Equity Valuation and Analysis w/eVal

Equity Analysis and Valuation with eVal closes the gap between the theoretical treatment of equity valuation and the actual practice of valuing a company using real-world data. While the underlying theories of financial analysis and valuation are given their due, the goal is always to answer the question, “What is this company really worth?” Equity Analysis and Valuation with eVal takes the view that sound forecasts of the future financial statements are the key input to a good valuation, and that most other aspects of the valuation process are mechanical. To that end, the book employs eVal, an Excel-based workbook that guides the user through the forecasting and valuation processes while taking care of the mundane computations. By providing a unified interface for the valuation process, eVal allows you to focus on the forecasting, not on the spreadsheet. The book covers the topics of business strategy analysis, accounting analysis, financial analysis, forecasting and valuation and also alerts readers to common pitfalls encountered in equity valuation and analysis. The book also includes 23 illustrative cases.

Russell Lundholm is the Alumni Professor of Accounting at the University of British Columbia Sauder School of Business. He holds a PhD in Business Administration and a Masters of Science in Statistics from the University of Iowa. He has also taught at the University of Michigan from 1993 to 2010, and at Stanford University from 1987 to 1993. Professor Lundholm’s research has been published in the Review of Accounting Studies, the Journal of Accounting Research, The Accounting Review, Contemporary Accounting Review, the Journal of Finance, the Review of Financial Studies, Econometrica, and the Journal of Political Economy. His principal teaching specialty is financial statement analysis, with a particular emphasis on financial forecasting and equity valuation. His work has been covered extensively in the popular press, including Forbes, the New York Times, the Wall Street Journal and Fortune. He regularly speaks to organizations in the industry about forecasting and valuation techniques. Richard Sloan is Visiting Professor of Accounting at the University of Southern California and is on leave from the University of California Berkeley, where he holds the Emile R. Niemela Chair in Accounting and International Business. From 2006 to 2009, Sloan was a managing director in equity research at Barclays Global Investors. He has also served on the faculties of the University of Michigan’s Ross School of Business and the University of Pennsylvania’s Wharton School. While at the University of Michigan, Professor Sloan was the founding director of the John R. and Georgene M. Tozzi Electronic Business and Finance Center. Professor Sloan’s research focuses on the role of accounting information in investment decisions. His research has received numerous awards, including the American Accounting Association’s Seminal Contributions to the Accounting Literature Award (2016), the American Accounting Association’s Distinguished Contributions to the Accounting Literature Award (2010) and the American Accounting Association’s Notable Contributions to the Accounting Literature Award (2001, 2009). He is also an editor of the Review of Accounting Studies and an associate editor of the Journal of Financial Economics. Professor Sloan holds a PhD in Accounting from the University of Rochester and a BCom(Hons) from the University of Western Australia.