Business valuation

Instructor:

Aristide Ruot

Category:

Business valuation

Session day

12/6/2026

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I. Understanding the foundations of value

Discover the main principles of business valuation: economic rationality, strategic objectives, and uses depending on the context (sale, fundraising, taxation or litigation). This first step makes it possible to acquire a clear vision of recognized approaches and their economic logics.

II. Mastering professional methods and tools

From the practitioner method to the DCF, through transaction and stock market multiples, you will learn how to apply each method concretely according to the profile of the company and the availability of data. This phase also includes the construction of the WACC, the management of discounts and bonuses, as well as sensitivity tables.

III. Apply to a real evaluation case

Thanks to a common practical case, you will carry out a complete business assessment, from the scoping to the final report. You will learn to interpret the results, justify the differences between methods and build a clear and defensible summary in the face of an investor or a client.

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What is a business valuation?

Business valuation consists in estimating the economic value of a company at a given date, according to a specific objective: transaction, taxation, transfer, or strategic management. It is based on the analysis of financial performance, capital structure, assets and future prospects.

Why train in assessment?

Mastering valuation techniques is an essential asset for any financial, consulting or entrepreneurial professional. This training will allow you to analyze, compare and interpret the different approaches (cost, market, income, real options) while understanding their limits and conditions of application.

A rigorous and operational approach

At Hectelion, we designed this training to be rooted in real practice. Each module alternates theory, numerical examples and concrete cases from real missions. You leave with an automated Excel template, a professional glossary, and a clear understanding of the evaluator's reasoning.

MODULE 1

Introduction to business valuation

Understand the role and purposes of an evaluation (transfer, fundraising, taxation, management), as well as the main standards and standards used. steering), as well as the main standards and standards used.

MODULE 2

Preparing and framing the evaluation mission

Define the scope of the mission, collect financial, legal and fiscal documents, and ask the right questions to the client to understand the strategic context.

MODULE 3

Cost-based methods

Master the substantial value (NAV) and the method of practitioners, know how to reprocess the balance sheets, calculate latent reserves and understand the heritage logic.

MODULE 4

Market-based methods

Apply transaction and stock market multiples, estimate control premiums, minority and illiquidity discounts, and build sensitivity tables.

MODULE 5

Income-based methods

Evaluate the return value, calculate the WACC via the CAPM, update future flows (DCF), and analyze the sensitivity of the value to the cost of capital and the terminal growth rate.

MODULE 6

Methods based on real options

Discover the real options approach (Black-Scholes, CRR, Monte Carlo) and understand how to value the strategic or technological flexibility of a company.

MODULE 7

WACC construction and sensitivity analysis

Learn how to determine the cost of equity and debt, weigh financing structures, and measure the impact of each hypothesis on the final value.

MODULE 8

Summary and presentation of results

Structuring a professional valuation report: presentation of the company, approach by method, summary of enterprise value and equity value, glossary and appendices.

MODULE 9

Q&A and final quiz

Consolidate achievements through a series of questions and interactive exchanges, to ensure the mastery of the concepts and their concrete application.

MODULE 10

Complete evaluation case

Implement the various methods based on a real case: reprocessing of accounts, automated calculations in Excel, comparison of values and interpretation of results.

Who is this training for?

This training is aimed at managers, investors, financial analysts, chartered accountants and consultants who want to understand or practice business valuation in a professional setting (sale, fundraising, transfer or strategic management).

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What are the requirements to participate?

No formal prerequisites are required. A basic knowledge of accounting or corporate finance is an asset, but the training is designed to be accessible to all profiles wishing to strengthen their financial expertise.

How long does the training last?

The training takes place over a full day (8 hours): a morning dedicated to theory and key concepts, followed by an afternoon entirely devoted to a practical case of evaluation in Excel.

What deliverables are included?

Each participant receives:

The complete training material (PDF)
An automated Excel assessment model (DCF, multiple, practitioners)
A professional glossary
A quiz and a summary sheet of methods.

What assessment methods are covered?

The training covers all recognized approaches:

Based on costs: substantial value, practitioner method
Market-based: transaction and stock market multiples
Based on revenue: DCF and return value

Does the training include a practical case?

Yes. The practical case is at the heart of the training. Each participant carries out a complete business valuation based on real data: reprocessing of accounts, calculation of the CMPC, multi-method valuation and interpretation of differences.

What skills will I acquire?

At the end of the training, you will be able to:

Identify the evaluation method best suited to a given context
Calculate enterprise value and equity value
Building and interpreting a DCF model
Analyze the differences between methods and argue your results in front of an investor or a client.

What tools are used during the training?

The exercises are done on Microsoft Excel, with an automated model provided by Hectelion. Examples of multiples come from real sources.

Does this training provide a certificate?

Yes, a Hectelion participation certificate is given to each participant, attesting to mastery of the foundations and professional methods of business valuation.

Why follow this training at Hectelion?

Because it combines technical rigor, field vision and concrete tools. You will not only learn the formulas, but also the strategic logic behind each approach, as applied in investment banks, M&A firms, and financial departments.

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