{"product_id":"financial-modeling-and-valuation-isbn-9781119808893","title":"Financial Modeling and Valuation","description":"\u003cp\u003e\u003cb\u003eThe fully revised new edition of the best-selling guide to using financial models to determine if a stock is over or undervalued\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWritten by the founder and CEO of the world-renowned New York School of Finance, \u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e provides clear and systematic guidance on accurately evaluating the soundness of a stock investment. This invaluable handbook equips investors with the tools necessary for understanding the underlying fundamentals of a rational investment and for making smarter investment decisions in any market environment.\u003c\/p\u003e \u003cp\u003eBuilt around an in-depth case study of global retail leader Amazon, this fully updated Second Edition shows you how to analyze the financial standing of a company using the methods of Wall Street professionals. Step-by-step, you will learn to build the core three statements—income statement, cash flow statement, and balance sheet—as well as the three major supporting schedules required for complete company valuation and analysis. All line items are explained in clear language and include real-world tips and techniques for using them as tools for valuing and managing a business. This must-have guide:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eFeatures new and in-depth case studies based on Amazon that simulate real-world modelling and valuation\u003c\/li\u003e \u003cli\u003eExplains valuation techniques such as illustrative comparable company analysis, precedent transactions analysis, and discounted cash flow analysis\u003c\/li\u003e \u003cli\u003eCovers all essential applications of a model, including pricing a stock, raising debt, and raising equity\u003c\/li\u003e \u003cli\u003eIncludes an introductory section describing the recent and dramatic shift of the entire retail industry\u003c\/li\u003e \u003cli\u003eProvides end-of-chapter questions, downloadable practice models, additional case studies, and common interview questions via a companion website\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eFinancial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity, Second Edition\u003c\/i\u003e is essential reading for finance professionals, venture capitalists, individual investors, and students in investment banking and related degree programs in finance.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eThe Amazon Case Study xvi\u003c\/p\u003e \u003cp\u003eHow This Book Is Structured xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFinancial Statements and Projections 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Income Statement 3\u003c\/p\u003e \u003cp\u003eRevenue 4\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 4\u003c\/p\u003e \u003cp\u003eGross Profit 4\u003c\/p\u003e \u003cp\u003eOperating Expenses 5\u003c\/p\u003e \u003cp\u003eOther Income 6\u003c\/p\u003e \u003cp\u003eEBITDA 6\u003c\/p\u003e \u003cp\u003eDepreciation and Amortization 8\u003c\/p\u003e \u003cp\u003eEBIT 8\u003c\/p\u003e \u003cp\u003eInterest 9\u003c\/p\u003e \u003cp\u003eEBT 9\u003c\/p\u003e \u003cp\u003eTaxes 9\u003c\/p\u003e \u003cp\u003eNet Income 10\u003c\/p\u003e \u003cp\u003eNon-Recurring and Extraordinary Items 10\u003c\/p\u003e \u003cp\u003eDistributions 11\u003c\/p\u003e \u003cp\u003eNet Income (as Reported) 11\u003c\/p\u003e \u003cp\u003eShares 11\u003c\/p\u003e \u003cp\u003eEarnings per Share (EPS) 12\u003c\/p\u003e \u003cp\u003eAmazon’s Income Statement 12\u003c\/p\u003e \u003cp\u003eRevenue 14\u003c\/p\u003e \u003cp\u003eGetting to EBITDA 20\u003c\/p\u003e \u003cp\u003eDigging up Depreciation 20\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 23\u003c\/p\u003e \u003cp\u003eGross Profit 23\u003c\/p\u003e \u003cp\u003eFulfillment 25\u003c\/p\u003e \u003cp\u003eTechnology and Content 25\u003c\/p\u003e \u003cp\u003eMarketing, General and Administrative,\u003c\/p\u003e \u003cp\u003eOther Operating Expense (Income), Net 27\u003c\/p\u003e \u003cp\u003eTotal Operating Expenses 27\u003c\/p\u003e \u003cp\u003eEBITDA 27\u003c\/p\u003e \u003cp\u003eBeyond EBITDA 28\u003c\/p\u003e \u003cp\u003eDepreciation and Amortization 28\u003c\/p\u003e \u003cp\u003eEBIT 29\u003c\/p\u003e \u003cp\u003eOther Income 30\u003c\/p\u003e \u003cp\u003eInterest 31\u003c\/p\u003e \u003cp\u003eEBT 31\u003c\/p\u003e \u003cp\u003eTaxes 31\u003c\/p\u003e \u003cp\u003eNet Income from Continuing Operations 32\u003c\/p\u003e \u003cp\u003eNon-Recurring and Extraordinary Items 32\u003c\/p\u003e \u003cp\u003eNet Income (after Non-Recurring Events) 33\u003c\/p\u003e \u003cp\u003eDistributions 33\u003c\/p\u003e \u003cp\u003eNet Income (as Reported) 33\u003c\/p\u003e \u003cp\u003eShares and EPS 34\u003c\/p\u003e \u003cp\u003eIncome Statement – Making Projections 35\u003c\/p\u003e \u003cp\u003eRevenue 35\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 40\u003c\/p\u003e \u003cp\u003eOperating Expenses 45\u003c\/p\u003e \u003cp\u003eDepreciation and Amortization 46\u003c\/p\u003e \u003cp\u003eOther Income 49\u003c\/p\u003e \u003cp\u003eSeven Methods of Projections 49\u003c\/p\u003e \u003cp\u003eInterest Income 53\u003c\/p\u003e \u003cp\u003eTaxes 53\u003c\/p\u003e \u003cp\u003eNon-Recurring Events 55\u003c\/p\u003e \u003cp\u003eDistributions 55\u003c\/p\u003e \u003cp\u003eEquity Method Investment Activity 55\u003c\/p\u003e \u003cp\u003eDividends 57\u003c\/p\u003e \u003cp\u003eShares 57\u003c\/p\u003e \u003cp\u003eBasic Shares Outstanding 57\u003c\/p\u003e \u003cp\u003eDiluted Shares Outstanding and the Treasury Method 57\u003c\/p\u003e \u003cp\u003eEarnings per Share 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Cash Flow Statement 67\u003c\/p\u003e \u003cp\u003eCash from Operating Activities 67\u003c\/p\u003e \u003cp\u003eRevenue 69\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 69\u003c\/p\u003e \u003cp\u003eOperating Expenses 69\u003c\/p\u003e \u003cp\u003eDepreciation 69\u003c\/p\u003e \u003cp\u003eInterest 69\u003c\/p\u003e \u003cp\u003eTaxes 70\u003c\/p\u003e \u003cp\u003eCash from Investing Activities 71\u003c\/p\u003e \u003cp\u003eCash from Financing Activities 71\u003c\/p\u003e \u003cp\u003eFinancial Statement Flows Example 72\u003c\/p\u003e \u003cp\u003eAmazon’s Cash Flow Statement 78\u003c\/p\u003e \u003cp\u003eCash from Operating Activities 78\u003c\/p\u003e \u003cp\u003eCash from Investing Activities 81\u003c\/p\u003e \u003cp\u003eCash from Financing Activities 82\u003c\/p\u003e \u003cp\u003eCash Flow Statement – Making Projections 84\u003c\/p\u003e \u003cp\u003eCash from Operating Activities 85\u003c\/p\u003e \u003cp\u003eDepreciation and Amortization 85\u003c\/p\u003e \u003cp\u003eStock-Based Compensation 85\u003c\/p\u003e \u003cp\u003eOther Operating Expense 88\u003c\/p\u003e \u003cp\u003eOther Expense (Income) 90\u003c\/p\u003e \u003cp\u003eDeferred Taxes 91\u003c\/p\u003e \u003cp\u003eChanges in Operating Working Capital 91\u003c\/p\u003e \u003cp\u003eCash from Investing Activities 92\u003c\/p\u003e \u003cp\u003eProceeds from Property and Equipment Sales and Incentives 98\u003c\/p\u003e \u003cp\u003eItems Based on Cash Available 98\u003c\/p\u003e \u003cp\u003eCash Flow from Financing Activities 101\u003c\/p\u003e \u003cp\u003eEffect of Exchange Rate on Cash 101\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Balance Sheet 107\u003c\/p\u003e \u003cp\u003eAssets 107\u003c\/p\u003e \u003cp\u003eCurrent Assets 107\u003c\/p\u003e \u003cp\u003eCash and Cash Equivalents 107\u003c\/p\u003e \u003cp\u003eAccounts Receivable 107\u003c\/p\u003e \u003cp\u003eInventory 108\u003c\/p\u003e \u003cp\u003ePrepaid Expense 109\u003c\/p\u003e \u003cp\u003eNon-Current Assets 110\u003c\/p\u003e \u003cp\u003eProperty, Plant, and Equipment (PP\u0026amp;E) 110\u003c\/p\u003e \u003cp\u003eIntangible Assets 110\u003c\/p\u003e \u003cp\u003eLiabilities 110\u003c\/p\u003e \u003cp\u003eCurrent Liabilities 110\u003c\/p\u003e \u003cp\u003eAccounts Payable 110\u003c\/p\u003e \u003cp\u003eAccrued Liabilities 111\u003c\/p\u003e \u003cp\u003eShort-Term Debts 111\u003c\/p\u003e \u003cp\u003eNon-Current Liabilities 111\u003c\/p\u003e \u003cp\u003eLong-Term Debts 111\u003c\/p\u003e \u003cp\u003eDeferred Taxes 111\u003c\/p\u003e \u003cp\u003eAmazon’s Balance Sheet 112\u003c\/p\u003e \u003cp\u003eCurrent Assets 113\u003c\/p\u003e \u003cp\u003eNon-Current Assets 113\u003c\/p\u003e \u003cp\u003eOperating Leases 114\u003c\/p\u003e \u003cp\u003eGoodwill 114\u003c\/p\u003e \u003cp\u003eOther Assets 114\u003c\/p\u003e \u003cp\u003eCurrent Liabilities 114\u003c\/p\u003e \u003cp\u003eShort-Term Debt 115\u003c\/p\u003e \u003cp\u003eNon-Current Liabilities 115\u003c\/p\u003e \u003cp\u003eOther Long-Term Liabilities 116\u003c\/p\u003e \u003cp\u003eShareholders’ Equity 116\u003c\/p\u003e \u003cp\u003eCommon Stock and Additional Paid-in Capital 117\u003c\/p\u003e \u003cp\u003eTreasury Stock, Accumulated Other Comprehensive\u003c\/p\u003e \u003cp\u003eLoss and Retained Earnings 117\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDepreciation Schedule 119\u003c\/p\u003e \u003cp\u003eStraight-Line Depreciation 120\u003c\/p\u003e \u003cp\u003eAccelerated Depreciation 121\u003c\/p\u003e \u003cp\u003eDeclining Balance 121\u003c\/p\u003e \u003cp\u003eSum of the Year’s Digits 122\u003c\/p\u003e \u003cp\u003eModified Accelerated Cost Recovery System (MACRS) 122\u003c\/p\u003e \u003cp\u003eDeferred Taxes 125\u003c\/p\u003e \u003cp\u003eDeferred Tax Asset 125\u003c\/p\u003e \u003cp\u003eNOL Carryback Example 126\u003c\/p\u003e \u003cp\u003eDeferred Tax Liability 127\u003c\/p\u003e \u003cp\u003eProjecting Depreciation 129\u003c\/p\u003e \u003cp\u003eStraight-Line Depreciation 129\u003c\/p\u003e \u003cp\u003eAnchoring Formula References 133\u003c\/p\u003e \u003cp\u003eProjecting Deferred Taxes 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWorking Capital 155\u003c\/p\u003e \u003cp\u003eOperating Working Capital 156\u003c\/p\u003e \u003cp\u003eAmazon’s Operating Working Capital 158\u003c\/p\u003e \u003cp\u003eInventories 160\u003c\/p\u003e \u003cp\u003eAccounts Receivable, Net and Other 162\u003c\/p\u003e \u003cp\u003eAccounts Payable 163\u003c\/p\u003e \u003cp\u003ePignataro808893_ftoc.indd xi 07 Feb 2022 01:10:58 pm\u003c\/p\u003e \u003cp\u003eAccrued