Methodology
Methodology that connects evidence, judgment, and conclusion
Methodology is not a list of formulas. It is a controlled way to move from the engagement question and available evidence to a conclusion that can be explained and reviewed.
Source and normalize the evidence
The analysis identifies the source date and ownership of material information. Historical results are reconciled to management reporting where possible. Forecasts are evaluated against operating drivers, financing needs, and actual performance rather than accepted as an unexplained input.
Apply appropriate valuation approaches
Income, market, and asset approaches are considered based on the assignment and evidence. Method selection and weighting reflect relevance and reliability. Calculations use consistent dates, capital definitions, and units so apparent differences are not artifacts of mismatched inputs.
Resolve the capital structure
For complex securities, company-level equity value must be translated into the value of the subject interest. The selected allocation framework should reflect contractual rights and realistic liquidity outcomes. Marketability, control, and other interest-level attributes are addressed explicitly where relevant.
Use review controls
Material inputs, formulas, scenario weights, and report figures should reconcile across the model and deliverable. The review record separates presentation overrides from underlying calculations and preserves the data supporting the issued conclusion.
Bring the question into focus.
Share the purpose, date, and company context to begin a practical scope discussion.