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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 Vodafone Czech Republic, a. s. company as of the date of valuation on March 31, 2009
Sekanina, Jan ; Scholleová, Hana (advisor) ; Minsterová, Kateřina (referee)
The aim of the thesis is to determine the value of the equity of Vodafone Czech Republic, a. s. For the purpose of the valuation I elaborated a strategic analysis focused on the analysis of external (economy, industry branch) and internal (competitive position, market share) potential. Strategic analysis is supplemented by financial analysis to analyze the financial health and strength of the company (horizontal and vertical analysis of the financial statements, ratio analysis and competitive comparison). The valuation was carried out by income approach, namely using the discounted cash flow model DCF Entity (using free cash flows to the firm FCFF). I chose the two-phase variant of the DCF model. Detailed financial plan was prepared in order to project free cash flows to the firm (FCFF) in the 1st stage of the valuation. Free cash flow to the firm projected for every year of the 1st phase is discounted to the present value as of the date of the valuation using the discount rate (the weighted average costs of capital WACC). At the end of the valuation process sensitivity analysis was worked up. The result of the valuation was determination of the value of the equity.
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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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Valuation of T-Mobile Czech Republic a.s.
Hurda, Jan ; Scholleová, Hana (advisor) ; Fantová, Eva (referee)
The main goal of this Diploma thesis is to determine the investment value of T-Mobile Czech Republic a.s. with the objective to sell the minor share to its major shareholder. This thesis is divided into a theoretically-methodological and analytical part. In the theoretically-methodological part basic conceptions and key factors, applied valuation procedure and methods are described. For the valuation a discounted free cash flow to the firm method in a two stage model was used. As the basis for the calculation of the company's future investment value a strategic and financial analysis was performed. Resulting from these two analyses, key value generators were forecast and subsequently served as the backbone for the creation of the financial plan. This financial plan was the main source for the discounted cash flow valuation method application.
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The valuation of the company New World Resources N. V.
Konderla, Michal ; Mařík, Miloš (advisor) ; Tůma, Pavel (referee)
The goal of the thesis is to find out the value of the company New World Resources N. V. to date 31st of December 2008. In the beginning of the thesis is itroduced company profile, then is this thesis divided into four parts. In the introduction of each part are shortly characterized essential theoretical aspects, which are then used in practical application. The result of strategic analysis is prediction of sales. In the financial analysis there is interpreted financial health of the society. In the third part are estimated generators of values and then is arranged the financial plan, which is basis for the final valuation. Market value of the company is determinated by income approach, especially by the method of DCF Entity. This thesis includes also methods of market comparison.
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Ocenění společnosti Vodafone Czech Republic a.s.
Hašková, Veronika ; Mařík, Miloš (advisor) ; Legát, Viktor (referee)
The purpose of the diploma thesis is to valuate a telecommunication company Vodafone Czech Republic a.s. The first part of the diploma thesis is focused on strategic analysis. Financial analysis was performed in the following part. After the analysis of the relevant market and company's financial health, value generators and financial plan of the company for the first phase were predicted. The valuation method is based on the going concern principle. DCF entity method was used as a main method.
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