Valuing bonds, stocks & companies

Valuation answers one question: what is this thing actually worth today? The answer is almost always the present value of the cash it will pay you, so this comes right after time value of money. Start with debt, the simplest case: Bond Valuation in 35 Minutes, then Bond Valuation Exam Training. Move to shares with Stock Valuation in 27 Minutes and Stock Valuation Exam Training. Finish with How to Value a Company in 26 Minutes, which pulls it all together. It uses WACC, covered later in Cost of capital & capital structure, so come back to it if that part feels new.