Financial Valuation Excellence
Real-world case studies and emerging trends in Australian financial valuation. We break down complex methodology shifts and regulatory updates that actually matter to practising analysts.
WACC calculations are shifting as Australian borrowing costs stabilise. We've seen three major banks adjust their beta assumptions for the mining sector—here's what changed and why it affects perpetuity growth rates.
12 January 2025
Not all EV/EBITDA ratios are created equal. A detailed look at normalisation adjustments that separate novice analysts from experienced practitioners—particularly relevant for companies with lumpy revenue patterns.
18 December 2024
Recent updates to RG111 affect how control premiums are documented in expert reports. The implications aren't dramatic, but they do require adjustments to your disclosure approach if you work in M&A.
9 January 2025The way we value businesses has shifted noticeably over the past few years. Here's a look at what's actually changed in practical terms.
When the 10-year government bond yield crossed 4%, most analysts had to revisit their standard discount rate assumptions. It felt like a return to pre-2020 normalcy, but the adjustment period was surprisingly tricky for teams used to ultra-low rates.
Environmental and governance factors moved from "nice to consider" to "expected in the model". Not every valuation requires extensive ESG analysis, but ignoring material sustainability risks now raises questions in peer reviews and regulatory scrutiny.
Blanket inflation assumptions stopped working. Analysts started differentiating between cost inflation, revenue pricing power, and real growth more carefully. The difference between nominal and real projections became a focal point in valuation debates.
Single-point valuations feel inadequate now. Most sophisticated work includes at least three scenarios with probability weightings. It's not just about showing a range—it's about demonstrating you've thought through different market conditions properly.
The professionals behind our research work across corporate finance, advisory, and institutional analysis.
Callum spent eight years in mid-market M&A before moving to independent advisory work. He specialises in manufacturing and industrial valuations, particularly businesses with complex capital structures. His DCF models are thorough—sometimes excessively so.
Rhiannon covers ASX-listed companies in the healthcare and technology sectors. She's particularly interested in how comparable company analysis breaks down when dealing with high-growth businesses that don't fit neat multiples. Her research notes tend to question conventional wisdom.