Valuation advisory

We help our clients understand what their business, shares or assets are worth, and what is really driving that value.

We also provide support and advice on how to enhance deal value and help our clients determine strategic options and priorities to maximise value.

We offer independent valuation and strategy advice that looks at both the commercial and technical aspects. This can provide new insights or fulfil an important corporate governance role.

Our Services

Need to know and understand the value impact of your strategy or decision?

Whatever the size of your business, we can provide robust valuation advice.

Valuations are subjective, and can be controversial, so it is helpful to have a robust independent opinion that will withstand scrutiny. This comes from experience and specialist knowledge that our dedicated valuation practitioners can draw on. We will share our deep expertise for your benefit.

Whether you need a valuation for a company or asset transaction, shareholder transactions, financial reporting, dispute resolution, tax purposes or something else, we will provide you with analysis and an opinion fit for that purpose.

Dispute valuations

Companies involved with contract disputes need advice and assistance with damages analysis and valuation. With significant experience in dispute matters and our extensive resources, we provide companies with credible, clearly conveyed analysis supported by the appropriate research and experience.

Need to meet financial reporting requirements for intangible assets, impairment testing or to report performance to your investors?

Purchase price allocations

We undertake fair value assessments in order to meet the requirements of relevant financial reporting standards (and withstand the scrutiny of your auditors).

Impairment testing

We provide support to clients in preparing/reviewing their ongoing goodwill impairment tests following a transaction.

Revaluation of investments

Management needs to communicate the performance of assets and recent investments to investors and stakeholders. We provide independent assessments of the current fair value of investments. Our independence provides comfort to investors. Our robust analysis and insights into how value may have changed, helps management going forward.

Need help determining your strategic options and priorities?

We help our clients determine the right strategic priorities to grow profitability and maximise value. We offer support and practical solutions to achieve those objectives.

We provide:

  • independent, practical and objective advice to ensure your planning processes deliver the expected outcomes

  • well-drafted business planning documentation and sophisticated financial models that can become useful management tools for the future

  • robust technical know-how, developed through research and deep industry knowledge

  • guidance and support to help you navigate potentially difficult negotiations with shareholders, creditors, management and other stakeholders that sometimes have conflicting interests

  • merger strategy assistance to help you fully understand the implications of any proposed merger

  • an evaluation the potential benefits and costs of a merger or transaction

  • understanding how the combined organisations will operate

  • strategic rationale

  • relative valuation of merger partners

  • assessment of transaction risks and mitigants

  • assistance determining the optimal transaction structure

  • help with process issues such as managing vested interests, staff sensitivity around transactions and confidential information.

Do you have enough information at your fingertips to make a truly informed investment or strategic decision?

Forecast analysis and value driver identification

We help our clients go deeper than traditional valuation analysis to identify the underlying value drivers that support a set of business projections. At a more granular level, clients are better able to identify opportunities to maximise returns and minimise risks. Properly applied, cash flow forecasts give consideration to all reasonably foreseeable outcomes. Thinking through the strategy and working with our diligence colleagues, we help clients frame potential outcomes. This improves the accuracy and usefulness of valuations.

Understanding the assumptions under which a deal makes sense helps inform Board decisions and also helps clarify the key things that should be monitored post-deal.

Cost of capital

Efficient use of capital is key to creating value. Understanding the cost of that capital will better inform your decisions.

This requires an understanding of the rate of return required by the providers of both debt and equity capital, having regard to the risk factors inherent in the business. Businesses or projects that earn returns greater than the weighted average cost of capital (WACC) will add value for investors.

We can provide you with an up-to-date assessment of WACC to reflect market conditions and the current risk profile of your business, project or group to ensure you are creating value through your investment decisions.


Need to develop a financial model?

Financial models provide insightful information, allowing you to explore the financial impact of strategic decisions and support your business plan or investment decision.

Working with you to understand and analyse your key commercial and financial drivers, we can design and build a model to show the impact of different financial or commercial assumptions on profitability, cash flow, balance sheet, tax and financing structure.

Financial models can be highly complex and require substantial time and expertise to develop. You’ll receive a robust and reliable financial model that is tailored to your needs. We have extensive experience in creating financial models to assess acquisitions, capital raisings or restructurings, working capital management and project viability.

Are you confident your current financial model is reliable?

We offer extensive model testing services so you can be confident the model you have built is reliable. This involves detailed testing of the mathematical accuracy of the model and providing commentary on the reasonableness of key modelling assumptions.

Want to upskill your team’s financial modelling capability?

We offer a range of training courses covering introductory skills to advanced modelling techniques. These are based on the same courses that we train our own staff on. Each course can be tailored for your team’s current skill levels and cover specific topics to achieve your training goals.

Want to understand the impact of your employee share scheme or LTI?

Employee share schemes and long term incentive schemes are being increasingly used to motivate, retain senior management and align their interests with those of shareholders. These are often complex and bespoke arrangements based on shareholder and board objectives.   

We can help:

  • Understand the value of shares or options transferred to employees

  • Establish relevant and objective performance hurdles and structures which align with shareholder requirements

  • Provide independent assessment of whether performance hurdles have been achieved 

  • Build models and systems to track ongoing performance against the performance hurdles.  This is particularly relevant where hurdles are complex or not directly unobservable (e.g. relative TSR)

Our Valuation Advisory specialists


Gareth Galloway

Deals Leader, Auckland, PwC New Zealand

+64 21 983 519


Regan Hoult

Partner, Corporate Finance Leader, Auckland, PwC New Zealand

+64 21 243 2378


Brendon Jones

Executive Director, Auckland, PwC New Zealand

+64 21 488 893


Rajan Chopara

Executive Director, Auckland, PwC New Zealand

+64 27 489 9079


Swathi Parikh

Partner, Auckland, PwC New Zealand

+64 20 439 9990



Craig Armitage

Managing Partner, Te Waipounamu and China Business Group Lead, Canterbury, PwC New Zealand

+64 21 616 232


Wayne Munn

Partner, Canterbury, PwC New Zealand

+64 21 918 289



Nick McVerry

Partner, Waikato, PwC New Zealand

+64 27 496 8631



Richard Longman

Wellington Managing Partner, Wellington, PwC New Zealand

+64 21 777 780


Simon Healy

Partner, Deals - Corporate Finance & Infrastructure, Wellington, PwC New Zealand

+64 21 242 6075


Follow us