Classical single-factor comparable company valuation (CCV) like e.g. valuation using the price-earnings ratio is associated with several shortcomings. The two most important are the non-applicability of negative values in the basis of reference and the high requirements to the qualitative...

This book contains a solid framework for valuation: analyzing historical performance, including reorganizing a company's financial statements to reflect economic rather than accounting performance; forecasting performance, with emphasis on not just the mechanics of forecasting but also how to...