Price and Value : A Guide to Equity Market Valuation Metrics / by George Calhoun.

Format:

Book

Author/Creator:

Calhoun, George., Author.

Series:

Stevens Institute of Technology quantitative finance series

Language:

English

Subjects (All):

Bank marketing.

Business enterprises--Finance.

Business enterprises.

Financial Services.

Business Finance.

Local Subjects:

Financial Services.

Business Finance.

Physical Description:

1 online resource (412 pages)

Edition:

1st ed. 2020.

Other Title:

Guide to equity market valuation metrics

Place of Publication:

Berkeley, CA : Apress : Imprint: Apress, 2020.

System Details:

text file

Summary:

Understand how to use equity market metrics such as the price/earnings ratio (and other multiples) to value public and private enterprises—identify and qualify investments and assess business strategy and performance. Author George Calhoun, Founding Director of the Quantitative Finance Program at Stevens Institute of Technology, shows you how to use metrics to appraise mergers, acquisitions, and spin-offs. You will be able to shed light on financial market conditions, benchmark fair value assessments, and check and calibrate complex cash flow models. While multiples are easy to construct, they can be difficult to interpret. The field has become more complex and the question of which metrics perform best can be a source of controversy. You will; Know the definitions, interpretations, and applications of all major market ratios, including: price/earnings (trailing and forward), cyclically adjusted price/earnings, cash-adjusted price/earnings, EV/EBITDA, price/sales, dividend yield, and many more Examine the factors that drive the values of ratios from firm level (such as earnings growth, leverage, and governance) to market level (such as inflation, tax and fiscal policy, monetary policy, and international characteristics) Apply metrics in: investment analysis, index construction, factor models, sum-of-the-parts analysis of corporate structures, and detection of asset bubbles.

Contents:

Chapter 1: The Ford Dollar: The Mysterious Multiple

Chapter 2: The Value Triangle

Chapter 3: Valuation Ratios

Chapter 4: Interpretations: P/E as a Dependent Variable

Chapter 5: Applications: P/E as an Independent Variable

Chapter 6: Assessments and Qualifications

Afterword: Fair Price, True Value

Appendix: A Critical Examination of Discounted Cash Flow Valuation Methods.-.

Notes:

Includes index.

Includes bibliographical references.

ISBN:

9781484255520

1484255526

OCLC:

1165363913