Equity Valuation: Models from Leading Investment Banks
by Jan Viebig, Thorsten Poddig, Armin Varmaz
Index
Accounting, basic structure of 200
Accrual accounting 27, 113, 207, 286
Additional adjustments (ADJ) 28, 63, 64, 79
Adjusted gross plant 123, 124, 126, 127, 130, 131, 135, 137
Adjusted present value (APV) 337, 339, 341, 346–7
Airline business 207
Alexander, G.J. 42, 277, 390, 395, 396
American Depository Shares (ADS) 57, 58
Analytical balance sheets 11–14
Ang, A. 387
Antikarov, V. 14
Arbitrage-free pricing 5, 384, 393
Arbitrage pricing theory (APT) 45
Asset turnover 18, 213, 228, 241
Average revenues per user (ARPU) 58–61
Bacon, F. 86
ARPU approach 61
capitalizing R&D expenses 67
enterprise value calculation 78
financial value drivers 75
free cash flows to the firm (FCFF) 68–9
fundamental value per share 79
long-term invested capital 73
net revenues 60
operating income 65
share price performance (2005–2007) 79–83
terminal value calculation 77
WACC assumptions 70
Bakshi, G. 393
Barbarians at the Gate 298
Barth, M. 357
Bell, P.W. 285
Berkshire Hathaway 204
Bernard, V.L. 285
Bianco, D. 255, 256, 258, 259, 260, 266, 270, 271
Black-Scholes option pricing model 370
Bloomberg 15, 37, 39, 80, 92, 94, 110, 213, 300, 307, 308, 309, 315, 330
Blume, M.E. 39
Bogue, M. 387
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