McKinsey & Company's #1 bestselling guide to corporate valuation, now in its Eighth Edition

The revised Eighth Edition of Valuation offers detailed, step-by-step explanations of how to easily and effectively measure and manage the value of companies. This book contains proven valuation frameworks that have been used successfully in McKinsey & Company's consulting work, including illustrative case studies that put the spotlight on practical judgments involved in developing and using valuations.

PRAISE FOR VALUATION

"The book's clarity and comprehensive coverage make it one of the best practitioners' guides to valuation."
--Financial Times

"Valuation ... is one of the most influential contemporary books about the world economy."
--The Economist

"A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies."
--The New York Times

Valuation has been the gold standard resource that financial professionals have relied on for over three decades to measure, manage, and maximize shareholder value. This new and up-to-date Eighth Edition offers practical tools you can use to solve real-world business problems. It reflects the latest developments in global financial markets, academic finance, and the authors' latest research and experiences.

The book reviews the foundations of value and explains fundamental and advanced valuation techniques, and special or unusual business situations. You'll learn how to develop a business portfolio strategy that considers which business units a corporation is best suited to own, and which might perform better under alternative ownership.

Valuation demonstrates how to accurately assess major transactions, like mergers, acquisitions, divestitures, and restructurings. It also shows you how to create a capital structure that integrates seamlessly with a company's strategy at an appropriate level of risk. New, in-depth case studies explain critical and evolving concepts in valuation, including planning, resource allocation, digital assets, sustainability, and managing for the long term.

You'll find proven valuation frameworks that McKinsey & Company has been using for decades in their consulting work. You'll also become familiar with the practical judgments you'll need to make when developing your own models and conducting valuations for yourself.

The newest edition of Valuation is a must-read for business analysts and managers, offering an insightful guide to long- and short-term strategy.

The #1 best-selling guide to business valuation, newly updated and revised

Valuation: Measuring and Managing the Value of Companies has been the gold standard in measuring and managing company value for more than 30 years. Now in its eighth edition, this acclaimed volume continues to help corporate executives, bankers, students, and other financial professionals around the world gain a deep understanding of valuation as well as allow their companies to create and maximize economic value.

Called "the best practitioners' guide to valuation" by The Financial Times and "the most influential contemporary books about the world economy" by The Economist, the newly revised eighth McKinsey's long tradition of excellence. In the book, a team of veteran McKinsey & Company professionals walk you through the foundations of valuation, advanced topics like valuing high-growth companies and digital assets, and managerial topics such as corporate portfolio strategy and acquisitions. You'll also discover:

• Clear, accessible chapters with detailed guidance on the fundamental principles of value creation
• Best practices to apply valuation to business strategy questions and communicate with investors
• How to analyze and forecast performance, the cost of capital, and put it all together in a coherent valuation

McKinsey & Company has been helping businesses, governments, non-profit organizations and other institutions grow and thrive for almost 100 years . Valuation's authors draw on that storied history to bring you the most relevant, accurate, intuitive, and practical guide to valuation on the market today.