Ocenění podniku Pivovar Svijany, a. s. vybranými metodami

Abstract

The aim of this thesis is a valuation of the company Pivovar Svijany, a. s. by selected methods. The valuation is made by DCF - Equity and a capitalized earnings method. Capitalized earnings method consists of analysis and the standard version. The first part focuses on the definition of the company and its values. Then follow the reasons and procedures for valuation of the company. The second part contains the strategic and financial analysis. Strategic analysis focuses on macro and micro. The financial analysis focuses on analyzing financial statements and financial ratios. Finally established the financial plan, which was created in three versions - basic, optimistic and pessimistic. In the third part was Pivovar Svijany valued by yeld methods. Used methods are the DCF - Equity and the capitalized earnings method. The fourth and last part focuses on the comparison of different methods. The best value of the company was achieved in the optimistic financial plan. On the other side, the pesimistic value of the financial plan was calculated as the lowest. Finally, the values were compared with a value of equity to valuation date and it was found that the capital of the company is undervalued.