This course covers the fundamentals of how to value stocks and companies. This includes discounted cash flow (DCF)techniques. The course covers the valuation frameworks and how to obtain the inputs for those frameworks. This includes how to calculate firms' cost of capital.

Key topics covered include:

• Discounted cash flow valuation: what is it?why is it important?

• Dividend discount valuation model

• Free cash flow valuation models

• The cost of capital: cost of equity, preferred stock, and debt

These topics are key to succeeding in finance. Stock valuation is necessary for investment. It is fundamental to Value Investing, as propounded by luminaries such as Warren Buffett. It is also necessary within investment banking. Valuation also forms a key part of professional qualifications, including CFAand CAIA. This course is perfect for people who want a career in finance and/or people studying finance who want to succeed either at university or in professional exams.

The course includes material on discounted cash flow valuation. DCF valuation is a core valuation technique. Superficially, it sounds simplistic. It posits that the firm’s value is simply the present value of all future cash flows. But, this begs the questions of what cash flows to look at, how to determine those cash flows, and how to obtain the present value. This course helps to answer those questions so that you are in a better position to make a concrete assessment of a firm’s value and then apply this assessment to your own financial decisions.