Manuel Cortés

Managing Director
15+ years of experience in valuations and methodologies
Expertise in modelling, process coordination, and SPA negotiation
Madrid
@alvarezmarsal
LinkedIn
Copied!
Manuel Cortés is a Managing Director with Alvarez & Marsal Valuation Services in Madrid. He brings over 15 years of experience in valuations for different purposes (M&A, transactions advisory, and accounting requirements) and methodologies (DCF, DDM, market multiples, NNAV, and APV).

Mr. Cortés’ primary areas of concentration are valuation, modelling, process coordination, SPA negotiation, and financial due diligence. He also has expertise in economic and financial analysis and business plans development and review. Mr. Cortés has worked with clients in various industries, including automotive, parts manufacturing, asset management, payments, energy, health, financial services, business process outsourcing, real estate, and software.

Prior to joining A&M, Mr. Cortés spent 10 years with PwC in the valuations department, where he most recently served as Director. At PwC, he worked in the financial sector (banking, technology, and asset management) serving prestigious financial entities and private equity funds. Over the past decade, Mr. Cortés has been involved in reorganizing the Spanish financial sector, leading valuation, due diligence, and business plan modelling in numerous M&A processes in the sector. Prior to that, he worked for five years at BBVA as an equity research analyst.

Mr. Cortés earned a bachelor’s degree in industrial engineering from ICAI and an MBA (high honors) from Instituto de Empresa. A Spanish national, he is fluent in Spanish and English.

Insights By This Professional

Alvarez & Marsal (A&M), firma global líder en servicios profesionales, ha presentado su informe Spanish Energy Deal Pulse FY2025, en el que analiza la evolución del mercado español de fusiones y adquisiciones en el sector energético durante 2025 y los primeros meses de 2026.
In the FY2025 Spanish Energy Deal Pulse, Alvarez & Marsal finds that transaction volumes fell sharply, particularly in solar, as price cannibalization, grid constraints and volatility became structural features of the market.
Descubra los aspectos clave que todo profesional financiero y contable debe dominar en el contexto de fusiones y adquisiciones. Desde el impacto en el balance hasta la preparación para una salida a bolsa, estas videos ofrecen insights valiosos para garantizar la transparencia y el éxito de las transacciones.
We are pleased to share the December 2025 edition of Valuation Insights in Spain, a detailed analysis of key market trends and developments shaping valuation practices in Spain and Europe. This report explores topics such as EV/EBITDA multiples in M&A transactions, industry performance comparisons across the S&P Europe 350 Index, and shifts in equity investment risks.
Latest insights The latest insights from Manuel Cortés's team
Press Releases
Alvarez & Marsal (A&M), firma global líder en servicios profesionales, ha presentado su informe Spanish Energy Deal Pulse FY2025, en el que analiza la evolución del mercado español de fusiones y adquisiciones en el sector energético durante 2025 y los primeros meses de 2026.