Weekly Valuation — Valutico | January 12, 2024

Link to the Valuation

Sky Shocker

A routine Alaska Airlines flight escalated into a high-altitude drama when a Boeing 737 Max 9’s cabin panel detached at 16,000 feet. While the incident resulted in no severe injuries, it has renewed the focus on the 737 Max series’ history of safety issues.

Market Turbulence

Boeing’s shares experienced a significant drop of 10.5% in response to the incident, reflecting deep investor concerns stemming from the 737 Max’s history. Similarly, Spirit AeroSystems, responsible for the jet’s fuselage, also saw a decline in its stock value.

Trouble in the Air

More than just an isolated incident, this event is part of a series of challenges for Boeing, including technical issues and major accidents in the past. This history has led to extended groundings and substantial financial settlements for Boeing, affecting its public image and financial standing.

“We’re gonna approach this, number one, acknowledging our mistake. We are gonna approach it with 100% and complete transparency every step of the way.”

— Dave Calhoun, CEO of Boeing on 737 Max 9 investigations

Valutico’s View

Valutico’s analysis post-incident offers a contrasting picture of Boeing’s valuation. The DCF valuation stands at USD 45 billion, while Trading Comparables suggest a range of USD 50-90 billion, indicating a potential market overvaluation. This variance highlights Boeing’s market share as a significant factor in its market valuation.

Conclusion

The recent incident with the Alaska Airlines Boeing 737 Max 9 goes beyond temporary disruption, posing significant questions about Boeing’s commitment to safety and its long-term market position. The company’s response to this situation, particularly in light of the financial insights provided by Valutico, will be crucial in defining Boeing’s role in the competitive aerospace market.

Disclaimer 

This article is for informational purposes only and does not constitute investment advice. None of the information contained herein constitutes a solicitation, offer or recommendation to sell or buy any financial instrument.

The post Boeing 737 MAX: A new crisis sparks market turbulence appeared first on Valutico.

Weekly Valuation — Valutico | January 03, 2024

Link to the Valuation

Inside Visa

The origin of Visa Inc. goes back to the launch of the BankAmericard, a consumer credit program by Bank of America in 1958. The program was led by Mr. Dee Hock’s vision to bring together various banks as members of a “non-stock, for profit membership corporation” and operate credit cards under the ‘Visa’ franchise. Visa Inc. became a publicly traded corporation in 2008. Today, Visa has emerged as a global payments technology company that facilitates money movement and transactions across more than 200 countries and territories through VisaNet. The Company’s core products include credit, debit and prepaid cards. These cards are issued by the affiliated financial institutions and not by Visa itself since the Company is not a financial institution.

Diving into Visa’s Business Model & Competitive Landscape

Visa operates on an open-loop payment system. An open-loop system refers to a financial transaction network where transactions can occur between various parties, including consumers, merchants, financial institutions, and other service providers. Visa generates revenue through transaction processing fees, service fees, licensing, and other charges. Issuers, typically banks, provide Visa-branded cards to consumers, who use them to make purchases at merchants that accept Visa worldwide. The Visa network plays a crucial role in authorizing, clearing, and settling transactions, ensuring the seamless transfer of funds. 

As per the statistics published by Nilson Report in May 2023, the market share of Visa in the total purchase transactions on global general card networks for 2022 was 39% whereas the shares of Mastercard and UnionPay were 24% and 34% respectively.

Financial Outlook

Visa closed FY2023 (ending September 30) with a revenue of $32.7 billion (up 11% y-o-y) and GAAP net income of $17.3 billion (up 15% y-o-y). This growth has been driven by resilient consumer spending and post pandemic travel rebound as evidenced by 9% growth in global payment volumes and 20% growth in cross border volumes during the fiscal year. The Company expects FY2024 to be a normal year as the impact of Ukraine-Russia war and COVID-19 pandemic have been majorly mitigated. Moreover, the operating margins have been stable in the range of 68-70% over the past three years and are expected to remain in a similar range.

Stock Market Implications

The financial performance of Visa is strongly affected by macroeconomic factors. At the start of the COVID-19 pandemic in March 2020, the Visa’s stock fell by 15% year to date due to an uncertain economic environment. As the overall market recovered and digital payments replaced cash, Visa’s stock grew by almost 50% in July 2021 from the lows of March 2020. 

The Russia-Ukraine war that broke out in early 2022 led to global economies suffering from rising inflation and caused a hit to overall consumer spending. As a result, the stock fell by 15% year to date by September 2022 along with an overall market decline. With a gradual recovery in Visa’s revenue growth and increasing cross border transactions led by recovery of international travel trends, the stock price has again reached to $250 levels in December 2023. Visa is currently the 11th most valuable company globally in terms of market capitalization.

https://yhoo.it/4assXgt

Valutico Analysis

We conducted a thorough analysis of Visa employing the Discounted Cash Flow (DCF) methodology, particularly leveraging our DCF WACC approach, alongside a Trading Comparables analysis. The DCF analysis yielded a valuation of USD 367 billion, predicated on a WACC of 8.6%.

Additionally, the Trading Comparables analysis generated a valuation range of USD 220 billion to USD 290 billion, by utilizing observed metrics such as EV/EBITDA, EV/EBIT, and P/E ratios. For a robust comparative landscape, we enlisted similar market players like Mastercard Incorporated, American Express Company and Paypal Holdings, Inc. Based on our analysis, Visa is currently overvalued considering both the intrinsic value and valuation of its peers. However, higher valuation multiples of Visa versus its peers can be attributed to its higher market share and higher operating margins.

Visa is working towards strengthening its payment infrastructure as evidenced by its recent acquisitions of fintech companies such as Pismo, Currencycloud and Tink. Instant payment platforms such as UPI (India), Pix (Brazil) and FedNow (US) are set to compete with giants such as Visa and Mastercard with their growing and faster payment processing capabilities. Going forward, it shall be exciting to see if these new technologies will reduce Visa’s share in the global payments pie or in turn increase the overall pie size with increased adoption of digital payments, making Visa an even stronger player in the market?

Disclaimer

This article is for informational purposes only and does not constitute investment advice. None of the information contained herein constitutes a solicitation, offer or recommendation to sell or buy any financial instrument.

The post Visa: Dominating the Global Payments Industry appeared first on Valutico.

The Valutico team is excited to reveal a series of useful new features, now live in the main valuation platform. See below for the latest set of upgrades and watch this space in early 2024 for more to come soon.

New Professional Report Style:

What? We’ve completely modernized the report style, ensuring a more user-friendly experience. The logical structure and cleaner aesthetic enhance the presentation of results, all while preserving the customization features that provide the ability to white label your reports.

