Equity Asset Valuation Workbook, Fourth Edition provides the key component of effective learning: practice. This companion workbook conveniently aligns with the text chapter-by-chapter, provides brief chapter summaries to refresh your memory on key points before you begin working, and explicitly lays out the learning objectives so you understand the “why” of each problem. These features reinforce essential theories and their practical application, assist you in gaining proficiency in the core concepts behind these theories, and accurately determine when and how to implement them. Those who self study will find solutions to all exercise problems. This workbook lets you:
- Refresh your memory with succinct chapter summaries
- Enhance your understanding with topic-specific practice problems
- Work toward explicit chapter objectives to internalize key information
- Practice important techniques with real-world applications
For everyone who wants a practical route to mastering the general analysis of stock shares held by individuals and funds, Equity Asset Valuation Workbook, Fourth Edition lives up to its reputation for clarity and world-class practice based on actual scenarios investors face every day.
Table of Contents
Part I Learning Objectives, Summary Overview, and Problems 1
Chapter 1 Overview of Equity Securities 3
Learning Outcomes 3
Summary Overview 3
Problems 5
Chapter 2 Introduction to Industry and Company Analysis 9
Learning Outcomes 9
Summary Overview 10
Problems 12
Chapter 3 Equity Valuation: Concepts and Basic Tools 17
Learning Outcomes 17
Summary Overview 18
Problems 19
Chapter 4 Equity Valuation: Applications and Processes 25
Learning Outcomes 25
Summary Overview 25
Problems 27
Chapter 5 Return Concepts 33
Learning Outcomes 33
Summary Overview 33
Problems 35
Chapter 6 Industry and Company Analysis 41
Learning Outcomes 41
Summary Overview 42
Problems 42
Chapter 7 Discounted Dividend Valuation 49
Learning Outcomes 49
Summary Overview 50
Problems 53
Chapter 8 Free Cash Flow Valuation 67
Learning Outcomes 67
Summary Overview 67
Problems 69
Chapter 9 Market-Based Valuation: Price and Enterprise Value Multiples 87
Learning Outcomes 87
Summary Overview 88
Problems 90
Chapter 10 Residual Income Valuation 103
Learning Outcomes 103
Summary Overview 103
Problems 105
Chapter 11 Private Company Valuation 115
Learning Outcomes 115
Summary Overview 116
Problems 117
Part II Solutions 125
Chapter 1 Overview of Equity Securities 127
Solutions 127
Chapter 2 Introduction to Industry and Company Analysis 129
Solutions 129
Chapter 3 Equity Valuation: Concepts and Basic Tools 133
Solutions 133
Chapter 4 Equity Valuation: Applications and Processes 137
Solutions 137
Chapter 5 Return Concepts 141
Solutions 141
Chapter 6 Industry and Company Analysis 147
Solutions 147
Chapter 7 Discounted Dividend Valuation 151
Solutions 151
Chapter 8 Free Cash Flow Valuation 167
Solutions 167
Chapter 9 Market-Based Valuation: Price and Enterprise Value Multiples 187
Solutions 187
Chapter 10 Residual Income Valuation 197
Solutions 197
Chapter 11 Private Company Valuation 211
Solutions 211
About the CFA Program 215
