Equity Valuation Techniques 2: Moving Beyond Discounted Cash Flow

Key Learning Aims:

  • Discuss the reasons for using equity valuation techniques other than discounted cash flow
  • Justify the rationales for using price multiples to value a stock
  • Differentiate between equity and enterprise multiples
  • Value a stock using price multiples such as price to earnings ratio, price to book ratio and enterprise value to earnings before interest, tax, depreciation and amortization (EBITDA) ratio
  • Analyze the pros and cons of using price multiples
  • Justify using revalued net asset value (RNAV) to value a stock
  • Value a stock using RNAV and explain RNAV valuation drivers
  • Discuss the reasons for using sum of the parts (SOTP) valuation to value a stock
  • Value a stock using sum of the parts (SOTP) valuation
  • Decide whether to use price multiples, RNAV or SOTP valuation to value a stock

This Program is Recommended For:

  • Investment Bankers and Corporate Finance Professionals
  • Investment Analysts
  • Financial advisers and dealers
  • Entrepreneurs, Business Owners, Finance and Non-Finance Professionals in a Corporate
  • Investors
  • Legal and compliance professionals

Program Duration: 3 Hours

Prerequisites: Working knowledge of Discounted Cash Flow (DCF) valuation. Ideally, learners should have completed Equity Valuation Techniques 1: Discounted Cash Flow Valuation.

SIDC CPE Points: 10 Points

Download the program brochure here.

Course Instructor

Kah-Teck Wong Kah-Teck Wong Facilitator

Kah Teck has more than a decade of capital markets experience. He was a portfolio strategist in CIMB Investment Bank and AmInvestment Bank where he was responsible for spearheading investment advisory and product development initiatives and also played an active role in evaluating numerous plain vanilla and hybrid fund raising options. He has also worked for the Securities Commission in research and formulating capital market development policies.

Now the Managing Director and Principal Trainer for FMTCS Sdn Bhd, Kah Teck passionately shares his knowledge and experience with professionals in many of Malaysia’s leading financial institutions and government-linked institutions. His trainees frequently credit him with the ability to make finance interesting and demystify complex finance concepts. 

Kah Teck graduated summa cum laude with a dual degree in finance and economics from the University of Pennsylvania’s Wharton School and School of Arts and Sciences, and holds an MBA (with Honors) from the Booth School of Business, University of Chicago. He is also a Chartered Financial Analyst (CFA) charterholder. Kah Teck was also awarded the ASEAN scholarship to pursue pre-university studies in Singapore. 

His teaching and research interests are in corporate finance, derivatives, securities valuation, financial risk management, financial modelling and financial analysis.

One-Time Payment

3 months of access