Where? Users can find the revamped style in Exports (look for «Modern»).

Why Important? An intuitive and visually appealing report style not only makes your findings more accessible but also allows for clearer communication. The customization options ensure that your unique insights can be presented in a format that aligns with your preferences and brand identity.

New Emerging Market Data (From EMIS):

What? We’ve integrated new emerging market transaction data from EMIS, a significant enhancement covered by major news outlets like Yahoo Finance and Asia One. New and existing customers can reach out to upgrade and access this valuable data that opens doors to critical insights.

Where? Available in Transactions Search.

Why Important? In today’s swiftly evolving business landscape, access to emerging market transaction data becomes indispensable, especially for valuation professionals working across Asia, Latin America, Eastern Europe, the Middle East, and Africa.

M&A — Minority, Control & Synergistic Value Adjustments:

What? Introducing a new ‘levels of value’ reporting graph that automatically adjusts company value for minority value (non-marketable & marketable), control value, and synergistic value.

Where? Find this new chart in the Valuation Report.

Why Important? The new adjustments enable a more nuanced understanding of company worth, catering to scenarios where minority ownership, control, and synergies play pivotal roles. This is invaluable for investors, analysts, and strategists who need to assess value based on these important situations.

Better Transaction & Peer Search Options:

What? Improved search capabilities across multiple transaction datasets simultaneously, with the added convenience of remembering your previous search criteria.

Where? Utilize these enhancements in Transactions & Peers.

Why Important? Efficient and comprehensive searches are fundamental to informed decision-making. The ability to search across multiple datasets at once, plus having your search criteria remembered, streamlines your workflow, allowing you to explore a broader range of data effortlessly.

Knowledge Base — Your Questions Answered:

What? A comprehensive Knowledge Base resource has been added to address all your queries on the platform, with exciting future plans for continuous expansion.

Where? Access answers in the Knowledge Base.

Why Important? Even though Valutico’s platform makes valuations simple, valuation is still a complex arena — having a centralized resource answering key questions provides additional support to all our users, and helps them make the most of the platform’s capabilities.

Resources Section Date Improvement:

What? We’ve added a ‘date picker’ across key resources sections, allowing you to examine risk-free rates, corporate tax rates, market risk premium, and country ratings across any historic date you select.

Where? Explore this feature in the Resources section.

Why Important? Historical context is essential in valuation. The ability to pinpoint specific dates ensures that your analyses consider the nuances of economic conditions and regulatory landscapes at the time, providing a more accurate and contextualized perspective.

What’s Next?

With each new improvement our platform becomes more powerful and refined for all our users’ needs. Stay tuned for more exciting and significant updates coming in early 2024.

The post Valutico Announces Six New Features   appeared first on Valutico.

Weekly Valuation — Valutico | December 01, 2023

Link to the valuation

Inside Netflix

Founded in 1997, Netflix, initially a DVD rental service, evolved into a streaming giant by 2007. With over 12,000 employees and 200 million subscribers worldwide, it has significantly influenced global entertainment consumption through its user-friendly platform, accessible on various devices. Netflix continues to lead in the evolving entertainment industry.

What’s happening with the company

Netflix has just experienced its largest rise of new subscribers since the COVID-19 lockdowns in 2020. Last quarter, Netflix managed to add 8.8 million global subscribers. In addition to this, their profit also increased as Netflix has become more strict with their password sharing. This surge in users, however, came hand-in-hand with a price increase. Netflix has just announced that its add-free plan will increase from $20 to $23 per month while their basic plan will go from $10 to $12 per month. The outcome of Netflix’s price hike is uncertain: it may boost profits with rising subscribers or risk customer dissatisfaction.

Financial Outlook

Netflix’s Q3 results showed immense growth and expansion. Due to their higher than expected subscription growth this most recent quarter, their revenue grew by 8% year-over-year which was more than anticipated. Netflix’s operating income in Q3 was $1.9B which is a 25% increase from 2022 Q3. Since Netflix has been experiencing higher engagement and is second in percentage of screen time usage behind YouTube, they have high expectations for Q4 and beyond. Many Netflix originals prove to be performing well which is part of the reason why they expect their Q4 revenue to be $8.7B, up 11% year-over-year. Netflix’s analysis and expectations are going in the right direction as they look to close out the year strongly.

Stock Market Implications

In the recent past, most notably in 2020 and 2021, Netflix experienced considerable growth in the stock market. Due to the COVID-19 shutdowns in 2020, new subscriptions increased dramatically. This positive influx persisted until 2022 when Netflix began to crack down on password sharing. As a result of more stringent rules on password sharing, many customers became unhappy and Netflix experienced a drop in their stock. After this dramatic shift downward, Netflix was able to regain some consumer confidence and they have started to reclaim some of their lost ground. After this most recent successful quarter, expectations are high and many believe Netflix is on the path to even greater success.

https://yhoo.it/3BbRwPf

Valutico Analysis

Link to the valuation

We conducted a thorough analysis of Netflix employing the Discounted Cash Flow (DCF) methodology, particula

rly leveraging our

DCF WACC approach, alongside a Trading Comparables analysis. The DCF analysis yielded an equity value of USD 125 billion, predicated on a WACC of 10.1%.

Additionally, the Trading Comparables analysis generated a valuation range of USD 85.4 billion to USD 150 billion, by utilizing observed metrics such as EV/EBITDA, EV/EBIT, and P/E ratios. For a robust comparative landscape, we enlisted similar market players like Alphabet Inc.(Youtube), Apple Inc. (Apple TV) and Amazon.com Inc. (Amazon Prime Video). Netflix is currently trading at a market capitalization of $209 billion which is significantly higher than the valuation range based on the trading multiples of the peers.

The higher trading multiples of the company can be partly attributed to the higher operating margins and sales growth forecasts compared to the median of the peers based on our analysis. However, we still believe the company to be overvalued considering the lower valuation ($125 billion versus the current market cap of $209 billion) from our DCF WACC Approach which is based on the analyst’s consensus estimates of the Company’s financial performance.

As we move ahead, there are questions about how well Netflix earnings will hold up and if the stock price is expected to undergo market correction?

Disclaimer 

This article is for informational purposes only and does not constitute investment advice. None of the information contained herein constitutes a solicitation, offer or recommendation to sell or buy any financial instrument.

The post Netflix hikes up prices after successful quarter appeared first on Valutico.

