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Valuation Approaches and Metrics focuses on the theory and practice of valuation of companies and stocks, providing an invaluable overview of the topic from both a practical and scholarly perspective. It reviews the finance literature on valuation and presents three approaches to valuation: Discounted cash flow valuation relating the value of an asset to the present value of expected future cash flows on that asset. Liquidation and accounting valuation built around valuing the existing assets of a firm using accounting estimates of value or ""book value"". Relative valuation estimating the value of an asset by looking at the pricing of ""comparable"" assets relative to a common variable like earnings, cash flows, book value or sales. This book should be required reading for both finance practitioners and researchers.