挺实用的估值教材，讲的相当详细，相比完全的估值excel techniques教材, 更偏重value creation fundamentals。

Simon Woolley, "Sources of Value: A Practical Guide to the Art and Science of Valuation"  
Cambridge University Press | 2009 | ISBN: 0521519071 | 642 pages | PDF | 3,3 MB   

Sources of Value is a comprehensive guide to financial decision making suitable for beginners as well as experienced practitioners. It treats financial decision making as both an art and a science and proposes a comprehensive approach through which companies can maximise their value. Beginners will benefit from its initial financial foundation section which builds strong basic skills. Practitioners will enjoy the new insights which the eponymous Sources of Value technique offers - where values come from and why some companies can expect to create it while others cannot. The book also introduces several other techniques which, together, spell out how to combine strategy with valuation and an understanding of accounts to make a fundamental improvement in the quality of corporate financial decision taking. Sources of Value is written in a readable conversational style and will appeal to those already working in companies as well as those studying on a business course.

Section I The five financial building blocks 1
1 Building block 1: Economic value 3
2 Building block 2: Financial markets 28
3 Building block 3: Understanding accounts 62
4 Building block 4: Planning and control 99
5 Building block 5: Risk 142
Section II The three pillars of financial analysis 181
6 Overview 183
7 The first pillar: Modelling economic value 188
8 The second pillar: Sources of Value 258
9 The third pillar: What sets the share price? 341
10 Conclusion 387
Section III Three views of deeper and broader skills 393
11 First view: The cost of capital 395
12 Second view: Valuing flexibility 462
13 Third view: When value is not the objective 523
14 Overall conclusions

Appendices Individual work assignments: Suggested answers 569
I Building block 1: Economic value 571
II Building block 2: Financial markets 574
III Building block 3: Understanding accounts 582
IV Building block 4: Planning and control 587
V Building block 5: Risk 594
Glossary 603
Bibliography 613
Index 615