Expenses and Other 165\u003c\/p\u003e \u003cp\u003eUnearned Revenue 166\u003c\/p\u003e \u003cp\u003eProjecting Operating Working Capital 168\u003c\/p\u003e \u003cp\u003eReceivables 168\u003c\/p\u003e \u003cp\u003eInventories 170\u003c\/p\u003e \u003cp\u003eAccounts Payable 172\u003c\/p\u003e \u003cp\u003eAccrued Expenses 174\u003c\/p\u003e \u003cp\u003eUnearned Revenue 174\u003c\/p\u003e \u003cp\u003eOperating Working Capital and the Cash Flow Statement 176\u003c\/p\u003e \u003cp\u003eChanges in Inventory 178\u003c\/p\u003e \u003cp\u003eAccounts Receivable 179\u003c\/p\u003e \u003cp\u003eChanges in Accounts Payable 181\u003c\/p\u003e \u003cp\u003eChanges in Accrued Expenses 182\u003c\/p\u003e \u003cp\u003eChanges in Unearned Revenue 182\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBalance Sheet Projections 183\u003c\/p\u003e \u003cp\u003eCash Flow Statement Drives Balance Sheet vs.\u003c\/p\u003e \u003cp\u003e Balance Sheet Drives Cash Flow Statement 183\u003c\/p\u003e \u003cp\u003eAssets 185\u003c\/p\u003e \u003cp\u003eInventories 186\u003c\/p\u003e \u003cp\u003eAccounts Receivable 188\u003c\/p\u003e \u003cp\u003eLiabilities 192\u003c\/p\u003e \u003cp\u003eShareholders’ Equity 195\u003c\/p\u003e \u003cp\u003eBalancing an Unbalanced Balance Sheet 196\u003c\/p\u003e \u003cp\u003eNYSF Balance Sheet Balancing Method 201\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Debt Schedule, Circular References, and Finalizing the Model 205\u003c\/p\u003e \u003cp\u003eDebt Schedule Structure 206\u003c\/p\u003e \u003cp\u003eModeling the Debt Schedule 206\u003c\/p\u003e \u003cp\u003eShort-Term Debt 206\u003c\/p\u003e \u003cp\u003eMandatory Issuances\/(Retirements) and\u003c\/p\u003e \u003cp\u003eNon-Mandatory Issuances\/(Retirements) 210\u003c\/p\u003e \u003cp\u003eLong-Term Debt 214\u003c\/p\u003e \u003cp\u003eDebt Interest 214\u003c\/p\u003e \u003cp\u003eLong-Term Lease Liabilities 216\u003c\/p\u003e \u003cp\u003eTotal Issuances\/(Retirements) 219\u003c\/p\u003e \u003cp\u003eTotal Interest Expense 219\u003c\/p\u003e \u003cp\u003eCash Available to Pay Down Debt 220\u003c\/p\u003e \u003cp\u003eInterest Income 224\u003c\/p\u003e \u003cp\u003eCircular References 235\u003c\/p\u003e \u003cp\u003eCircular Reference #Value! Errors 242\u003c\/p\u003e \u003cp\u003eAutomatic Debt Paydowns 243\u003c\/p\u003e \u003cp\u003eBasic Switches 252\u003c\/p\u003e \u003cp\u003eFinalizing the Model 252\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eValuation 277\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Value? 279\u003c\/p\u003e \u003cp\u003eBook Value 279\u003c\/p\u003e \u003cp\u003eMarket Value 279\u003c\/p\u003e \u003cp\u003eEnterprise Value 280\u003c\/p\u003e \u003cp\u003eMultiples 284\u003c\/p\u003e \u003cp\u003eThree Core Methods of Valuation 286\u003c\/p\u003e \u003cp\u003eComparable Company Analysis 287\u003c\/p\u003e \u003cp\u003ePrecedent Transactions Analysis 287\u003c\/p\u003e \u003cp\u003ePurchase Multiples 288\u003c\/p\u003e \u003cp\u003eDiscounted Cash Flow Analysis 289\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDiscounted Cash Flow Analysis 291\u003c\/p\u003e \u003cp\u003eMidyear vs. End-of-Year Convention 291\u003c\/p\u003e \u003cp\u003eUnlevered Free Cash Flow 292\u003c\/p\u003e \u003cp\u003eWeighted Average Cost of Capital (WACC) 300\u003c\/p\u003e \u003cp\u003eCost of Debt 301\u003c\/p\u003e \u003cp\u003eCost of Equity 301\u003c\/p\u003e \u003cp\u003eMarket Risk Premium 304\u003c\/p\u003e \u003cp\u003eBeta 306\u003c\/p\u003e \u003cp\u003eLevering and Unlevering Beta 307\u003c\/p\u003e \u003cp\u003eTerminal Value 308\u003c\/p\u003e \u003cp\u003eMultiple Method 308\u003c\/p\u003e \u003cp\u003ePerpetuity Method 309\u003c\/p\u003e \u003cp\u003eAmazon DCF Analysis 310\u003c\/p\u003e \u003cp\u003eWACC 312\u003c\/p\u003e \u003cp\u003eCost of Equity 312\u003c\/p\u003e \u003cp\u003eEBITDA Method 320\u003c\/p\u003e \u003cp\u003ePerpetuity Method 322\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComparable Company Analysis 327\u003c\/p\u003e \u003cp\u003eLast Twelve Months (LTM) 329\u003c\/p\u003e \u003cp\u003eCalendarization 330\u003c\/p\u003e \u003cp\u003eNetflix as a Comparable Company 331\u003c\/p\u003e \u003cp\u003eNetflix 2020 Year End 332\u003c\/p\u003e \u003cp\u003eRevenue 333\u003c\/p\u003e \u003cp\u003eOperating Expenses 335\u003c\/p\u003e \u003cp\u003eDepreciation 335\u003c\/p\u003e \u003cp\u003eInterest 337\u003c\/p\u003e \u003cp\u003eTaxes 338\u003c\/p\u003e \u003cp\u003eNon-Recurring Events 339\u003c\/p\u003e \u003cp\u003eEarnings per Share (EPS) 339\u003c\/p\u003e \u003cp\u003eNetflix Quarterly Income Statement 340\u003c\/p\u003e \u003cp\u003eNetflix LTM Adjustments 345\u003c\/p\u003e \u003cp\u003eNetflix Projections 345\u003c\/p\u003e \u003cp\u003eRevenue 350\u003c\/p\u003e \u003cp\u003eCOGS 351\u003c\/p\u003e \u003cp\u003eDepreciation 351\u003c\/p\u003e \u003cp\u003eInterest 351\u003c\/p\u003e \u003cp\u003eTaxes 352\u003c\/p\u003e \u003cp\u003eNon-Recurring Events 353\u003c\/p\u003e \u003cp\u003eShares and Earnings per Share 353\u003c\/p\u003e \u003cp\u003eCalculating Comparable Metrics 357\u003c\/p\u003e \u003cp\u003eMarket Value and Enterprise Value 360\u003c\/p\u003e \u003cp\u003eMultiples 361\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrecedent Transactions Analysis 365\u003c\/p\u003e \u003cp\u003eIdentifying Precedent Transactions 365\u003c\/p\u003e \u003cp\u003eAmazon Precedent Transaction Analysis 366\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConclusion 375\u003c\/p\u003e \u003cp\u003e52-Week High\/Low 375\u003c\/p\u003e \u003cp\u003eComparable Company Analysis 376\u003c\/p\u003e \u003cp\u003ePrecedent Transactions 378\u003c\/p\u003e \u003cp\u003eDiscounted Cash Flow 379\u003c\/p\u003e \u003cp\u003eFootball Field 381\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eModel Quick Steps 387\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix 2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial Statement Flows 389\u003c\/p\u003e \u003cp\u003eIncome Statement to Cash Flow 389\u003c\/p\u003e \u003cp\u003eCash Flow to Balance Sheet 390\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExcel Hotkeys 391\u003c\/p\u003e \u003cp\u003eAbout the Author 393\u003c\/p\u003e \u003cp\u003eAbout the WebSite 395\u003c\/p\u003e \u003cp\u003eIndex 397\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePAUL PIGNATARO\u003c\/b\u003e is Founder of the New York School of Finance, a world leader in providing finance education to banks, firms, and universities throughout the world. He is also Managing Partner of Caterson Consulting, a consulting firm providing merger, acquisition, and private equity services. He is the author of the \u003ci\u003eInvestment Banking and Private Equity in Practice\u003c\/i\u003e series of books. Previously, Paul worked at TH Lee Putnam Ventures, a $1 billion private equity firm affiliated with buyout giant Thomas H. Lee Partners, and at Morgan Stanley, where he worked on various transactions in the technology, energy, transportation, and business services industries.