This too, while daunting, was certainly doable. The only other items to value were a company’s intangible assets including things like goodwill, which is the unseen value of its brand, for instance, or capacity to come up with new patents, intellectual property, and so on. The tools in Justin’s kit included industry-standard ratios, benchmarks, things to enable realistic comparisons to other companies whose values were more-or-less known. This process leaned a great deal on accurate reporting by the subject company and a general air of transparency – transparency enforced in the form of regular financial statements by the authority of the respective country’s government, and audited regularly to ensure compliance. Even when these conditions were met, like in the West, scores of analysts tracking a single company might not foresee the same stock price.
And when none of these conditions are met, it’s necessary to start from scratch. Like how Justin found himself now, looking out the window at the bleak countryside surrounding Moscow.