Valuation of common stocks using the dividend valuation approach and excel

The valuation of common stocks using the dividend valuation method is useful for stocks in so called no-growth or constant-growth situations. In the case of constant-growth the stock price should be equal to the discounted present value of all future dividends, but in the case of non-constant growth the case becomes more complicated. In both cases the use of Excel is a straightforward method for solving such calculations efficiently.