Business
Valuation
Masterclass

  • Masterclass
  • Sep 23, 2025 - Dec 2, 2025

At the Prague Finance Institute, we offer anyone with an interest in corporate finance and valuation who already has some knowledge of the field a unique opportunity to expand their education and knowledge, learn about it from leading experts and on top of that to meet an interesting network. This masterclass is conducted annually during the winter term, comprising 11 lectures in English, and is led by experienced professionals who draw upon real-world company cases to provide comprehensive insights and practical learning experiences.

Business
Valuation
Masterclass

Business Valuation Masterclass 2025 ...

11 lectures

11 lectures

90-Minute lessons on weekly basis every Tuesday 

Max. 30 participants

Max. 30 participants

Price 14 900 CZK (6 900 CZK for students)

Price 14 900 CZK (6 900 CZK for students)

Who
You Are 1/3

  • University student, young professional or an individual with an interest in corporate finance and valuation
  • You have basic understanding of corporate finance, accounting and microeconomics (not required)
  • You are eager to put in an effort to a 11 weeks educational adventure with a rticipation in a semester project
  • Open to meet talented peers and inspiring lecturers

What
you get 2/3

  • 11 weekly lectures with an opening and closing ceremony connected with a networking sessions in the heart of Prague (CERGE-EI, The Schebek Palace, Politických vězňů 7, 110 00 Praha 1)
  • Course covering all aspects of business valuation and investment decision making in a class of only 30 selected students
  • A certificate of completion (requirements: 9/11 attendance, team presentation of the semestral project results)

What It
Takes 3/3

  • Fill in the registration form and send us your CV
  • Standard course fee is 14 900 CZK, reduced course fee for students under 26 is 6 900 CZK. Course fee will be used to cover organizational costs, educational materials and refreshments
  • The fee is payable once you are approved as a participant

Syllabus of
Business
Valuation
Masterclass
Fall 2025

  • Lecture one
  • Sep 23, 2025

Course kick-off & Networking evening

  • Lecture two
  • Sep 30, 2025

Introduction to Valuation

Lecturer: Kirill Slobolinsky (PPF)

Intrinsic Value Foundations, Discounted cash flow model (DCF) basic principles, Basics/Overview of relative valuation and price multiples.

  • Lecture three
  • Oct 7, 2025

Fundamentals of Financial Statements Analysis & Capital Allocation

Lecturer: Michal Stupavský

Overview of consolidated financial statements and their major items, Overview of financial statement analysis and major financial ratios, Capital allocation decisions.

  • Lecture four
  • Oct 14, 2025

Estimating Value Drivers

Lecturer:  Miroslav Nosál (Wood & Company)

Revenues, EBITDA margin, EBITDA, tax rate and taxes, investments into NWC, CAPEX, Estimating Cash Flows, Estimating Growth.

  • Lecture five
  • Oct 21, 2025

Forecasting Financial Statements

Lecturer: Přemysl Krch (Independent appraiser)

Business Plan Fundamentals

  • Lecture six
  • Oct 28, 2025

Risk Free Rate, The Equity Risk Premium and Betas

Lecturer: Jan Dvořák (KPMG)

Relative Risk Measures, Costs of Debt & Capital (cost of equity, WACC).

  • Lecture seven
  • Nov 4, 2025

Terminal Value

Lecturer: Josef Sklenář (KPMG)

GGM vs exit multiple, Loose Ends in Valuation, Value Enhancement (sensitivity analysis).

  • Lecture eight
  • Nov 11, 2025

Relative Valuation

Lecturer: Jonáš Kotyza (PFI chairman, BHM)

PE Ratios, Other Earnings Multiples, Book Value Multiples, Revenue Multiples.

  • Lecture nine
  • Nov 18, 2025

Leveraged Buy Out (LBO) Model

Lecturer: Albert Jelínek (EPH)

  • Lecture ten
  • Nov 25, 2025

Private Company Valuation

Lecturer: Matěj Kumštýř (RSJ)

Czech Environment Challenges & Specifics, IFRS vs. CAS.

  • Lecture eleven
  • Dec 2, 2025

Masterclass Closing Ceremony

Lecturers: JURY (Miroslav Nosál, Michal Stupavský, Jan Dvořák)

Team presentations of the semestral project results + Feedback + Certificates; Networking evening.

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