Ocenění podniku ve farmaceutickém průmyslu pokročilými výnosovými metodami

Abstract

The thesis focuses on the valuation of a company operating in the pharmaceutical industry. The objective of the thesis is to determine the value of the selected company as of 1.1.2025, using the discounted cash flow method and the economic value added method under the entity approach. The theoretical section defines the basis for the company valuation process, including strategic and financial analysis, the preparation of a financial plan, the determination of the cost of capital, and a description of the income-based methods used. The practical section first includes a description of the company and a strategic analysis with a forecast of future revenue growth performed using dynamic models based on the company’s life cycle stage, with the exponential model selected as the most appropriate. The practical section also includes a financial analysis, the results of which point to long-term financial stability, high profitability, and predicted continued dynamic revenue growth. Based on the prepared financial plan, both valuation methods were applied, yielding mutually consistent results. The resulting market value significantly exceeds the book value of the company’s assets, which may signal the company’s strong earnings potential. To enhance the informative value of the study, a sensitivity analysis and scenario analysis of the resulting enterprise value were conducted in conclusion.