Ocenění podniku vybranými metodami

Abstract

The aim of the thesis is to establish the market value of the company using a two-phased discounted cash flow method DCF-Entity and two-phased method of economic value added EVA-Entity. Apart from the introduction and the conclusion, the work is divided into three chapters. The first chapter concerns the issue of evaluation of companies. It explains basic concepts related to evaluation, there are enumerated methods of determining the cost of capital and describes the process of valuation, including the various methods for determining the value of the company. The last theme describes sensitivity analysis. The next chapter briefly characterizes Nekupto s.r.o. and implements strategic, financial and SWOT analysis. Based on evaluation of the existing development is compiled the financial plan for 4 years ahead. In the third chapter are determined costs of capital using the build-up model and calculated value of the net operating assets and net operating profit after tax. It’s followed by rating by both of the mentioned methods. Way-out for the calculation are the same input variables for both methods, which should ensure equality of both methods. Next is sensitivity analysis for DCF-Entity method and also EVA-Entity and comparison of achieved results. This work can be used by owner of a company to establish probable selling price in case he wants to sell it in the future.