• Valutico, a leading valuation software provider, is now offering EMIS comprehensive mergers and acquisitions data to help users better assess the deal landscape, drive deal flow and capitalise opportunities in the world’s fastest-growing markets.
• The integration unlocks access to over one hundred thousand transaction records within these markets and provides detailed data for financial professionals.
• With the rapid growth of the emerging markets, Valutico leads in catering to the growing need for robust valuation technologies to professionally assess businesses in these markets.
• Valutico’s platform offers personalized transaction recommendations, further positioning Valutico as a transformative player in emerging market valuations.

Valutico, a global leader in valuation software, has introduced new emerging market data from the EMIS database into its system. This upgrade provides finance professionals comprehensive and current data crucial for valuing firms in primary emerging markets, such as South America, Eastern Europe, the Middle East, and Asia. 

The swift growth of emerging markets surpasses that of developed economies, projected to hit an average rate of 4.0% by 2024 against the 1.4% prediction of the latter by the IMF. These markets present a wealth of diverse and undervalued investment prospects, highlighting the need for robust valuation technologies to accommodate the brisk growth and investor demand.

By integrating EMIS M&A transaction data, Valutico gives its clients access to an impressive archive of over one hundred thousand transactions for these dynamic emerging markets. The critical data equips financial professionals with relevant information for accurate business valuation and offers a verifiable benchmark for real-time transactions.

For these markets, Valutico offers exhaustive transaction essentials, which include announcement dates, involved parties, target nations, and industries. Users can also delve into in-depth deal specifics, like stake purchases, deal amounts, and crucial multiples such as EV/Sales, EV/EBITDA, EV/EBIT and P/E. Detailed information on deals, buyer profiles, and industry medians can also be found within the system, making it an impressive and full-bodied tool for finance professionals.

Offering this essential data solidifies Valutico’s position at the forefront of business valuations in emerging markets. It equips finance experts worldwide with rigorous data to dissect and unlock latent potential utilizing a method previously inaccessible to them. This move ultimately enhances their precision in evaluating businesses in these burgeoning economies while providing a solid benchmark for real-time transactions.

Supplementing the extensive deal database, Valutico’s platform is also programmed to offer personalized transaction recommendations. This is a significant feature meant to support valuation professionals with their transaction selection and to facilitate competitor research for financial advisors.

CEO of Valutico, Paul Resch, affirms, «Valutico’s EMIS M&A transaction data integration heralds a transformative era in emerging market valuations. It equips finance professionals with the essential tools to accurately and efficiently assess companies in these regions, enabling confident decision-making even in the most intricate and demanding markets. With Valutico’s latest advancement, we are extremely happy to be delivering on our promise to support professionals to make the best valuation decisions in all key global markets.»

Diego Obere, Managing Director of EMIS, states:

«EMIS is excited to partner with Valutico, bringing our leading emerging markets M&A intelligence to their clients and enhancing their transactions coverage of the world’s fastest-growing markets.» — 

About Valutico

Valutico is the world’s leading valuation software provider. Its platform empowers finance professionals to make informed business decisions with accurate and timely valuations. Valutico’s customers include professionals in Banking, M&A, Corporate Finance, Audit, Tax, Accounting, Private Equity, as well as  Venture Capital.

Learn more at www.valutico.com

Contact: Alex Harris – a.harris@valutico.com

About EMIS

EMIS is a leading curator of multi-sector, multi-country research for the world’s fastest growing markets. We provide a unique combination of research from globally renowned information providers, local and niche specialist sources, our own proprietary analysis, and powerful monitoring and productivity tools. EMIS delivers trustworthy intelligence for over 370 industry sectors and 11 million companies across 197 markets. Everything you need in one place where actionable insights are facilitated by leading technology.

EMIS is part of the ISI Emerging Markets Group, which has been in the business of providing information on high-growth markets for over 30 years. 

Learn more at www.emis.com

The post Valutico Leverages EMIS Transaction Data to Enable Better Valuations of Emerging Market Deals appeared first on Valutico.

• Valutico, a leading valuation software provider, has partnered with Eden Exchange, Australia’s premier M&A marketplace for SMEs.
• The partnership will provide Eden Exchange users with quick and easy indicative valuations of their businesses, empowering them to make more informed decisions about when to sell and for how much.
• Valutico’s cutting-edge software, MyValutico, will be integrated into Eden Exchange’s platform, enabling thousands of companies on Eden Exchange to perform quick, indicative valuations.
• Valutico’s analytics and data offering will be enhanced as a result of the partnership, making Valutico even more tailored for financial professionals in Australia and surrounding regions.

Valutico, a leading valuation software provider, today announced its partnership with Eden Exchange, Australia’s premier M&A marketplace for SMEs. This groundbreaking partnership will provide Eden Exchange users with quick and easy indicative valuations of their businesses, empowering them to make more informed decisions about when to sell and for how much.

Valutico’s cutting-edge software, MyValutico, will be integrated into Eden Exchange’s platform, enabling thousands of companies on Eden Exchange to perform quick, indicative valuations. The software will also customize the valuation questionnaire, asking only pertinent questions informed by the data already collected by Eden Exchange.

The partnership will allow Eden Exchange to provide its users with a quick and easy way to get an estimate of the value of their business, without having to commission a full valuation report. This will help users to make more informed decisions about when to sell their business and for how much, at an early stage in the buy-sell process. 

The indicative valuations will be generated using Valutico’s proprietary valuation software, which is based on a variety of factors, including the company’s financial performance, industry, and location. 

In addition, it is planned that Valutico will get access to proprietary anonymized transaction data from Eden Exchange. This data will be used to enhance Valutico’s analytics and provide insights based on location, industry, and description, making Valutico’s software even more valuable and tailored, particularly for finance professionals in Australia and the surrounding regions. 

«Valutico’s mission is to make company valuation more accessible and understandable. Collaborating with Eden Exchange aligns perfectly with that mission,» said Paul Resch, CEO of Valutico. «This partnership not only expands our reach into the Australian market but also adds significant value to our data analysis, ultimately benefiting our customers.»

As both companies move into the future, they look forward to a long-term partnership.

Dhanush Ganglani, Managing Director at Eden Exchange also noted:

«Partnering with Valutico is another step towards revolutionising the way people are able to buy and sell businesses. Valutico’s technology leverages proprietary data on precedent transactions, democratising valuable information about public and private markets that is usually only available to the world’s top firms. Combining Valutico’s market-leading business valuation technology with Eden Exchange’s virtual deal room, DealXchange, allows us to provide more transparency to business buyers and sellers, helping them better understand the true value of a business.» — 

About Valutico:

Valutico is a valuation software company that offers cutting-edge solutions for businesses. Their software empowers users to perform valuations efficiently, accurately, and quickly, providing valuable insights for informed decision-making.

