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Holland, David A.

Beyond Earnings: Applying the HOLT CFROI and Economic Profit Framework

Holland, David A. - Beyond Earnings: Applying the HOLT CFROI and Economic Profit Framework, ebook

48,40€

Ebook, PDF with Adobe DRM
ISBN: 9781119440505
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Beyond Earnings is targeted at investors, financial professionals, and students who want to improve their ability to analyze financial statements, forecast cash flows, and ultimately value a company.The authors demonstrate that reported earnings are easily gamed by accounting shenanigans and reveal how commonly used profitability measures such as return on equity can be misleading.

Because earnings and P/E ratios are too unreliable for valuation, this book takes you beyond earnings and shows you how to apply the HOLT CFROI and Economic Profit framework in a step-by-step manner.A better measure of profitability results in improved capital allocation decisions and fundamental valuations.

This ground-breaking book offers the first practical in-depth discussion of how profitability and growth fade, and shows how to put this information to work right away. The authors introduce their trailblazing Fundamental Pricing Model which includes fade as an adjustable value driver and can be used to value the impact of business model disruption.

As the authors explain, the key to superior stock picking is understanding the expectations embedded in a stock’s price and having a clear view of whether the company can beat those expectations. The HOLT framework has been rigorously field tested for over 40 years by global investment professionals to help them make better stock picks and by corporate managers to understand the expectations embedded in their stock price.

Beyond Earnings is an indispensable guide for investors who want to improve their odds of outperforming the competition.

Keywords: corporate valuation, stock selection, stock analysis, valuation models, screening stocks, valuation textbook, corporate valuation guide, advanced valuation techniques, calculating CFROI, advanced valuation calculations, HOLT CFROI applications, Economic Profit valuation, performance valuations, corporate performance analysis, performance calculations, business analysis valuation, M operating performance analysis, investor valuation, complex valuation models, modern valuation techniques, valuation best practices, HOLT, CFROI, mean-reversion, corporate profitability, fade, profit-reversion, persistence of corporate profits, profit persistence, sustainable growth, discount rate, market-implied, real yield, Fundamental Pricing Model, expectations investing, corporate lifecycle, competitive lifecycle, accounting to cash flow, Economic profit, company valuation, free cash flow valuation, cost of capital, financial performance analysis, value creation, value destruction, equity valuation

Author(s)
 
Publisher
John Wiley and Sons, Inc.
Publication year
2018
Language
en
Edition
1
Page amount
416 pages
Category
Economy
Format
Ebook
eISBN (PDF)
9781119440505

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