A DCF valuation (discounted cash flow valuation) estimates what a company is worth today by projecting its future cash flows and discounting them back to present value. It is the most widely used intrinsic valuation method in investment banking, equity research, and corporate finance because it values a business based on its own fundamentals rather…
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Equity Analysis: Art or Science?
I’ve seen a lot of equity analysts come and go throughout my 25 years in the business. I have seen…
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If I Pass the CFA Exam Will I Get Higher Pay?
The CFA exams are favored as one of the top financial services qualifications to achieve—across the world. A common misconception…
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What to Expect on the CFA Level 1 Exam in 2026
What Is the CFA Level 1 Exam? The CFA Level 1 exam is a computer-based test (CBT) consisting of 180…
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Introducing the Valuation Master Class
The Right Tools When it comes to making crucial business and financial decisions, the savvy financial analyst wants the right…
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How to Value Cyclical Companies
Cyclical companies have different characteristics compared to non-cyclical companies. One of the main differences is that these companies have volatile earnings due to economic conditions.
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Valuation Master Class FAQ Index
Answers and guides to common questions and challenges that you face in the Valuation Master Class.
Read More Sector specific issues
All industry-related issues regarding your forecast. Common-sized P&L and Balance Sheet data will help put your forecast into perspective
Read More Abbreviations
Abbreviations you might encounter working with the ValueModel or any forecasting and valuation: WACC, COE, ROIC, DPR, CAPEX, FCFF, EPS…
Read More P&L Forecasting
Three things that really matter on “Profit and Loss statement” or what we also call “Income statement” in the US or “P&L” in the UK. First …
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