| Abstract [eng] |
The problem in company valuation is not that there not enough models to value an asset, it is that there are too many. Choosing the right model to use in valuation is as critical to arriving at a reasonable value as understanding how to use the model. This paper attempts to provide an overview of the valuation models and to come up to the market price of the company. The analyst faced with the task of valuing a firm or its equity has to choose among three different approaches – discounted cash flow valuation, relative valuation, and option pricing models – and within each approach, between different models. The main aim of this graduation paper was to analyze the firm valuation methods and after choosing the right method for determining firm value - to calculate the value of chosen companies. The study consists of three parts. First part is theoretical, where conception and methods of firm valuation are presented. Second part analyzes risk factors for firm valuation and presents methodology of firm value calculation. Third part contains overview of the firm valuation results and present future perspectives of firm valuation. The major part of material consisted of the information gained from specialized publications, articles from newspapers, magazines. The analytical part of this study was based on the researches and analysis of different analysts and author’s own opinion and then calculation of firm value. |
