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Valuation: Measuring and Managing the Value of Companies, 3rd Edition

Valuation: Measuring and Managing the Value of Companies, 3rd Edition

McKinsey & Company Inc., Tom Copeland, Tim Koller, Jack Murrin

ISBN: 978-0-471-43672-0

Mar 2004

512 pages

Select type: E-Book



Completely Updated, Over 200,000 Copies Sold!

"A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies."
New York Times


"The book's clarity and comprehensive coverage make it one ofthe best practitioners' guides to valuation."
Financial Times

"Should serve very well the professional manager who wants to do some serious thinking about what really does contribute value to his or her firm and why."
The Journal of Finance

"Valuation is like a Swiss army knife . . . you will be prepared for just about any contingency."
—Martin H. Dubilier, Chairman of the Board, Clayton & Dubilier, Inc.

"This book on valuation represents fresh new thinking. The writing is clear and direct, combining the best academic principles with actual experience to arrive at value-increasing solutions."
—J. Fred Weston, cordner Professor of Money and Financial Markets, Graduate School of Management, UCLA

System Requirements:
Pentium II PC or greater
Windows 98 or later
20MB Hard Disk Space
Excel 97 / 2000 (Alone or part of Office 97 / 2000) w/Report Manager & Analysis ToolPak installed and enabled.
(Note: Formulas & Computations are not guaranteed in later versions of Excel)
Video Display: 800 x 600 recommended


Why Value Value?

The Value Manager.

Fundamental Principles of Value Creation.

Metrics Mania: Surviving the Barrage of Value Metrics.

Cash Is King.

Making Value Happen.

Mergers, Acquisitions, and Joint Ventures.

Frameworks for Valuation.

Analyzing Historical Performance.

Estimating the Cost of Capital.

Forecasting Performance.

Estimating Continuing Value.

Calculating and Interpreting the Results.

Multibusiness Valuation.

Valuing Dot.coms.

Valuing Cyclical Companies.

Valuing Foreign Subsidiaries.

Valuation Outside the United States.

Valuation in Emerging Markets.

Using Option Pricing Methods to Value Flexibility.

Valuing Banks.

Valuing Insurance Companies.


  • New chapters on value creation and measurement.
  • New chapter on valuing dot.coms and other hyper-growth companies .
  • New chapter on valuing cyclical companies.
  • New chapter on valuing companies in emerging markets.
  • Revised and expanded chapter on calculating the cost of capital.
  • Revised and expanded chapter on using option pricing methods to value flexibility.
  • Valuation, Third Edition is completely updated to reflect changing business conditions - featuring all-new major case studies, charts, and tables.
  •, a supporting website devoted to all things valuation.
"Information in the book is clearly presented. A good read which will enable you to approach corporate valuation with confidence." (Lloyd's List, 4th November 2000)
  • Descriptions of the actual valuation processes practiced by firms like McKinsey & Co.
  • A downloadable spreadsheet that allows students to immediately use valuation models presented in the book.
  • The highly acclaimed section on applying valuation focuses on topics such as multibusiness valuation, business valuation within the international context, mergers and acquisitions, and financial institutions.
  • Actual case studies revealing how techniques and principles are applied.