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David Turney, Finance Expert in Chicago, IL, United States
David Turney

Finance Expert in Chicago, IL, United States

Member since September 26, 2017
At Duff & Phelps, David has managed valuation engagements involving transactions greater than $1.5 billion for publicly traded companies in the industrial products and chemicals industries. He has extensive experience working with the senior management of Fortune 500 companies in various industries. Freelancing allows him to leverage his skills and experience to assist clients with complex and unique projects.
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Career Highlights

Education

Select Certifications

Case studies

Industry Expertise

  • Financial Modeling
  • Consumer Products
  • Industrials

Other Expertise

Employment

  • Vice President

    2014 - 2017
    Duff & Phelps
    • Provided valuation services, expertise, and advice to corporate clients, private equity funds, law firms, and other clients on matters involving valuation.
    • Managed and performed a variety of valuation projects for tax and financial reporting purposes, including business enterprise valuations, equity valuations, stock option valuations, and purchase price allocations.
    • Acted as a business development coordinator and contributed directly to the development of proposals for transactions within the industrial and consumer products industries. Notable proposals included a proposal for a $1.5 billion acquisition of a household appliance company, resulting in an engagement that earned more than $200,000 in fees.
    • Developed financial models and managed the engagement for a purchase price allocation of an industrial safety equipment manufacturer acquired for $2.5 billion.
    • Participated in the acquisition of a $1.6 billion chemical distributor, performing financial and business due diligence, developing and evaluating financial models and strategic plans, and creating detailed reports.
    Focus areas: Corporate Finance, Finance Strategy, Mergers & Acquisitions (M&A), Financial Reporting, Intellectual Property Valuation, Equity Valuation, Purchase Price Allocation, Financial Modeling, Cost of Capital, Valuation Multiples, Discounted Cash Flow (DCF), Valuation

  • Manager

    2012 - 2014
    Willamette Management Associates
    • Provided valuation services to law firms and corporations for tax reporting purposes.
    • Contributed to various business development efforts that resulted in the awarding of several engagements for the firm, including a recurring equity valuation for a logistics company with approximately $165 million in annual sales.
    • Presented the results of a business valuation analysis to the board of directors of a privately held corporation, which included describing various valuation approaches and cost of capital analyses.
    • Prepared a recurring equity valuation of a privately held healthcare distributor with approximately $1.5 billion in annual sales to assist management in determining the fair market value of equity for internal stock transactions.
    • Authored two articles on valuation that were featured in a quarterly firm publication, distributed to current and potential clients.
    Focus areas: Equity Valuation, Financial Modeling, Cost of Capital, Valuation Multiples, Discounted Cash Flow (DCF), Valuation

  • Vice President

    2006 - 2012
    Duff & Phelps
    • Performed valuation analyses on a wide range of public and private companies across various industries while taking on an increasing level of responsibility for engagements in both internal and client management.
    • Acted as the lead analyst for seven professional sports franchise valuation engagements, including franchises in the NBA, NHL, MLB, NFL, and the English Premier League.
    • Managed the engagement with a $9 billion packaged food company which involved developing financial models and assisting senior management with valuation analyses related to a divestiture of a business division.
    • Prepared and presented the results of a recurring quarterly business valuation analysis to the board of directors of a privately held paper packaging company with $2 billion in annual sales.
    • Designed detailed equity valuation models and created detailed narrative reports to support the analysis of a global legal entity restructuring of an international IT products and service provider for tax planning purposes.
    Focus areas: Corporate Finance, Finance Strategy, Mergers & Acquisitions (M&A), Financial Reporting, Intellectual Property Valuation, Equity Valuation, Purchase Price Allocation, Financial Modeling, Cost of Capital, Valuation Multiples, Discounted Cash Flow (DCF)

Other Experience

  • Estimating WACC for Private Company Valuation: A Tutorial (Publication)
    https://www.toptal.com/finance/valuation/private-company-valuation
    The discount rate is a critical input in any discounted cash flow valuation analysis. How does an analyst estimate a reasonable discount rate for a private company that has no publicly traded debt or equity? This article focuses on best practices for estimation of the WACC in the context of a private company valuation. The discussion begins with an overview of the WACC, background on the components of the WACC, methods to estimate the WACC components for private companies, and an example of how to apply this framework to estimate a privately-held building materials company.
  • Professional Sports Franchise Valuation (Publication)
    https://www.toptal.com/finance/mergers-and-acquisitions/sports-franchise-valuation
    Professional sports franchises continue to see record sale prices. But what drives a team like the Dallas Cowboys, who haven't won a Super Bowl in over 20 years, to top the list of the most valuable sports franchises in the United States? In this article, Toptal Finance Expert David Turney provides an overview of professional sports economics, unique valuation considerations, and a team valuation example.

Education

  • Bachelor's Degree in Finance
    1997 - 2001
    Illinois State University - Normal, IL, USA

Certifications

  • Chartered Financial Analyst (CFA)
    AUGUST 2003 - PRESENT
    CFA Institute

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