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CFROI Valuation

Autor Bartley Madden
en Limba Engleză Hardback – 14 feb 1999
What generates shareholder value? How can it be evaluated? How can it influence investment decisions and corporate strategy? Cash Flow Return On Investment answers all these questions by detailing the pioneering financial research carried out by HOLT Value Associates, the leading consultancy in the field. Read this book if you want to find out what really drives the wealth generation in any business, allowing you to pick which equities will succeed and which strategic initiatives are destined for high returns. The CFROI model is an essential tool for professionals working in finance and corporate strategy. It clarifies how economic value is created in a firm and acts as a reliable guide to:* making investment decisions* taking key strategic decisions* understanding economic value

Shows how to judge and compare individual equities across markets and company sectorsCutting edge theory and practiceThe leading book about shareholder value authored by one of the world's leading consultancies in the field
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Specificații

ISBN-13: 9780750638654
ISBN-10: 0750638656
Pagini: 356
Ilustrații: black & white illustrations
Dimensiuni: 189 x 246 x 20 mm
Greutate: 0.67 kg
Editura: ELSEVIER SCIENCE

Public țintă

Investment analysts and managers; Corporate finance departments; Investor relations professionals; Fund trustees, CEOs; CFOs; students of masters courses in finance and investment

Cuprins

Preface;Summary; Key Criteria For Assessing Valuation Models; Basic valuation Elements; CFROI Life Cycle; CFROI Valuation Model; CFROI Fade Rates; Market-Derived Discount Rate And Risk Differentials; Valuation Sensitivity; Corporate Performance Scorecards; Intelligence Gathering; Total System Perspective For Valuation Analysis; Critical Thinking; Technical Details; Conventional Valuation Models; Conclusions; Epilogue; Endnotes; Appendix

Recenzii

"A reader from New York on Amazon.ComCFROI explains stock prices better than P/E ratios Best finance book I have read in years! The book is a quick read and does a terrific job of explaining the investment framework employed by institutional portfolio managers world-wide. CFROI brings the concept of return on invested capital to a more robust level by providing the investor with a greater understanding of stock price movement and valuation. This book is a must read if you expect to outperform the market. The increased complexity of accounting rules over the last decade has forced investors to apply an analysis process focused on a company's future cash flows. The accuracy of the CFROI valuation framework places traditional analysis and EVA at the bottom of the investor's toolbox. CFROI can help you avoid value trap stocks and step up to high PE stocks who are expected to create wealth for their shareholders. 'Bart Madden's path-breaking study of CFROI is one of the most important works on corporate finance to appear in the past three decades." --H. Thomas Johnson - Retzlaff Professor of Business Administration, Portland State University (Oregon)

“This is a well thought out and splendidly written handbook of the CFROI (Cash Flow Return On Investment) Valuation method.. I would expect to find this book on the desk of every corporate and investment financial analyst and manager.” --George M. Frankfurter - Lloyd F. Collette Professor of Financial Services, Louisiana State University

“Written from a practitioner's perspective, this book nevertheless brings striking insights to academic debates on cost of capital, the handling of accounting items and cross-sectional differences in ROI fade rates.” --Charles M. C. Lee - Henrietta Johnson Louis Professor of Management, Director, Parker Center for Investment Research, Cornell University A reader from New York , June 29, 1999

CFROI explains stock prices better than P/E ratios Best finance book I have read in years! The book is a quick read and does a terrific job of explaining the investment framework employed by institutional portfolio managers world-wide. CFROI brings the concept of return on invested capital to a more robust level by providing the investor with a greater understanding of stock price movement and valuation. This book is a must read if you expect to outperform the market. The increased complexity of accounting rules over the last decade has forced investors to apply an analysis process focused on a company's future cash flows. The accuracy of the CFROI valuation framework places traditional analysis and EVA at the bottom of the investor's toolbox. CFROI can help you avoid value trap stocks and step up to high PE stocks who are expected to create wealth for their shareholders.