- 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.
Learning Outcome Statements
describe approaches for calculating the terminal value in a multistage valuation model;CFA® 2023 Level II Curriculum, Volume 4, Module 24
User Contributed Comments 1
User | Comment |
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ashish100 | Still too damn long |

I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.

Andrea Schildbach
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