Equity Analysis and Valuation closes the gap between the theoretical treatment of equity valuation and the actual practice of valuing a company using real-world data. While the underlying theories of financial analysis and valuation are given their due, the goal is always to answer the question, "What is this company really worth?". Equity Analysis and Valuation takes the view that sound forecasts of the future financial statements are the key input to a good valuation, and that most other aspects of the valuation process are mechanical and best left to computers to solve. To that end, the book includes, an Excel-based software application that guides the user through the forecasting and valuation processes while taking care of the minute details of valuation computations. By providing a unified interface for the valuation process, allows you to focus on the forecasting, not on the spreadsheet.