| Abstract [eng] |
This thesis discusses the fundamental aspects of business valuation. Based on analysts insights and good practice, the true value of a company is determined. Thesis classifies various business valuation methods that are most common in today‘s scientific literature and practice. In the first part of the work, based on the scientific literature, the main business valuation methods, their advantages and disadvantages are described, and the essential principles of calculation are presented. Four methods were chosen to determine the fair value of APB „Apranga“: discounted cash flow, capitalized cash flow, excess earnings and relative valuation. The second part consists of the financial analysis of financial and relative indicators of APB „Apranga“. The obtained results are compared with companies in the same sector. In the third part, based on methods outlined above, the fair value of APB „ Apranga“ is determined. The obtained results are summarized and conclusions are presented. |