About Eden Exchange:

Eden Exchange is passionate about building an active community of buyers, deal makers, partners and sellers to enable successful transactions for all parties. We are actively working to revolutionise the way businesses are bought and sold, transforming the processes involved and ensuring that there is greater transparency and flexibility for anyone who is looking to buy or sell a business.

The post Valutico and Eden Exchange Team Up to Make Company Valuation More Accessible for SMEs appeared first on Valutico.

Financial due diligence is one of the most critical aspects of closing deals in the world of M&As. It’s the process through which potential investors, buyers, or partners thoroughly analyze a target company’s financials to determine its financial health and performance.

The findings of financial due diligence are then merged with those of other due diligence areas — like legal, operational, and technical— and used to determine whether or not a proposed deal should proceed.

In this article, we’ll tell you five top ways to make the financial due diligence phase of your next M&A more efficient.

1. Start Early

A common mistake many companies make is waiting until after they’ve sent a letter of intent to start looking into the target’s financials.

A much better approach is to start financial due diligence as soon as you develop an interest in a particular target company or asset. Use publicly available information to gain some early insights into its financial health and performance. This proactive approach provides numerous advantages. 

First, it can help you spot major financial discrepancies or inconsistencies early on. You can then determine the best course of action.  

For example, if you still believe in the target’s potential, you can start devising strategies to address your concerns. Alternatively, you can abandon the deal and redirect your efforts toward more promising opportunities.

Starting financial due diligence early can also arm you with a foundational understanding of the target’s finances — that you can use to tailor your approach when you make first contact. And once official discussions start, you can use the knowledge you already have to back up your positions or arguments.

2. Engage Industry Experts

Engaging experts from the industry in which your target operates is another great way to improve the efficiency of the due diligence process. 

Experts possess an in-depth understanding of the market and industry, allowing them to provide nuanced insights that your in-house analyst team might miss. They can help identify potential red flags or uncover hidden opportunities that might not be immediately apparent.

Industry experts also have an unbiased perspective. Since they’re not emotionally or financially tied to the deal, their evaluations are objective, which makes for a more transparent and genuine assessment. They can help you avoid costly missteps that might result from cognitive biases.

Another big plus of industry experts is their network. They can tap into industry contacts for additional insights, benchmarking, or validation, leading to a more comprehensive and contextual analysis of the target.

3. Look Beyond the Numbers

Financial due diligence aims to offer a comprehensive understanding of a business’s financial health, risks, and opportunities. But while raw financial figures can reveal a lot about a company, they don’t always tell the whole story.

Revenues, expenses, and profits can provide an overview of what has happened, but not necessarily why or whether this is sustainable. Not to mention, some companies can sometimes manipulate their financials to portray a more favorable position, i.e., window dressing.

To get a fully accurate picture of your target’s financial health and future potential, make sure to look beyond the numbers. 

For example, study the competitive landscape, market trends, and customer satisfaction. A detailed examination of these elements can provide useful context for some of the target’s financial figures, including helping you determine if these are sustainable.

4. Set a Clearly Defined Scope of Work

Before you begin the financial due diligence process, define the scope of the project. Write down the items or elements you’ll examine, how you’ll examine them, and the overall objectives you hope to achieve. 

A well-defined scope of work provides direction and can prevent you from straying into areas that aren’t important to the deal you’re pursuing. It can also help you:

• Allocate resources more efficiently.
• Ensure the right team is assembled.
• Ensure that tasks are appropriately delegated according to team members’ strengths and expertise.

One of the key items in your scope of work should be a financial due diligence checklist. This refers to a comprehensive list of items and information that you’ll use to assess the target’s financial health and performance.

Here are some of the most important items to include in your financial due diligence checklist:

1. Income statements 
2. Balance sheet 
3. Cash flow statements 
4. Tax records (including returns and audits)
5. Operating margin
6. Gross margin
7. Profit margin
8. Debt to equity ratio
9. Interest coverage
10. Asset turnover
11. Return on equity
12. Return on assets

An important note: It’s essential to try to strike a balance when setting the financial due diligence scope of work. While it should be specific enough to provide direction, it shouldn’t be so rigid that it prevents the exploration of unforeseen areas or elements that may emerge during the actual financial due diligence process.

5. Choose the Right Virtual Data Room

A virtual data room (VDR) is a digital vault where all stakeholders in an M&A deal, including the buyer, seller, financial experts, and legal professionals, can store and share sensitive documents and data.

A top-tier VDR streamlines and makes the financial due diligence process more efficient by offering a centralized location for all essential financial documents. This eliminates the need for repeated requests for documents from different parties — everything can be housed within the VDR for fast and convenient access.

A VDR can also help ensure the security of information and data during this phase of an M&A. Financial due diligence usually involves the exchange of sensitive and confidential documents. Any security breaches could lead to significant financial and reputational damages for all parties involved.

Leading providers of VDRs, like CapLinked, usually include robust security features, such as advanced encryption, to protect all sensitive information and data from illegal or unauthorized access. 

In fact, if you’re looking for a reputable VDR provider to partner with in your next M&A deal, look no further than CapLinked.

CapLinked’s virtual data rooms come with a user-friendly interface, military-grade security, and a suite of premium features — like customizable permissions, collaboration tools, and document and version management — which are designed to facilitate a smooth, fast, and efficient financial due diligence process. 

Want to find out more? Request a quote today.

Wrapping Up 

While financial due diligence is undoubtedly the most important component of due diligence, it’s the way you approach it that makes all the difference.

Use the tips we’ve outlined here to improve the efficiency of the process the next time your firm takes part in an M&A. A more efficient financial due diligence process can lead to more accurate valuations, a clearer understanding of potential risks and opportunities, and a smoother integration post-acquisition.

Sources:

Investopedia: Top 6 Websites for Finding a Company’s Financial Stats

EDUCBA: Window Dressing in Accounting

The post How to Make the M&A Financial Due Diligence Phase More Efficient appeared first on Valutico.

Whether you’re an investor, a potential buyer, or a business owner, knowing which valuation methods to apply is extremely important. In this article we explore some of the main valuation methods, including when to adopt them.

So, what are the main company valuation methods? There are three primary approaches under which most valuation methods sit, which include the income approach, market approach, and asset-based approach. The income approach estimates value based on future earnings, using techniques like the discounted cash flow analysis. The market approach compares the company to similar publicly traded businesses, or those recently sold or involved in some transaction. The asset-based approach evaluates net asset value by subtracting liabilities from total assets. Each method has its strengths and is chosen based on company specifics, industry trends, and valuation goals.

