by Simon Cook | Mar 31, 2026 | Business Valuation
Private Company Discount Rates – the Elephant in the Room Private company discount rates differ fundamentally from discount rates implied by public-market models. This article explores why. Ask almost any valuer why the discount rate for a private company...
by Simon Cook | Feb 25, 2026 | Blog, Business Valuation
Business Valuation Multiples by Industry: The Power of Sector Consistency The latest DealStats Value Index Digest (Q1 2026) has been released with a focus on the general EBITDA multiple trend across all sectors. However, the real story actually seems to be the...
by Simon Cook | Feb 19, 2026 | Business Valuation
Business Valuation and Add-backs Add-backs impact business valuation. Many business owners have a “number” in their head for what their business is worth. However, the raw EBITDA in the books may tell a different story. Add-backs in small owner...
by Simon Cook | Feb 4, 2026 | Blog, Business Valuation
Business Valuation – Income Approach Business valuers often use the Income Approach as the primary business valuation approach. However, this approach assume that the business is profitable or expects to be profitable in the future. Business Valuation –...
by Simon Cook | Feb 4, 2026 | Blog, Business Valuation, Valuing financial instruments
How to value ZEPOs in private companies for financial reporting? What are ZEPOs? ZEPOS are a type of call option issued under an Employee Share Scheme. A call option provides the owner the right (but not the obligation) to purchase an underlying asset at a fixed price...
by Simon Cook | Oct 28, 2025 | Business Valuation, Risk
Valuation risk and return are interrelated. That is because investors expect higher returns for increased risk. Higher returns reduce value. Increased valuation risk and increased expected returns The figure below summaries the expected returns for different classes...
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