Comparable multiples met - Study guides, Class notes & Summaries

Replacement Cost Method - ANSWERSdetermining what it would cost to start the company from scratch today. Hard to estimate intangible assets. Used least, under estimates as it ignores growth. Comparable Multiples Method - ANSWERScomparing similar firms to determine valuation. Uses PE (price/earnings) ratio Earnings yield - ANSWERSearnings/price; more accurate when earnings are close to zero Discounting Cash Flow (DCF) method - ANSWERSdetermines value of any asset using Free Cash Flow; th...

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"If the market is what matters, when valuing a public company, do we even need a comps analysis? Why not just use the market cap of the company directly to value it?" - Correct Answer • If the market was perfectly efficient, it stands to reason that it would price individual equities correctly rendering a comps analysis pointless. • However, the thinking behind a comps analysis for a public company is that the market may be efficient on average, but it can be off when pricing i...