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Analysis of Enterprises Valuation Based on Free Cash Flow

Author: LiuZhaoMin
Tutor: YueAiZhen
School: Huazhong University of Science and Technology
Course: Business Administration
Keywords: Free Cash Flow Discounted free cash flow Enterprise Value
CLC: F275
Type: Master's thesis
Year: 2005
Downloads: 918
Quote: 9
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Abstract


China's capital market is in the early stages of development , the public's investment philosophy is still quite immature , modern enterprise valuation is significant , not only theoretical but also practical significance . Corporate Valuation enterprises outside investors investment analysis tool as well as an internal management tools managers . Enterprise free cash flow the corporate wealth created by operating activities , it is the most important part of the company value assessment system , its performance on a measure of the company 's results of operations and investment value is better than the net profit , earnings , operating activities net cash flow indicators, can effectively portray the listed companies based on the value of the ability to create long - term development potential . The enterprise value is equal to the present value of the expected cash flows discounted at the appropriate discount rate . The discounted cash flow method is a commonly used method to assess the enterprise value , on the basis of the analysis in the previous attempt to study how to use a discounted cash flow model specific assessment of the value of the enterprise . Enterprises discounted value of future free cash flow and enterprise value has a positive correlation with the discounted present value of the future free cash flow is the greater , the greater the value of the business , that the company's share price should be higher and higher . Enterprise development , the ultimate goal is to maximize enterprise value , there are many factors affecting the value of enterprise , industry , category , the enterprise value of the main determinants of the different . Which factors bring positive free cash flow is the greater , the higher the degree of its enterprise value around , and thus the more necessary it analysis . Seize the key factors in the process of enterprise development , only good key factor in order to truly improve the value of the business , bigger and stronger enterprise .

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CLC: > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management
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