How would you value a company with no revenue at all?

The company with no revenue at all can be valued by Net Asset Method.

The valuation of a company is based on its net assets and liabilities (if not a going concern).

agree with answers >>>>><<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

It depends on what you mean by 'no revenue'.

If this is a pre-revenue firm (a venture investment, for example, in a technology start-up), the firm will provide projected income over the next 5-10-15, up to 40 years along with associated expenses. You will conduct a normal DCF on a high WACC and calculate your present value of the business, which will be allocated to the various shareholding rounds (Series A, Series B, etc.) of investing using a waterfall and/or Monte Carlo allocation. There are a couple other techniques used for a 'pre-revenue' firm.

The other situation, where the firm used to be a going concern and/or cash-flow generating entity but is no longer conducting any operations, you will look into  a net asset approach where the assets are acquired by a strategic and/or financial buyer, who will calculate a value based on their expected synergies. They might just use a cost/replacement approach for the assets but will generally apply significant discounts to the value of the business given the distressed nature (since it has suspended revenues). A more appropriate question would be a firm with no income - if a firm does not have any revenue, it is not conducting any business activity and will generally be in control of the debtholders (because it still has expenses, assuming it had debt to begin with).Never a single answer in valuations. It all depends on the situation you are in.

it must save the recorded expenses, and it will recognize a loss in income.

with net value method of its assets.

through its assets, in general from its balance sheet.

The company that does not have revenues at all would probably be valued based on Net-Asset Value i.e. the current value of it's Non-Current + Current Assets Less: Liabilities.