Cost of Goods Sold (or COGS) is the total cost of sales for the entire output of a company. It is the sum of the cost of each good sold. This is another crucially important financial figure for analysing a company. COGS includes materials, labour, distribution and generally everything incorporated with every individual unit of output. For projection purposes, COGS is either taken as a percentage of revenue or as an actual calculation from unit sales and unit costs. In future projections, Prepaid Expenses, Accounts Payable, Inventory and Accrued Expenses can all be assumed to be a percentage of COGS.
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Module 1: Introduction
Module 2: Valuation: The Big Picture
Module 3: Enterprise Value & Equity Value Practice
Module 4: Trading Comparables Introduction
Module 5: Trading Comps: The Setup
Module 6: Trading Comps: Spreading Nike (NKE)
Module 7: Trading Comps: Spreading Adidas (ADS.DE)
Module 8: Trading Comps: Spreading Lululemon (LULU)
Module 9: Trading Comps: Spreading Under Armour (UA)
Module 10: Trading Comps: Benchmarking and Outputs
Module 11: Precedent Transactions: Introduction
Module 12: Precedents: The Setup
Module 13: Spreading Tiffany & LVMH
Module 14: Spreading FitBit & Google
Module 15: Spreading Reebok & Adidas
Module 16: Spreading Jimmy Choo & Michael Kors
Module 17: Spreading Dickies & VF
Module 18: Valuation Wrap-Up
Module 19: Bonus: Non-GAAP Practice
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