Titlebook: Corporate Valuation; A Practical Approach Benedicto Kulwizira Lukanima Textbook 2023 The Editor(s) (if applicable) and The Author(s), under

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Tomasz Nowak,Piotr Skrzypczyńskis into a business, expecting returns from their investments. This chapter is about estimating the cost of debt using different approaches. The concept of the cost of debt, therefore, is defined according to the estimation approach and valuation implications.

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Free Cash Flow Discount Models: Cost of Capital Approachiding on an appropriate variable that suits the specific valuation circumstances of the company. This chapter endeavors to illustrate how to navigate a typically complex path toward reaching reasonably acceptable decisions.

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r indirectly through retained earnings to increase their net wealth. While earnings per share (EPS) is a book value, stock prices are driven by investors’ market perception about the company. Hence, market price is a measure of the current shareholders’ value created by the company.

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Tomasz Nowak,Piotr Skrzypczyńskiinvesting, and financing) and cash balance for the financial period. However, cash balance is not free cash flow (FCF); it is a key variable in corporate valuation. None of the three financial statements (balance sheet, income statement, and cash flow statement) are designed to show free cash flows.

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Wireless Communications Basics,re several reasons for this: the existence of numerous estimation approaches based on different growth concepts, analysts’ subjective decisions, which help determine an applicable growth rate, and the absence of an absolute growth rate for a particular company.