Business valuation and the Covid-19 crisis

Article accompanying Letter No. 1 of the National Company of Legal Experts in Finance, October 2020.

Since March 2020, there have been many publications on the impact of the Covid-19 crisis on the value of companies. These publications often focus on the choice of methods, the determination of the parameters to be taken into consideration when applying them, or on the evolution of the valuation and transaction market. The purpose of this short article is to take stock of these subjects by showing that the Covid crisis reminds us that before determining what a company is worth, we must understand what is valuable in it.

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