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Valuation of the Firm by Using Income Capitalization Approach
Vítková, Veronika ; Kuřátko, Ludvík (referee) ; Karas, Michal (advisor)
This diploma thesis deals with the valuation of the company STROJSTYL, s.r.o. The theoretical part defines basic concepts and methods related to the valuation of the company and mentions the procedure for performing the valuation of the company. Then follows the practical part, in which the company is introduced and theoretical knowledge is applied to the selected company in order to perform the final valuation of the company by 1 January 2019.
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Valuation of the Firm by Using Income Capitalization Approach
Příhodová, Jitka ; Leitner, Dominik (referee) ; Karas, Michal (advisor)
The diploma thesis deals with the estimation of the value of the company Metaldyne Oslavany, spol. s r. o. by using the method of discounted cash flow and the economic value added . The theoretical part of the thesis deals with the explanation of basic concepts and procedures of company valuation. The practical part is devoted to strategic and financial analysis of the company, forecasting of value drivers, proposal of a financial plan and determining the cost of capital. Finally, the value of the company is estimated as of 31. 12. 2020.
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Impact of Capital Structure and Its Changes on the Value of Companies Obtained Through the Discounted Cash Flow Formula
Chyba, Jakub ; Mejstřík, Michal (advisor) ; Kurka, Josef (referee)
The thesis aims to address the issue of using improper weights of equity and debt in Weighted Average Cost of Capital in the Discounted Cash Flow to Firm valuation technique. In theoretical part I present the textbook derivations of the discussed method and algebraically show the necessity of using target market value of equity in Weighted Average Cost of Capital for this method to lead to unbiased results. Furthermore, I argue that in practice current market value of equity is more than often used instead of target value. In practical part I then try to quantify the biases which may stem from using improper weights for equity. I model resulting biases based on variables such as Return on Invested Capital and growth profiles. I find that in my modeling the level of relative bias gets ceteris paribus larger with lower Return on Invested Capital and larger relative difference between target value of equity and value of equity used in Weighted Average Cost of Capital.
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Valuation of the Firm by Using Income Capitalization Approach
Vítková, Veronika ; Kuřátko, Ludvík (referee) ; Karas, Michal (advisor)
This diploma thesis deals with the valuation of the company STROJSTYL, s.r.o. The theoretical part defines basic concepts and methods related to the valuation of the company and mentions the procedure for performing the valuation of the company. Then follows the practical part, in which the company is introduced and theoretical knowledge is applied to the selected company in order to perform the final valuation of the company by 1 January 2019.
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The market value of a business corporation as a factor for future decision-making by the owner
REZKOVÁ, Eva
The main aim of the diploma thesis is to determine the market value of a corporation for the purpose of choosing an alternative to maintain the owner's regular financial income or to ochieve a one-off income from the sale of this business corporation. The chosen company was MADETA a. S. The DCF method was chosen for the award. The characteristics of the selected company, the strategic and financial analysis, the value generators and the financial plan are processed. All this was used to determine the market value of the corporate corporation as of December 31, 2015. In the end of the thesis, the alternative of maintaining the owner's regular financial income or a one-off income from the sale is evaluated.
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Stanovení hodnoty společnosti BRNO INN, a.s.
Hubáček, Michal
The theoretical part of my thesis defines fundamental terms concerning business valuation and refers to the valuation standards and the valuation process. In the data analysis are mentioned theoretical basics of strategy and financial analysis, discount rate, valuation generators. In the practical part is set the valuation of company BRNO INN, a.s. with using the income methods Discounted cash flow entity and Economic value added entity. I will describe the company and the tourist movement in the strategic analysis. Then I will follow with setting of the business perspective, discount rate, the financial analysis and the forecast of valuation generators. At the end there will be the application of mentioned income methods and the final business valuation will be set.
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The Estimation of The Market Value Of The Company JIZERSKÉ PEKÁRNY spol. s r.o.
Schwarz, Richard ; Jahodová, Lucie (advisor) ; Šnajdr, Ivan (referee)
This diploma thesis deals with the estimation of the market value of the company, which has long been active in the bakery market. The aim of this diploma thesis is to find the market value of JIZERSKÉ PEKÁRNY spol. S.r.o., which would reflect the real situation on the bakery market. The conclusion of the thesis should be a range of values and justification. The diploma thesis is divided into financial analysis, strategic analysis, value generators, financial plan and final evaluation. The first part of the thesis deals with the analysis of the valued company and selected competitors. Financial analysis attempts to justify the amount and changes of values, including comparison with competitors and the value creation test. The strategic analysis focuses on the internal and external potential of the valued business. In terms of internal potential, especially in comparison with competitors, the external potential emphasizes the description of the position of the valued company in the Czech Republic market. The financial plan is based on the analysis and prognosis of the value generators. The final valuation method uses standard yield valuation methods and, in a simplified version, valuating in accounting value.
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Determining the value of CRV Czech Republic, Ltd
Hanzalová, Mirka ; Jánský, Jaroslav (advisor) ; Sabolovič, Mojmír (referee)
An aim of this diploma thesis is to determine the value of CRV Czech Republic, Ltd. The document will serve to help to improve management's awareness of a management of the enterprise they lead. The thesis is divided into two parts, namely theoretical and practical. The theoretical part explains a valuation process, including a definition of valuation methods. The practical part then presents results of parts of evaluations conducted by a strategic analysis and a financial analysis. Next follows the analysis and prognosis of the value generators and a compilation of a financial plan. Finally, the valuation is done using discounted cash flow methods, an economic added value and capitalized net returns. The valuation method also uses an equity method. At the end, synthesis of results is made and the final value of the company is stated to 31 August 2016.
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Oceňování podniku
Kubíková, Lucie
The diploma thesis is called "Business valuation". The aim is to evaluate a chosen company by using an income valuation method and compare it with book value of the company. The first part is focused on theoretical basis of a strategic and financial analysis, description of creation of a financial plan and the income methods of business valuation. At the end of the theoretical part it is necessary to define the relationship between the company and the region in which the company operates. The practical part includes an introduction of the chosen company ORRERO a.s., followed by a valuation, using procedures and methods from the theoretical part. For the business valuation the discounted cash flow method and book value from the day January 1, 2013 were used. At the end of the practical part the impacts of company's conduct on the region are indicated.
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