Earnings remain strong, but investors are becoming increasingly selective. As valuation multiples moderate and interest rates stay higher for longer, execution, profitability, and business quality are driving value creation more than multiple expansion.
For investment companies holding pre-IPO shares, contractual sale restrictions may once again influence fair value estimates and related valuation discounts.
Final guidance could affect NAV, performance reporting, fees, and 2026 financials.
Equity markets in 2026 remain active, but outcomes are increasingly shaped by transaction scale, sector selection, and evolving capital market conditions.
Final guidance could affect NAV, performance reporting, fees, and 2026 financials.
Mr. Roese is part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, CLO debt securities, CLO equity securities, and…
Mr. Pesterev specializes in valuing complex securities including options, warrants, preferred stocks, convertible bonds, debt, contingent considerations, and commodity instruments for financial reporting and tax…
Mr. Li specializes in valuing complex securities including options, warrants, fixed income and credit derivatives, structured products and other derivatives. Prior to joining VRC, Mr.…
In his role as Senior Advisor to VRC, Mr. Grant advises VRC and clients on the valuations of financial instruments, derivatives, and complex securities related…
The valuation challenge with a hybrid security is to consider both the equity and debt components in a combined framework – this challenge is not without its tradeoffs.
Ms. Falcon has extensive experience in business valuation for financial and tax purposes, project management and corporate finance. Prior to joining Valuation Research, Ms. Falcon…
Michael Park is a part of the portfolio valuation group specializing in the valuation of illiquid securities, including privately-held equity securities, fixed income securities, various…
Mr. MacLean is a part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, CLO equity securities, and business enterprises…
