Understand the business
Read the financials, understand the business model and identify what drives value.
Our approach
The process matters.
So does the discussion.
Understand the company. Select the methods. Build the model. Then put the assumptions up for review.
From question to valuation
A clear process.
A stronger point of view.
Members work through company-specific questions using financial statements, corporate finance fundamentals and a common modeling framework.
Make the assumptions
Choose the right methods and turn your reasoning into a transparent Excel model.
Challenge the result
Compare approaches, discuss sensitivities and review the valuation with peers.
Choose the right lens
Different questions.
Different methods.
Explore the four perspectives represented in our shared valuation workbook.
Discounted cash flow
Start with the cash a business can generate.
DCF connects operating assumptions to future free cash flow, a discount rate and a terminal value. The analysis is only as meaningful as the assumptions behind it.
- Revenue, margins and reinvestment
- Cost of capital and terminal growth
- Sensitivity to the key drivers
Future cash flows → Present value
Market Multiples
Put the company in context.
Compare valuation metrics with relevant peers and transactions. Our workbook separates trading, SME and transaction multiples and reconciles enterprise value to equity value.
- EV / Revenue, EV / EBITDA and EV / EBIT
- Peer relevance and comparability
- Enterprise-to-equity value bridge
Company metric × Selected multiple
Net Asset Value
Look closely at what is there.
An asset-based perspective examines the value of tangible, intangible and financial assets alongside liabilities. It adds another lens to the company-specific analysis.
- Asset categories and fair value inputs
- Liabilities and adjustments
- Net asset value reconciliation
Asset value − Liabilities
Residual Income
Ask what earnings add beyond the capital charge.
The residual income module starts with book equity and examines earnings above the required return on equity. It offers an equity-focused perspective alongside the other approaches.
- Book equity and return assumptions
- Cost of equity and residual income
- Present value of future residual earnings
Book equity + PV of residual income
The common foundation
One framework.
Room for judgment.
Our Excel model makes assumptions visible and analysis easier to review.
Control settings, capital costs, historical financials and method-specific modules flow into a shared output dashboard. Members develop the framework as cases demand more detail.
Explore the model SVN / Valuation frameworkv1.0
From our shared workbook
The logic behind the value.
Illustrative inputs · EUR thousandsRevenue · 2026103.00
EBITDA · 202643.26
Free cash flow · 202631.83
Inputs → Forecasts → Valuation → ReviewExplore the model ↗
The review conversation
Don’t just defend the answer.
Improve the thinking.
Do the pieces fit?
Check whether forecasts, capital needs and the business model tell a coherent story.
What moves the result?
Examine how key inputs change the outcome and identify what deserves more research.
What does another method say?
Compare valuation approaches and discuss why their results may differ.
Shape what comes next
Your curiosity.
Our next chapter.
Join a growing student network and help build a more rigorous approach to valuation.