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My bookshelf has an entire section of books on valuation. Even though I deal with valuation every day, I haven’t looked at any of those books for at least a couple of years. It’s just not a process you need reference books for. Most of the time, acquisition valuations can be done without a spreadsheet – many professionals will work out the valuation on a whiteboard or even a post-it-note.
Valuation is challenging because it’s based on the ‘type’ of company and the ‘quality’ of earnings. Growth rate, predictability and market conditions conditions are also significant inputs to the valuation process.