Company Valuations

These are excel spreadsheets with the valuations that are included in the lecture notes. Feel free to download them and have fun changing the inputs or updating the information


DCF Valuations

Con Ed: A Stable Growth Dividend Discount Valuation
ABN Amro: A Two-stage Dividend Discount Model Valuation
Goldman Sachs: A Three-Stage Dividend Discount Model Valuation
S&P 500: A Conservative Dividend Valuation
S&P 500: A FCFE Valuation
Tsingtao Breweries: Valuation with Changing ROE...
Aracruz Celulose: Normaliziung Earnings
Tube Investments: A Two-stage FCFF Valuation
Tube Investments: Higher Marginal Return on Capital
Tuble Investments: Higher Return on Capital (both existing assets and marginal)
Embraer: Valuation of an emerging market company with significant international sales
Hyundai Heavy: The cross holding effect
Amazon.com in January 2000: A Valuation of a Company on the Dark Side
Amazon.com in January 2001
Amazon.com in July 2002
Amazon.com in October 2003

Amgen: The R&D Adjustment
Sears: A company in decline
Global Crossing: Valuing a company in distress

Other valuations
Sony: A Stable Growth FCFE Valuation
Brahma: A Three-stage FCFE Valuation
Brahma: An Updated Valuation
The Home Depot: An Operating Lease Adjusted Valuation

Relative Valuations

PE and Fundamentals
Developed Market PE Ratios: 2000
Emerging Market PE Ratios: 2000
US Market PE Ratios: 1960-2000
Beverage Companies
Global Telecommunication firms
PEG Ratios and Fundamentals
Beverage Company PEG Ratios
Relative PE and Fundamentals
Auto firm Relative PE ratios
Value/EBITDA and Fundamentals
Trucking Company Value/EBITDA Multiples
PBV Ratio and Fundamentals
Oil Company PBV Ratios: 2000
Large Cap PBV Ratios
Bank PBV Ratios
IBM: PBV and ROE
Value/Book and Fundamentals
PS Ratios and Fundamentals
Greek Retailers PS ratios
Internet Stock PS Ratios
Coca Cola: Valuing a Brand Name

Option Pricing Applications in Valuation

Value of Avonex: A Patent Valuation
Value of Financial Flexibility: Disney
Eurotunnel DCF Valuation
Eurotunnel Option Pricing Valuation

Acquisition Valuation

Valuing Digital (status quo)
Valuing Digital (optimally managed)
Valuing Compaq (stand-alone)
Valuing Compaq-Digital (no synergy)
Valuing Compaq-Digital (with synergy)

Value Enhancement

Valuing Compaq (status quo)
Valuing Compaq (restructured)
Valuing Telecom Italia (status quo)
Valuing Telecom Italia (restructured
Compaq's optimal capital structure
Telecom Italia's optimal capital structure