Aswath Damodaran, a renowned professor of finance at NYU’s Stern School of Business, provides extensive and freely accessible PowerPoint presentations on corporate finance. These PPTs are widely used by students and practitioners alike as a comprehensive resource. They cover a vast range of topics, from basic valuation principles to advanced strategies in capital structure and dividend policy.

One of the key strengths of Damodaran’s presentations is their accessibility. He breaks down complex financial concepts into easily digestible segments, using clear language and illustrative examples. He emphasizes a first-principles approach, encouraging critical thinking rather than rote memorization of formulas. This approach is particularly evident in his valuation PPTs, where he stresses the importance of understanding the underlying drivers of value, rather than simply plugging numbers into models.

Valuation is a central theme throughout Damodaran’s work. His presentations delve into various valuation techniques, including discounted cash flow (DCF), relative valuation (multiples), and contingent claim valuation (options). He provides detailed guidance on estimating key inputs for DCF models, such as cash flows, discount rates (cost of equity and weighted average cost of capital – WACC), and terminal value. He meticulously explains how to account for risk and uncertainty in valuation, moving beyond simple point estimates and exploring scenario analysis and simulation.

Beyond valuation, the PPTs cover a broad array of corporate finance topics. Presentations on capital budgeting delve into investment decision rules like NPV and IRR, considering project risks, and incorporating real options. Others focus on capital structure, exploring the trade-offs between debt and equity financing, and analyzing the impact of leverage on firm value. Dividend policy is also examined, analyzing different payout strategies and their effect on shareholders. Furthermore, the presentations cover mergers and acquisitions, bankruptcy, restructuring and risk management, providing a well-rounded understanding of corporate financial decisions.

Damodaran’s PPTs are frequently updated to reflect current market conditions and evolving academic research. They are practical and adaptable, often incorporating real-world case studies and examples to illustrate key concepts. He often uses examples from a diverse set of companies across global markets. His presentations are not just theoretical; they are geared towards helping users apply financial principles to real-world situations.

In summary, Aswath Damodaran’s PowerPoint presentations on corporate finance are a valuable resource for anyone seeking a comprehensive and accessible understanding of the subject. They cover a wide range of topics, emphasize a first-principles approach, and are regularly updated to reflect current market conditions. Their practicality and depth make them an invaluable tool for students and professionals alike.