Course Description

As an analyst in Investment Banking, Corporate Finance, Equity Research or Private Equity, a major part of your work will revolve around valuation using various techniques especially trading comparables, or comps as per popular industry jargon. Across the buy side and sell side, comps are widely used:

  • To value target companies for M&A
  • To evaluate entry and exit multiples and IRR returns for private equity investors and
  • To give stock recommendations of buy, sell and hold.

As a result, mastering comps is a bread and butter skill set for all aspiring analysts. Job interviews to enter any of these fields:

  • Are intense, highly technical in nature and
  • Questions related to trading comps tend to come up frequently

The skills that you will pick up on this course will enable you to hold your own and succeed not just in interviews, but everyday as a professional as well. By investing in SIB’s program on Trading Comps, you already have a head start. It offers:

  • 56 professional quality HD videos with a run time of just over 2 hours
  • 3 power packed case studies on Facebook, Alphabet (Google's parent company) and Vodafone with step by step guidance

LEARNING OBJECTIVES

After having gone through all videos and exercises on our Trading Comps program, you will:

  • Be aware of their advantages and disadvantages
  • Understand how to identify peers
  • Be able to calculate equity value and enterprise value (EV)
  • Gain the ability to identify relevant equity value and EV multiples
  • Learn about sector specific multiples
  • Understand how to calendarise & normalize financials
  • Be able to compute trailing multiples using last twelve months or LTM
  • Understand how to calculate fully diluted shares outstanding
  • Master advanced concepts and be able to make adjustments for Non Controlling Interests, Associates and Affiliates
  • Understand how leases and pensions impact valuations
  • Learn how to deal with convertible securities
  • Be able to understand and interpret output sheets
  • Learn to sanity check multiples
PRACTICAL, CONTEMPORARY & RELEVANT

Our Trading Comps program offers:

Practical Skills: Since 2007, SIB has been a pioneer in the provision of practical skills. This module strikes the perfect blend between theory and practice. Theory is backed up with 3 power packed case studies on Facebook, Alphabet (Google's parent company) and Vodafone

Relevance: Just think of a top tier firm (JP Morgan, Deutsche Bank,Citi, BofA, HSBC, Nomura etc) in a major financial centre (London, NY, Hong Kong, Dubai, Mumbai etc) across the world? SIB alumni from our full time placement programs are already making their mark there. This is possible only because our content is relevant to industry and hits the nail on the head. By investing in this program, you have access to that same high impact world class content

Professional HD Production: All our content is professionally produced and edited to maximise your learning experience

WORTH MENTIONING

  • Your access is valid for a period of 3 years from the day you sign up. So you have plenty of time to practice and perfect :)
  • This is an advanced program and it will be helpful to have a good understanding of introductory accounting concepts. If you’re new to Accounting, we strongly recommend you go through our Introduction to Accounting program.
  • If you’re not sure about a certain topic or have questions simply post on the forum or drop us an email and we'll get back to you with lightning speed (subject to holidays and different time zones)

YOUR PATH

We would recommend that you go through our programs in the following sequence:

Intro to Accounting --> Advanced Accounting--> Valuation- Trading Comps --> Valuation - Transaction Comps --> Valuation - DCF --> Financial Modeling

Ready to invest in your professional development and master Trading Comps like a Wall Street analyst? Excellent! LETS BEGIN LEARNING !

About the Instructor

Team SIB

SIB-School of Investment Banking is a unique and one of a kind Investment Banking training institute. What sets us apart is the fact that in addition to providing cutting edge “job oriented” training, we leverage our deep contacts with recruiters to secure world class placement opportunities for candidatesToday SIB alumni are pursuing their career ambitions with major recruiters such as JP Morgan, Goldman Sachs, Citi, Deutsche Bank, Bank of America, HSBC, Nomura, PwC, Ernst & Young, KPMG, Deloitte and Grant Thornton among others across the worldThis is possible only because our content is relevant to industry, contemporary and hits the nail on the headTeam SIB comprises of former bankers at Lehman Brothers, Nomura, Citi and UBS and has a proven track record of delivering industry relevant cutting edge training that transforms livesWith an average placement record of 90% since 2007, we know more than a thing or two about getting your foot in the door!

Course curriculum

  • 1

    Opening Remarks

  • 2

    Introduction to Valuation

  • 4

    Equity Multiples

    • Equity Value

    • Price to Earnings Multiple

    • Price to Book Multiple

  • 5

    Enterprise Value or EV Multiples

  • 6

    Other Adjustments

  • 7

    Advanced Concepts - Equity Value

    • Options - Treasury stock method

    • Preferred Stock & Convertible Debt

  • 8

    Advanced Concepts - Enterprise Value (EV)

    • Recap - Consolidation Accounting

    • Accounting for Associates & Affiliates

    • Adjusting the EV

      FREE PREVIEW
    • Non Controlling Interests

    • Associates

    • Affiliates

    • Leases

    • Retirement Plans

  • 9

    Sanity Checks

    • Sanity Check

  • 10

    DOWNLOADS

    • Alphabet - Corporate Documents

    • Alphabet - Equity Research

    • Facebook - Corporate Documents

    • Facebook - Equity Research

    • Vodafone- Corporate Documents

    • Templates

  • 11

    Understanding the Teamplate

  • 12

    FACEBOOK - Valuation Walk Through

    • Date, Currency, Dividends, Time Period

    • Calculating Market Cap & Enterprise Value (EV)

    • Stock Options & Fully Diluted Shares

    • Non Controlling Interests, Associates, Affiliates

    • Historic Financials - GAAP to Non GAAP Adjustments

    • Forward Estimates

    • Last Twelve Months (LTM), Calendarisaton

    • Calculate Multiples & Sanity Checks

  • 13

    ALPHABET (Google) - Valuation Walk Through

    • Date, Currency, Dividends, Time Period

    • Calculating Market Cap & Enterprise Value (EV)

    • Stock Options & Fully Diluted Shares

    • Non Controlling Interests, Associates, Affiliates

    • Historic Financials GAAP to Non GAAP Adjustments

    • Forward Estimates

    • Last Twelve Months (LTM), Calendarisation

    • Calculate Multiples & Sanity Checks

  • 14

    Internet, Social Media & Networking : Interpreting Results

    • Internet, Social Media & Networking : Interpreting Results

  • 15

    VODAFONE - Valuation Walk Through

    • Date, Currency, Dividends, Time Period

    • Calculating Market Cap & Enterprise Value (EV)

    • Stock Options & Fully Diluted Shares

    • Non Controlling Interests, Associates, Affiliates

    • Historic Financials GAAP Non GAAP Adjustments

    • Forward Estimates

    • Last Twelve Months (LTM), Calendarisation

    • Calculate Multiples & Sanity Checks

    • Interpreting Results

  • 16

    Closing Remarks

    • Closing Remarks

Reviews

5 star rating

Great job

Kaylee Jones

It does a great job of conceptually explaining the steps involved in doing the analysis.

It does a great job of conceptually explaining the steps involved in doing the analysis.

Read Less
5 star rating

Samantha Keith

Explains the case study of FB, Vodafone and Alphabet very well! Highly recommended.

Explains the case study of FB, Vodafone and Alphabet very well! Highly recommended.

Read Less
5 star rating

Aniket Mishra

Good Course!

Good Course!

Read Less

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