Business Valuation Update Yearbook, 2025 Edition

February 2025 PDF (418 pages)

BVR (editor)

Business Valuation Resources, LLC

PLEASE NOTE: This title is available exclusively through BVResearch Pro and is not available for individual purchase.  

Another year has come and gone and it's time again for one of BVR's “greatest hits” publications! The Business Valuation Update Yearbook 2025 covers the previous year’s most groundbreaking and thought-provoking advancements in valuation. It captures changes in regulations and professional standards, key takeaways from professional conferences, and tactical practice-building ideas. Available with BVResearch Pro only, this critical desktop reference puts you ahead of the competition with on-the-ground reporting by the BVR editorial team including an Introduction by Andy Dzamba, BVR Executive Editor and insights from notable BV experts.   

This publication and many more are also available for download with a subscription to BVResearch Pro.


Highlights of the publication include:  

  • Streamline your analysis and boost your productivity by utilizing user-friendly queries with BVResearch Pro's Research & Data Assistant (RADA) to quickly extract key information and streamline your research process.  
  • Gain a competitive edge in your next valuation engagement with access to over 80 articles that analyze the latest trends and challenges in the business valuation field. 
  • Enhance your valuation methodologies with innovative techniques and practical guidance on navigating current market conditions, including inflation and volatility. 
  • Stay ahead of the curve by discovering new ideas that challenge conventional valuation practices, ensuring your approach remains relevant and effective.  
  • Maximize your learning opportunities with comprehensive summaries from major valuation conferences, allowing you to benefit from key discussions and insights even if you couldn't attend.  
  • Benchmark your practice against top-performing firms by exploring best practices and operational insights that can help elevate your business valuation services. 

Introduction  

Section I.  Business Valuation Approaches, Methods, and Entity-Specific Issues 

Fair Market Value: A Complicated Standard
By Mark O. Dietrich, CPA 

Two Ways to Treat the Vanishing Bonus Depreciation Tax Break 

Damodaran Looks at Intangibles—and Tosses Some Dynamite 

Is Your Subject Business Still Feeling the Effects of COVID-19? 

Perception Grows of Bias in U.S. Valuation Experts  

Key Points From Hitchner’s Annual BV Update  

How to Review a Report’s Valuation Methodology 

Using Rule of Thumb Data to Uncover Cooked Books 

A Channel Analysis Is Key When Valuing a Fast-Food Restaurant 

A Method for Forecasting Property Impairment Resulting From Climate Change
By Barry Purnell 

The Disconnect Between Research and Practice in Healthcare Valuation
By Mark O. Dietrich 

Two BV Trends That Have Alarmed BVR’s ‘Power Panel’ 

Try These Visuals When Selling Business Valuation Services 

The Changing Landscape of Intellectual Property Valuations in the Healthcare Industry 
By Magi Curtis (J.S. Held), Noor Al-Banna (Ocean Tomo, a part of J.S. Held), and
Greg Campanella (Ocean Tomo, a part of J.S. Held) 

Need to Explain the Valuation of a Multilayered Entity? Try This Chart 

Free Resources to Help Valuers With Business Interruption Claims 

Maligned and Abused Excess Earnings Method Endures—But Why?  

Section II. Cost of Capital 

Review of Surveys on Cost of Capital Data Sources and Inputs 

Checklist for Reviewing a Valuation Report’s Discount Rate 

Retain Professional Judgment in Your Cost of Equity Estimates 

Valuation Report Excerpts Using Pepperdine to Estimate a Discount Rate 

Don’t Be Afraid to Use a High Discount Rate in Your DCF for Early-Stage Firms
By J. Russell Frawley III, MBA, CPA, ABV, Frawley & Co. PLLC (Miami, Florida, USA) 

The Continuing Evolution of the BUM
By Ronald L. Seigneur, Seigneur Gustafson LLP, Lakewood, Colorado, USA 

