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(Revised from original 1994 version)
Note on Valuing Equity Cash Flows
A technical note for advanced students on the topic of valuing highly-levered equity. Introduces the "equity cash flow" valuation methodology, shows how to use it, discusses the sources and signs of its built-in biases, and provides some guidance about when to use it.
Keywords: Cash Flow;
Luehrman, Timothy A. "Note on Valuing Equity Cash Flows." Harvard Business School Background Note 295-085, September 2012. (Revised from original December 1994 version.)