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Valuation of Engineering Company using Income Capitalization Approach
Holly, Kristýna ; Karas, Michal (referee) ; Režňáková, Mária (advisor)
The diploma thesis deals with the determination of the value of the company Mubea IT Spring Wire s.r.o. by using method of discounted cash flow in entity variant as at 31. 12. 2020. The theoretical part is focused on the description of basic concepts and all analysis applied in the practical part. The practical part contains of strategic and financial analysis, prognosis of value drivers, the compilation of a financial plan and determination of the value of the company.
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Valuation of Engineering Company using Income Capitalization Approach
Holly, Kristýna ; Karas, Michal (referee) ; Režňáková, Mária (advisor)
The diploma thesis deals with the determination of the value of the company Mubea IT Spring Wire s.r.o. by using method of discounted cash flow in entity variant as at 31. 12. 2020. The theoretical part is focused on the description of basic concepts and all analysis applied in the practical part. The practical part contains of strategic and financial analysis, prognosis of value drivers, the compilation of a financial plan and determination of the value of the company.
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The impact of changing exchange rates on Czech companies
Klečka, Michal ; Baxa, Jaromír (advisor) ; Semerák, Vilém (referee)
This thesis analyses impact of exchange rate exposure in Czech Republic on sample of ten Czech companies. Empirical part of thesis builds on Nazl, Kar, Akel (2014) and through market-based approach states significant impact of exchange rate exposure for 40 % of companies. Higher robustness of results was achieved through improvements in the methodology which, contrary to related literature, eliminates endogeneity of market index through instrumental variable. Surprisingly, the correlations between exchange rates and stocks of Czech companies are positive. An alternative model considering ROA of individual companies as dependent variable was used to confirm these results. The resulting impact of exchange rate exposure of alternative model is opposite. This inconsistency of the results of both models is confusing. The sudden change in exchange rate policy of the Czech National Bank in November 2013 did not affect the sensitivity of the relationship between exchange rates and stocks. The reaction of stock market in November 2013 indicates that policy change made by CNB was not entirely expected. Contrary to the related literature, higher data aggregation decreases the significance of the exchange rate exposure, signifying higher ability of Czech companies to reduce exchange rate risk in longer...
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Valuation of manufacturing enterprise
Korkisch, Jaroslav ; Neumaierová, Inka (advisor) ; Hájek, Jiří (referee)
The aim of the thesis Valuation of manufacturing enterprise is to determine the value of the company to the date December 31, 2015. First of all, it introduces the company. Subsequently, the strategic analysis, which is characterizing the market, its future development and market share of valued the company. After a financial analysis by classical methods and INFA approach which are the basis for set up a financial plan and planed financial reports. And the financial plan is a base for the valuation of company by discounted free cash flow to the company.
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Valuation of company Jan Becher
Rosenbreyer, Jan ; Špička, Jindřich (advisor) ; Boukal, Petr (referee)
The aim of this thesis is the valuation of company Jan Becher - Karlovarská Becherovka, a. s. at the date of 31st December 2014. The thesis is divided into two main parts. In the theoretical part the approach to the valuation of the company is defined. In the practical part, the above defined approach was used for strategic and financial analysis of the company, followed by the compilation of complex financial plan and definition of discount rate. What follows is the final valuation of the company which was accomplished through discounted cash flow method in the entity approach. At the end of the thesis the determined value through discounted cash flow model was compared to the accounting value of the company.
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Determination of value of the company
Mičková, Martina ; Scholleová, Hana (advisor) ; Brabec, Martin (referee)
The aim of this Master's Thesis is to determine the value of cheese factory Orrero to December 1, 2013 for yet unknown buyer. The first part of the thesis deals with a theoretical basis for company valuation, there are stated reasons for evaluating the company and there is described a valuation procedure, followed by a description of strategic and financial analysis, financial plan and valuation methods. In practical, core part of the thesis I have presented Orrero enterprise and then I have worked out its valuation in accordance with the theoretical part of the work. As a valuation method there was chosen free cash flow to the firm.
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Valuation of Servisbal Obaly, s.r.o.
Šťásková, Petra ; Krabec, Tomáš (advisor) ; Plánička, Pavel (referee)
The aim of this thesis is to find out the fair value of the company Servisbal Obaly s.r.o. to 1. 1. 2009. The thesis is divided into five parts. The first part consists of company introduction. The second part consists of strategic analysis, where the market potencial of the company is analysed. Other part is financial analysis and its aim is to assess the financial condition of the company. Then, an analysis and projection of value generators was carried out and financial plan was created. The valuation is made by DCF Equity method, as an alternative method is chosen method of market comparison, in particular the Guideline Public Company method.
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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 Golf Club Český Krumlov a.s.
Řehák, Martin ; Krabec, Tomáš (advisor) ; Brabenec, Tomáš (referee)
The goal of the thesis is to evaluate the company Golf Club Český Krumlov a.s. with discounted cash flow method. The thesis will be classified into chapters, which will be devoted into strategic analysis, financial analysis, value divers, financial plan and final valuation. The output of the thesis is complete valuation, where theoretical knowledge gained from previous studies will be used for the evaluation of real company.
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Ocenění podniku AGRI-M, spol. s r. o.
Oklešťková, Lenka ; Scholleová, Hana (advisor) ; Chybíková, Ivana (referee)
The aim of the diploma thesis is to determine the market value of the company AGRI-M, spol. s r.o. on the date 1.1.2009. Theoretic part of the work attend to the methodological appliance of company evaluation. Practical part applies these methods to the company. In the introduction there is an introduction of the analysed company. Then the strategic analysis follows, which consists of analysis of development of macro-environment and micro-environment. Financial analysis rates of performance of the company by using methods of absolute, ratio and global indicators. On the basis of the prognosis of the progression of the incomes a plan of income statement and also a plan of balance-sheet is put-together. In the final part the company is avaluated using two - phase discounted cash flow method in the version of FCFF. At the conclusion of the thesis there is the valuation statement.
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