What Will I Learn
When you are done with this course, you will be able to:
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Curriculum
Overview Of Equity Securities
- Characteristics of types of equity securities
- Describe differences in voting rights and other ownership characteristics among different equity classes
- Public and private equity securities
- Methods for investing in non-domestic equity securities
- The market value and book value of equity securities
- Compare a company’s cost of equity, its (accounting) return on equity, and investors’ required rates of return
Introduction To Industry And Company Analysis- I
- Uses of industry analysis and the relation of industry analysis to company analysis
- Compare methods by which companies can be grouped, current industry classification systems, and classify a company, given a description of its activities and the classification system
- Explain the factors that affect the sensitivity of a company to the business cycle and the uses and limitations of industry and company descriptors such as “growth,” “defensive,” and “cyclical”
- Learn how a company’s industry classification can be used to identify a potential “peer group” for equity valuation
Introduction To Industry And Company Analysis- II
- Elements that need to be covered in a thorough industry analysis
- The principles of strategic analysis of an industry
- The effects of barriers to entry, industry concentration, industry capacity, and market share stability on pricing power and price competition
- Industry life cycle models, classify an industry as to life cycle stage
- Limitations of the life-cycle concept in forecasting industry performance
- Characteristics of representative industries from the various economic sectors
- Macroeconomic, technological, demographic, governmental, and social influences on industry growth, profitability, and risk
Equity Valuation: Concepts And Basic Tools- I
- Evaluation of a security, given its current market price and a value estimate, is overvalued, fairly valued, or undervalued by the market
- Major categories of equity valuation models
- Regular cash dividends, extra dividends, stock dividends, stock splits, reverse stock splits, and share repurchases
- Dividend payment chronology
- The rationale for using present value models to value equity
Equity Valuation: Concepts And Basic Tools- II
- Dividend discount and free-cash-flow-to-equity models
- Calculate the intrinsic value of a non-callable, non-convertible preferred stock
- Calculate and interpret the intrinsic value of an equity security based on the Gordon (constant) growth dividend discount model or a two-stage dividend discount model, as appropriate
- Identify characteristics of companies for which the constant growth or a multistage dividend discount model is appropriate
Equity Valuation: Concepts And Basic Tools- III
- Rationale for using price multiples to value equity, how the price to earnings multiple relates to fundamentals, and the use of multiples based on comparable
- Calculate and interpret the following multiples: price to earnings, price to an estimate of operating cash flow, price to sales, and price to book value
- Enterprise value multiples and their use in estimating equity value
- Asset-based valuation models and their use in estimating equity value
- Advantages and disadvantages of each category of valuation model
How It works
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Live Online Sessions Each session is interactive and informative, featuring case studies, quizzes and projects |
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Interact, Learn and Grow bsevarisity.com enables you to master the concepts, interact with expert faculty and other learners and be a part of the community whilst growing. |
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