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CHAPTER 1 OPENING THE BOOK

Stephen Penman and Peter F. Pope

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Financial Statement Analysis for Value Investing

This chapter is in the book Financial Statement Analysis for Value Investing

© 2025 Columbia University Press

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© 2025 Columbia University Press

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Chapters in this book

Frontmatter i
CONTENTS v
PREFACE vii
CHAPTER 1 OPENING THE BOOK 1
CHAPTER 2 CHEAP VALUE INVESTING 26
CHAPTER 3 KEEPING A BOOK FOR VALUE INVESTING 47
CHAPTER 4 ACCOUNTING FOR THE MARKET PRICE 73
CHAPTER 5 ACCOUNTING FOR LEVERAGE 98
CHAPTER 6 ACCOUNTING FOR PROFITABILITY 134
CHAPTER 7 ACCOUNTING FOR GROWTH 160
CHAPTER 8 ACCOUNTING FOR RISK TO VALUE 201
CHAPTER 9 KEEPING THE BOOK 248
CHAPTER 10 KEEPING THE BOOK 289
CHAPTER 11 INVESTING BY THE BOOK 331
CHAPTER 12 INVESTING BY THE BOOK 364
CHAPTER 13 KEEPING A BOOK ON LIQUIDITY AND THE ANALYSIS OF CREDIT RISK 382
CHAPTER 14 CLOSING THE BOOK 398
INDEX 409

https://doi.org/10.7312/penm21568-002

Chapters in this book

Frontmatter i
CONTENTS v
PREFACE vii
CHAPTER 1 OPENING THE BOOK 1
CHAPTER 2 CHEAP VALUE INVESTING 26
CHAPTER 3 KEEPING A BOOK FOR VALUE INVESTING 47
CHAPTER 4 ACCOUNTING FOR THE MARKET PRICE 73
CHAPTER 5 ACCOUNTING FOR LEVERAGE 98
CHAPTER 6 ACCOUNTING FOR PROFITABILITY 134
CHAPTER 7 ACCOUNTING FOR GROWTH 160
CHAPTER 8 ACCOUNTING FOR RISK TO VALUE 201
CHAPTER 9 KEEPING THE BOOK 248
CHAPTER 10 KEEPING THE BOOK 289
CHAPTER 11 INVESTING BY THE BOOK 331
CHAPTER 12 INVESTING BY THE BOOK 364
CHAPTER 13 KEEPING A BOOK ON LIQUIDITY AND THE ANALYSIS OF CREDIT RISK 382
CHAPTER 14 CLOSING THE BOOK 398
INDEX 409

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