THE LATEST EDITION OF THE GOLD STANDARD IN VALUATION TEXTS FROM "THE DEAN OF VALUATION"

Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Fourth Edition, is the definitive and most up-to-date valuation resource for finance professionals and students seeking to price virtually any fungible asset. Award-winning NYU Professor of Finance, Aswath Damodaran, explains the fundamentals of this nuanced subject before diving deep into more advanced applications, including the valuation of start-up firms, options, cryptocurrencies and other digital assets, real estate, private companies, and more.

The book explains the wide array of valuation models and frameworks available to you and how to choose the most suitable one for your particular use case. You'll learn to understand--and implement--the latest evidence-based methods for determining the value of an asset using real-world examples, case studies, and tables filled with data from contemporary companies in a variety of industries and regions.

Investment Valuation is an essential resource for business and finance professionals seeking a solid understanding of one of the most complex and critical subjects in commerce. It's perfect for analysts, traders, investors, bankers, entrepreneurs, businesspeople, finance executives, and anyone else who needs to understand what an asset--any asset--is worth.

Accurate valuation is at the heart of every sound investment decision. But ascribing a realistic price to an asset--whether that asset is a stock, bond, unit of cryptocurrency, option, or something else entirely--is notoriously difficult, especially in contemporary markets. Successful valuation requires discipline and a rigorous application of modern techniques.

In the newly revised fourth edition of Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, the award-winning Professor of Finance at NYU, Aswath Damodaran, delivers a comprehensive introduction to valuation for investment professionals and students. The book is fully updated to include the latest innovations in finance--including entirely new sections on pricing Bitcoin and gold--brand-new figures and tables populated with data that's current as of 2023, and refreshed case studies containing discussions of companies experiencing significant developments between 2020 and 2024.

Investment Valuation includes complimentary access to a library of updated and expanded online databases, spreadsheets, and other educational support tools at damodaran.com. The book--and its accompanying resources--demonstrate how to choose from the numerous valuation models and tools available to you for any particular real-world scenario.

The information contained within is accessible and understandable whether you approach the book from beginning to end or need to access only specific sections of the book to solve for a particular use case.

An essential read for retail and professional investors, Investment Valuation will also prove invaluable to a wide range of finance and business professionals, from investment bankers to finance executives at public and private companies, entrepreneurs, founders, managers, analysts, and others who need to know what assets are actually worth.

Updated edition of the definitive guide to investment valuation tools and techniques

Investment Valuation: Tools and Techniques for Determining the Value of Any Asset delves into valuation techniques for a variety of different asset classes, including real options, start-up firms, unconventional assets, distressed companies and private equity, real estate, and many more, and explains how to choose the right model for any given asset valuation scenario. The models are presented with real-world examples so as to capture some of the problems inherent in applying these models, with discussion of differences and common elements between the models to provide readers with a holistic understanding of the subject matter.

Written by a professor of finance who is widely regarded as one of the best educators and thinkers on the topic of investment valuation, this newly revised and updated Fourth Edition explores topics including:

• Understanding financial statements, the basics of risk, and tests and evidence for market efficiency
• Estimating risk parameters and costs of financing, terminal value, and equity value per share
• Using scenario analysis, decision trees, and simulations for probabilistic approaches in valuation

Investment Valuation: Tools and Techniques for Determining the Value of Any Asset is an essential resource for all investors and students of financial markets seeking an all-in-one guide to expand their valuation knowledge and make better investment decisions.