Table of Contents from Sample Valuation Report
Summary
Introduction
Description of Assignment
Description of the Company
Capitalization and Ownership
Definition of Fair Market Value
Other Definitions of Value
Liquidation Value
Book Value
Enterprise Value
Going-Concern Value
Provisional, Economic or Investment Value
Purpose and Scope of the Report
Sources of Information/ Contingent and Limiting Conditions
Statement of Independence
Appraisers Certification
U.S. Economic Outlook
General Overview
Industry Specific Overview
District Economic Outlook
General Overview
Industry Specific Overview
Fundamental Position of the Company
Background
Operations
Employees and Management
Marketing
Suppliers
Competition
Facilities
Expansion Plans
Summary of Positive and Negative Factors
Prior Stock Transaction
The Search for Comparable Companies
Financial Statement Analysis
Adjustments to Balance Sheet
Adjustments to Income Statements
Margin and Ratio Analysis
Cash Flow Analysis
Projections Utilized
Appraisal of Fair Market Value
The Selected Method
Approaches Considered but Not Used
Valuation Approach Summary
Asset Approaches
Asset and Income Approaches
Market Approach
Income Approaches
Discount and Capitalization Rates
The Discount Rate
The Capitalization Rate
The Weighted Average Cost of Capital (WACC)
The Marketability Discount Rate
The Minority Interest Discount Rate
Valuation Results
Conclusion
Appendix A: Valuation Analyst Qualifications
Appendix B: Exhibits
Appendix C: Company Financial Statements
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