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所在平台: Coursera |
课程主页: https://www.coursera.org/learn/valuation-multiples
课程评论：没有评论
课程名称：《使用多种方法对初创企业进行估值》 课程概述：除了折现现金流法外，多重估值法是公司估值中最受欢迎的方法之一。市盈率（PER）常被金融专业人士用于快速估算公司的价值。在本课程中，您将学习PER、每股账面值（PBR）和每股营收（PSR）的概念及其应用。除了这些基本的多重比率，您还将学习如何在追加融资前后对企业价值和创始人所有权进行估算。由于初创企业在首次公开募股（IPO）前需要多次融资，完成本课程后，您将能够回答诸如“根据初创企业对未来收益的估算，每股价格应为多少？”和“创始人应放弃多少股份以筹集额外资金？”等问题。在折现现金流法和多重法中，您总是会得到收益或现金流来估计公司价值，而本课程还将教您如何从财务报表中生成现金流或收益。完成课程后，您将能够理解财务报表的含义，包括资产负债表、利润表和现金流量计算。 课程大纲： 1. 课程名称：基于可比公司的估值 描述：在公司估值中，最常用的比率是PER、PBR和PSR。由于大多数初创企业的收益为负，因此无法使用PER进行初创企业估值。因此，您需要掌握PBR或PSR。完成本模块后，您将能够解释这些比率的概念并轻松进行计算。 2. 课程名称：融资前和融资后估值 描述：投资者通常在投资时会谈论公司的融资前估值或融资后估值。本模块将向您介绍融资前和融资后估值的概念。通过本模块，您将能够区分融资前和融资后估值。 3. 课程名称：财务报表 描述：财务报表总结了有关公司的信息。为了评估和诊断您的初创企业的表现，第一步是评估公司的当前状况并解释财务报表。因此，您将简要学习主要财务报表：资产负债表、利润表和现金流量表。 4. 课程名称：现金流 描述：在本模块中，您将学习现金流的基本概念，包括资产现金流、债权人现金流和股东现金流。此外，您还将能够计算现金流。本模块与第三模块（财务报表）密切相关，建议学生复习第三模块的所有内容。最后，将提供课程总结回顾讲座。 5. 课程名称：案例研究 描述：在本模块中，您将处理2015年由申教授和李教授创立的Ysom公司。该模块的目的是计算现金流并创建您在四周内学习的财务报表。
Name:Valuation Based on Comparable Firms
Description:In company valuation, the most often used multiples are PER, PBR, and PSR. PER is the ratio of stock price per share to earnings per share. Since most startups have negative earnings, you cannot use PER in starup. It is the reason why you should know PBR or PSR for startup valuation. After this module, you will be able to explain the concept of those multiples and calculate them easily.
Name:Pre & Post-money valuation
Description:Investors often talk about the pre-money or post-money valuation of a company at the time they invest. This module will introduce you to concepts of pre-money and post-money valuation. By the end of this module, you can distinguish pre-money and post-money valuation.
Name:Financial Statements
Description:Financial statements summarize information about a firm. In order to evaluate and diagnose performance for your startup, your first step is to assess the company’s current condition and interpret financial statements. Thus, through this module, you will briefly learn main financial statements: balance sheet, income statement, and cash flow statement.
Name:Cash Flow
Description:In this module, you will learn cash flow identity which consists of cash flow to assets and cash flow to creditors and stockholders. Furthermore, you are able to calculate cash flow. Basically, this module is strongly related to module 3, financial statements. Students are encouraged to review all contents in module 3. Lastly, wrap-up review lecture are provided.
Name:Case Study
Description:In this module, you will deal with Ysom, Inc which was founded in 2015 by Professor Shin and Professor Lee. The purpose of this module is to compute cash flows and create financial statements what you have learned during four weeks.
In addition to discounted cash flow method, multiple method is one of the most popular methods of firm valuation. PER is often used among financial professionals to make a quick-and-dirty estimate of a firm value. In this course, you are going to learn the concept and usage of PER, PBR and PSR. In addition to these basic multiple ratios, you are going to learn how to make an estimate of enterprise value and founder’s ownership before and after additional funding. Startups require a number of financings before IPO. After taking this course, you are going to be able to answer questions such as What the price per share should be given the startup’s estimate of earnings in the future; How many shares the founder should give up to raise additional capital; and so on? In the discounted cash flow method and multiple method, you are always given earnings or cash flows to make estimate of firm value. In this course, you are also going to learn how to generate cash flows or earnings from the financial statements. After taking this course, you will be able to understand the meaning of financial statements such as balance sheet, income statement and cash flow calculation.
