Home Value Investing Notre Dame Equity Valuation Full Course Syllabus

Notre Dame Equity Valuation Full Course Syllabus

Notre Dame Equity Valuation

Notre Dame Equity Valuation Full Course Syllabus

Notre Dame Equity Valuation Course Syllabus:

  • Download the syllabus (in pdf format).

Notre Dame Equity Valuation Lecture Notes:

  • Course notes will be provided in class or made available for download from this site.  Course notes and additional examples will be posted here as they become available.
    • Lecture 1
      • Introduction to Bloomberg
      • Article: Common Errors in DCF Models
      • Article: McKinsey on The Right Role for Multiples in Valuation
      • Buffett Letter to Berkshire Shareholders 2011 (2010) (2009) (2008) (2007) (1986 Appendix: Cash Flow Fallacy)
    • Lecture 2
      • Implied Premium example spreadsheet using the Solver function
    • Lecture 3
      • Example spreadsheet for Operating Lease and R&D Adjustments
      • Additional notes related to Pension Accounting Adjustments
    • Lecture 4
    • Lecture 5
      • Example Spreadsheet for calculating the Black-Scholes value of employee stock options.
    • Lecture 6
  • Check back here for Self-Study Quizzes to use as an additional study tool.
    • Click here to download the self-study quiz 1 (solutions) related to present value calculations.
    • Click here to download the self-study quiz 2 (solutions) related to cost of capital calculations.
    • Click here to download the self-study quiz 3 (solutions) related to measuring cash flows.
    • Click here to download the self-study quiz 4 (solutions) related to forecasting future growth.
    • Click here to download the self-study quiz 5 (solutions) related to final steps in valuation.
    • Click here to download the self-study quiz 6 (solutions) related to relative valuation.
    • Click here to download an example midterm (solutions) from a previous semester.  Click here to download an additional example midterm (solutions) from a previous semester.
    • Click here to download an example final exam (Taser Financials, solutions) from a previous semester. Click here to download an additional example final exam (Kraft Financials, solutions) from a previous semester.

 

Notre Dame Equity Valuation Suggested Problems and Textbook Supporting Materials:

  • Throughout the semester, I will provide example problems associated with the material we cover in class. Solutions to these example problems will be available below.  Aswath Damodaran also provides extensive data and information to support his textbook.  This information can be accessed at:  Investment Valuation (3nd edition) web page.

Lecture Summaries and Example Problems

Answers to Problems

  Lecture 1  (Introduction to Valuation:  Ch. 1-3)
Nike financial statements including notes

  Nike 10K

Lecture 1 Suggested ProblemsLecture 1 Discussion Problems

  Lecture 2  (Estimating the Cost of Capital:  Ch. 7-8)

 Nike Prices

Lecture 2 Suggested ProblemsLecture 2 Discussion problems

  Lecture 3  (Estimating and Forecasting Cash Flows:  Ch. 9-10)

Lecture 3 Suggested ProblemsLecture 3 Discussion Problems

  Lecture 4  (Estimating Growth and Terminal Value:  Ch. 11-12)

Lecture 4 Suggested ProblemsLecture 4 Discussion Problems

  Lecture 5  (Examples and Final Steps:  Ch. 13-16)

Lecture 5 Suggested ProblemsLecture 5 Discussion Problems

  Lecture 6  (Relative Valuation:  Ch. 17-18)

Lecture 6 Suggested ProblemsLecture 6 Discussion Problems

 

 

Notre Dame Equity Valuation Exams:

  • The Midterm Exam will be held on Wednesday, November 14th. Click here to view the solutions for the midterm.
    • Click here to download an example midterm (solutions) from a previous semester. Click here to download an additional example midterm (solutions) from a previous semester.
  • The Final Exam will be held on Monday, December 10th from 10:00-12:00. There will also be an alternative final exam time offered on Sunday, December 9th from 3:00-5:00 p.m.  You may take the exam during either exam period. Check back here to view grades from the final exam.
    • Click here to download an example final exam (Taser Financials, solutions) from a previous semester. Click here to download an additional example final exam (Kraft Financials, solutions) from a previous semester.

 

Notre Dame Equity Valuation: The Valuation Project:

  • The final valuation project is due by 5:00 p.m. on Friday, December 7th.
    • Valuation Project Instructions – Please note that you should follow the instructions for the write-up very closely.
    • Group Project Assignment 1 – Company and Industry background (due Monday, October 29th).
    • Group Project Assignment 2 – Bloomberg data collection and comparables analysis (due Monday, November 5th).
    • Group Project Assignment 3 – Cost of capital estimation (due Monday, November 12th).
    • Group Project Assignment 4 – Cash flow estimation (due Wednesday, November 28th).
    • Group Project Assignment 5 – Growth forecasts (due Monday, December 3rd).
  • Click here to download my example valuation spreadsheet for Home Depot.
  • Click here to download Damodaran’s example valuation spreadsheets based on FCFF and FCFE.  Numerous other spreadsheets and datasets are available on Damodaran’s web site.
  • Click here to download my Black-Scholes spreadsheet.
  • Click here to download an Excel Example for calculating Beta.
  • Click here to download default spreads by rating category as of August 2011.
  • Click here to download articles related to estimating the equity risk premium by Siegel and Bruner et al.

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