Resources on Valuation of Companies

Here are some excellent valuation resources as originally compiled by the team at Clark Square Capital

  1. The P/E Ratio: A User’s Manual –  Steven Bleiberg and William W. Priest, CFA, Epoch Investment Partners (2019)
  2. Getting ROIC Right: How an Accurate View of ROIC Can Drive Improved Shareholder Value  – EY, New Constructs
  3. What Does a Price-Earnings Multiple Mean? – Michael Mauboussin, Credit Suisse (2014)
  4. What Does an EV/EBITDA Multiple Mean? – Michael Mauboussin, Blue Mountain Capital (2018)
  5. Calculating Return on Invested Capital: How to Determine ROIC and Address Common Issues – Michael Mauboussin, Credit Suisse (2014)
  6. Thoughts on Valuation – Michael Mauboussin, CSFB (1997)
  7. Equity Valuation – Understanding What’s Important, Goldman Sachs (2009)
  8. Primer on the ROIC Valuation Framework – Bear Stearns (2004)
  9. Common Errors in DCF Models– Michael Mauboussin, Legg Mason (2006)
  10. Valuation Multiples: A Primer – UBS (2001)
  11. DCF Methodology – Bear Stearns (2005)
  12. Thoughts on Valuation II: An Epistemological View – Michael Mauboussin, CSFB (2001)
  13. Valuation resources – Professor Damodaran.
  14. Valuing Subscription-Based Businesses Using Publicly Disclosed Customer Data – Daniel McCarthy, Peter Fader, and Bruce Hardie
  15. Networking Industry: Does Valuation Matter? – Robertson, Stephens, & Company (1997)
  16. Finding the Right P/E Multiple – Or How to Handicap a Stock – Geoff Gannon of Focused Compounding (2017)
  17. The Math of Value and Growth – Michael Mauboussin, Consilient Observer at Morgan Stanley (2020)
  18. Mind Matters: The Dangers of DCF – James Montier, Societe Generale (2008)
  19. The Trouble with Earnings and P/E Multiples – Rappaport and Mauboussin, (2001)
  20. Calculating Incremental ROIC’s – Hayden Capital (2017) 
  21. Questions About ROIC & Valuation – Intrinsic Investing (2016)
  22. The Role of Growth in Achieving Superior Value Creation – The Boston Consulting Group (2006) 
  23. Thinking Competitive Advantage Periods – Bill Mahoney (2002) 
  24. M&M on valuation – Michael Mauboussin (2005)
  25. WACC and Vol: Valuation for Companies with Real Options – Michael Mauboussin (2020)

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