So before we dive into each approach and the methods that sit beneath them more thoroughly, let’s take a quick tour of key takeaways so you start off understanding some of the key insights.

Key Takeaways:

• Market cap is extensively used for publicly traded companies because it provides a straightforward way to gauge a company’s value based on the stock price and the number of outstanding shares. But this is not applicable when it comes to valuing private businesses.
• Three primary approaches exist including the income-based, market-based, and asset-based approaches.
• The choice of method depends on the type of business, industry, and the specific context of the valuation.
• The income-based approach determines a company’s value by assessing its anticipated future income-generating potential, employing methodologies such as Discounted Cash Flow (DCF) Analysis, Capitalization of Earnings, the Income Multiplier Method, Dividend Discount Model (DDM), and Earnings-Based Valuation.
• Market-based approaches gauge a company’s value by analyzing comparable market transactions and valuations. This is accomplished through methods like Comparable Company Analysis, Precedent Transaction Analysis, and Market Capitalization, which collectively offer insights into the company’s value within the context of the broader market landscape.
• Asset-based approaches determine a company’s value by evaluating its underlying tangible and intangible assets. These methods encompass Book Value, Liquidation Value, and Replacement Cost Analysis, providing a comprehensive understanding of the company’s value grounded in its assets’ worth and potential.
• DCF analysis is often considered the gold standard for intrinsic valuation but requires detailed financial data.
• Comparative methods like CCA and industry-specific methods are valuable for benchmarking.
• Valuation methods should be chosen based on the specific needs and goals of the valuation.
• There are a number of other valuation methods that do not neatly fall into the above categories due to their unique approaches or considerations depending on the type of company being dealt with. Some examples include Liquidation Valuation, Replacement Cost Valuation, Real Options Valuation and Contingent Claim Valuation
• Company valuation is influenced by several factors, including industry trends, market conditions, financial performance, competitive positioning, and the quality of management and leadership.

How Do I Value a Business? The Short Answer

In brief, accurately valuing a business often requires in-depth knowledge of valuation methods and industry specifics, something professionals develop expertise in over many years. However, it’s also possible for regular individuals to grasp the fundamental approaches used by experts and, in certain cases, make basic estimates of a business’s potential value through simple calculations.

While many people are familiar with market capitalization as a method for understanding the general worth of publicly traded companies based on the current market sentiment (itself based on company performance, etc.), there are different methods employed by professionals to provide company valuations. The primary approach often involves a version of Discounted Cash Flow (DCF) analysis, which may often be used in conjunction with a market-based approach like Comparable Company Analysis (CCA) or Comparable Transactions Analysis (CTA). However there are many variations.

A DCF analysis estimates a company’s value by projecting its future cash flows, making it well-suited for long-term investment decisions and assessing a company’s fundamental financial health. On the other hand, CCA compares a company to similar peers, facilitating relative valuation and benchmarking. These methods find common use in scenarios such as mergers and acquisitions, investment evaluations, and when seeking a comprehensive understanding of a company’s financial prospects. Additionally, asset-based valuation methods become essential when tangible assets or intellectual property represent a substantial portion of a company’s overall value.

What are the different Company Valuation Methods?

Before we dive into the specific valuation methods, it’s essential to understand the three topline categories of approach used to assess a company’s value:

Income-Based Valuation

Income-based valuation methods determine a company’s worth based on its expected future income-generating capacity. These approaches consider the company’s ability to generate profits and cash flows over time and discount them back to their present value to arrive at the current valuation.

Market-Based Valuation

Market-based approaches, also known as market value methods, directly use market prices and market metrics to determine a company’s value. These approaches rely on comparing the target company you’re valuing, to other similar companies via some financial metric, such as a P/E ratio.

Asset-Based Valuation

Asset-based valuation methods determine a company’s worth based on the value of its net assets, which includes tangible and intangible assets (minus its liabilities). These approaches may be particularly useful when a company’s intrinsic value is closely tied to its physical or intellectual assets.

Different approaches, or a combination of different approaches, may be applied depending on the company being valued and the purpose of the valuation.

Methods to Value a Business #1 — Income-based Approaches

i) Discounted Cash Flow (DCF) Analysis

The DCF is a widely used method that forecasts a company’s future cash flows and discounts them back to their present value using a discount rate. By considering the time value of money, DCF estimates a company’s future cash flows’ worth in today’s dollars, making it popular among investors and analysts for assessing growth and profitability. For a thorough description and explanation of a DCF, see our full DCF article here.

ii) Capitalization of Earnings

This method estimates a company’s value by dividing its expected annual earnings by a capitalization rate. The capitalization rate represents the expected rate of return investors would demand from the investment. This method is particularly useful for stable, mature companies with predictable earnings.

iii) Income Multiplier Method

The income multiplier method uses a multiple of a company’s earnings or cash flows to determine its value. This method is common in industries where valuations are commonly expressed as a multiple of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) or Earnings Before Interest and Taxes (EBIT).

iv) Dividend Discount Model (DDM)

Focuses specifically on valuing companies that pay dividends to their shareholders. It estimates a company’s value by discounting its future dividend payments back to their present value. The DDM assumes that dividends grow at a constant rate over time and provides a valuation based on expected future dividends.

v) Earnings-based Valuation

Earnings-based valuation methods use various metrics related to a company’s earnings to assess its value. The Price/Earnings (P/E) ratio, for example, compares a company’s stock price to its earnings per share, providing insight into the market’s valuation of its earnings generating capacity. Other metrics like the Earnings Per Share (EPS) and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) are also commonly used for earnings-based valuation.

Methods to Value a Business #2 — Market-based Approaches

i) Comparable Company Analysis (CCA)

CCA involves comparing key financial metrics, such as P/E ratio and P/B ratio, of the target company with those of similar publicly traded companies. This approach is commonly used in the valuation of private companies or companies without readily available market prices.

For Example:

Comparing «Company XYZ» in the technology industry with peers like Apple, Microsoft, Alphabet, Amazon, and Facebook. Analyzing financial metrics (P/E ratio, P/S ratio) of the group helps estimate Company XYZ’s valuation relative to its industry competitors. Adjustments are made for differences in growth prospects and market position. CCA provides insights to make informed investment decisions.

ii) Precedent Transactions Analysis (PTA)

PTA involves analyzing past acquisition deals in the same industry to assess the valuation multiples paid by acquirers for similar companies. This method provides insights into how the market values comparable companies in merger or acquisition scenarios.

iii) Market Capitalization

Market capitalization is a simple market-based method that calculates a company’s value by multiplying its current stock price by the number of outstanding shares. It represents the total market value of the company’s equity.

