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Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity Hardcover – July 10 2013

4.6 out of 5 stars 115 ratings

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From the Inside Flap

Praise for Financial Modeling and Valuation

"In Financial Modeling and Valuation, Paul Pignataro provides individual investors with an easy-to-use, step-by-step method for analyzing companies and their securities using the same financial modeling techniques used by professionals. By using Walmart, an American icon that is familiar to all, as a case study, Paul makes financial modeling come alive. Paul trained our staff in Beijing and is exceptionally well qualified to write this book."
—Jack Perkowski, Wall Street veteran; Author; and Founder and Managing Partner of JFP Holdings Ltd.; former CEO and Chairman, ASIMCO Technologies, one of the largest producers of automotive components in China

"Paul Pignataro's book is a treasure. He combines in one place a presentation of the concepts used in accounting and finance with the practical Excel ways to put them in action. This manual presents everything a student or a professional would like to understand about financial statements and valuation methods used in mergers and acquisitions. It is written in simple language, and the clarity of the exposé makes it a perfect companion for those who are involved in financial matters."
—Georges Ugeux, Chairman and CEO, Galileo Global Advisors; Adjunct Professor, Columbia Law School; former Group Executive Vice President, New York Stock Exchange

"Financial Modeling and Valuation is a key handbook for investment banking professionals and business students looking to get into the field. As a founder of a leading investment banking, private equity and hedge fund recruiting business, and as the former head of the analyst program at Morgan Stanley, I know the importance of demonstrated proficiency in financial modeling and valuation both during the hiring process and on the job. Finally, there exists a book that actually goes through the model building and valuation process in complete detail with methodologies critical to both budding analysts and experienced professionals."
—Eleni Henkel, Founder and Partner at Henkel Search Partners; former Managing Director and Global Head of Morgan Stanley's Analyst and Associate Programs

"Financial Modeling and Valuation offers an extensive overview of key fundamentals of investment banking, private equity, and M&A analysis. It will be of interest to students and discerning investors alike."
—Professor Charles H. McGill, NYU Stern School of Business; Advisor with several leading private equity firms

"I thoroughly endorse this financial 'model' work of art! Financial modeling and valuation methods are an art form of comparable analysis with a wide range of variables that can be considered quite subjective in terms of which method should be utilized. To become and stay informed, these mentioned models or tools can identify the proper program of analysis for 'rationalizing' a potential investment."
—Henry W. McCusker, Analyst, Journalist, and Publisher; Founder and Director of Research, Scimitar Equity

"This book contains all the basic concepts required to successfully apply for, and get a head start on, a career on Wall Street, whether as a sell-side analyst, an investment banker, or a private equity specialist. I especially value the focus on Walmart, because this company touches on so many sectors and trends in today's business world, from retailing to logistics to real estate."
—Julio Marquez, Partner, Wyndham Global Partners

From the Back Cover

As underwriters for companies issuing securities, investment bankers put a lot on the line every day. That's why, before committing to a particular business, they go to great lengths to develop as clear and detailed a picture as possible of that company's current financial standing—and generate an accurate projection of its future performance.

Likewise, as facilitators of mergers and acquisitions, investment bankers are tasked with finding answers to crucial questions such as, "How much is the company really worth? Is its stock overvalued or undervalued, and, if so, what is the most correct stock price?"

But when it comes right down to it, investment bankers aren't all that different from you or any investor looking to make money in the stock market. Unlike you, though, the big banks employ armies of analysts trained in the most sophisticated financial modeling techniques.

Designed to balance the scales and give individual investors like you the same competitive edge as today's most prestigious investment banks, Financial Modeling and Valuation arms you with many of the same analytical tools and techniques used by the likes of Goldman Sachs, JPMorgan Chase, and Bank of America Merrill Lynch.

Written for complete novices and experienced professionals alike, Financial Modeling and Valuation is a highly accessible, step-by-step guide to understanding and performing fundamental analysis and stock valuation.

