BV News and Trends March 2022
A monthly roundup of key developments of interest to business valuation experts.
Kroll reviews 2021 capital markets
“Capital Markets Insights—2021 Year in Review” offers a look at the past year in terms of notable S&P 500 performers, DJIA performers, M&A deals, PE deals, IPOs, SPACs, bankruptcies, cost of capital, and private markets.
Global BV News and Trends November 2021
Business valuation news from a global perspective.
BV News and Trends October 2021
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends September 2021
Business valuation news from a global perspective.
Global BV News: Market risk premium reverts in Germany
Recent analysis on the German market suggests that the perceived risk of equity investing has dropped back to its precrisis levels, according to Alvarez & Marsal, which does a regular analysis of pricing dynamics in Germany.
Global BV News and Trends August 2021
Business valuation news from a global perspective.
D&P/Kroll survey of cost of capital inputs
During a recent Duff & Phelps (a Kroll business) webinar, the audience was polled on various valuation and cost of capital topics.
Valuing Enterprise Cash Flows
The integrated theory of business valuation provides a conceptual framework for disciplined analysis of valuation questions. Too often, valuation analysts are tempted to view individual components of a valuation assignment on a piecemeal basis. Adhering to the integrated theory helps valuation analysts develop base valuation conclusions, discounts, and premiums that are rooted in a shared perspective of the subject company and the subject ownership interest. In Part 1 of the series, Chris Mercer and Travis ...
BVU News and Trends February 2021
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends January 2021
A monthly roundup of key developments of interest to business valuation experts.
Vanguard stock market forecast implies a U.S. ERP of 3% to 5%
Annual returns of U.S. stocks over the next decade are forecasted to be in the “modest 3.7%-5.7% range,” according to a recent market outlook report from Vanguard.
D&P reduces recommended U.S. ERP to 5.5%
Duff & Phelps has decreased its recommended U.S. equity risk premium (ERP) from 6.0% to 5.5% for use as of Dec. 9, 2020, according to a client alert.
Side Effect of COVID-19: Beta Changes Impacting Business Valuations
The COVID-19 pandemic is causing betas and other measures of risk commonly used in company valuations to appear to have changed. Beta is a critical component used by valuation experts when determining the discount rate in business valuation. Even small changes in betas can cause large changes in the discount rate and, consequently, can cause large changes in valuation. In this panel discussion, Dr. Roper and Cliff Ang, CFA, will describe how the COVID-19 pandemic ...
D&P enhances infographic on cost of capital
Duff & Phelps has updated its infographic, “Cost of Capital in the Current Environment,” and has enhanced it with new data on the eurozone.
BVU News and Trends October 2020
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends September 2020
A monthly roundup of key developments of interest to business valuation experts.
Global BVU News and Trends September 2020
Business valuation news from a global perspective.
D&P offers infographic on cost of capital amid COVID-19
Which financial market and economic indicators did Duff & Phelps take into consideration when it arrives at its recommended U.S. equity risk premium and accompanying normalized risk-free rate?
D&P lowers U.S. normalized risk-free rate to 2.5%
Duff & Phelps has decreased its recommended U.S. normalized risk-free rate from 3.0% to 2.5% for use as of June 30, 2020, according to a client alert.
Valuing Residential and Commercial Construction Companies
Cash flow seasonality, bid requirements, license particulars, economic forces, and ubiquitous litigation are all hallmarks of the residential and commercial construction industries and all unique factors when appraising a construction company. Join What it’s Worth guide author and expert Pasquale Rafanelli for a full inspection of residential and commercial construction company valuation issues from accounting methods to value drivers. Avoid the common valuation mistakes that appraisers make and learn to answer the one question on ...
New business valuation resource from Professor Fernandez captures low market returns
Pablo Fernandez continues to release research that may assist UK business valuers working on reports with valuation dates in Q1 2020.
BVU News and Trends May 2020
A monthly roundup of key developments of interest to business valuation experts.
EU risk-free rate declines, and the market risk premium increases to 9.0%
A special edition (fifth) of the “European Capital Market Study” from ValueTrust was released last week.
Duff & Phelps raises US ERP from 5.0% to 6.0% for 1Q valuation dates
D&P has increased its recommended U.S. equity risk premium (ERP) from 5.0% to 6.0% for use as of 25 March 2020.
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