DCF avec les fonctions Excel

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Cet exercice fait partie du cours

Introduction à l’évaluation d’entreprise

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This chapter introduces key valuation techniques and the principles behind them. It also introduces football field charts, used extensively to visualize the results of a business valuation

Exercise 1: Course Introduction Exercise 2: Why Perform Valuation Exercise 3: Valuation is an Art and a Science Exercise 4: Valuation Reasons Exercise 5: Valuation Techniques Exercise 6: Focus of this Course Exercise 7: Company Valuation Methods Exercise 8: Football Field Chart Exercise 9: Check-in 1

This chapter explores the differences between enterprise value and equity value, including their calculations, advantages, and key valuation multiple. It also emphasizes the importance of numerator/denominator consistency in financial analysis.

Exercise 1: Enterprise Value vs Equity Value Exercise 2: Value of a House Exercise 3: Calculating Enterprise Value Exercise 4: Enterprise Valuation Exercise 5: Enterprise vs Equity Mulitple Exercise 6: Advantages and Disadvantages of Enterprise and Equity Value Exercise 7: Enterprise and Equity Value Exercise 8: Check-in 2 Exercise 9: Valuation Consistency Exercise 10: Multiples

This chapter provides a comprehensive guide to discounted cash flow (DCF) valuation, covering free cash flow types, key assumptions, forecasting, and UFCF calculation. It covers the cost of capital, including the weighted average cost of capital (WACC), the Capital Asset Pricing Model (CAPM), equity risk factors, and industry beta.

Exercise 1: Types of Free Cash Flows Exercise 2: Numerator and Denominator Consistency Exercise 3: Two Parts to a DCF Forecast Exercise 4: Key Assumptions Exercise 5: Unlevered Free Cash Flow Calculations Exercise 6: Introduction to the Main Model Exercise 7: Calculating UFCF Overview Exercise 8: Calculating UFCF Walkthrough Exercise 9: Mid-point Checkin Exercise 10: Calculating UCFC Exercise 11: Spectrum of risk Exercise 12: Calculating WACC Exercise 13: Capital Asset Pricing Model Exercise 14: Cost of Equity Factors Exercise 15: Understanding the CAPM Exercise 16: Beta and Industry Beta Exercise 17: WACC Calculation Scatter Plot Exercise 18: Calculating WACC Slope Function Exercise 19: Industry Beta Exercise 20: Weighted Average Cost of Capital Exercise 21: Discounting UFCF

Firstly, This chapter explores terminal value in discounted cash flow (DCF) analysis, covering different calculation methods, value per share estimation, and the advantages and disadvantages of DCF valuation. Secondly, it focuses on calculating net present value (NPV) and internal rate of return (IRR) using Excel functions, covering standard and extended formulas and practical modeling applications. Lastly, it covers the principles of relative valuation, including the selection of appropriate valuation multiples, firm life cycle considerations, and the advantages and disadvantages of this approach.

Exercise 1: Méthodes de valeur terminale Exercise 2: Guide pas à pas sur la valeur terminale Exercise 3: Calcul du taux terminal Exercise 4: Calcul du prix par action Exercise 5: Avantages et limites du DCF Exercise 6: Fonction NPV Exercise 7: Fonction XNPV Exercise 8: Taux de rentabilité interne Exercise 9: DCF avec les fonctions Excel

Exercice en cours

Exercise 10: Appliquer les fonctions Excel dans notre modèle, partie 1 Exercise 11: Appliquer les fonctions Excel dans notre modèle – Partie 2 Exercise 12: Définition du taux de rentabilité interne Exercise 13: Point d’étape 4 Exercise 14: Valorisation relative Exercise 15: Multiple approprié Exercise 16: Cycle de vie d’une entreprise Exercise 17: Avantages et limites de l’évaluation relative Exercise 18: Différences entre multiples Exercise 19: Calcul des multiples

This chapter covers comparable company valuation, including selecting appropriate comps, distinguishing between good and bad comps, using Capital IQ, and building a valuation model through a step-by-step walkthrough. It also explores precedent transaction analysis, covering the transaction selection process, valuation techniques, and the use of a football field chart to compare valuation ranges effectively.

Exercise 1: Selecting Comps Exercise 2: Good Comps Exercise 3: Bad Comps Exercise 4: Capital IQ Comps Exercise 5: Comparable Company Valuation Model Introduction Exercise 6: Comparable Company Valuation Walkthrough Exercise 7: Check-in 5 Exercise 8: Transactions Analysis Process Exercise 9: Selecting Transactions Exercise 10: Precedent Transaction Valuation Exercise 11: Building a Football Field Chart Exercise 12: Course Summary