Here’s what you’ll see:

• “Tax Valuations Are the Main Profit Driver for BV Firms, Per BVR Survey” (BVR Editor). Valuations for income, estate, and gift tax purposes are the most profitable for business valuation firms, according to a BVR survey. These valuations leap-frogged over litigation services and valuations for transactions/M&A purposes, which topped the list in 2018.

• “Damodaran Looks at Intangibles—and Tosses Some Dynamite” (BVR Editor). It is always a pleasure to listen to Aswath Damodaran (Stern School of Business, New York University) talk about valuation. BVR invited him to do a webinar on intangibles, and he didn’t disappoint, giving his perspective and dropping a few bombshells in his inimitable style.

• “Is Your Subject Business Still Feeling the Effects of COVID-19?” (BVR Editor). The pandemic is over, but the symptoms may linger for a long time. For valuation analysts, the concern is whether the businesses they are appraising will be impacted over the long term—an impact that could be positive or negative. An example is the limited-service restaurant business, such as fast-food, pizza, coffee shops, and the like.

• “More Perspectives From Young BV Practitioners” (BVR Editor). For the past few years, NACVA has been giving a forum to young business valuation professionals, so they can give their perspectives on the profession and what keeps them interested and motivated. At the December NACVA Super Conference, a panel discussion continued this tradition.

• “Review of Surveys on Cost of Capital Data Sources and Inputs” (BVR Editor). The Kroll Cost of Capital Navigator continues to be widely used and accepted for estimating cost of equity (COE). But BVR’s Cost of Capital Professional has been gaining considerable steam since its launch in 2018, according to a BVR survey. Some other resources for estimating the cost of capital have also seen an uptick in usage.

• “‘Landmark’ Update Released of the International Valuation Standards” (BVR Editor). Two years in the making, the International Valuation Standards Council (IVSC) has published a new edition of the International Valuation Standards (IVS), which are effective for valuations performed on or after Jan. 31, 2025. The new set of standards is available for download through IVS Online (subscription required for nonmembers).

The issue also includes:

• A full section of “BV News and Trends/Global BV News and Trends”;

• Regular features: “Ask the Experts” and “Tip of the Month”;

• BV data spotlight: “DealStats MVIC/EBITDA Trends,” “Stout Restricted Stock Study and DLOM Calculator,” “Economic Outlook for the Month,” and the “Cost of Capital Center”; and

• BVLaw Case Update: The latest court cases that involve business valuation issues with one case featured in a detailed analysis.

To stay current on business valuation, check out the March 2024 issue of Business Valuation Update.