Valuation Tools Webcast 8 Terminal Value

Summary

It is the biggest number in any discounted cash flow Accountants routinely miscategorize leases and treat them as operating expenses (instead of financial expenses). In this R&D is really capital expenditures (for technology and pharmaceutical companies) but accountants treat it as operating expenses. Look at what an implied ERP is and how best to compute it. It is a central input into corporate finance and Financial statements are increasingly filled with fluff and knowing how to separate what matters from what does not is critical. The return on equity and invested capital are key to estimating growth and