Warrants and Management Options - Excel Valuation Model
  • Warrants and Management Options - Excel Valuation Model
Originally published: 20/06/2016 10:05
Last version published: 02/02/2018 14:49
Publication number: ELQ-91646-2
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Warrants and Management Options - Excel Valuation Model

Warrants and Management Options Excel Model for valuing options that result in dilution of the underlying stock.

This Excel Valuation model is designed to value options, the exercise of which can create more shares and thus affect the stock price. This is the case with warrants and management options. It is also the case with convertible bonds. As a general rule, using an unadjusted option pricing model to value these options will overstate their value.

- Prof. Aswath Damodaran

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This Best Practice includes
1 Excel Model File

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Further information

The objective of this model is to get the following output:
- value of the call

It is useful in valuing warrants and management options


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  • Kim Christofte(last updated: 15/10/2019 11:25)
  • yalavarthy ramchand(last updated: 14/10/2019 11:04)
  • Ted Nuggent(last updated: 11/07/2019 16:14)
  • SS55(last updated: 22/01/2019 15:50)
  • Bin Han(last updated: 27/11/2018 01:31)
    option pricing
    I haven't use it much yet
  • Robert Yu(last updated: 19/11/2018 02:37)
  • svannat(last updated: 02/11/2018 21:29)
  • 芃 葛(last updated: 04/08/2018 07:40)
  • Christophe Besnard(last updated: 17/06/2017 19:19)
    Great tool
    Great tool!


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