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Valuation: Measuring and Managing the Value of Companies, 7th edition

At the crossroads of corporate strategy and finance lies valuation. This book enables everyone, from the budding professional to the seasoned manager, to excel at measuring and maximizing shareholder and company value.

John Wiley & Sons, 2020 | Tim Koller, Marc Goedhart, David Wessels

Valuation: Measuring and Managing the Value of Companies, celebrating 30 years in print, is now in its seventh edition (John Wiley & Sons, June 2020). Carefully revised and updated, this edition includes new insights on topics such as digital; environmental, social, and governance issues; and long-term investing, as well as fresh case studies.

Clear, accessible chapters cover the fundamental principles of value creation, analysis and forecasting of performance, capital structure and dividends, valuation of high-growth companies, and much more. Financial Times calls the book “one of the practitioners’ best guides to valuation.”

This book provides useful information, such as the following, for financial professionals in any location:

  • complete, detailed guidance on every crucial aspect of corporate valuation
  • explanation of the strategies, techniques, and nuances of valuation that every manager needs to know
  • details on both core and advanced valuation techniques and management strategies

In addition, the book’s companion website provides more information on key issues in valuation, including through videos, discussions of trending topics, and real-world valuation examples from capital markets.

Valuation: Measuring and Managing the Value of Companies is a handbook that can help managers, investors, and students understand how to foster corporate health and create value for the future—goals that have never been more timely.

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About the authors

The authors are all current or former consultants of McKinsey & Company's corporate-finance practice. Collectively they have more than 75 years of experience in consulting and financial education.

Tim Koller is a partner in McKinsey's Stamford, Connecticut, office, where he is a founder of McKinsey's Strategy and Corporate Finance Insights team, a global group of corporate-finance expert consultants. In his 35 years in consulting, Tim has served clients globally on corporate strategy and capital markets, mergers and acquisitions transactions, and strategic planning and resource allocation. He leads the firm's research activities in valuation and capital markets. Before joining McKinsey, he worked with Stern Stewart & Company and with Mobil Corporation. He received his MBA from the University of Chicago.

Marc Goedhart is a senior expert in McKinsey's Amsterdam office and an endowed professor of corporate valuation at Rotterdam School of Management, Erasmus University (RSM). Over the past 25 years, Marc has served clients across Europe on portfolio restructuring, M&A transactions, and performance management. He received his PhD in finance from Erasmus University.

David Wessels is an adjunct professor of finance at the Wharton School of the University of Pennsylvania. Named by Bloomberg Businessweek as one of America's top business school instructors, he teaches courses on corporate valuation and private equity at the MBA and executive MBA levels. David is also a director in Wharton's executive education group, serving on the executive development faculties of several Fortune 500 companies. A former consultant with McKinsey, he received his PhD from the University of California at Los Angeles.