Ocenění společnosti RD STYL, a.s.

Abstract

The aim of this diploma thesis is the valuation of equity of the company building houses as at 1st January 2011 using the discounted cash flow DCF-Equity and methods of economic value added EVA Equity. Financial data to determine the proper future development of the company are derived from the period 2005 - 2010. The diploma thesis is divided into two parts, theoretical and practical part. The theoretical part focuses on the general basis of valuation, the description of the procedure for the valuation of the company and the various methods that can be used for valuation. The third chapter concentrates on the description of the company, which is further analyzed using the strategic, financial analysis and SWOT analysis. This part includes a long-term financial plan proposal for the period 2011-2015 in the following structure: balance sheet and profit and loss statement in three different versions - basic, optimistic and pessimistic. The fourth chapter includes equity comparison of company RD STYLE, Inc. by using selected methods of valuation. Capital costs are determined using the build-up model and the equity value by selected methods application is calculated. Results are compared with book equity value and conclusion is made. In the last chapter, sensitivity analysis is performed where impact of changes in selected inputs on equity value is analyzed.