Letter to the Editor: Feedback on Paper Concerning Company-Specific Risk  

Section III. Business Valuation Conference Coverage 

What to Know From the 2023 ASA International Conference, Part 2 

What to Know From the ASA Fair Value Conference 

Big Four Focus on Practice Management at the ASA Fair Value Conference 

A Very Engaging Audience at the ASA ESOP Virtual Conference 

Short Takes and Tips From the Annual ASA Conference 

ASA Recap: Uncertain Economy Puts Spotlight on Valuation Report Narrative 

ASA Outlines Efforts to Step Up Its Game Amid Market Challenges 

AI Sessions Draw Big Crowds at AICPA FVS Conference 

A Dozen Tips From the VSCPA Forensic and Valuation Services Conference 

Section IV.  Legal, Regulatory, Standards 

BVLaw Review: The Top Valuation Cases of 2023
By R James “Jim” Alerding, CPA/ABV 

Valuation Impact of Corporate-Owned Life Insurance on SCOTUS’ Agenda
By Roger J. Grabowski, FASA (Kroll) 

What Valuers Should Do While SCOTUS Mulls Connelly 

‘Very Useful’ MPF Will Be Reissued in Revamped Form  

‘Landmark’ Update Released of the International Valuation Standards  

What to Glean From the IRS Hiring Binge for BV Experts 

Highlights of 2021 to 2023 Delaware Valuation Decisions
By Gilbert E. Matthews, CFA, Sutter Securities Inc. (San Francisco, Calif., USA) 

SCOTUS Decides Valuation of Corporate-Owned Life Insurance
By Roger Grabowski, FASA 

ESOP Experts Worried Over Upcoming DOL Regs on Valuations 

AICPA Wants Feedback on Partial Revisions to Cheap Stock Guide 

Gregory Reveals What’s Going on With the IRS and Tax Valuations 

Delaware’s Surprising and Inexplicable Appraisal of FairXchange
By Gilbert E. Matthews, CFA, Sutter Securities Inc. (San Francisco, Calif., USA) 

IRS Warns Cannabis Firms: 280E Is Still Alive and Kicking 

Connelly Lesson: A Good Buy-Sell Is Not Enough to Fix Value  

Valuation Standards That Apply to Ethical Dilemmas With AI 

Section V. Business Valuation Profession and Practice Management 

BV Year in Review 2023: Recruiting Push 

Future Plans for the AICPA FVS Section  

AI Concerns, Experiments Highlight NACVA Confab 

Quality Control Is Now the No. 1 Concern of BV Firms 

Tax Valuations Are the Main Profit Driver for BV Firms, Per BVR Survey 

More Perspectives From Young BV Practitioners 

Mercer Extols the Virtues of Writing as a Valuation Career Builder 

The BV Profession’s ‘Silver Tsunami’ Is More Like a Trickle 

Ideas for Solving Two Problems in the BV Profession 

How Do Your Firm’s Benefits Stack Up?  

Practice-Building Tips From the AICPA FVS Conference 

Going ‘Beyond Valuation’ to Propel Your Practice and Career 

BV Experts Embrace AI, See Its Promise  

AI Is Making Inroads at Business Valuation Practices 

BVR Breaks New Ground With Debut of RADA  

BVR Extends Reach of Groundbreaking Research Tool 

Section VI. Reviews of Research, Data Sources, and New Books 

A Wealth of Rules of Thumb in the 2024 Business Reference Guide 

Popular Real Estate DLOC Database Is Not Going Away 

July Research Update 

August Research Update 

September Research Update 

October Research Update 

November Research Update 

December Research Update 

Section VII. U.S. and Global BVU News and Trends Roundup 

January 2024 U.S. and Global News and Trends 

February 2024 U.S. and Global News and Trends 

March 2024 U.S. and Global News and Trends 

April 2024 U.S. and Global News and Trends 

May 2024 U.S. and Global News and Trends 

June 2024 U.S. and Global News and Trends 

July 2024 U.S. and Global News and Trends 

August 2024 U.S. and Global News and Trends 

September 2024 U.S. and Global News and Trends 

October 2024 U.S. and Global News and Trends 

November 2024 U.S. and Global News and Trends 

December 2024 U.S. and Global News and Trends 

Section VIII. Data 

Monthly Cost of Capital Data