About Us


Our Company

Business Valuations, Inc. is the successor to David O. McCoy & Associates which was formed in 1981. That proprietorship was incorporated as Business Valuations, Inc. in 1990. We perform valuations primarily of closely held companies and their securities for many reasons and situations (see our
Frequently Asked Questions for details). About half of our business is valuations for Employee Stock Ownership Plans and for Stock Option Plans.

We serve clients both domestic and foreign. Most of our work comes by word of mouth through existing clients or at the recommendation of attorneys who know our work and have confidence in our capabilities.

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Our People

David O. McCoy

David O. McCoy is the founder (in 1981) and President of Business Valuations, Inc. Mr. McCoy is a Chartered Financial Analyst (CFA) and a Certified Business Appraiser (CBA). He holds a Masters of Business Administration, finance major, and a Bachelor of Science, with a major in economics, from the University of Cincinnati. Mr. McCoy is a member of the Chartered Financial Analysts Institute and the Institute of Business Appraisers. Mr. McCoy is in full compliance with their Continuing Professional Education (CPE) requirements. He is also an Associate member of The Ohio Employee Ownership Center (OEOC) and the National Center of Employee Ownership. He has been a panelist or moderator at the annual conference of the OEOC and a presenter on valuation for ESOP trustees under the auspices of the OEOC. Mr. McCoy has provided litigation support and testimony as an expert witness in various court and regulatory commission proceedings including the following:

Mr. McCoy was the Treasurer of the White Oak Christian Church from 1977 to 1998. He is a member of the Cincinnati Society of Financial Analysts and the Cincinnati Chapter Rotary Club. He has taught stock market and investment classes at the University of Cincinnati. He was a credit analyst and reporting supervisor with Dun & Bradstreet from 1960-67. He was a securities analyst and valuator of closely held companies with Gradison & Company, a stock brokerage firm, from 1968-81.

Mr. McCoy has a national reputation as an appraiser of marketing research firms and their securities. He performs from four to six such appraisals each year. He has been engaged by various marketing research firms since 1973 for ESOP, M&A, stock option, and other purposes.

Nancy C. Smith

Nancy C. Smith is an independent valuation analyst occasionally working under contract for Business Valuations, Inc. She holds a Bachelor of Science in Marketing from the University of Cincinnati. She has over twenty years experience in valuing closely held companies and their securities. She is a member of the American Society of Appraisers and holds the Accredited Senior Appraiser (ASA) designation in Business Valuation. Mrs. Smith has provided expert witness testimony in the State of Ohio Tax Court.

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Our Memberships

The firm or its employees are members of the following trade and professional organizations:

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