Valuation Using Financial Statements

By Philip D. Drake, Gregory A. Sommers, Peter D. Easton, et al.

Formerly published by Cambridge Business Publishers, now published by Sage

Valuation Using Financial Statements, Third Edition is designed to teach students how to value companies using accounting and cash-flow information drawn directly from financial statements. The book provides a clear, structured roadmap for valuation, guiding readers through financial statement reformulation, profitability analysis, forecasting, cost of capital estimation, and the application of valuation models. Written as a practical guidebook, the authors walk students step by step through the valuation process using a single, continuous company example--Kooper Tire & Rubber. Beginning with the company's Form 10-K and concluding with an estimate of equity value, every stage of the valuation process is demonstrated in detail and reinforced through a comprehensive valuation spreadsheet.

The text emphasizes readability and practical implementation, helping students understand not only how valuation models work, but when and why they should be used. By focusing on enterprise valuation and clearly linking forecasting assumptions to valuation outcomes, the book prepares students to perform independent, real-world company valuations.

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• Format: Paperback
• Language: English
• ISBN: 1618535722
• ISBN13: 9781618535726
• Release Date: May 2023
• Publisher: Sage Publications, Inc
• Weight: 2.55 lbs.