Valuation ─ Measuring and Managing the Value of Companies: University Edition

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 think about a company's future economics; estimating the cost of capital with practical tips that aren't found in textbooks; interpreting the results of a valuation in light of a company's competitive situation; and linking a company's valuation multiples to the core drivers of its performance.

Valuation 6e University Edition will contain many features and ancillaries essential to professors and students in classroom situations. Included:

‧ New chapter content on advanced valuation techniques

‧ Updated and fully revised case studies showing how vital valuation techniques and principles are applied in real world situations, with instructions on how to apply real option analysis to corporate valuation

‧ End of chapter questions and review

‧ Online instructor's manual, test bank, power point lectures, and other value-add learning materials used at major business schools such as Wharton and Georgetown.

McKINSEY & COMPANYis a global management-consulting firm that serves across a wide range of industries and functions.

TIM KOLLER is a partner in McKinsey's New York office, where he leads a global team of corporate-finance expert consultants.

MARC GOEDHART is a senior expert in McKinsey's Amsterdam office and leads the firm's Corporate Performance Center in Europe.

DAVID WESSELS is an adjunct professor of finance at the Wharton School of the University of Pennsylvania.