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NYU Stern: Corporate Valuation →0/22
1

Class Logistics and Structure

1:15:51
2

The Bermuda Triangle of Valuation

1:17:16
3

Valuation Approaches (Continued) and First Steps on Intrinsic Value

1:17:50
4

The DCF Big Picture and First Steps on Risk-Free Rates

1:17:38
5

Finishing up Riskfree Rates and Moving on to Risk Premiums

1:17:02
6

Implied Equity Risk Premiums

1:18:22
7

Betas, Relative Risk and First Steps on Cost of Debt

1:17:16
8

Cost of Capital Closure + First Steps on Cash Flows

1:19:56
9

Tax Rates, Cap Ex and Working Capital

1:18:35
10

FCFE Closure and First Steps on Growth

1:49:10
11

Closure on Growth and First Steps on Terminal Value

1:33:01
12

The Terminal Value

44:54
13

Loose Ends in Valuation

1:20:42
14

Last Loose Ends + First Steps on Storytelling

1:17:17
15

More Storytelling and First Company Valuations

1:16:58
16

Valuing the market and companies across the life cycle

1:17:09
17

Valuing Declining, Emerging Market and Financial Service companies

1:34:58
18

Intrinsic Value Closure and Pricing Beginnings

1:27:59
19

Pricing Continued

1:17:10
20

Tariff Talk

46:44
21

Pricing Analytics and Peer Groups

1:16:15
22

Pricing Closure and Asset-based Valuation/Pricing

1:17:37

Last Loose Ends + First Steps on Storytelling

Aswath DamodaranDistinguishedNew York University

Professor

1:17:17·2025·undergraduate level

This lecture addresses the negligent treatment of stock-based compensation in valuation and introduces a five-step process for connecting qualitative business narratives to quantitative financial figures, bridging storytelling with numerical analysis.

EconomicsStock-Based CompensationValuation Loose EndsNarrative FinanceStorytelling in Valuation

During today's session we finished the last loose ends in valuation and started on connecting stories to numbers. The way in which companies and equity research analysts treat stock based compensation is criminally negligent and I hope that you found this session useful in clarifying your thinking on the topic. We then started on how story telling is at the heart of valuation, and a five step process for connecting stories to numbers. If you want a longer version of my stories to numbers session, you may prefer this Google talk version that I did a few years ago on the same topic: It is longer and in a little more detail. To put a bow on this part of the class, I have a blog post that you may find enjoyable about dysfunctional DCFs.

Source: Aswath Damodaran via YouTubeWatch on YouTube
LecturerAll lecturers →
Aswath DamodaranDistinguished

Kerschner Family Chair in Finance Education, NYU Stern

Professor of Finance at NYU Stern widely known as the 'Dean of Valuation' for his definitive courses on corporate finance and equity valuation.

1 course · 35 lecturesCanon
Previous · Lecture 13

Loose Ends in Valuation

Next · Lecture 15

More Storytelling and First Company Valuations

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