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APMC offers valuation services
for buyers or sellers of a company or company assets. Our methodologies
are based on state-of-the art corporate finance practice and therefore
mainly include the various Discounted Cash Flow (DCF)
approaches and the more sophisticated real-option approaches.
We analyse every detail of a client's balance sheets, income
statements, cash flow statements and investment plans and adjust figures
if needed. Then we focus on the 6 value drivers:
- Fixed capital investments
- Working capital investments
- Sales growth
- Operating Profit margin
- Tax rate
- Residual values
Cost of capital
Based on this analysis we decide on the best methodology to select
and populate the model with figures under a normal, worst and best
case scenario.
In some sectors, e.g. in the high-tech industry, estimations of future
cash flows can be extremly challenging because markets are changing
very quickly. A company's business unit might be worthless in less
then 1 year if the underlying technology doesn't meet customer expectations.
In these cases company valuation must rely on option models operating
with standard deviations based on industry expert know-how.
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