This chapter provides a practical step-by-step view on private enterprise value in an emerging market context, presenting a case study of a hypothetical Brazilian company and adds real examples of financial modelling techniques which both valuation practitioners and corporate finance students can benefit from. The chapter utilizes Discounted Cash Flow as the main methodology to estimate the intrinsic value of the firm and integrates macroeconomic factors such as inflation, interest rates, and country risk, which play a major role in valuation in emerging market countries. Market multiples and sensitivity analyses are used to corroborate the outcome and assess the risks associated with valuation. This should provide a framework for readers, whereby they can evaluate and determine the fair value of a private enterprise operating within emerging markets. The contribution of this piece is in offering a no-nonsense, common-sense approach to asset valuation for companies in these interesting and important markets.