The Financial Times Guide to Corporate Valuation2nd Edition
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Understanding valuation is relevant to everyone with an ambition in business. For us a Cevian Capital it is an absolutely critical skill. This book will take you there faster than any other in the field.
Former Partner McKinsey, Managing Partner and co-founder of Cevian Capital
A handy, accessible and well-written guide to valuation. The authors manage to capture the reader with high-level synthesis as well as more detailed insights in a great way.
Head of Group Strategy & Corporate Development, Nordea Bank AB, formerly with Goldman Sachs & Co and McKinsey & Co
If you can envision the future value of a company you are a winner. Make this comprehensive and diligent book on corporate valuation your companion pursuing transactions and you will succeed.
Founding Partner, CEO Northzone Capital
Both in my previous position as an investment banker and today as an investor in high growth technology companies, corporate valuation has been a most critical subject. The Financial Times guide to Valuationserves as the perfect introduction to the subject and I recommend it to entrepreneurs as well as fellow private investors."
Carl Palmstierna, former Partner Goldman Sachs, Business Angel
Not only will Financial Times Guide to Corporate Valuation provide you with the basic understanding of corporate valuation, it also gives you an interesting insight into non-operational challenges that companies will face. And it does it all in an unexpectedly efficient and reader friendly manner. If you want to learn the basics and only have a few hours to spare, invest them into reading this book!
Head of Corporate Finance, Swedbank
In this highly accessible and reliable introduction to valuation, Messieurs Frykman and Tolleryd have succeeded in selecting only the essential building blocks in a topic that can otherwise be difficult to navigate. Indeed a guide, this book will prove handy to many of us and a breakthrough to some.
Per Hedberg, Academic Director Stockholm School of Economics Russia
This book provides an accessible and informative entry point to the vast topic of valuation. The book covers mechanics as well as how value is linked to intangibles, growth opportunities and industry structure, all the way providing clear examples of every key idea. The authors understand value: they know what is useful, what is practical and what is critical, and give any reader great guidance to the challenge of getting values right.
Bo Becker Assistant Professor Harvard Business School
"I read Frykman & Tolleryds book on Corporate Valuation the first time in the late 90's - the book has not only thought me how to value investments, but also how important it is to focus on long term cashflow when building and leading an organization"
Owner, Chairman, Acne Studios
The easy, no-nonsense approach to corporate valuation.
Fiona McGuire, Corporate Finance Director FGS
Understanding corporate valuation is crucial for all business people in todays corporate world. No other measure can indicate as completely the current status as well as the future prospects of a company.
The Financial Times Guide to Corporate Valuation is a quick, no-nonsense guide to a complex subject. Whether youre a manager, executive, entrepreneur or student this comprehensive reading guide will help you tailor your learning according to your experience, existing knowledge and time constraints. Using the example of a fictional European telecommunications company, Mobitronics, as a model, it provides key insights into universal issues in corporate valuation and the most commonly used valuation methods.
THE ONLY STRAIGHTFORWARD GUIDE TO CORPORATE VALUATION
Table of Contents and New Edition Content
2 Presentation of Model Company
3 When Do You Need to Value a Company?
4 Company Valuation An Overview
5 Ratio-based Valuation
6 Discounted Cash Flow Valuation
7 Underlying Analysis and Key Value Drivers
8 How to Value Your Company in Practice An Example
9 Value-based Management
Inspirational list of key value drivers
Typical information needed for a valuation
About the authors:
David Frykman is the CEO and owner of Fred Ventures, a private investment company. Previously, he was the CEO and main shareholder of Gymgrossisten (Nasdaq: GYM) and before that a Senior Vice President at Swedbank Markets Corporate Finance. David has also worked with venture capital at Novare Kapital and Spray Investment. In his different roles as owner, board member and CEO, David has conducted a large number of mergers and acquisitions, fund raisings and divestitures. David holds an MSc in economics and finance from Stockholm School of Economics and the Asian Institute of Management as well as a BSc in psychology from Stockholm University.
Jakob Tolleryd is a Swedish serial entrepreneur and investor. He is the founder and investor behind a number of companies in the IT/Internet industry. Among them, Compricer; a price comparison site for services, Easyart; the leading European e-commerce company for art prints and Klikki; one of the leading online marketing consultants in Scandinavia. He is also the founder and former CEO of Carambole, a pan-European web service company and a founder of intellectual property consulting company Cogent IPC. Jakob is a regular lecturer and speaker regarding entrepreneurship, growth companies and corporate valuations. Jakob holds an MSc in economics and finance from the Stockholm School of Economics and the Richard Ivey School of Business in Canada.
Jakob Tolleryd and David Frykman are also the authors of Valuation of Growth Companies: methods and models for valuation of growth companies, written for The Royal Swedish Academy of Engineering Sciences.