Ocenění společnosti AUTO Heller, s.r.o. pomocí dvoufázové metody diskontovaných peněžních toků

Abstract

The diploma thesis is focused on the valuation of a company using two-stage discounted cash flow method DCF – Entity for owners and creditors. The aim of this thesis is to determine the market value of the company AUTO Heller, s. r. o. to 1. 1. 2013 for purpose of insurance. The theoretical part of this work is focused on characteristics of valuation in general. There are terms defined such as company, company value, process and mason for valuation in the theoretical part. These are followed by a description of strategic analysis, financial analysis, making financial plans and characteristics of each method of valuation. The last chapters of theoretical part depict the definition of free cash flow and costs of the capital. The practical part is focused on the selected company AUTO Heller and the application of theoretical knowledge. That covers strategic analysis including SWOT analysis, financial analysis and drawing-up a financial plan for 4 years. The financial analysis includes vertical and horizontal analysis, analysis of individual financial ratios and the pyramid decomposition of the Return on Equity. The valuation of the company is performed subsequently by DCF-Entity method. The conclusion is dedicated to the summary of the results and carrying out the analysis of sensitivity of chosen parameters.