[CANCELLED] Advanced Financial Analysis Series - Corporate Valuation Methodologies & Valuation Modelling

Event Details (Code: 191017W-CEX)

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HKSFA is proud to present our “Advanced Financial Analysis Series" held in conjunction with Wall Street Training & Advisory. This Series of workshops builds upon and expands our prior successful and popular Financial Analysis Series and will provide practical, Excel-based career-enhancing programmes related to financial modelling, projection modelling, fundamental analysis, mergers & acquisitions and leveraged buyouts. This series of hands-on workshops will consist of the following full-day, extended programmes:
The goal of these programmes is to improve and elevate the skills sets of the financial analyst and the investment professional. Heavy emphasis is placed on being as effective and efficient as possible with Excel.

Highlights of this Workshop:


How can you tell if a company is undervalued or overvalued?  Is the current stock price the only measure of value?  Why would one company command a higher or lower premium than its direct competitor?  This course takes a practical, tangible, and non-theoretical approach to examining how corporations are valued and the major analytical tools that are used.  Go beyond the academic theory of financial ratios and apply fundamental analysis and real-world methods of evaluating a company’s intrinsic value.  Gain insight into relative valuation methodologies (trading comps, deal comps) to fundamental valuation (discounted cash flow analysis, break-up / sum of the parts valuation).  Coverage goes beyond the academic theory of financial ratios to the practical application of fundamental analysis, offering real-world methods of evaluating a company's intrinsic value.  
The second half of this course builds on the first half and is hands-on, interactive and Excel-based. Apply the concepts learned in the discussion portion and perform relative valuation modeling techniques in Excel.  Build a quick and dirty trading comps analysis by inputting historical results and analyst projections for comparable companies and calculating current standalone market valuation multiples.  Then, construct a detailed comprehensive reference range analysis that quantifies valuation methodologies.  Crystallize and appreciate the relationship between capital structure and enterprise value, equity value and price per share.  Finally, build and update dynamic football field to graphically summarize valuation metrics.  These tools are useful for any financial professional interested in analyzing a company.
Learning Goals:
Corporate Valuation and Corporate Finance Fundamentals:
  • Enterprise Value (TEV): what is the correct treatment of minority interest and capital leases from a standalone valuation aspect vs. credit perspective vs. change of control
  • What is the relevance of capital structure and leverage on a company’s value?
  • Why and how is corporate finance so critical to managing a firm’s profitability?
  • Why is P/E the root of all evil in valuation? – Learn the correct way to use multiples
  • Why are P/E ratios misunderstood and what other ratios are more important?
  • Utilize the correct numerator for multiples and calculating implied value 
Valuation Modeling:
  • Construct discounted cash flow analysis by estimating unlevered free cash flow (FCFF)
  • Discuss proxy methods for calculating working capital without full blown BS projection
  • Terminal Value estimation: what are the differences between the EBITDA multiple and perpetuity growth approaches and what are the implications on value? 
  • Learn subtle nuances including the proper CF figure in perpetuity growth models
  • Calculate from TEV down to equity value and ultimately down to stock price per share
  • Build a basic, quick and dirty, back-of-the-envelope trading comps analysis 
  • Input historical results and analyst projections for public comparable companies 
  • Construct relative valuation analysis and calculate current valuation multiples
  • Build reference range that quantifies fundamental / relative valuation methodologies
  • Crystallize and appreciate capital structure relationship of TEV, equity value and price 
  • Build and update dynamic football field to graphically summarize valuation metrics 
  • Analyze, discuss, compare and contrast valuation results
Prerequisite: Intermediate proficiency using Excel and a solid grasp of basic accounting and finance fundamentals is required. 
Rating - Intermediate
Material presented will have technical elements requiring a working knowledge of the subject to make full use of the presentation.  

We analyzed the current learning process in finance and Wall Street, figured out how teaching and training should be done and then implemented our learning processes. Our strengths include:
  • Hands-on, interactive, practical, non-theoretical, no "b.s." approach 
  • Fast-paced learning where the goal is for participants to become experts and extremely efficient to spend more time on analysis of the numbers rather than pure number crunching 
  • Training modules replicate exactly how it is done on Wall Street 
  • Ability to translate difficult and advanced concepts into plain English while providing detailed explanations and intricacies that integrate a variety of disparate topics into one focused theme
  • Teach nuances and real-life intricacies, not just basic how-to; we teach the rules and exceptions!
  • Models that are built more cleanly and efficiently and are meant to be self-contained templates 
To learn more, visit   
  • Special Discount: 10% off for those who register for two (or more) workshops. This discount is automatically deducted when you register for the second and third workshops.
  • Only Visa and Master Card are accepted for online payment.
  • The fee includes course materials.
  • Classrooms are not equipped with computers, participants WILL HAVE to bring their own laptops.  Please install Excel for PC (any version).  Macs will not be as effective as shortcut keys are different.
  • Please make sure your laptop has a working USB port to copy files at the beginning of class.
  • For attendance-taking purpose, participants’ names and company name (if any) will be given to the speaker at this workshop.
  • An additional administrative charge of HK$50 will be charged for participant who registers on the event day,please send email to for registration, then a payment link will be sent to you. 
  • HK$50 walk-in surcharge is imposed on all fees listed.
  • To cope with the growing trend of going cashless, cash payment is not accepted.  Please ensure the online payment is successfully completed, otherwise the registration may not be processed.