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The valuation of the company VLK Ltd.
Becková, Michaela ; Scholleová, Hana (advisor) ; Kotáb, Jiří (referee)
The target of this diploma paper is to determine a value of the company VLK Ltd. The paper consists of the theoretical and the practical part. In the theoretical part there are explained individual types of the analyses, the valuation procedures and the methods applied in the practical part. On the basis of the strategic and the financial analyses, the financial plan is determined. This plan is a groundwork for the company valuation by means of the yield-based method. For the company valuation, the yield method of discounted cash flow was applied, namely the Two-phase Model using free cash flow for owners and creditors.
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Business Valuation of Zálesí a.s. hotels unit
Vavrys, Jan ; Drozen, František (advisor) ; Vančura, Jiří (referee)
The goal of this thesis is to value the Hotels business unit of the Zálesí a.s. company by calculating its market value. The final valuation statement is supposed to serve to the management of the company for the purposes of investment management decision making and budgeting and for the evaluation of the buying bids. The thesis is divided into two parts. First one introduces the valuation methods, its pros and cons and criterions used for the selection of the method. The DCF method is introduced more in details. Second part of the thesis starts with the company introduction, continues with the strategic analysis, financial analysis and a financial plan compilation based on the results of the analysis. Costs of capital are determined as a weighted average cost of capital, where CAPM is used for the cost of equity calculation. At the end the valuation itself is performed and the final valuation statement added.
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Determination of the value Metrostav a.s.
Safronau, Pavel ; Heřman, Jan (advisor) ; Luzanová, Marianna (referee)
The aim of this diploma work is the determination of the value Metrostav a.s. to date 1. October 2009 by using discounted cash flows. The Value of this company it might serve the owners if they want to sell shares of unspecified buyer. Diploma work is divided to the next parts: strategic analysis, financial analysis,financial plan and the value determination of the company Metrostav. Based on the research of each of the above analysis I have concluded that the firm has a yield potential is attractive and the resulting value is greater than the balance total assets to the date of valuation.
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Valuation of PALARIAN, s. r. o.
Pyrasová, Lenka ; Kislingerová, Eva (advisor) ; Salač, David (referee)
The object of this thesis is to estimate the value of Palarian, s. r. o. to the 1st of January 2010 for the purpose of determining the value of the company's equity as information for the current owner. There are made strategic and financial analysis, analysis and forecasting of value generators. The financial plan is scheduled for the period 2010 - 2013. The company is valued using the DCF APV method. After the evaluation there is performed a sensitivity analysis on value growth. The valuation of company is defined as the estimation interval of the value, which are pessimistic and optimistic options of the valuation. The thesis contains sensitive data, which are secret.
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The valuation of the company Pivovary Staropramen, a.s.
Zbožínek, Pavel ; Kislingerová, Eva (advisor) ; Sieber, Martina (referee)
The main objective of this thesis is to determine market value of the company Pivovary Staropramen, a.s. before the merger. Master's thesis is divided into two parts - methodological and practical. Methodological part includes individual steps a procedures, that are used to total value determination of the company. Practical part of the thesis consists especially of strategic and financial analysis, financial planning and company valuation. There is used the model DCF in variant FCFF to determine the market value. For the comparison there is used the book value method. At the end of the thesis there is performed a sensitivity analysis on value growth.
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Valuation of the enterprise ZAPA beton a.s.
Zapletal, Tomáš ; Kislingerová, Eva (advisor) ; Kotáb, Jiří (referee)
The aim of this Master's thesis was to find out enterprise value dated 1.1. 2011, characterise risk connected with this value, for example as a variability of possible results and to judge how the enterprise was affected by the economic crises. I used method discounted cash flow in variant FCFF to calculate enterprise value. I used regression analysis as the basic method to predict the most significant value generator, sales, then I adjusted the results according to the predictions published in qualitative studies of the Czech building industry. The demand for enterprise production was reduced as a result of the economic crises; it enforced production reduction and led to decline in sales and profit in years 2009 and 2010, deteriorating of rentability indicators and long-term assets turnover. I found out the enterprise value with the help of software Crystal Ball also by the stochastic model. In this case I regarded the factors influencing the enterprise value as random quantities. Variability of the possible results ranges between upper and lower limit, i.e. between 1,8 and 3,2 billion crowns.
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Valuation of the company
Vybíralová, Tereza ; Scholleová, Hana (advisor) ; Smrčka, Luboš (referee)
The aim of the diploma thesis is to determine the value of the company with yield methods on the date 31. 12. 2009. The theoretical part is focused on methodology for evaluation with emphasis on key moments of evaluation. The practical part begins with introducing analysed company. This part is followed by analysis of macro-environment, micro-environment and financial analysis. On the basis of knowledge from analyses and knowledge of company is compiled financial plan, which is a base for evaluation company with yield methods, concretely with FCFF (Free Cash Flow to the Firm) and EVA (Economic Value Added). Diploma thesis is concluded with value statement and efficiency of this information to management, which is contracting authority of evaluation.
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The valuation of the company Plzeňský Prazdroj, Inc.
Čermáková, Petra ; Scholleová, Hana (advisor) ; Kotáb, Jiří (referee)
The aim of this diploma thesis is to estimate the market value of the company Plzeňský Prazdroj, Inc. at 20th April 2010 in order to sell the company to an unknown investor.In the theoretical part of the thesis are defined reasons, methods and procedures of valuation of the company. In the second part there is described the company and economic situation in the Czech Republic and in the World. This part is followed by a strategic analysis, financial analysis and construction of the financial plan for the years 2009 - 2012. At the end of the thesis is carried out the valuation of the company by method free cash flow for the firm. The resulting value is compared with a book value of the firm.
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The valuation of the company
Stodolová, Martina ; Kislingerová, Eva (advisor) ; Kolářová, Blanka (referee)
The goal of thesis is to determine the value of the company Iveco Czech Republic, a.s. for yet unknown buyer to 31.12.2009. The practical part consists of strategic analysis, financial analysis of the company statements from years 2004-2008, financial plan for 2009-2012 and the valuation. For the valuation book value, DCF method (FCFF and discounted EVA in the form of two-phase model) are used.
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The evaluation of the company Poděbradka, a.s.
Dvořáková, Veronika ; Scholleová, Hana (advisor) ; Krause, Josef (referee)
The main goal of this thesis is to evaluate the company Poděbradka, a.s. at 1.1.2010 with the yield DCF method and to compare this subjective price with sale price of the company in 2006. Diploma thesis involves theoretical part which stands as a basis for practical part. There is strategic and financial analysis in the practical part followed by financial plan and the evaluation with the DCF entity method in FCFF alternative.
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