Valuation

McKinsey & Company's bestselling guide to teaching corporate valuation - the fully updated seventh edition

Valuation: Measuring and Managing the Value of Companies, University Edition is filled with the expert guidance from McKinsey & Company that students and professors have come to rely on for over nearly three decades. Now in its seventh edition, this acclaimed volume continues to help financial professionals and students around the world gain a deep understanding of valuation and help their companies create, manage, and maximize economic value for their shareholders.

This latest edition has been carefully revised and updated throughout, and includes new insights on topics such as digital, ESG (environmental, social and governance), and long-term investing, as well as fresh case studies. For thirty years, Valuation has remained true to its basic principles and continues to offer a step-by-step approach to teaching valuation fundamentals, including:

• Analyzing historical performance
• Forecasting performance
• Estimating the cost of capital
• Interpreting the results of a valuation in context
• Linking a company's valuation multiples to core performance drivers

The University Edition contains end-of-chapter review questions to help students master key concepts from the book.

Wiley also offers an Online Instructor's Manual with a full suite of learning resources to complement valuation classroom instruction.

TIM KOLLER is a partner in McKinsey's Stamford, Connecticut office, where he leads a global team of corporate-finance expert consultants.

MARC GOEDHART is a senior expert in McKinsey's Amsterdam office and an endowed professor of corporate valuation at Rotterdam School of Management, Erasmus University (RSM).

DAVID WESSELS is an adjunct professor of finance at the Wharton School of the University of Pennsylvania.

FOR THIRTY YEARS McKINSEY HAS BEEN A TRUSTED GUIDE TO TEACHING CORPORATE VALUATION Valuation, University Edition, Seventh Edition contains the expert guidance from McKinsey & Company that students and professors have come to rely on. New to the fully revised and updated Seventh Edition : New case studies that clearly illustrate both the economics of value creation and the process of measuring value Clarifies the distinction between creating shareholder value and maximizing short-term profits Explores in greater depth the factors that drive long-term value creation For thirty years Valuation has remained true to its basic principles and continues to offer a step-by-step approach to valuation, including: Analyzing historical performance Forecasting performance Estimating the cost of capital with practical tips Interpreting the results of a valuation in light of a company's situation Linking a company's valuation multiples to the core drivers of its performance The University Edition contains End-of-Chapter Review Questions that help students master key concepts from each chapter. Wiley also offers an Online Instructor's Manual with a full suite of learning resources for professors and students. McKINSEY & COMPANY is a global management-consulting firm that serves across a wide range of industries and functions.

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