Business Valuation: Top 14 Resources to Build Your Expertise

Getting Started with Business Valuation

A strong foundation in valuation is essential for finance professionals in investment banking, equity research, and private equity. This curated list of resources covers key concepts, techniques, and real-world applications to help you build confidence and take the next step in your learning journey.

Build Your Valuation Foundations

Every strong valuation skill set starts with a clear understanding of the basics. These resources cover the core principles and terms that form the foundation of effective business valuation.

1. Valuation Overview

Gain familiarity with the key principles and methods of business valuation, laying the groundwork for understanding how companies are valued in different contexts.

2. Intrinsic Value vs. Market Value

Learn the difference between a company’s estimated intrinsic value based on fundamentals and its market value based on current trading prices. Understanding this distinction is key to interpreting valuation results and identifying potential mispricings.

3. Enterprise Value vs Equity Value

Understanding the difference between enterprise value and equity value is critical for interpreting valuation outcomes. This resource clarifies both concepts with practical examples.

Market Valuation Approach (Relative Value)

Once you understand the fundamentals, it’s important to explore how companies are valued relative to others in the market. These resources focus on market-based valuation techniques, including comparable company analysis and precedent transactions, which help estimate value using real-world data.

4. Comparable Company Analysis

Learn how to identify peers, apply valuation multiples, and interpret comparables analysis results. This guide helps you estimate a company’s value relative to similar businesses.

5. Precedent Transaction Analysis

Gain insights into valuing a company based on actual M&A deals. It highlights how to source relevant transactions, adjust for timing and market factors, and interpret deal premiums.

6. EBITDA Multiple

Explore how the EBITDA multiple is used to assess company value quickly and why it’s a common metric in comparables analysis. A must-know concept for relative valuation techniques.

7. Football Field Chart Template

A football field chart summarizes valuation ranges from multiple methods in a clear, visual format. This resource shows you how to present different valuation outcomes side-by-side for easy comparison.

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Discounted Cash Flow Approach (Intrinsic Value)

Intrinsic valuation techniques dive deeper into a company’s financial fundamentals. These resources guide you through cash flow principles, discounted cash flow (DCF) modeling, and calculating terminal value, which are all critical to estimate a company’s worth.

8. Ultimate Cash Flow Guide

Cash flow is the foundation of many valuation models. This guide explains the different types of cash flow and how to apply them correctly in valuation and financial modeling.

9. Weighted Average Cost of Capital (WACC)

WACC represents the average rate a company is expected to pay to finance its assets. This guide explains how to calculate and apply WACC when building a DCF valuation.

10. DCF Model Training Free Guide

Build a deeper understanding of how DCF models are structured and why forecasting cash flows and discounting them properly is so important. A great hands-on starting point.

11. DCF Model Template

This free template gives you a head start on building a professional-quality DCF model. Use it to practice structuring cash flows, setting assumptions, and calculating intrinsic value.

12. Terminal Value

Terminal value often represents a large portion of a company’s DCF valuation. This article explains the two primary methods for calculating terminal value and when to use each.

Advanced Valuation Analysis

As you grow more comfortable with core valuation methods, advanced techniques like merger modeling and leveraged buyouts (LBOs) add new dimensions to your analysis. These resources introduce you to more complex models used in investment banking, private equity, and corporate finance.

13. How to Build a Merger Model

Learn how to structure a merger model, assess deal impact on earnings per share, and analyze value creation through synergies and cost savings.

14. Leveraged Buyout (LBO) Modeling

Explore how private equity firms use debt financing to enhance investment returns, from the mechanics of LBO models to how they differ from traditional valuations.

Strengthen Your Valuation Skills with the Right Learning Path

Building expertise in business valuation takes more than just understanding the basics. It requires practice, application, and continued growth. While the resources in this guide offer a strong foundation, structured training can take your skills even further and prepare you for real-world challenges.

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Additional Resources

Learning Valuation: Essential Models, Skills, and Tools for Success

Financial Benchmarking: Comparing Company Performance Relative to Peers

Demystifying Leveraged Buyout Returns: Financial Leverage and Equity Gains Explained

See all Valuation resources