Update on company valuation 2025

Latest news from academia, practice, and case law on company valuation

Company valuations bring together theory and practice, economists and lawyers. This creates a dynamic environment in valuation theory, practice, and case law. The “Company Valuation Update” reports annually on current developments.

Introduction

Companies and the way they generate value are subject to constant change. This also applies to their valuation (How high is the value?), assessment (How fair is the value?) and distribution (Who owns the value?). Valuation theory, valuation practice, and case law reflect this change. The Company Valuation Update regularly presents current developments that are significant for professional practice.

Traditionally, the authors first focus on current case law: even if one thinks that everything has been said and written about the practitioner’s method, interesting judgments on interesting case scenarios continue to appear. These will be discussed, along with an exciting decision by the Federal Supreme Court on valuation using multipliers. From a valuation theory perspective, we show how the personal nature of an SME can be modeled and validated. Finally, the practical section discusses current developments in capital costs.