- CFA Exams
- 2025 Level II
- Topic 5. Equity Valuation
- Learning Module 22. Free Cash Flow Valuation
- Subject 6. Terminal value
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Subject 6. Terminal value PDF Download
Terminal value = forecast value at beginning of normal growth phase.
Estimation methods:
- Apply multiple (P/E).
- Use Gordon growth model.
User Contributed Comments 1
User | Comment |
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ashish100 | Still too damn long |

I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!

Barnes
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