Ocenění podniku vybranými metodami

Abstract

The aim of the diploma thesis is the equity valuation of a company to 1st January 2011. For valuation of company´s equity yield methods will be used which includes method of discounted cash flow DCF – Equity and methods of capitalized profits in both two versions. Diploma thesis will be divided into four main parts. First part will be devoted to the description of the basic characteristics – the description of basic terms, about enterprise value and their each category. Then will be described reasons for valuation of company and valuation. In the second part of thesis will be company IMOS Brno, a.s. described including history and line of business. After description of company, strategic analysis will be done. Financial analysis will be performed with basic financial ratios. Financial plan will be proposed in three different versions according to the prediction of the GDP and its impact on the company´s revenues. (Ministry of Finance of the Czech Republic, Citibank and PWC). Third part of thesis is devoted to the applications of selected methods for valuation. First, cost of capital is estimated, then free cash flows for owners and equity values are calculated according to the method employed and financial plan versions. Finally, the analysis of sensitivity is performed. In the last part, results of the valuation are compared and discussed.