Alpha Comps Excess Earnings Method 
Value Scope
JULY 21, 2020
This work can be used to reconcile and support an adjustment to the CAPM, then the WACC, via Alpha and Beta. There are also methods to use Beta to assess a private company, if the Guideline Public Companies selected for the analysis, the “comps,” are chose properly. Using Alpha, however, it could be done.
Value Scope
SEPTEMBER 24, 2020
As companies continue to legitimately integrate ESG into business strategy, the ability to achieve “alpha,” which is an excess return or performance above a codified index or peer group, might become more difficult to do. For example, in a recent valuation we completed, the mean unlevered Beta of a group of 10 comps was 0.58.
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