The Valuation of a business by a third party expert who is is an integral part of sound business decision-making when preparing to sell a business or planning for succession.

RFA bases its valuations on a combination of the following approaches:

• Discounted cash flow
• Comparative P/E multiples
• Comparison of similar transactions
• Value of assets (book, liquidation, replacement)
• Dividend capitalization

To arrive at an independent determination of the value of a business, RFA considers (i) the nature and history of the business, (ii) economic and industry outlook, (iii) earnings history and forecast, (iv) dividend paying capacity,tanagible assets(v) goodwill and intangible assets, (vii) prior stock sales, and (viii) stock prices of comparative companies.

In addition to valuations related to mergers and acquisitions, RFA provides valuation studies for a variety of purposes including Employee Stock Ownership Plans, minority interest acquisitions, recapitalization and reorganization of buy-sell agreements, stock repurchases and security transactions.  The valuation study is presented in a comprehensive report that includes a description of the company, financial analysis, economic and industry overview, description of the methodologies used and the conclusions reached.