An entrepreneurial approach to DCF:
PVGO analysis

  • Author:
    Geoff Robinson
  • Level:
    Intermediate to Advanced
  • Study time:
    Always adding content
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Course overview
Valuation that separates ongoing business value from growth potential, a concept dating to Modigliani and Miller in the 1960s, is often overlooked in practical valuations. The standard DCF model fails to clarify if the value comes from the business's steady state or growth opportunities, blending all cash flows into one projection. A refined DCF approach that distinguishes steady-state value from growth-related value can provide better insight into a company's value creation or erosion.

PVGO analysis steps in to fill this void. You can gain deeper insights from your DCF and derive insights into the timing and origination of value creation. 

What's included?

  • Fundamental research written by Geoff Robinson
  • Analyst-curated insights
  • Embedded podcasts
  • Embedded videos
  • Downloadable models, where applicable

Who should read this?

This work should be read by financial analysts, corporate finance professionals, investment bankers, and portfolio managers who seek to enhance their valuation techniques. It is also highly relevant for academic researchers and students specializing in finance who are interested in the theoretical underpinnings of valuation as well as its practical applications. Entrepreneurs and business leaders looking to understand the value drivers of their companies will find this perspective particularly useful for strategic decision-making. Additionally, venture capitalists and private equity investors who regularly assess the growth potential of companies as a significant component of their investment decisions would benefit from the insights provided by this approach.

Why TheInvestmentAnalyst.com?

We are the only training house that is able to bring top-ranked analyst experience into your classroom. We buck the trend. Most training businesses recruit junior ex-bankers to become their trainer. Our instructors cut their teeth teaching and then gain senior experience with investment banks.
We believe, you could not be in better hands.

Geoff Robinson FCA FMVA MFM

Thought leader, instructor, writer, financial influencer, Former UBS Managing Director and 8x #1 ranked analysts EMEA Institutional Investor Survey
ABOUT Geoff
Geoff has had a varied career. He was a Managing Director within UBS Equity Research, leading their Global Fundamental Analytics franchise. During this time, he was #1, ranked 8x in the EMEA Institutional Investor Survey. Before UBS, he was a material equity investor and LBO co-investor in two market exited training consultancies. Geoff has a passion for learning and is well-known for his ability to break down complex subject matter and distil it to an audience in a digestible and engaging manner. He brings this passion to TheInvestmentAnalyst.com.