Price and value: a guide to equity market valuation metrics

By:

Calhoun, George

Material type: Text

TextPublication details: Apress New Jersey 2020Description: xxxi, 391 pISBN:

9781484255513

Subject(s):

DDC classification:

338.52 CAL

Summary: About this book Understand how to use equity market metrics such as the price/earnings ratio (and other multiples) to value public and private enterprises—identify and qualify investments and assess business strategy and performance. Author George Calhoun, Founding Director of the Quantitative Finance Program at Stevens Institute of Technology, shows you how to use metrics to appraise mergers, acquisitions, and spin-offs. You will be able to shed light on financial market conditions, benchmark fair value assessments, and check and calibrate complex cash flow models. While multiples are easy to construct, they can be difficult to interpret. The field has become more complex and the question of which metrics perform best can be a source of controversy. You will; Know the definitions, interpretations, and applications of all major market ratios, including: price/earnings (trailing and forward), cyclically adjusted price/earnings, cash-adjusted price/earnings, EV/EBITDA, price/sales, dividend yield, and many more Examine the factors that drive the values of ratios from firm level (such as earnings growth, leverage, and governance) to market level (such as inflation, tax and fiscal policy, monetary policy, and international characteristics) Apply metrics in: investment analysis, index construction, factor models, sum-of-the-parts analysis of corporate structures, and detection of asset bubbles

List(s) this item appears in: Operation & quantitative Techniques

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Operations Management & Quantitative Techniques	338.52 CAL (Browse shelf(Opens below))	1	Available		002854

About this book
Understand how to use equity market metrics such as the price/earnings ratio (and other multiples) to value public and private enterprises—identify and qualify investments and assess business strategy and performance.

Author George Calhoun, Founding Director of the Quantitative Finance Program at Stevens Institute of Technology, shows you how to use metrics to appraise mergers, acquisitions, and spin-offs. You will be able to shed light on financial market conditions, benchmark fair value assessments, and check and calibrate complex cash flow models.

While multiples are easy to construct, they can be difficult to interpret. The field has become more complex and the question of which metrics perform best can be a source of controversy.

You will;
Know the definitions, interpretations, and applications of all major market ratios, including: price/earnings (trailing and forward), cyclically adjusted price/earnings, cash-adjusted price/earnings, EV/EBITDA, price/sales, dividend yield, and many more
Examine the factors that drive the values of ratios from firm level (such as earnings growth, leverage, and governance) to market level (such as inflation, tax and fiscal policy, monetary policy, and international characteristics)
Apply metrics in: investment analysis, index construction, factor models, sum-of-the-parts analysis of corporate structures, and detection of asset bubbles

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