Company Valuation

In price determination reports, the move from enterprise value to equity value is made through a bridge adjustment covering net debt and non-operating items. The bridge is not a standalone method; it reconciles different value categories.

In IPO price determination reports, separating company value from the offering price, realistic projections, a consistent WACC, peer selection, and clear risk disclosure are critical for the protection of retail investors.

The forward EV/EBITDA approach may be more meaningful than trailing multiples for fast-growing firms whose current EBITDA does not reflect sustainable capacity—a theoretical and empirical assessment.

In Türkiye, company valuation becomes more complex because of inflation, interest-rate and exchange-rate uncertainty, limited access to sector data, and an underdeveloped financial-planning culture. Key challenges and calculation frameworks.

Under TCC Art. 531, the exit share price must be calculated not on nominal capital, but on the market value of equity determined as of the date closest to the judgment date.

The “exit share price” is an exceptional remedy protecting minority shareholders against majority abuse. An outline of the just-cause dissolution action and exit-price process under TCC Art. 531.