Ratios

i) EV/EBITDA (Enterprise Value to Earnings Before Interest, Taxes, Depreciation, and Amortization)

EV/EBITDA is a valuation ratio used to assess a company’s overall profitability before accounting for financing decisions, taxes, and non-cash expenses. It indicates how much an investor is willing to pay for a company’s operating earnings (EBITDA). A lower EV/EBITDA ratio suggests that a company may be undervalued, while a higher ratio could indicate an overvaluation.

For example:

Company ABC’s Enterprise Value is $2.5 billion, and EBITDA is $500 million. Calculating EV/EBITDA: $2.5 billion / $500 million = 5. The resulting ratio of 5 indicates that investors are willing to pay 5 times the company’s EBITDA for its enterprise value.

ii) EV/EBIT (Enterprise Value to Earnings Before Interest and Taxes)

Similar to EV/EBITDA, EV/EBIT is a valuation multiple that focuses on a company’s profitability, but it excludes the impact of depreciation and amortization. It provides insight into a company’s operational performance without considering the impact of non-cash expenses. A lower EV/EBIT ratio indicates a potentially better value for investors.

iii) EV/Sales (Enterprise Value to Sales)

EV/Sales is a valuation ratio that relates a company’s enterprise value (market value of equity plus net debt) to its total revenue. It measures how much investors are willing to pay for each dollar of a company’s sales. A lower EV/Sales ratio might suggest a more attractive valuation, while a higher ratio could indicate that the market values the company’s sales at a premium.

iv) Price/Earnings (P/E) Ratio

The P/E ratio compares a company’s stock price to its earnings per share. It is a popular metric for assessing a company’s relative value in relation to its earnings generating capacity. A higher P/E ratio typically indicates that investors expect higher future growth from the company.

v) Price/Book (P/B) Ratio

The P/B ratio compares a company’s stock price to its book value per share. It is used to assess a company’s valuation relative to its net asset value. A P/B ratio greater than 1 suggests that the market values the company’s assets above their book value.

Methods to Value a Business #3 — Asset-based Approaches

i) Book Value Method

The book value method calculates a company’s value by subtracting its total liabilities from its total assets, as recorded in its balance sheet. While this method provides a straightforward measure of a company’s net worth, it may not capture the true economic value of assets, particularly intangible assets like patents, copyrights, or brand value.

For example:

The book value of Microsoft Corporation is $119,639 million. This represents the net value of the company’s assets after deducting its liabilities. However, as mentioned before, book value is just one aspect of a company’s valuation, and investors consider various other factors and valuation methods to make well-informed investment decisions.

ii) Liquidation Value Method

The liquidation value method estimates a company’s value if its assets were sold off and its liabilities settled in a liquidation scenario. This approach is relevant in cases of distressed companies or bankruptcy, where the company’s assets are valued based on their fair market value in a forced sale.

iii) Replacement Cost Method:

The replacement cost method values a company based on the cost of replacing its assets at their current market prices. This approach is most applicable to asset-heavy industries, such as manufacturing or real estate, where the value of physical assets significantly influences the company’s overall worth.

Want to simplify your valuation calculations? Book a demo to see how the Valutico platform effortlessly calculates 28 valuation methods.

Other Valuation Methods and Approaches

In addition to the intrinsic, market-based, asset-based, and income-based valuation approaches, there are other less commonly used methods that can provide valuable insights into a company’s worth. While these approaches may be more specialized or applicable in specific situations, they contribute to a comprehensive understanding of a company’s value.

i) Liquidation Valuation

Liquidation valuation estimates a company’s worth in a worst-case scenario, assuming its assets are sold and liabilities settled. It is vital for distressed companies, bankruptcy, or assessing asset value during liquidation.

ii) Replacement Cost Valuation

The replacement cost valuation determines a company’s value by replicating its assets and operations. Common in asset-driven industries like manufacturing or natural resources, it assesses the benefits of building versus buying assets relative to market value.

iii) Real Options Valuation

Real options valuation enables a technology company to assess a new software project while considering flexibility in response to market changes. For instance, a company may have the option to abandon a project if the market doesn’t favor it, or expand it if it shows promising growth. This approach allows for better investment decisions.

iv) Contingent Claim Valuation

Contingent claim valuation is used to assess the value of companies with complex capital structures, such as those with convertible bonds or options. It considers the value of various claims on the company’s assets and cash flows, including debt, equity, and derivatives. This method is complex and requires advanced financial modeling techniques.

v) Real Estate Valuation

Real estate valuation methods are specifically tailored to assess the worth of properties, real estate assets, or real estate investment trusts (REITs). These methods consider factors such as location, property type, rental income, and future development potential to arrive at the property’s value.

vi) Venture Capital (VC) Method

The venture capital method is commonly used to value early-stage startups or companies seeking venture capital funding. It involves estimating the company’s potential exit value (through acquisition or initial public offering) and working backward to determine the present value that justifies the expected returns for investors.

vii) Economic Value Added (EVA) Valuation

Economic Value Added is a performance metric that calculates a company’s true profitability after deducting the cost of capital from its net operating profit. EVA valuation helps identify companies that generate value above their cost of capital and indicates their economic profit.

Market Value Ratios

Market value ratios offer valuable insights into a company’s value relative to its market price and other financial metrics. Some common market value ratios include:

Price/Sales (P/S) Ratio:

Compares a company’s stock price to its revenue per share, providing a measure of market valuation relative to sales.

Price/Cash Flow (P/CF) Ratio:

Compares a company’s stock price to its operating cash flow per share, offering insights into its valuation relative to cash generation.

Price/Earnings to Growth (PEG) Ratio:

Relates a company’s P/E ratio to its expected earnings growth rate, helping to identify undervalued or overvalued stocks relative to growth prospects.

Intangible Asset Valuation:

Valuing intangible assets, such as patents, trademarks, brand value, and intellectual property, is essential in industries where intangibles contribute significantly to a company’s worth. Various methods, like the Relief from Royalty approach or the Multi-Period Excess Earnings method, are used to estimate the value of intangible assets.

Option Pricing Models:

Option pricing models, like the Black-Scholes model, can be used to value a company’s equity or equity-based compensation plans, such as stock options or employee stock ownership plans (ESOPs).

