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The Art of Company Valuation and Financial Statement Analysis: A Value Investor’s Guide with Real-life Case Studies

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The Art of Company Valuation and Financial Statement Analysis: A Value Investor’s Guide with Real-life Case Studies.

This book looks at the valuation and financial statement analysis of listed companies. Another suitable title could have been ‘Not another book on company valuation!’ Amazon.com displays more than 5,000 hits for this topic and a further 4,000 hits for financial statement analysis. Why do we need another book on this subject? Maybe you have noticed that the introductory quotation stems not from a famous economist, entrepreneur or investor, but from an artist. Company valuation is more art than science.

The figures and ratios that we obtain from any fundamental analysis do give us an overview, but figures are not everything. If pure calculation and comparison of key figures and ratios were sufficient for identifying undervalued or promising enterprises, this book would be superfluous and a computer could carry out all the necessary work in seconds. This is not the case. The findings that we derive from fundamental analysis only let us draw conclusions about how a company has developed thus far. Factors from a variety of areas, especially qualitative ones, will contribute to its future development. Financial market theory struggles with this fact. Most of today’s textbooks consist of abstract formulae, are full of Greek letters, and tend to be difficult to understand. This book, however, attempts to convey company valuation and fundamental analysis in a pragmatic, lively and case study-oriented style. It aims to give comprehensive and practical insight into company analysis and valuation in particular by considering alternative approaches in addition to established methods.

The analysis described in this book is carried out with an entrepreneur in mind. It is analysis intended for shareholders who understand that they own shares in a real company, with real employees, real products and (hopefully) real cash flows. The aim of this book is to be a tool that aids the analysis and decision making of such an enterprising investor, rather than a short-term-oriented speculator. Pure figures are one thing, evaluating them reasonably altogether another. Together they form pieces of the puzzle that will reveal a picture of the intrinsic value of a company.

In contrast to other textbooks on company valuation, this book largely dispenses with complicated mathematical formulae and abstract explanations. It aims to be a guide to practical and pragmatic company valuation instead of conveying dry, overly complex and often impractical theory. Source: The Art of Company Valuation and Financial Statement Analysis: A Value Investor’s Guide with Real-life Case Studies.

The Art of Company Valuation and Financial Statement Analysis book cover

The Art of Company Valuation and Financial Statement Analysis pdf

Book info The Art of Company Valuation and Financial Statement Analysis

Book Title: The Art of Company Valuation and Financial Statement Analysis: A Value Investor’s Guide with Real-life Case Studies
Author: Nicolas Schmidlin
Category: Fiance
Language: English
Pages: 266 Pages

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