PDF-Aswath Damodaran1Present ValueAswath Damodaran

Aswath Damodaran2Intuition Behind Present ValuenThere are three reasons why a dollar tomorrow is worth less than adollar today. The company had the following characteristics Aftertax Operating Margin 1856 SalesBV of Capital 167 Return on Capital 167 1856 3102 Reinvestment Rate 6500 in high growth 20 in stable growth Expected Growth 3102 065 2016 Stable Growth Rate6 Leng Aswath Damodaran2Discounted Cashflow Valuation: Basis forApproachwhere CFt is the cash flow in period t, r is the discount rate appropriategiven the riskiness of the cash flow and t is the life of th ! ! ! ! ! ! Aswath Damodaran!7!The Four Steps to Understanding Multiples!!!De ‹#›. Aswath Damodaran. 1. The Closing Argument. Aswath Damodaran. 2. Back to the very beginning:. Approaches to Valuation. Discounted Cashflow Valuation. , where we try (sometimes desperately) to estimate the intrinsic value of an asset by using a mix of theory, guesswork and prayer.. ‹#›. Aswath Damodaran. 1. The Closing Argument. Aswath Damodaran. 2. Back to the very beginning:. Approaches to Valuation. Discounted Cashflow Valuation. , where we try (sometimes desperately) to estimate the intrinsic value of an asset by using a mix of theory, guesswork and prayer.. ‹#›. Aswath Damodaran. 1. Distress, Dilution and Illiquidity. Aswath Damodaran. 2. 1. . . Equity to Employees: Effect on Value. In recent years, firms have turned to giving employees (and especially top managers) equity option or . dilution . and liquidity . ‹#›. Aswath Damodaran. 1. Distress, Dilution and Illiquidity. Aswath Damodaran. 2. 1. . . Equity to Employees: Effect on Value. Employee options and restricted stock are now part of compensation packages.. ‹#›. Aswath Damodaran. 1. Valuing Commodity & Cyclical Companies. Aswath Damodaran. 2. Valuing cyclical and commodity companies. Aswath Damodaran. 3. Lesson 1: The Operating Numbers will ebb and flow. 18: Book Value Multiples. ‹#›. Aswath Damodaran. 1. Accounting Value... Aswath Damodaran. 2. III. Price to Book Ratio. Going back to a simple dividend discount model,. Defining the return on equity (ROE) = EPS0 / Book Value of Equity, the value of equity can be written as:. Relative Risk. Aswath Damodaran. ‹#›. Aswath Damodaran. 1. It’s all relative. Aswath Damodaran. 2. ‹#›. Aswath Damodaran. 3. The Default: The CAPM Beta. Rj. . = a + b . Rm. The . slope of the regression corresponds to the beta of the stock, and measures the riskiness of the stock. . PROGRAM STUDI AKUNTANSI. FAKULTAS . EKONOMI DAN BISNIS. UNIVERSITAS ESA UNGGUL. E. BA 919. PENILAIAN . A. SSET & BISNIS. PERTEMUAN . #. 8. 1. Damodaran. Employee Options, Restricted Stock and . V. ‹#›. Aswath Damodaran. 1. The Option to Delay. Aswath Damodaran. 2. The Option to Delay. Aswath Damodaran. 3. Present Value of Expected . Cash Flows on Product. PV of Cash Flows . from Project. Initial Investment in . Aswath Damodaran. Aswath Damodaran. 1. Baby steps... Aswath Damodaran. 2. Some Initial Thoughts. 3. Misconceptions about Valuation. Valuation is not a science.. All valuations are biased. The degree of bias is determined by who pays you to do the valuation. Mrudula. . Vaidya. Pratyush. . Bangera. CONTENTS. Introduction. Goals. Construction. Circuits. Working. Problems Solved. Cost Analysis. Future Scope. INTRODUCTION. Standard fans are widely used in personal office spaces..