Ocenění podniku vybranými metodami

Abstract

The aim of this diploma thesis is to determine the market value of equity of the company Rodinný pivovar BERNARD, a.s. to 1st January 2012 by selected yield methods. The two - phase method DCF- Equity and method of capitalized profits in the analysis and the flat version will be applied. Diploma thesis is divided into five main parts. The second chapter is the theoretical – methodological part of thesis, where the basic terms are explained. The important part of this chapter is focused on the description of valuation process and valuation methods. At the end of chapter the analysis sensitivity is described. The third chapter is the practical part of the thesis. First, brewery BERNARD is presented. Then, strategic analysis is performed, the long–term financial plan is proposed, the significant financial ratios are calculated, selected valuation yield methods will are applied and at the end of chapter sensitivity analysis is performed. In the fourth chapter the results are discussed and compared.