Residual Income Valuation:

Residual income valuation measures a company’s economic profit by comparing its net income to the required return on equity. It focuses on the net income that exceeds the cost of capital and indicates whether a company is creating value for shareholders.

Sum-of-the-Parts Valuation:

This method breaks down a company into its individual business units or segments and values each segment separately based on relevant valuation techniques. The sum of the individual segment values gives the total company valuation.

Greenfield Valuation:

Greenfield valuation is used to assess the potential value of a new project or investment for a company. It considers the costs, cash flows, and risks associated with the new venture to determine its viability and potential returns.

Factors Affecting Company Valuation

A company’s valuation is influenced by a multitude of factors that reflect its financial health, operational efficiency, growth potential, and industry dynamics. Understanding these factors is crucial for conducting accurate valuations and making well-informed investment decisions. Some of the key factors affecting company valuation include:

i) Industry Trends and Market Conditions

The performance of a company is often linked to the overall health and growth prospects of its industry. Favorable industry trends and market conditions can boost a company’s valuation, while unfavorable trends may have the opposite effect.

ii) Financial Performance

A company’s historical and projected financial performance plays a significant role in determining its value. Factors such as revenue growth, profitability, and operating margins are closely scrutinized during the valuation process.

iii) Competitive Positioning

The competitive landscape and a company’s position within its industry are critical considerations in valuation. A company with a strong competitive advantage and market leadership may command a higher valuation than its competitors.

iv) Management Quality and Leadership

The competence and track record of a company’s management team are important factors that can impact its valuation. A strong management team with a successful track record can instill confidence in investors and positively affect the company’s value.

v) Economic Environment

The overall economic conditions, including interest rates, inflation, and GDP growth, can influence company valuations. Economic downturns may result in lower valuations, while strong economic growth can lead to higher valuations.

Each valuation approach has its strengths and limitations, and the choice of method depends on the company’s characteristics, the industry it operates in, and the context of the valuation. By considering a wide array of valuation approaches and understanding the factors that influence a company’s worth, investors, analysts, and businesses can make more informed decisions when assessing investment opportunities, making acquisitions, or evaluating their own financial health. As the financial landscape evolves, mastering these valuation techniques remains essential for navigating the complexities of the business world and maximizing value for stakeholders.

The post Company Valuation Methods—Complete List and Guide appeared first on Valutico.

Small and Medium-sized Enterprises (SMEs) are key players in driving economic growth, fostering innovation, and creating jobs. Recognized as firms with under 250 employees, their accurate valuation is highly important for many finance professionals. In this article, we’ll unravel how to value SMEs, including what you need to consider to do so accurately. 

How do I value an SME? Valuing a Small and Medium-sized Enterprise (SME) involves assessing the company’s financial performance, assets, market position, and growth potential. Key methods include the Income Approach, which estimates future cash flows, the Market Approach, comparing with similar businesses, and the Asset Approach, valuing tangible and intangible assets. Since SMEs often have distinct characteristics like varying cash flows and limited resources, these factors must be carefully considered to arrive at an accurate valuation.

Key Takeaways:

• Valuing Small and Medium-sized Enterprises (SMEs) is crucial for various financial decisions like mergers and acquisitions, investments, and reporting. It determines the economic worth of a company and is essential for informed decision-making.
• SMEs have distinct challenges that impact their valuation, such as unpredictable cash flows, reliance on limited clients, and restricted access to capital. A tailored approach is needed to account for these complexities.
• Common steps in SME valuation include gathering financial data, understanding the industry, choosing a valuation method, and calculating the value using chosen methodology and financial data.
• The three main methods for SME valuation are the Income Approach (e.g. Discounted Cash Flow analysis), Market Approach (e.g. Comparable Companies Analysis), and Asset-based Approach (e.g. net asset value calculation).
• SME valuation also considers factors like owner dependence, client concentration, market position, competitive advantage, and the quality of financial statements.
• The Discounted Cash Flow (DCF) is a leading valuation method that calculates value based on future cash flows, considering time value of money. Free Cash Flow (FCF) and discount rate (often determined using CAPM) are crucial components of this approach.
• SMEs can present challenges with DCF due to limited historical financial data, unreliable information, inadequate financial forecasts, and difficulty in determining terminal value. Approximations, negotiations, and considering illiquidity premiums help mitigate these challenges.
• SME valuation involves understanding different valuation methods and their narratives, tailoring approaches to SME characteristics, and using various components to arrive at an accurate depiction of the business’s value.

What is the Basic Idea behind an SME Valuation?

In its essence, business valuation is the process of determining a company’s economic worth, crucial for various scenarios like mergers and acquisitions, investment analysis, capital budgeting, financial reporting, or even litigation matters.

Why Are SME Valuations So Unique and Challenging?

SMEs, with their unique structures, present specific challenges that can significantly influence their value. These challenges could be unpredictable cash flows, reliance on a limited client base, or restricted access to capital. Thus, SME valuation requires a customized approach, acknowledging these intricacies.

What are the Main Ways to Value an SME?

Broadly speaking, you can value an SME by using one of three methodological approaches.

One common approach is considering the profits it makes and the money it’s expected to make in the future. This is known as the Income Approach, the main method of which is known as a Discounted Cash Flow analysis, which we detail below.

Another approach is comparing it to similar businesses that have been sold recently, similar to how real estate is appraised. This is known as the Market Approach and a common method within this approach is called Comparable Companies Analysis, for example.

The third broad approach involves looking at the assets the SME possesses, like equipment and property, minus any debts it owes. This is known as the Asset Approach.

Sometimes, the business’s reputation or special qualities can also play a role in its value. Experts might even combine a few methods to get a more accurate valuation. One common way might be to run the DCF as the leading technique to value the company, but then support this by running a Comparable Companies Analysis as well. 

As well as the three broad categories of valuation methods just described, there are a few steps that are usually required regardless of what type of approach you take. We outline these next.

Key Steps to Follow To Value an SME

As well as choosing the valuation method, there are some steps in valuing an SME that a valuation professional might take regardless of which valuation method they decide upon. These steps might look something like the following:

Gather Financial Information: Collect the company’s financial statements, tax records, cash flow statements, and any other relevant financial information. This will help you understand the company’s historical financial performance.

Understand the Industry: Research and gain a deep understanding of the industry in which the SME operates. Industry dynamics, trends, and growth prospects can impact the company’s valuation.

Choose a Valuation Method: There are several methods used to value SMEs, which we explore in more detail below. 

Calculate Valuation: Apply the chosen valuation method to the normalized financial data. For example, in the income approach, calculate the present value of future cash flows, or in the market approach, compare the SME’s ratios to those of comparable companies.

