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# Share Valuation Course (Intermediate)

In The Value of Everything program (aka Share Valuation Course), I provide the ‘nuts and bolts’ of valuation theory, including discounted cash flow (DCF) analysis, dividend valuations, ratio analysis and more.

## What you’ll learn

The Value of Everything program, our intermediate share valuation course, is an easy-to-follow online course that will teach you to understand the most common valuation techniques, including:

• Value investing basics — intrinsic value 101, the margin of safety and risk;
• Valuation ratios (P/E, P/NAV, P/B, EV/EBITDA, dividend yield, earnings yield, etc.);
• Balance sheets – how to value the balance sheet of any company and ‘rebuild’ the statement to identify the key risks and competitive advantages;
• Earnings power value (EPV) – how to follow Bruce Greenwald’s valuation theory in real life and why the value of growth is very hard to estimate;
• Dividend discount models (DDM) – want to value banks or REITs? This tutorial offers an end-to-end application of dividend models to value businesses quickly and easily;
• Discounted cash flow (DCF) – this tutorial includes everything from how to calculate free cash flow, working capital, discounting future values and more;
• Internal rate of return (IRR) – when, how and why you should use IRR to value shares of businesses, and
• The weighted average cost of capital (WACC) – how to correctly calculate discount rates, apply valuation theory and risk weightings

Note: the course uses real-life case studies.

## Is the program too hard for me?

This program is our intermediate program. It’s designed for new and existing investors who want to understand how analysts make the decisions they make and how valuation theory can be applied.

You’ll fly through this program if you have:

• A basic understanding of spreadsheets (don’t stress, I’ll show you how to download the sheets and the programs I use), and

If you have already studied finance and investing, this program will help you in many ways — university will finally start to make sense!

## What’s the difference between this share valuation course and the Value Investor Program?

If you’re looking for my most comprehensive value investing material, please take our Value Investor Program instead of this one. I made the Value of Everything (intermediate) course quite a few years ago to include just the nuts and bolts of valuation theory.

By contrast, the Value Investor Program is my complete course and is end-to-end because it’s designed to cover all of the steps that professional analysts, DIY investors and portfolio managers take to find, identify, research, value and position their investments. For example, I cover not only how to value companies but the actual steps that are needed to find only the highest quality companies with competitive advantages.

When I invest, more than 90% of my time is taken up by the important work I do before I value a business or company. The Value Investor Program provides all of my workings, materials and theory for this 90%.

You can learn more about my Value Investor Program now or when you’re done with this free valuation course.

## "

Really great concepts covered thoroughly. Owen does a great job of taking a step by step approach in valueing stocks. Nothing is fluffed and I love the use of a real-life example throughout the tutorials. Highly recommend doing this tutorial to gain a better understanding of how to strategically pick stocks to invest in as opposed to gambling on stocks. ~Vipin Kannampuzha

5/5

## Our courses include:

### Expert instructors

Rask’s courses are often free or come at a super-low price point.

So why are our courses so cheap (or free)?

It’s pretty simple.

### We dream of a world in which everyone has equal access to free financial education and can invest with optimism for a better tomorrow.

We stand for YOU.

But what’s in it for us?

Our team didn’t win the birth lottery. We didn’t grow up in fancy houses with lots of money. Nor did we have parents that knew everything about high finance. We had to learn the hard way… and it wasn’t easy.

We dream of a world where everyone has equal access to honest, trustworthy information and courses from anyway, at any time.

The way we make money (or “keep the lights on”) is by asking users to pay a small, one-time fee for some of our courses.

(Side note: numerous studies of human psychology tell us that this small fee increases your chances of finishing the course.)

It’s also worth knowing that Rask is bigger than just courses, or podcasts.

Outside of Rask Education, we offer memberships and investment research to thousands of Australians. Memberships are our core business that supports the education we provide you here.

Absolutely!

FREE