Author Paul Pignataro, founder and CEO of the world-renowned New York School of Finance, takes a unique approach to educating you in the fundamental tools for assessing the soundness of a stock investment. Building on a book-length case study of Walmart, he shows you how to perform a deep-dive analysis of that company's financial standing, walking you through all the steps of developing a sophisticated financial model using a downloadable Excel template.

While the first part of the book is devoted to building a complete financial model of past and future performance, the second part focuses on stock valuation. Once again taking Walmart as the example, Pignataro clearly and methodically shows you how to use the three analytical methods used by Wall Street analysts to determine whether a stock is overvalued, undervalued, or valued appropriately: comparable company analysis, discounted cash flow analysis, and precedent transaction analysis.

As an added bonus, the Financial Modeling and Valuation companion website features a downloadable version of the Walmart model template, along with additional case studies, exercises, test questions, and a practice model and solution to let you test and fine-tune your analytical skills.

Schooling you in time-tested financial modeling and stock valuation techniques used by analysts at the world's top investment banks, Financial Modeling and Valuation will help you make smarter, more rational investment decisions.

Product details

  • Publisher ‏ : ‎ Wiley; 1st edition (July 10 2013)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 432 pages
  • ISBN-10 ‏ : ‎ 1118558766
  • ISBN-13 ‏ : ‎ 978-1118558768
  • Item weight ‏ : ‎ 664 g
  • Dimensions ‏ : ‎ 14.99 x 4.32 x 22.61 cm
  • Customer Reviews:
    4.6 out of 5 stars 115 ratings

About the author

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Entrepreneur specializing in Finance Education. Paul has built and successfully run several start-ups in the Education, Consumer Products and Technology industries.

Paul is managing partner of Caterson Consulting, a Merger, Acquisition, and Private Equity consulting firm.

He founded New York School of Finance, which provides finance education to banks, firms, and universities throughout the world.

Paul is also the author of the "Investment Banking and Private Equity in Practice"​ series of books published by Wiley Finance.

Since its publication, "Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity", the first book in the series, has been ranked #1 on in Finance Hot New Releases and #1 in Valuation Bestsellers.

His books are in 613 libraries and universities worldwide including, United Kingdom, Spain, Netherlands, Germany, Denmark, Austria, Italy, Malta, Bulgaria, Greece, Turkey, Cyprus, Egypt, Nigeria, Azerbaijan, Iraq, Qatar, United Arab Emirates, Oman, Namibia, Kenya, Taiwan, South Africa, Hong Kong, Philippines, New Zealand, Singapore, Australia and has been translated into simplified Chinese.

Prior to his entrepreneurial endeavors, Mr. Pignataro worked at TH Lee Putnam Ventures, a $1 billion private equity firm affiliated with buyout giant Thomas H. Lee Partners. Before that, he was at Morgan Stanley, where he worked on various transactions in the technology, energy, transportation, and business services industries. Some of the transactions included the $33.3 billion merger of BP Amoco and ARCO, the $7.6 billion sale of American Water Works to RWE (a German water company), the sale of two subsidiaries of Citizens Communications (a $3.0 billion communications company), and the sale of a $100 million propane distribution subsidiary of a $3 billion electric utility.

Customer reviews

4.6 out of 5 stars
4.6 out of 5
115 global ratings

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Miles P Roberts
5.0 out of 5 stars Great book
Reviewed in the United Kingdom 🇬🇧 on April 2, 2014
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4.0 out of 5 stars Very good book
Reviewed in the United Kingdom 🇬🇧 on September 28, 2013
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Adonis Fetahu
5.0 out of 5 stars One of the best financial modeling books in the market.
Reviewed in Germany 🇩🇪 on July 14, 2021
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5.0 out of 5 stars Excellent
Reviewed in France 🇫🇷 on April 16, 2014
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5.0 out of 5 stars Very good guide to get started in financial modeling
Reviewed in Germany 🇩🇪 on June 22, 2014
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One person found this helpful
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