Ocenění podniku vybranými metodami

Abstract

The aim of this dissertation is to determine the value of equity of the Madeta by selected yield methods to 1st January 2011. Valuation will be made by using a two-phase DCF-Equity method and capitalized earnings method in the analysis and the flat version. The diploma thesis is divided into four parts. First part is focused on the description of the theoretical valuation background. This part will focus on explaining of the general concepts necessary for valuation, definition of the procedure, which should be followed in the valuation of the company and especially there will be described each valuation methods. In the second part, Madeta company is presented. Next, strategic analysis is performed, where the analysis of the development of selected macroeconomic indicators is described. Next, a sector in which a company operates is identified and competitive enterprises. Subsequently, there will be the evaluation of the company's performance using selected financial ratios conducted and three versions of financial plans will be proposed. In the third part will be applied selected methods for equity valuation. First, cost of equity and free cash flow for the owners are calculated. Thereafter, value of the company's equity is determined. At the end of this section, comparison of the results according to the selected methods is done. In the last part of the diploma work, sensitivity analysis is performed. Here it is analyzed, how input changes affect the equity value.