Fundamental Analysis Overview
Fundamental analysis is a stock valuation methodology arrived at by performing security analysis. An appropriate security analysis forms the basis of successful investment decisions.This module aims at providing a basic insight about fundamental analysis and various valuation methodologies used.
Who will benefit Fundamental Analysis course?
- Students of Management and Commerce
- Finance Professionals
- Stock Analysts
- Employees with Treasury & Investment division of banks and financial institutions
- Anybody having interest in this subject
Fundamental Analysis Fees
|Module Fees||GST @ 18%||Total Fees|
Total Fees : Rs.2006/- (Rupees Two Thousand and Six Only). inclusive of GST.
Why should one take this course?
- To have a basic understanding about fundamental analysis.
- To learn the various valuation methodologies
Fundamental analysis is sometimes considered to be a foundation of solid investing. It helps you determine the underlying health of a company by examining the business’ core numbers: income statements, earnings releases, balance sheets, and other indicators of economic health. From these fundamentals, potential investors can evaluate if a stock is under- or over-valued.
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Fundamental Analysis Syllabus
CHAPTER 1: Fundamental Analysis: An introduction
- What is fundamental analysis?
- Why is fundamental analysis relevant for investing? – Efficient Market Hypothesis (EMH), Arguments against EMH, Does fundamental analysis work?
- Steps in Fundamental Analysis
CHAPTER: 2 Brushing up the Basics
- Concept of “Time value of Money”
- Interest Rates and Discount Factors – Opportunity cost, Risk-Fr ee Rate, Equity Risk Premium, the Beta, Risk Adjusted Return (Sharpe Ratio)
CHAPTER 3: Understanding Financial Statements
- Where can one find financial statements – The Director’s Report, The Auditor’s Report, Financial Statements: Balance Sheet, Income Statements, Schedules and Notes to the Accounts, Cash Flow Statement
- Financial Statement Analysis and Forensic Accounting
- Comparative and Common-size financial statements
- Financial Ratios
- Du-Pont Analysis
- Cash Conversion Cycle
- The Satyam case and need for forensic accounting
CHAPTER 4: Valuation Methodologies
- Top-Down valuation (EIC Analysis) – Economy, Industry, Company
- Discounted Cash Flow (DCF) Models
- Dividend Discount Model (DDM)
- Free Cash Flow to Firm (FCFF) and Free Cash Flow to Equity (F CFE) based DCF
- Some of the parts (SOTP)
- Price-to-Earnings (PE) ratio
- Price-to-Book value (PB) ratio
- EV / EBITDA
- Price to Sales (P/S) ratio
- Special cases of valuation – IPOs, Financial Services firms, net interest margin (NIM), Firms with negative cash flows, Acquisition valuation, distressed companies