Valuation: Measuring and Managing the Value of Companies [Hardcover]

The #1 best-selling guide to business valuation, newly updated and revised

Valuation: Measuring and Managing the Value of Companies has been the gold standard in measuring and managing company value for more than 30 years. Now in its eighth edition, this acclaimed volume continues to help corporate executives, bankers, students, and other financial professionals around the world gain a deep understanding of valuation as well as allow their companies to create and maximize economic value.

Called the best practitioners' guide to valuation by The Financial Times and the most influential contemporary books about the world economy by The Economist, the newly revised eighth McKinsey's long tradition of excellence. In the book, a team of veteran McKinsey & Company professionals walk you through the foundations of valuation, advanced topics like valuing high-growth companies and digital assets, and managerial topics such as corporate portfolio strategy and acquisitions. You'll also discover:

• Clear, accessible chapters with detailed guidance on the fundamental principles of value creation
• Best practices to apply valuation to business strategy questions and communicate with investors
• How to analyze and forecast performance, the cost of capital, and put it all together in a coherent valuation

McKinsey & Company has been helping businesses, governments, non-profit organizations and other institutions grow and thrive for almost 100 years . Valuation's authors draw on that storied history to bring you the most relevant, accurate, intuitive, and practical guide to valuation on the market today.

About the Authors ix

Preface xi

Acknowledgments xv

Part One Foundations of Valuels­