Ocenění společnosti za rizika

Abstract

The thesis aims to determine the value of the company's equity of the Czech Railways under risk. The valu eis determine for the day of 1. 1. 2016 using a two-stage discounted cash flows - equity. The theoretical part defines the basic concepts related to the business valuation. It briefly describes the financial analysis focusing on the pyramid decomposition and analysis of deviations. Next, various methods that can be used to determine the value of the company are described here, as well. The practical part captures all calculations necessary to determine the value of equity, including relevant charts. Within the calculation, pyramid decomposition, simulation of random variables, predictions of financial variables, the calculation of free cash flow, the cost of capital and equity valuation is performed.