Valuation (Aswath Damodaran, NYU Stern, Spring 2025)

About this course

The full Spring 2025 undergraduate valuation class of Aswath Damodaran, the "dean of valuation", recorded at NYU Stern. Who it's for: finance students, analysts and investors who want to value companies properly. These are the free, official videos of the "Valuation Undergraduate Spring 2025" playlist from the Aswath Damodaran YouTube channel (youtube.com/@aswathdamodaranonvaluation). All videos belong to Aswath Damodaran; Sikhami is not affiliated with Aswath Damodaran and simply arranges the public playlist into a course, so you can learn one lesson at a time and keep track of your progress.

What you will learn

• Valuation approaches: intrinsic, relative and contingent claim • Discounted cash flow valuation: risk-free rates, equity risk premiums and cost of capital • Estimating cash flows: taxes, capital expenditure and working capital • Growth, terminal value and telling a story with numbers • Valuing young, declining, emerging-market and financial companies • Pricing with multiples, private company valuation and real options • Acquisitions and value enhancement

Course content

1 section · 28 lectures · 35h 4m

1. 1. Valuation Undergraduate Spring 2025

   • Valuation: A Preview4m
   • Session 1: Class Logistics and Structure1h 15m
   • Session 2: The Bermuda Triangle of Valuation1h 17m
   • Session 3: Valuation approaches (continued) and first steps on intrinsic value1h 17m
   • Session 4: The DCF Big Picture and first steps on Riskfree rates1h 17m
   • Session 5: Finishing up riskfree rates and moving on to risk premiums1h 17m
   • Session 6: Implied Equity Risk Premiums1h 18m
   • Session 7: Betas, relative risk and first steps on cost of debt1h 17m
   • Session 8: Cost of capital closure + First steps on cash flows1h 19m
   • Session 9: Tax rates, Cap Ex and Working Capital1h 18m
   • Session 10: FCFE Closure and First Steps on Growth1h 49m
   • Session 11: Closure on Growth and First Steps on Terminal Value1h 33m
   • Session 12: The Terminal Value44m
   • Session 13: Loose Ends in Valuation1h 20m
   • Session 14: Last Loose Ends + First Steps on Storytelling1h 17m
   • Session 15: More story telling and first company valuations1h 16m
   • Session 16: Valuing the market and companies across the life cycle1h 17m
   • Session 17: Valuing Declining, Emerging Market and Financial Service companies1h 34m
   • Session 18: Intrinsic Value Closure and Pricing Beginnings1h 27m
   • Session 19: Pricing Continued1h 17m
   • Session 20: Tariff Talk46m
   • Session 21 (UG) and Session 19 (MBA): Pricing Analytics and Peer Groups1h 16m
   • Session 22: Pricing Closure and Asset-based Valuation/Pricing1h 17m
   • Session 23: Private company valuation1h 15m
   • Session 24: IPO Closure and Introduction to Real Options42m
   • Session 25: Patents and Natural Resource Options1h 32m
   • Session 26: Distressed Equity as an Option and Acquisition Valuation1h 19m
   • Session 27: Closure on Acquisitons + Value Enhancement1h 28m