Stern Brothers’ valuation practice has always been the foundation for our comprehensive array of services. Since 1985, our staff has performed over 6,000 valuation assignments for a variety of purposes including valuations for estate and tax purposes, employee stock ownership plans (leveraged and non-leveraged), expert witness, marital dissolutions and fairness opinions for mergers and acquisitions. The securities and assets valued include common stock (minority and control blocks), adjustable rate convertible preferred, straight preferred stock, serial bonds, term bonds, debentures, notes, certificates of deposit, contract values, intangibles, derivatives, mortgage servicing, mortgage-backed securities, etc.
Experienced
The professionals at Stern Brothers have the depth of experience necessary to properly evaluate securities from all perspectives. Sophisticated valuation techniques are applied to each assignment using the firm’s proprietary valuation models developed through extensive experience. The securities valued are analyzed, as required, on a discounted future returns basis (Dividend Discount Model and/or Discounted Cash Flow Model), guideline company basis, guideline transaction basis, leveraged basis, liquidation basis, and industry specific valuation techniques. Each valuation study encompasses a comprehensive investigation of the company and its industry. Factors considered, among others, include; (i) the nature and history of the enterprise; (ii) the economic and industry outlook; (iii) the book value of the stock; (iv) earnings capacity; (v) dividend paying capacity; (vi) goodwill and intangible assets; (vii) recent selling price for the stock; (viii) stock prices of comparative publicly traded companies.
Skilled
Our clients recognize the value of having their valuations performed and reviewed by individuals who have achieved the professional designations of Chartered Financial Analyst, Accredited Senior Appraiser, Master Certified Business Appraiser, Certified Public Accountant/Accredited in Business Valuation and Certified in Entity and Intangible Valuations. As appraisers, Stern Brothers’ adheres to the Uniform Standards of Professional Appraisal Practice and the standards of practice as prescribed by the CFA Institute and the AICPA.
