Ocenění společnosti JANKOSTAV s.r.o. vybranými metodami

Abstract

The aim of thesis is the valuation of JANKOSTAV, s. r. o. company on 1st January 2011 by two phased DCF-Equity method and capitalized earnings method on the basis of real, optimistic and pessimistic versions of the long-term financial plans proposed for the period of 2011 – 2016. Each financial plan version is distinguishes from other ones in the amount of planned revenues and assumed investments. Theoretical part of thesis explains the basic terms, the process of company valuation and also presents valuation methods, cost of equity calculation and free cash flows estimation.

Using selected indicators of financial analysis (return on assets, return on equity, total cash and total debt) is the financial situation of the company from year 2005 to 2010 analyzed. For valuation purposes costs of equity and free cash flow for the owners are calculated and forecasted. In the end, sensitivity analysis is performed, which analyzes the impact of changes in the cost of equity on the equity value according to the valuation method.