The authors of this article make an attempt to study the applicability of correlation and regression analysis for company valuation based on the main indicators of a company’s activity (e. g. profit, sales volume, asset value etc.). They defined the form and degree of the dependency of a company’s market value on these factors. The parameters of regression equations for telecommunication companies were calculated based on the collected statistical data. The constructed models were checked for adequacy, their significance was evaluated, and the results obtained by modelling were interpreted. The theoretical and practical relevance of the research lies in improving of the company valuation technique due to justification of the possibility of using correlation and regression analysis and economic-mathematical modelling for comparative business valuation.