Online Tutorials & Resources
Ten step-by-step tutorials—with downloadable spreadsheets—that walk through the key concepts in the book.
The Ten Online Tutorials
How Do You Calculate Present Value?
Today’s value of tomorrow’s cash flow: the size, risk, and timing of a cash flow determine what it is worth now.
Read tutorial →How Do You Estimate Sales and Sales Growth Rate?
Where to find historical sales figures and projected growth rates, using Domino’s Pizza as the case study.
Case documents Read tutorial →How Do You Calculate Operating Profit Margin?
Computing historical operating margins from public filings and projecting them into the future.
Spreadsheet included Read tutorial →How Do You Calculate Incremental Net Working Capital?
Finding the data, computing historical working capital trends, and projecting future needs.
Spreadsheet included Read tutorial →How Do You Calculate Incremental Fixed Capital?
Measuring the cash a company invests in long-term operating assets above and beyond depreciation.
Spreadsheet included Read tutorial →How Do You Calculate the Cash Tax Rate?
Defining the unlevered cash tax rate and walking through a sample calculation.
Spreadsheet included Read tutorial →How Do You Calculate the Cost of Capital?
Estimating the weighted average cost of capital from the costs of debt and equity.
Spreadsheet included Read tutorial →How Do You Perform a Price-Implied Expectations Analysis?
Putting it all together: free cash flow, non-operating assets, and the market-implied forecast period.
Spreadsheet included Read tutorial →How Do You Analyze an M&A Deal?
Shareholder Value at Risk, Premium at Risk, and anticipating the market’s reaction to a deal.
Spreadsheet included Read tutorial →How Do You Assess the Value of Real Options?
Valuing uncertain growth opportunities with real-options techniques, using Shopify as the case study.
Spreadsheet included Read tutorial →Recommended Books
- Besanko, David, David Dranove, Mark Shanley, and Scott Schaefer, Economics of Strategy, 7th ed. (Hoboken, NJ: John Wiley & Sons, 2017).
- Damodaran, Aswath, Narrative and Numbers: The Value of Stories in Business (New York: Columbia Business School Publishing, 2017).
- Greenwald, Bruce, and Judd Kahn, Competition Demystified: A Radically Simplified Approach to Business Strategy (New York: Portfolio, 2005).
- Koller, Tim, Mark Goedhart, and David Wessels, Valuation: Measuring and Managing the Value of Companies, 7th ed. (Hoboken, NJ: John Wiley & Sons, 2020).
- Lev, Baruch, and Feng Gu, The End of Accounting and the Path Forward for Investors and Managers (Hoboken, NJ: John Wiley & Sons, 2016).
- Magretta, Joan, Understanding Michael Porter: The Essential Guide to Competition and Strategy (Boston, MA: Harvard Business Review Press, 2012).
- Shapiro, Carl, and Hal R. Varian, Information Rules: A Strategic Guide to the Network Economy (Boston, MA: Harvard Business School Press, 1999).
- Williams, John Burr, The Theory of Investment Value (Cambridge, MA: Harvard University Press, 1938).