What are the Key Valuation Methods Used for SMEs?

As touched upon above, there are three primary methodologies used to value SMEs: the Asset-based Approach, Income Approach, and Market Approach. These methods offer unique insights and serve different purposes.

• Income Approach: This method focuses on the future, seeking to determine the profit a company can generate moving forward. The most popular technique under this approach is the Discounted Cash Flow (DCF) analysis, which projects future cash flows and discounts them to their present value. This method can be compared to farming, where the worth is estimated based on potential future harvests.
• Market Approach: This approach embodies the principle that ‘something is worth what someone is willing to pay for it‘. It estimates a company’s value by comparing it to similar companies that have been sold in the market. Alongside the DCF described above, the Market Approach is a widely adopted approach used by valuation practitioners. When valuing SMEs one challenge with this approach can sometimes be finding comparable businesses due to the SMEs unique characteristics.
• Asset-based Approach: This method functions like an inventory check, summing up a company’s tangible and intangible assets and subtracting liabilities, resulting in the company’s net asset value. It’s akin to estimating a house’s value by calculating the cost of bricks, cement, paint, and then subtracting any existing mortgages or debts.

What Additional Factors are Considered in SME Valuation?

When it comes to SMEs, there are additional factors to consider:

• Owner Dependence: SMEs often heavily rely on their owners. Thus, assessing the impact of the owner’s departure on the business value is crucial.
• Client Concentration: If a significant portion of revenue is derived from a few clients, this introduces risk, which could decrease the company’s value.
• Market Position and Competitive Advantage: A strong market position or unique competitive advantage can increase an SME’s value.
• Quality of Financial Statements: High-quality, well-maintained financial records can increase confidence in an SME’s value.

A valuation professionals may well consider many more risk factors in addition to those above, when performing a thorough and carefully considered company valuation.

What is the Role of the Discounted Cash Flow (DCF) Method in SME Valuation?

This method calculates the value of an SME based on its future cash flows, which are adjusted to account for the time value of money. To define both income and risk appropriately, we focus on Free Cash Flow (FCF) and the discount rate.

Free Cash Flow (FCF) is the liquidity available in the company that the owner can use without jeopardizing the company’s financial equilibrium. To calculate FCF, we follow these steps:

The discount rate integrates the risk and mirrors the opportunity cost of the operation. This rate is typically determined using the Capital Asset Pricing Model (CAPM) methodology.

The DCF valuation formula is as follows:

What difficulties arise when using the DCF method on SMEs?

While the DCF method is widely applicable, implementing it to value SMEs often presents some hurdles due to their unique characteristics. These challenges primarily lie in the following areas:

1. Information availability: SMEs can lack historical financial information. When available, this data might have been prepared for legal obligations rather than economic analysis.
2. Reliability of data: The information at hand might lack credibility due to the absence of external audits, which are typically not required for SMEs.
3. Future projections: Financial forecasts are often inadequate, delayed, or even non-existent, making it tough to project future cash flows.

To counter these challenges, analysts must reconstruct past financial statements and make informed predictions about the future. This often involves separating personal and business assets, filtering personal expenses from company expenses, and distinguishing between company and owner investments.

The discount rate is another contentious area. It needs to incorporate both the project risk and the opportunity cost, typically done using the CAPM method. However, market information required for CAPM, such as beta coefficients and risk premiums, may not be available for SMEs. To solve this, approximations are used, and an illiquidity premium is added to the rate to account for the lack of market for SME shares.

Lastly, determining the continuity value (or terminal value) is a subjective process that often leads to disagreements. A common method is to use the company’s Price-to-Earnings Ratio (PER), but it can be challenging for SMEs due to the absence of a market. Therefore, negotiations often play a pivotal role in reaching a consensus.

Key Considerations

Valuing an SME isn’t about choosing one method over another. Instead, it’s about understanding the narrative each method tells about the business and blending these narratives to arrive at the most accurate depiction of the company’s worth.

While SME valuation might seem like a daunting task at first, breaking it down into understandable components makes it approachable. Whether you’re an entrepreneur preparing for the next funding round or a budding investor ready to dive into the dynamic SME market, we hope the above has opened a window into the intricate and important world of SME valuations. 

The post How to Value an SME—An Introductory Guide appeared first on Valutico.

• Integra International Members Gain Privileged Access
• Alliance Saves Members Time and Costs 

Integra International, a global association of independent accounting and consulting firms based in London, and Valutico, a globally recognized leader in business valuation software,  are thrilled to announce their innovative collaboration. The new partnership marks a significant milestone for both companies,  uniting their strengths to offer excellent benefits to Integra International’s esteemed clientele.

Headquartered in Vienna with a subsidiary in London, Valutico has established itself as a prominent valuation platform, contributing to the evolution of business valuation methods used by finance professionals. Leveraging cutting-edge technology and data-driven tools, Valutico empowers finance experts to perform accurate company valuations in a matter of minutes. 

With a vast user base, similar to that of Integra International, comprising over 600 financial firms in 80 countries, Valutico’s powerful platform has become the go-to solution for professionals in various domains, including Corporate Finance, M&A, Tax and Audit, Investment Management, Accounting, Venture Capital, and for Family Offices.

Through this exclusive partnership, Integra International members will gain privileged access to a compelling discount on Valutico’s valuation platform. This unique offering underscores Integra’s commitment to enhancing its members’ capabilities and further empowering them to deliver exceptional value to their clients.

«We are delighted to formalize this partnership with Valutico, a true leader in the business valuation space” says Mark Saunders, Integra International, COO. “This collaboration provides a valuable benefit for our members, as it equips them with cutting-edge tools and insights to stay ahead in an ever-evolving financial landscape.»

As the world of finance continues to evolve, Integra International and Valutico are committed to providing Integra members with the best-in-class solutions, empowering them to thrive in their respective industries.

To experience the power of Valutico’s all-in-one software firsthand, interested parties can request a live demonstration by emailing and enquiring with Greg Brown at g.brown@valutico.com.

About Valutico:

Valutico is the world’s leading valuation platform, empowering finance professionals with data-driven tools to conduct analyses faster and more accurately. With a widespread presence across 80 countries and serving over 600 financial firms, Valutico has set the industry standard for business valuation solutions. Find out more about Valutico here.

About Integra International:

Integra International is a leading global association of independent  CPAs, Cas and business advisors dedicated to providing clients with the highest level of professional service.  Member firms offer expanded professional services to their clients, including meeting their national and international needs. To learn more about Integra International visit integra-international.net.

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