CFA LEVEL 1- Equity Analysis and Valuation
SKU: UA9586C7765
Rs. 4999 Rs. 4999 ( % Off )
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Online Course

 

Basic Info           : CFA LEVEL 1- Equity Analysis and Valuation Level                   : CFA LEVEL 1 Commitment     : 12 hour (6 sessions of 2 hours each) Language           : English Schedule Date:

What Will I Learn

When you are done with this course, you will be able to:

  • Determine the characteristics of equity securities and conduct analysis and valuation of equity securities
  • Understand various equity types including public and private equities
  • Evaluate companies with three main equity valuation approaches (present value, multiplier, and asset based)
  • Gain a holistic approach for global equities and attain framework for conducting industry and individual company analysis

Curriculum

Session 1

  • Overview Of Equity Securities
  •   •  Characteristics of types of equity securities
  •   •  Describe differences in voting rights and other ownership characteristics among
  •   •  Different equity classes
  •   •  Public and private equity securities
  •   •  Methods for investing in non-domestic equity securities
  •   •  The market value and book value of equity securities
  •   •  Compare a company’s cost of equity, its (accounting) return on equity, and investors’ required rates of return

Session 2

  • Introduction To Industry And Company Analysis- I
  •   •  Uses of industry analysis and the relation of industry analysis to company analysis
  •   •  Compare methods by which companies can be grouped, current industry classification systems, and classify a company, given a description of its activities and the classification system
  •   •  Explain the factors that affect the sensitivity of a company to the business cycle and the uses and limitations of industry and company descriptors such as “growth,” “defensive,” and “cyclical”
  •   •  Learn how a company’s industry classification can be used to identify a potential “peer group” for equity valuation

Session 3

  • Introduction To Industry And Company Analysis- II
  •   •  Elements that need to be covered in a thorough industry analysis
  •   •  The principles of strategic analysis of an industry
  •   •  The effects of barriers to entry, industry concentration, industry capacity, and market share stability on pricing power and price competition
  •   •  Industry life cycle models, classify an industry as to life cycle stage
  •   •  Limitations of the life-cycle concept in forecasting industry performance
  •   •  Characteristics of representative industries from the various economic sectors
  •   •  Macroeconomic, technological, demographic, governmental, and social influences on industry growth, profitability, and risk

Session 4

  • Equity Valuation: Concepts And Basic Tools- I
  •   •  Evaluation of a security, given its current market price and a value estimate, is overvalued, fairly valued, or undervalued by the market
  •   •  Major categories of equity valuation models
  •   •  Regular cash dividends, extra dividends, stock dividends, stock splits, reverse stock splits, and share repurchases
  •   •  Dividend payment chronology
  •   •  The rationale for using present value models to value equity

Session 5

  • Equity Valuation: Concepts And Basic Tools- II
  •   • Dividend discount and free-cash-flow-to-equity models
  •   • Calculate the intrinsic value of a non-callable, non-convertible preferred stock
  •   • Calculate and interpret the intrinsic value of an equity security based on the Gordon (constant) growth dividend discount model or a two-stage dividend discount model, as appropriate
  •   • Identify characteristics of companies for which the constant growth or a multistage dividend discount model is appropriate

Session 6

  • Equity Valuation: Concepts And Basic Tools- III
  •   • Rationale for using price multiples to value equity, how the price to earnings multiple relates to fundamentals, and the use of multiples based on comparable
  •   • Calculate and interpret the following multiples: price to earnings, price to an estimate of operating cash flow, price to sales, and price to book value
  •   • Enterprise value multiples and their use in estimating equity value
  •   • Asset-based valuation models and their use in estimating equity value
  •   • Advantages and disadvantages of each category of valuation model

Includes

Interactive Sessions

Session-specific Assignments(* Condition Apply)

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