Praise for Previous Editions
The #1 guide to corporate valuation is back . . . and better than ever!
“The best valuation book just got better. This edition’s greater emphasis on what drives value and how to measure it will improve the way practitioners conduct financial analysis and, ultimately, make strategic decisions. It is required reading for all executives.”
Professor Benjamin C. Esty, Harvard Business School, author of Modern Project Finance: A Casebook
“The bible in its field. Anyone wanting to understand what drives corporate value should read this latest edition.”
Dr. Raymund Breu, retired Chief Financial Officer, Novartis AG
“A ‘how-to’ guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies.”
New York Times
“The book’s clarity and comprehensive coverage make it one of the best practitioners’ guides to valuation.”
Financial Times
Also available from McKinsey’s suite of Valuation, Sixth Edition products:
Valuation DCF Model Download: is available as a download (978-1-118-87374-8) on www.wiley.com. It is also available via flatpack (978-1-118-87366-3) at online bookstores. This interactive version of McKinsey’s DCF Valuation model allows readers to conduct, with the guidance of McKinsey’s valuation techniques, their own valuation analysis of companies.
Valuation Workbook, Sixth Edition: Part of McKinsey’s esteemed Valuation approach, this companion workbook (978-1-118-87387-8) is a must-have guide to reviewing and applying the valuation concepts and techniques discussed in Valuation, Sixth Edition.
Value: The Four Cornerstones of Corporate Finance (978-0-470-42460-5) offers an executive overview of the core concepts of corporate finance and their ties to value. Intended for managers and students, this accessible guide offers a solid foundation to valuation.
Praise for Previous Editions
THE #1 GUIDE TO CORPORATE VALUATION IS BACK AND BETTER THAN EVER!
“The best valuation book just got better. This edition′s greater emphasis on what drives value and how to measure it will improve the way practitioners conduct financial analysis and, ultimately, make strategic decisions. It is required reading for all executives.”
PROFESSOR BENJAMIN C. ESTY, Harvard Business School, author of Modern Project Finance: A Casebook
“The bible in its field. Anyone wanting to understand what drives corporate value should read this latest edition.”
DR. RAYMUND BREU, retired Chief Financial Officer, Novartis AG
“A ′how–to′ guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies.”
NEW YORK TIMES
“The book′s clarity and comprehensive coverage make it one of the best practitioners′ guides to valuation.”
FINANCIAL TIMES
About the Author
McKINSEY & COMPANY is a management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Over the past seven decades, the firm’s primary objective has remained constant: to serve as an organization’s most trusted external advisor on critical issues facing senior management.
TIM KOLLER is a partner in McKinsey’s New York office. Tim has served clients in North America and Europe on corporate strategy and issues concerning capital markets, M&A transactions, and value-based management. He leads the firm’s research activities in valuation and capital markets issues. He received his MBA from the University of Chicago.
MARC GOEDHART is a senior expert in McKinsey’s Amsterdam office. Marc has served clients across Europe on portfolio restructuring, issues concerning capital markets, and M&A transactions. He received a PhD in finance from Erasmus University Rotterdam.
DAVID WESSELS is an adjunct professor of finance and director of executive education at the Wharton School of the University of Pennsylvania. Named by BusinessWeek as one of America’s top business school instructors, he teaches corporate valuation at the MBA and Executive MBA levels. David received his PhD from the University of California at Los Angeles.
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