\u003c\/p\u003e  \u003cp\u003eIn the newly revised \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e distinguished investment and finance professional Paul Pignataro delivers a straightforward and insightful roadmap to evaluating the true value of a stock. The book offers value investors the tools they’ll need to understand the underlying fundamentals of a good investment in any market environment. \u003c\/p\u003e \u003cp\u003eStructured around an in-depth case study of global retail giant Amazon, this fully updated edition walks you through the analysis of the financial standing of a company using the tested methods of Wall Street professionals. The book takes you through each step of building and understanding the three core financial statements—income statement, statement of cash flows, and balance sheet—and the three major supporting schedules you’ll need to appreciate to complete a fulsome company valuation and analysis. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e covers valuation techniques like the illustrative comparable company analysis, precedent transactions analysis, and discounted cash flow analysis, as well as the essential applications of a model. Finally, each line item is explained, along with tips and techniques on how to use each of them as a tool to value and manage a business.  \u003c\/p\u003e\u003cp\u003ePerfect for finance professionals, venture capitalists, and individual investors, \u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e will also earn a place in the libraries of students in investment banking or finance programs and courses.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003e FINANCIAL MODELING AND VALUATION\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eA one-stop roadmap to building and using a financial model \u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e is featured in over 600 universities and libraries throughout the world and has been translated to simplified Chinese.  \u003c\/p\u003e\u003cp\u003eThe \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e offers readers an authoritative and accessible guide to accurately modeling and valuing a company’s stock based on its underlying fundamentals. The book provides a fulsome basis for the development of a complete financial model.  \u003c\/p\u003e\u003cp\u003eYou’ll learn to build the three core financial statements—the income statement, the statement of cash flows, and the balance sheet—as well as the three major supporting schedules necessary for a complete company valuation and analysis. You’ll discover what each line item means and how to use them as tools to value and manage a business.  \u003c\/p\u003e\u003cp\u003eIdeal for retail investors, venture capitalists, and finance professionals, this latest edition of \u003ci\u003eFinancial Modeling and Valuation\u003c\/i\u003e will prove to be an invaluable resource for students of business, finance, and investment banking at the undergraduate and graduate levels.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989211005157,"sku":"NP9781119808893","price":100.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119808893.jpg?v=1761783225","url":"https:\/\/k12savings.com\/products\/financial-modeling-and-valuation-isbn-9781119808893","provider":"K12savings","version":"1.0","type":"link"}