Financial Statement Analysis and Valuation

Lecture Notes

Author

Harm H. Schuett

Published

January 1, 2026

Preface

These are the lecture notes to the course Financial Statement Analysis and Valuation taught first and at the Tilburg School of Economics and Management, now at the WHU – Otto Beishheim School of Management.

Author: Harm H. Schuett

Copyright 2026 Harm H. Schuett. Code to most figures and other parts can be found on the Author’s homepage.

The views in this manuscript are the views of the author. All rights reserved. I am grateful to Stephan Hollander for many invaluable discussions during the process of writing this manuscript.

First release, March 2022, current version February 2026