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Business
Valuations
Understanding Business Valuation – Trugman
Trugman, G. R. (2022). Understanding Business Valuation: A Practical Guide to Valuing Small to Medium-Sized Businesses (6th ed.). Business Valuation Resources.
The definitive guide to valuing privately held and mid-sized entities. Comprehensive, practitioner-focused guide to valuing closely held businesses, covering key valuation approaches, discounts and premiums, report writing, case law, and real-world examples.
Offers practical methodologies across income, market, and asset approaches. This edition expands real-world application cases, integrates AICPA valuation standards, and provides detailed sample reports.
Investment Valuation – Damodaran
Damodaran, A. (2025). Investment Valuation: Tools and Techniques for Determining the Value of Any Asset (4th ed.). Wiley Finance.
Technical yet accessible treatment of valuing almost any asset class, including public and private equity, distressed firms, real options, financial institutions, and emerging market companies. Blends theory with step‑by‑step models, extensive examples, and probabilistic tools to help analysts choose and implement appropriate valuation techniques.
This expanded 4th edition from valuation authority Aswath Damodaran modernizes the classic text with contemporary examples across public, private, and alternative assets. It incorporates fundamental techniques (DCF, relative valuation) with probabilistic approaches like scenario analysis and simulations.
Valuation – McKinsey, Koller, Goedhart, Wessels
Koller, T., Goedhart, M., & Wessels, D. (2025). Valuation: Measuring and Managing the Value of Companies (8th ed.). Wiley.
Standard corporate finance text on value creation and corporate valuation. Explains enterprise valuation, forecasting, capital structure, ROIC, and value‑based management with a strong practitioner orientation.
The updated 8th edition of this bestselling McKinsey guide provides a robust framework for measuring and managing corporate value. It combines core valuation techniques with modern topics like ESG, digital transformation, and growth strategy. Packed with case studies and strategic insights,
Comprehensive Guide for the Valuation of FLPs and LLCs – Partnership Profiles
Johnson, B. A., Jefferies, S., & Park, J. R. (2021). Comprehensive Guide for the Valuation of Family Limited Partnerships and LLC (6th ed.). Partnership Profiles, Inc.
The go-to practical manual for valuing family limited partnerships and family-owned LLC interests, this guide combines valuation techniques with empirical discount studies and best practices for marketability and control adjustments.
Walks through best practices for applying income and market approaches, using empirical discount data, and addressing IRS scrutiny. The latest edition, includes updated Partnership Profiles discount studies and detailed sample analyses tailored to holding‑type entities.
Methodologies and Challenges in Bankruptcy Valuation – Koeppel
Koeppel, M. R. (2025). Methodologies and Challenges in Bankruptcy Valuation. Lakelet Advisory Group LLC/Self-Published.
Focused treatment of valuing distressed and bankrupt entities. Discusses how standard income, market, and asset approaches must be adapted in insolvency settings, including forecasting under reorganization plans, priority and capital structure issues, and evidentiary challenges in court. Oriented toward practitioners involved in restructuring and litigation.
Tthis book addresses the unique methodologies, legal frameworks, and practical challenges in valuing companies under insolvency. It blends theory with real-world examples and forensic valuation strategies, helping professionals navigate high-stakes bankruptcy valuations with robust defensible approaches.
Bonus: Bruce C. Greenwald — Value Investing
Greenwald, B. C., Kahn, J. (2021). Value Investing: From Graham to Buffett and Beyond (2nd ed.). ISBN: depends on publisher. (Consider also including older editions if updated version exists).
Expands classic Graham‑and‑Dodd value investing into a modern, practitioner‑oriented framework. Covers asset, earnings power, and franchise valuation, competitive advantage, and portfolio construction, using case studies of leading value investors. While focused on public markets, the analytical lens is highly relevant to fundamental business and security valuation.
It emphasizes fundamental analysis, margin of safety, and intrinsic value determination. The best guide to the Replacement Cost Method (Asset Approach). Though it involves more investment than pure valuation, it enriches any valuation library with deep insights into valuation from a value-driven investment perspective.
Other Resources
National Association of Certified Valuators and Analysts
This is the book I had to master to obtain my CVA certification.
Luis Vale de Gato
