Part One. Foundations of Value
1. Why Maximize Value?
2. The Value Manager
3. Fundamental Principles of Value Creation
4. Do Fundamentals Really Drive the Stock Market?
Part Two. Core Valuation Techniques
5. Frameworks for Valuation
6. Thinking about Return on Invested Capital and Growth
7. Analyzing Historical Performance
8. Forecasting Performance
9. Estimating Continuing Value
10. Estimating the Cost of Capital
11. Calculating and Interpreting Results
12. Using Multiples for Valuation
Part Three. Making Value Happen
13. Performance Measurement
14. Performance Management
15. Creating Value through Mergers and Acquisitions
16. Creating Value through Divestitures
17. Capital Structure
18. Investor Communications
Part Four. Advanced Valuation Issues
19. Valuing Multibusiness Companies
20. Valuing Flexibility
21. Cross-Border Valuation
22. Valuation in Emerging Markets
23. Valuing High-Growth Companies
24. Valuing Cyclical Compalies
25. Valuing Financial Institutions
Appendix A. Economic Profit and the Key Value Driver Formula
Appendix C. Discounted Economic Profit Equals Discounted Free Cash Flow
Appendix D. Levering and Unlevering the Cost of Equity
Appendix E. Leverage and the Price-Earning Multiple
Index
