Stanovení hodnoty vybraného podniku za rizika

Abstract

In the context of financial management and decision making, valuation and risk represent a significant area. The aim of this diploma thesis is to determine the value of the equity of the selected company under risk. The main attention is therefore on valuation issues and other areas related to this topic. Except for the valuation methodology, the theoretical part deals with financial analysis, capital costs and risk. As part of the characteristic of the selected company, the selected construction company is introduced, its potential and financial situation are assessed. The equity of the company is valued under conditions of risk using the DCF-Equity method and Monte Carlo simulation based on geometric Brownian motion. The resulting determination of the company's equity value under risk in the two valuation variants precedes the simulation of the random development of sales. Based on the simulation, net profit and future free cash flows to equity are estimated whose discounting by the cost of equity, the equity value of the company is determined for each scenario and the future year. Valuation conclusions are presented using probability and their parameters. By comparing the probability density and its parameters according to two valuation options, the equity value of the company is expressed as at 1 January 2017.