A number you can defend, not just present
Whether it's for a sale, a shareholder buyout, a divorce settlement, or a funding round, a valuation only holds up if the method behind it does. We document every assumption.
The Fendaro Valuation Method
Normalise the earnings
We strip out owner discretionary spend, once-off items and related-party distortions to find the earnings a new owner would actually inherit.
Select the right approach
Income (DCF), market (comparable multiples), or asset-based — we choose and justify the method to fit the business, not the other way round.
Stress-test the assumptions
Discount rates, growth assumptions and multiples are benchmarked against South African market data and sensitivity-tested against downside scenarios.
Document and defend
The final report sets out every assumption in plain language, ready to withstand scrutiny from a buyer, a co-shareholder, an attorney, or SARS.
A valuation is only as strong as its paper trail
The usual way
- A multiple applied without explaining why it fits this business
- Owner's discretionary spend left inside the earnings base
- One number, no sensitivity range
- A report built to close the conversation
The Fendaro way
- Multiples benchmarked against comparable South African transactions, with the reasoning shown
- Earnings normalised line by line, with each adjustment documented
- A base case plus upside/downside range so you know what moves the figure
- A report built to survive negotiation, dispute, or SARS review
“Two other firms gave us numbers 40% apart with no explanation. Fendaro's report showed us exactly why theirs was right — and the buyer's attorneys accepted it without a fight.”
Founder, specialist engineering firm — Sale valuation, Cape Town
Need a valuation you can stand behind?
Tell us what the valuation is for — sale, succession, funding, or dispute — and we'll scope the right approach.