LEADER 05599nam 22007453u 450 001 9910826390203321 005 20240404150023.0 010 $a9781119208020 010 $a1119208025 010 $a9781118843048 010 $a1118843045 035 $a(CKB)2550000001280591 035 $a(EBL)1680598 035 $a(SSID)ssj0001215130 035 $a(PQKBManifestationID)11726568 035 $a(PQKBTitleCode)TC0001215130 035 $a(PQKBWorkID)11176034 035 $a(PQKB)10196012 035 $a(PPN)198687656 035 $a(FR-PaCSA)88826911 035 $a(MiAaPQ)EBC1680598 035 $a(FRCYB88826911)88826911 035 $a(EXLCZ)992550000001280591 100 $a20140505d2014|||| u|| | 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Art of Company Valuation and Financial Statement Analysis $eA value investor's guide with real-life case studies 205 $a1st ed. 210 $aHoboken $cWiley$d2014 215 $a1 online resource (264 p.) 225 1 $aThe Wiley Finance Series 300 $aDescription based upon print version of record. 311 08$a9781118843093 311 08$a1118843096 311 08$a9781306706247 311 08$a1306706246 327 $aCover; Title Page; Copyright Page; Contents; Acknowledgements; Preface; 1 Introduction; 1.1 Importance and development of business accountancy; 1.1.1 Limited significance of financial statements; 1.1.2 Special features of the financial sector; 1.2 Composition and structure of financial statements; 1.2.1 Income statement; 1.2.2 Balance sheet; 1.2.3 Cash flow statement; 1.2.4 Statement of changes in equity; 1.2.5 Notes; 2 Key Ratios for Return and Profitability; 2.1 Return on equity; 2.2 Net profit margin; 2.3 EBIT/EBITDA margin; 2.4 Asset turnover; 2.5 Return on assets 327 $a2.6 Return on capital employed 2.7 Operating cash flow margin; 3 Ratios for Financial Stability; 3.1 Equity ratio; 3.2 Gearing; 3.3 Dynamic gearing ratio; 3.4 Net debt/EBITDA; 3.5 Capex ratio; 3.6 Asset depreciation ratio; 3.7 Productive asset investment ratio; 3.8 Cash burn rate; 3.9 Current and non-current assets to total assets ratio; 3.10 Equity to fixed assets ratio and equity and long-term liabilities to fixed assets ratio; 3.11 Goodwill ratio; 4 Ratios for Working Capital Management; 4.1 Days sales outstanding and days payables outstanding; 4.2 Cash ratio; 4.3 Quick ratio 327 $a4.4 Current ratio/working capital ratio 4.5 Inventory intensity; 4.6 Inventory turnover; 4.7 Cash conversion cycle; 4.8 Ratios for order backlog and order intake; 5 Business Model Analysis; 5.1 Circle of competence; 5.2 Characteristics; 5.3 Framework conditions; 5.4 Information procurement; 5.5 Industry and business analysis; 5.6 SWOT analysis; 5.7 Boston Consulting Group (BCG) analysis; 5.8 Competitive strategy; 5.9 Management; 6 Profit Distribution Policy; 6.1 Dividend; 6.2 Share buyback; 6.3 Conclusion; 7 Valuation Ratios; 7.1 Price-to-earnings ratio; 7.2 Price-to-book ratio 327 $a7.3 Price-to-cash flow ratio 7.4 Price-to-sales ratio; 7.5 Enterprise value approach; 7.6 EV/EBITDA; 7.7 EV/EBIT; 7.8 EV/FCF; 7.9 EV/sales; 8 Company Valuation; 8.1 Discounted cash flow model; 8.1.1 Equity approach; 8.1.2 Entity approach; 8.1.3 Adjusted-present-value (APV) approach; 8.1.4 Operating and financial leverage; 8.1.5 Alternative use of DCF models; 8.1.6 DCF case studies; 8.2 Valuation using multiples; 8.2.1 Fair price-to-earnings ratio; 8.2.2 Fair price-to-book ratio; 8.2.3 Fair price-to-sales ratio; 8.2.4 Fair enterprise value-to-EBIT ratio; 8.2.5 Fair EV/sales 327 $a8.2.6 Multiple valuation: mathematical background 8.2.7 Liquidation approach/net-asset-value approach; 8.3 Financial statement adjustments; 8.3.1 Pro-forma statements and one-off effects; 8.4 Overview of the valuation methods; 9 Value Investing; 9.1 Margin of safety approach; 9.2 Value investing strategies; 9.2.1 Quality investments; 9.2.2 Cigarbutt investments; 9.2.3 Net-nets/arbitrage; 9.3 The identification of investment opportunities; 9.4 Portfolio management; 9.4.1 Diversification; 9.4.2 Risk; 9.4.3 Cash; 9.5 Buying and selling: investment horizon; 9.5.1 Buying; 9.5.2 Selling 327 $a9.6 Conclusion 330 $aThe Art of Company Valuation and Financial Statement Analysis: A value investor's guide with real-life case studies covers all quantitative and qualitative approaches needed to evaluate the past and forecast the future performance of a company in a practical manner. Is a given stock over or undervalued? How can the future prospects of a company be evaluated? How can complex valuation methods be applied in practice? The Art of Company Valuation and Financial Statement Analysis answers each of these questions and conveys the principles of company valuation in an accessible 410 0$aWiley finance series. 606 $aConsolidation and merger of corporations 606 $aCorporations -- Finance 606 $aCorporations -- Valuation 606 $aInvestment analysis 615 4$aConsolidation and merger of corporations. 615 4$aCorporations -- Finance. 615 4$aCorporations -- Valuation. 615 4$aInvestment analysis. 676 $a658.16 676 $a658.162 700 $aSchmidlin$b Nicolas$01629821 801 0$bAU-PeEL 801 1$bAU-PeEL 801 2$bAU-PeEL 906 $aBOOK 912 $a9910826390203321 996 $aThe Art of Company Valuation and Financial Statement Analysis$93967799 997 $aUNINA