遠(yuǎn)x-企業(yè)價(jià)值評(píng)估(ppt35)-經(jīng)營(yíng)管理-資料下載頁(yè)
2025-08-05 16:49本頁(yè)面
【導(dǎo)讀】自由現(xiàn)金流量恒值增長(zhǎng)公式法。市價(jià)－帳面比率法。從概念級(jí)考慮企業(yè)核心。需要確定構(gòu)成因素價(jià)值。處于種子期創(chuàng)業(yè)企業(yè)。用于對(duì)其他計(jì)算方法。本公司目標(biāo)市場(chǎng)份額。所預(yù)期時(shí)間內(nèi)技術(shù)帶來(lái)的每人收益。3管理團(tuán)隊(duì)價(jià)值=從事服務(wù)人數(shù)?不能考慮通貨膨脹、適用于出現(xiàn)問(wèn)題的、對(duì)某些公共設(shè)施企業(yè)。根據(jù)當(dāng)時(shí)市場(chǎng)狀況，依靠一些經(jīng)驗(yàn)指標(biāo)計(jì)。發(fā)展階段的合理定義。.約50%的預(yù)期收益來(lái)自成熟階段。從實(shí)際市場(chǎng)取得數(shù)。受相同行業(yè)、相同。需要大量數(shù)據(jù)，對(duì)。現(xiàn)實(shí)中最常用方法。資本收益率=EBIT(1-t)/資本平均帳面價(jià)值
【正文】 企業(yè)價(jià)值評(píng)估 Step Five: Restructured value ? Identifying opportunities to create value from differences between potential internal and external values ? Overall restructuring plan ?Identify actions as acquirer may take to bust price and pare with SBG capabilities ?Actions: stop expansion, sell etc. 企業(yè)價(jià)值評(píng)估 Basic Valuation Method PV of cash flow after explicit forecast period + Value = PV of cash flow during explicit forecast period DCF, Cost of capital and beta, Value of Equity, Terminal value 企業(yè)價(jià)值評(píng)估 FCF ? Free cash flow is after tax cash returns generated by a business and available for distribution to all investors as dividends, interest, or principal repayments. Operating Profit Adjusted cash taxes +Depreciation = Gross Cash Flow Gross Cash Flow Gross Investment (addition to plant, WC, etc) = FCF FCF = Interest and principal and Dividends 企業(yè)價(jià)值評(píng)估 DCF ? Marketing Decision – Price level – Market Share goals ? Operating Decisions – Service levels – Operating costs – Capital expenditures ? Financial Decisions – Tax structure – Debt levels ? Risk Cash Flows amp。 Value 企業(yè)價(jià)值評(píng)估 DCF ? Marketing Decision – Price level – Market Share goals ? Operating Decisions – Service levels – Operating costs – Capital expenditures ? Financial Decisions – Tax structure – Debt levels ? Risk Cash Flows amp。 Value 企業(yè)價(jià)值評(píng)估 謝 謝 !
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