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Valuation of company
Lukešová, Eva ; Doláková, Helena (advisor) ; Hranička, Miloš (referee)
The aim of the thesis is to determine the value of the company Plzeňský Prazdroj, a.s. Theoretical part of the work deals with aims, methods and procedures of company valuation. Practical part applies these procedures to particular company. In introduction there are remarked basic information about company. Then follows strategic analysis, whose aim is appraisal of external and internal potential of the firm. Financial analysis rates the financial situation of the firm through analysis of absolut and ratio indicators. The work continues with analysis and plan of value generators (sales, operating profit margin, investments and working capital). Using value generators are set planned financial statements. In conclusion is the company evaluated by two -- phase method of discounted Cash Flow in the vision of FCFF. Concluding statement is established value of the firm.
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Evaluation of Škoda auto a.s.
Tumashenka, Anton ; Mařík, Miloš (advisor) ; Goldscheidová, Jana (referee)
The aim of this thesis is to determine the market value of the international company for the purpose of selling unspecified buyer. The object of evaluation is a dynamically developing Czech company Škoda Auto. The thesis consists of six parts. The first part of the evaluation is the strategic analysis, which will lead to forecasting sales. Another part is the preparation of the financial analysis as a basis for evaluating the financial health of the company. Finally, financial statement analysis will be whether the company meets the Going Concern assumption. In the following section the distribution of the assets of the company in terms of operational necessity. In the fourth part will analyze the generators of value and the fifth is the financial plan for the forecast period. If the foregoing analysis will not find the data, that would disable the firm's persistency endless, the company will be valued using the DCF Entity method and market comparison method in the last part of my work.
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Valuation of energetic company
Hradecký, Jindřich ; Marek, Petr (advisor) ; Brabenec, Tomáš (referee)
The main objective of this diploma thesis is a business valuation of company Pražská energetika, a.s. The aim of this assignment is to indicate the market value as of 1/1/2009. The appraisal is carried out by means of income method DCF in Equity version. In addition, there is a comparison with direct evaluation, where the data are taken directly from the capital market. The thesis is divided into eight chapters, which deal subsequently with basic characteristics, methods of how the strategic and financial analysis has been carried out, value drivers prediction, as well as separation of non-operating assets and calculation of discount rate including the final evaluation. The methods used are mostly similar to methods stated in publications by Miloš Mařík. The results of this appraisal could be useful for small investors, who consider buying or selling stocks of this company.
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Determination of the market value of the company Mlekarna Hlinsko, s.r.o.
Jermář, Petr ; Heřman, Jan (advisor) ; Zeman, Karel (referee)
The main aim of the thesis is to determinate the market value of the company Mlekarna Hlinsko, s.r.o. on the date 1.1. 2009. without any changes in the contemporary concept of the company. The valuation of the company is based on its yield potential. There are used two yield methods of an appraisement: discounted cash flow (DCF) and capitalized net yields (CNY). The essential parts of this valuation of the company are financial a strategic analysis, analysis of the value generators and financial plan.
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Ocenění podniku Elektroprof a.s.
Slezák, Marcel ; Mařík, Miloš (advisor) ; Maříková, Pavla (referee)
The aim of this thesis is to find the estimation of the market price of Elektroprof a.s. on 1st April 2009. DCF entity was applied as the main valuation method, the alternative one is the method of market comparison, namely method of comparable companies. The introductory provides basic information about company, other chapters includes financial analysis, strategic analysis and prognosis of value creator and financial plan.
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Business Valuation of BERNARD Family Brewery
Voplakal, Tomáš ; Mařík, Miloš (advisor) ; Hejduková, Markéta (referee)
The thesis consists of a business valuation of BERNARD Family Brewery, a brewery headquartered in the town of Humpolec and belonging to a group of several smaller breweries (related to its size). In 2001, top management decided to finance its company growth through venture capital. The main objective of this thesis is to indicate the market value as of 1/1/2009 by utilizing appraisement measures in accordance with International Valuation Standards (IVS). The business valuation is primarily determined using two well-known valuation approaches - adjusted present value method (based on income analysis) and comparable companies analysis (based on market analysis). In addition, the use of advanced statistics is applied when needed. The purpose of this assessment is to find an appropriate value for owners and other third-party stakeholders. In order to provide a full range of understanding, the paper consists of six main parts that involve a company profile, strategic analysis, financial analysis, value drivers, financial plan and a final valuation. Further, all these parts are split up into few sections.
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Estimation value of the firm Škoda AUTO, a. s.
Kolařík, Jiří ; Mařík, Miloš (advisor) ; Goldscheidová, Jana (referee)
The aim of this thesis is to find out (estimate) the value of the firm Škoda AUTO, a. s., that acting in the field of automotive industry. The thesis is separated up 6 parts. In the first part there is basic characterization of the firm. In the second part there are the strategic analysis and estimation of the future revenue. Third part is the financial analysis and a decision about financial health of this firm. Fourth part includes the value creator, that is the main source for fifth part presents the composition of financial plan. Sixth part attends to valuation of the firm. The main method has been chosen economic value added (EVA), the alternative method is the method of market comparison, in the concrete the method of comparable companies.
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Valuation of Mlekarna Kunin a.s.
Hranoš, Petr ; Scholleová, Hana (advisor) ; Cimický, Jan (referee)
The main objective of this thesis is to find a value of business, specifically of Mlekarna Kunin a.s., using method DCF APV. The value is set as at 1.1.2009. The theoretic part contains basic description of framework for business valutiaon: strategy analysis, financial analysis, valuation etc. In addition to that this part also contains description of some valuation methods, calculation of costs of equity and costs of debt. These pieces of information are subsequently used in the application part to set the value of Mlekarna Kunin a.s. using method DCF APV as at 1.1.2009. Costs of equity are calculated with CAPM model. 3M PRIBOR rate was used to calculate costs of debt.
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Hejduková, Markéta ; Mařík, Miloš (advisor) ; Maříková, Pavla (referee)
Cílem diplomové práce je zjištění objektivizované hodnoty společnosti Plzeňský Prazdroj, a.s. při zachování stávajícího konceptu podniku k 1. 4. 2007. Ocenění je provedeno metodou EVA entity a metodou tržního porovnání, a to metodou srovnatelných podniků a metodou odvětvových multiplikátorů. Součástí ocenění je finanční analýza vypovídající o finančním zdraví podniku, strategická analýza včetně vymezení relevantního trhu a analýzy vnitřního a vnějšího výnosového potenciálu, analýza a prognóza generátorů hodnoty a finanční plán.
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Ocenění podniku s realitní a výrobní činností
Špaček, Zdeněk ; Jurečka, Jan (advisor) ; Pilka, Josef (referee)
Diplomová práce obsahuje ocenění podniku který se zabývá realitní činností a také lisováním a montáží plastových součástek. Struktura diplomové práce: - finanční analýza podniku - strategická analýza podniku - generátory hodnoty - finanční plán - analýza finančního plánu - metody ocenění a zvolený postup ocenění - vlastní ocenění podniku metodou DCF Entity a metodou účetní hodnoty
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