Valuation
We understand that business valuation is as much an art as it is a science. Because of the complex issues involved and the professional judgment required, choosing the right appraiser is everything. Our credentialed professionals combine the knowledge and analytical skills necessary for the quantitative side with the experience required for the qualitative side to provide independent opinions our clients can trust.
Whitley Penn is experienced and capable in the following contexts:
- Marital dissolutions
- Commercial Litigation
- Fair value measurements for reporting, including purchase price allocations, impairment testing along with derivative and intangible asset valuations
- Tax reporting, including estate and gift tax valuation, S-corp elections, 409A equity valuation, and stock-based compensation
- Bankruptcy, insolvency, and restructuring
- Employee stock ownership plans (ESOPs)
- Mergers, acquisitions, and reorganizations
- Buy/sell agreements
- Ownership transactions
Our trained and experienced professionals hold certifications issued by national appraisal societies including: the American Society of Appraisers (ASA), the American Institute of Certified Public Accountants (AICPA), and the National Association of Certified Valuation Analysts (NACVA). Our experience and credentials enable us to perform the diverse range of services listed below.
Our Valuation Services
Business Valuation Analysis
We provide in-depth analysis tailored to the specific circumstances of the engagement. Our analysis is based on extensive training and decades of business valuation experience.
We have performed hundreds of business appraisals across a broad range of industries, including manufacturing, oil and gas, construction, retail, healthcare, and restaurants, among others.
Fair Value Measurements
The recent trend toward the increased use of fair value accounting has significantly altered the way financial information is reported in financial statements. Measuring fair value for financial reporting purposes requires experience and judgment.
Whitley Penn is equipped with the knowledge and experience required to perform fair value measurements for a variety of purposes, including purchase price allocations in business combinations, impairment testing, intangible asset valuation, stock-based compensation, and valuation of derivatives and complex financial instruments.
Report Preparation
We carefully prepare reports to meet the specific needs of the client in accordance with the purpose of the appraisal. We take pride in presenting our analysis in professional, well-written reports that are customized and appropriate for their intended use.
Our reports are designed to comply with various industry standards and stand up to scrutiny by audit teams, the IRS, and in court. We offer a variety of reporting formats to suit the particular needs of the engagement.
Expert Testimony
When hired within a litigation setting, we provide expert testimony to explain and defend our opinions.
When testifying, our primary goal is to explain complex business valuation theories and concepts to the judge or jury in a clear and concise manner that allows them to understand the substantive analysis performed and the conclusions reached.
Our experts have testified in hundreds of depositions and trials, and they are highly regarded by attorneys throughout the state of Texas.
Review of Other Valuations
Because of the inexact nature of business valuation, it is often necessary to obtain a second opinion. We provide “big picture” reviews for reasonableness as well as detailed critiques of the assumptions, inputs, and methods used.
I Need a Valuation,
But Do I Need a ‘Valuation’?
By Robert Allen, CFA, ABV
Meet the Valuation Leader
Robert Allen
Valuation Partner
Robert J. Allen, CFA, ABV is a Partner in Whitley Penn’s Valuation and Advisory Services practice. He has extensive experience in financial advisory, specializing in business valuation, intangible asset valuation, and value enhancement consulting. Robert has worked with closely held businesses and partnerships across a wide range of industries for purposes including tax and financial reporting, regulatory compliance, litigation support, succession planning, and transactional advisory.
He leads engagements involving purchase price allocations (ASC 805), goodwill impairment testing (ASC 350), stock-based compensation/options (ASC 718/IRC 409a), and intangible asset valuation. His experience also includes estate and gift tax valuations, buy/sell agreement valuations, fairness and solvency opinions, healthcare compensation studies, and transfer pricing studies. Robert regularly consults with business owners on strategic planning, focusing on identifying value drivers, business risks, critical success factors, and key performance indicators, as well as developing budgets, forecasts, and benchmarking strategies.
Before joining Whitley Penn, Robert provided valuation and advisory services for a variety of purposes, including litigation and collaborative law matters, and worked closely with clients to enhance business value through strategic initiatives.
