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Glowlyconnect

Master Valuation Techniques That Actually Matter in 2025

Financial analysis has changed. The DCF models you learned five years ago aren't enough anymore. Markets move differently now, and analysts who stick to traditional methods miss what's happening underneath the numbers.

We've spent years working with analysts across Asia who needed something more practical than textbook theory. Something that works when markets behave unpredictably.

18 Weeks Comprehensive training starting September 2025
Live Cases Real valuations from Thailand market conditions
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Financial analyst reviewing valuation models and market data

Three Valuation Approaches We Actually Use

These aren't theoretical frameworks. They're methods we've refined through hundreds of real company valuations across different market cycles and industries.

Relative Valuation

Most analysts rush through comparables without understanding what makes them truly comparable. We spend serious time on peer selection because getting this wrong invalidates everything downstream.

  • Building meaningful peer groups that reflect actual business similarities
  • Adjusting multiples for structural differences in operations
  • Understanding when trailing metrics mislead and forward estimates help
  • Regional considerations that affect multiple application in Asian markets

Discounted Cash Flow

DCF remains powerful when you understand its limitations. The problem isn't the method—it's analysts who input garbage assumptions and expect meaningful outputs.

  • Building realistic cash flow projections that reflect business cycles
  • Terminal value calculations that don't dominate your entire valuation
  • Cost of capital estimation for emerging market companies
  • Sensitivity analysis that reveals which assumptions actually matter

Asset-Based Methods

When companies hold significant tangible assets or when liquidation scenarios become relevant, balance sheet analysis tells stories that income statements hide.

  • Identifying when asset values diverge significantly from book values
  • Real estate and inventory adjustments in Southeast Asian contexts
  • Intangible asset recognition and measurement challenges
  • Combining asset approaches with going concern valuations
Detailed financial valuation workspace with analysis tools

How Analysts Actually Improve at Valuation

From Template User to Critical Thinker

Marcus started our program in August 2024 after three years at a regional bank. He could run DCF models efficiently but struggled when senior analysts questioned his assumptions.

The breakthrough came during week seven when he had to defend a retail company valuation. Instead of accepting industry standard growth rates, he mapped actual store expansion plans and same-store sales trends across economic cycles.

"I realized I'd been letting Excel do my thinking. Now I build models that reflect how businesses actually operate, not how textbooks say they should."

Finding Context That Changes Everything

Priya joined us in November 2024 with solid technical skills but limited exposure to Thai market specifics. Her valuations were technically correct but missed crucial local factors.

Working through real estate company cases revealed how land ownership structures, regulatory approvals, and relationship-based business models affect valuation parameters in ways Western textbooks don't address.

"Understanding market context isn't extra work—it's the difference between a valuation that sits in a report and one that guides actual investment decisions."

Who Teaches This Program

We're practitioners who still do valuation work. Teaching forces us to explain what we often do intuitively, which makes our own analysis sharper.

Sirilak Chen, senior financial analyst and valuation instructor

Sirilak Chen

Valuation Methods Lead

Spent twelve years valuing companies across six industries before teaching. Started in equity research at a Singapore firm, moved into advisory work, now splits time between client projects and program development.

Focuses on relative valuation techniques and how to build defensible peer analyses. Often shares mistakes she's made so others can skip those particular learning curves.

Dr. Patricia Rawlings, DCF modeling specialist

Dr. Patricia Rawlings

DCF Modeling Specialist

Academic background in corporate finance, but spent most of her career doing actual valuations for M&A transactions. Joined us in early 2024 after consulting work across Southeast Asia.

Teaches discounted cash flow methods with emphasis on assumption testing and scenario analysis. Known for pushing students to question every input until they understand what truly drives value.

How the Program Actually Works

Eighteen weeks starting September 2025. Two sessions weekly, plus case work you complete between classes. Expect to spend 8-12 hours per week total.

01 Foundation

Understanding What Drives Value

We start by examining how different business models create value and why valuation approaches must adapt accordingly. You'll analyze several companies to understand operational differences that matter for valuation.

This phase establishes the framework for everything else. Rush through it and you'll struggle later when models produce counterintuitive results.

Students analyzing business models and valuation frameworks
02 Application

Building Valuations That Hold Up

You'll value six companies using different methods. Each valuation gets reviewed by instructors and peers who'll challenge your assumptions. This is where theoretical knowledge meets practical application.

Expect to rebuild models multiple times as you discover what works and what creates false precision. The goal isn't perfect valuations—it's developing judgment about which approaches suit different situations.

03 Integration

Synthesizing Multiple Perspectives

Final project involves a comprehensive valuation using all three major approaches. You'll reconcile different value indications and explain which methods deserve more weight given the specific company characteristics.

This mirrors real analytical work where you rarely have the luxury of clear-cut answers. Learning to communicate valuation conclusions with appropriate confidence levels matters as much as the technical work.

Next Program Begins September 2025

Applications open in June. We typically accept 24 participants to maintain quality interaction during case discussions.

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