"The True Value of a Company"

Valuator Consulting is a Croatia-based company specialized in valuing private & public companies. Valuation of a business is important in transactions of purchase, sale, or merger (M&A) of a company when it is necessary to engage a third party, and independent party who will objectively assess the true value of the company in question. Valuator Consulting with it's knowledge, experience, and application of various financial valuation methods leads to the real - intrinsic value of the company.


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Business purchase

As a buyer, you do not want to overpay for the target company/business, and before the transaction, you may be interested in how you can increase the value of the company you are buying once the company is 100% owned by you ("value of control").

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Business sale

As a seller, you want to achieve the highest possible transaction price, but to realize / finalise the transaction, you need to know the true / real / intrinsic value of the company / business you are selling.

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M&A transactions

Whether it is buying, selling, or merging private companies, it is important to find out the true value of the company. Each company is specific in its own way and in most cases it is not enough to compare it with the average of the sector / industry. For this reason, Valuator Consulting uses the discounted cash flow (DCF) method as the basic valuation method to find out the true - intrinsic value of the company.

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Valuation methods used

Discounted cash flow (DCF)

With this method, we come to what is called the “intrinsic value” of the company. This method projects the company's cash flows because the real - intrinsic value of the company is the present value of future cash flows. Future cash flows are discounted to present value at a rate that represents the investor's required return. To project cash flow it is necessary to make projections of P&L and balance sheet.

Trading multiples

This method requires the relative values of companies listed on stock exchanges, that are from the same industry as the observed company. Relative values refer to multipliers such as EV/Sales, EV/EBITDA, PB ratio, PE ratio, price-earnings per share ratio, etc. The average or median values of these multipliers calculated for similar listed companies are then multiplied by the company's valuation indicators.

Transaction multiples

This method also looks for the relative values of companies, i.e. looks at the multipliers by which M&A transactions were recently executed in the industry of the observed company. Similar to trade multipliers, it is a method that looks for the relative values of companies. In particular, we are interested in which revenue multipliers, EBITDA, etc. were used for takeover transactions in the industry of the observed company.


A simple 3 step process:

  1. Initial meeting – we get to know your goals
  2. Data collection and analysis
  3. Final reporting

At the initial meeting, you get to know our team, which collects the first data needed for the assessment. The process of collecting all the data needed for the assessment follows. The duration of this part depends on the complexity of the project. The final phase is the preparation of the valuation report and its presentation. With the final report, you learn the true (intrinsic) value of the company, and how to increase its value.

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Intrinsic - true value - is the value attached to an asset based on its fundamentals: cash flows, expected growth, and risk.