Knowing how to value companies is an investing superpower.


It lets you invest in great companies when the market is practically giving their shares away.

It lets you sell overpriced stocks to hungry buyers.

And it lets you invest with more confidence than ever before.


How To Value Companies is your complete guide to the theory and practice of valuation.

And after taking this course, you'll be able to:

  • Pick the right valuation tools for the stock you’re analysing
  • Use these to arrive at a range of valuations
  • Buy and sell shares at attractive prices


You'll also discover:

  • Why you should never take your stock screener’s data at face value
  • The “twisted” Discounted Cash Flow method that spits out cheap stocks
  • How you can find companies trading for a true price of less than $0
  • Why an expensive looking company might actually be dirt cheap
  • A quick check that highlights overpriced hospitality and retail stocks
  • Three investment situations I always avoid, even if they look cheap
  • Why using P/E ratios to invest can be incredibly risky

And much, much more.


Here's exactly what you get in the course:

How To Value Companies: Course Overview


  Homework 1
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  C1 Introduction to Valuation: Theory Part 1
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  C2 Introduction to Valuation: Theory Part 2
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  Homework 2
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  C3 Enterprise Value: An Essential Building Block
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  Homework 3
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  C4 Stockmarket Multiples
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  Homework 4
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  Module C5 - Other Valuation Techniques
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  Homework 5
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  C6 Refining Valuation Techniques
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  Homework 6
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The Most Effective Way To Learn Valuation



Valuation is a vital investing skill.

In fact, it's the one skill that separates investors from speculators.

By learning it with me, you'll benefit from:

  • A full and complete education. Learn the pros and cons of every valuation method that matters: Discounted Cash Flows, Sum Of The Parts, Stock Market Multiples, and many more. All taught using plenty of examples from my 30 years as a stock analyst and hedge fund partner.
  • Lifetime access to the course. Learn at your own pace and go back to the course materials whenever you need to consult them. This isn’t a one-off course. It’s an investing resource you can use for the rest of your life.
  • A bulletproof 30 day guarantee. If this course doesn’t match your expectations, I’ll refund your purchase with no questions asked. I offer this because I’m confident you’ll find this course useful and enjoyable. Not just today but for the rest of your investing career.



Set Yourself Up For Investing Success


Big firms like Legal and General and Schroders pay me over £10,000 a day to train their analysts. 

But I’m not going to charge you anything like that.

A one-time investment of £429 gets you lifetime access to this course. 

Which makes perfect sense. Especially when you consider how much you'll invest over your lifetime.

Simply click below to try the course with no risk on your behalf. You'll get instant access and can start honing your valuation skills right away.

What Investors Think Of this Course



A well structured course for those just getting into valuation and a good refresher for the experienced.

A.S. - Experienced analyst at an international long short equity hedge fund


“I felt I learnt just as much about valuation in the first two modules as I have across CFA Level I and II. With the real value-add coming from the plethora of real-life examples, anecdotes, critical analysis, and insights on applying the techniques”

Stuart, Analyst at a long only institution


“The course touches on all topics needed to build a fundamental analyst’s toolbox. Personally, it was a great recap of equity valuation principles learned during my post-graduate degree, and was enhanced by Steve’s practical knowledge of the world of accounting. 

Steve nicely ties in the theory by also sharing lessons and experiences from his asset management industry contacts, making the course highly practical to newer fundamental analysts but also to private investors who have a background in finance and accounting. 

I highly recommend the course to anyone looking to brush up on a wide range of valuation methods while more importantly taking their learnings to the next level by developing a practical eye to the age-old valuation dilemmas we encounter every day when investing.” 

David R. (Investment Analyst at NYC-based Long-Short Equity Hedge Fund).


and one comment on the related How to Pick Winning Stocks Course whcih is in a sepcial offer bundle with How to Value Companies...

There is more than enough content to study which I think is brilliant. I would also agree about this course being cheap – if I knew the quality of the content before paying then I’d be happy to pay more for it. There are many people who run courses that are the opposite…you’re one of the good ones out there!”

Jack, Essex, Private investor


Meet Your Tutor



Steve Clapham has 30 years of stock market experience as an equity analyst. He had a successful career as a highly rated sell-side analyst covering a number of sectors.

Steve then moved to become a partner and head of research at two multi-billion hedge funds, based in London. In 2018, Steve set up his training company, Behind the Balance Sheet, and hundreds of full-time professional investors have taken his Forensic Accounting Courses.

Some of the world's top institutions rely on Steve to help their top analysts improve their skills. And that expertise is now available to you!