaments: Synergy, Control & Complexity
Loose Ends in Valuation: Distress, Dilution & Illiquidity
Relative Valuation – First Principles
PE Ratios
Other Earnings Multiples
Book Value Multiples
Revenue Multiples
Asset Based Valuation
Private Company Valuation
The Essence of Real Options
The Option to Delay (Valuing Patents & Undeveloped Reserves)
The Option to Expand & Abandon
Distressed Equity as an Option
Closing Thoughts
Disclosure: none
Investing Sidekick
Founder of Investing Sidekick. Works as a research analyst and is an avid value investor, always searching for undervalued shares.