- CFA Exams
- 2023 Level II
- Topic 5. Equity Valuation
- Learning Module 24. 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
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ashish100 | Still too damn long |

I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.

Tamara Schultz
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