This thesis deals with methods and options of valuation of companies, valuation process and everything that goes with it. An integral part of the strategic analysis is financial analysis and financial plan to years 2016 - 2020. For the financial analysis following methods have been used: vertical and horizontal analysis, a ratio indexes and the balancing rules. The financial plan has been drawn up by value generators. The aim is to valuate a specific company ELIT CZ, Ltd., which is engaged in the purchase and sale of spareparts for cars. I used to valuation by discounted cash flow method (DCF). The company is valuated to date 31. 12. 2015.

The task of the final thesis is to estimate the value of the enterprise in order to sell the minority stock to unknown buyer. Whole the work is divided to two parts. The first one is theoretic part, which is presented by description of strategic analysis, financial analysis, financial plan and valuation methods. Strategic analysis consists of analysis of external potential of company and its competitive strength. The purpose of financial analysis is to show financial condition of the company using chose ratios and other financial tools and methods. The last important part is financial plan. In accordance with financial plan are predicted future revenues and cash-flow, which is the essential for method discounted cash-flow. In the second practical part were applied strategic analysis, financial analysis of financial statements, created financial plan and estimated the value of the company by the most appropriate method of valuation of enterprise.

El propósito de la investigación ha sido desarrollar las metodologías correspondientes a la valoración de organizaciones empresariales de tipo financiero, debido a que no existe un método definido para valorar a este tipo de instituciones. En el mercado existe una gran variedad de métodos de valoración, algunos de ellos no libres de dificultades en su aplicación práctica. Sin embargo, hay métodos que pueden ser adecuados para valorar a las entidades del sistema financiero, como el Flujo de caja para el accionista (Free Cash Flow Equity), que representa el valor de las acciones; y el Método de flujo de dividendos descontados (DDM por sus siglas en inglés: Dividen Discount Model), que es el precio de la acción de una compañía en función de los dividendos que va a repartir en el futuro; también se analiza el método de descuento de flujos, que literalmente es una de las metodologías menos complicadas; y, finalmente el método de Valorización de Utilidades Retenidas. Estos métodos de valoración permiten al inversionista estimar el valor; y, de esa manera, tomar una adecuada decisión de inversión. / The purpose of the research is to develop the methodologies corresponding to the valuation of business organizations of a financial type, because there is no established method for valuing this type of institutions. In the market there is a wide variety of valuation methods, some of them not free of difficulties in their practical application. However, there are methods that may be suitable for valuing the entities of the financial system, such as the Free Cash Flow Equity, which represents the value of the shares; and the Discounted Dividend Flow Method (DDM), which is the price of a company's stock based on the dividends it will distribute in the future; The flow discount method is also analyzed, which is literally one of the least complicated methodologies; and, finally, the method of Valorization of Retained Utilities. These valuation methods allow the investor to estimate the value; and, in that way, make an appropriate investment decision. / Trabajo de Suficiencia Profesional

This dissertation is focused on assessment of ZZN Pomoraví company. The theoretical part of the thesis discusses the basic approaches of assessing a company and describes particular methods used in this process. The practical part of the thesis deals with the assessment of the particular company based on previous strategic and financial analysis.

The subject of the Master´s thesis is problem of the Estimation of Company Market Value. Theoretical part contains elementary knowledge from literature and possiblities for Estimation of the Company Value. Practical part includes estamation of real company market value by profit method of discounted cash flow.

The thesis is elaborated in order to create a business plan. According to the current situation of the company CAMFI L.t.d., I analyze and judge the options for its future development. The results of my analysis in the thesis will be instrumental towards the supporting documentation for company’s management decisions on its future developments.

This thesis deals with the valuation of the selected company by revenue valuation methods. In the first part of the thesis is defined valuation theory and these findings are then used in the analytical and practical work. In the analysis of the selected company characterized, there is a defined market in which it operates and the strategic and financial analysis. In the practical part is based on the results of analysis and business valuation using the discounted cash flow.

No description available.

Thesis (MBA)-- Stellenbosch University, 2004. / ENGLISH ABSTRACT: The traditional cash flow statement consists of cash from operating activities, cash to investing activities and cash from/to financing activities. In essence, literature showed that, if cash from operating activities would be negative for two successive years, such listed industrial company may be classified as fmancially inflexible, resulting in a take-over by another company, a forced rights-issue or even a delisting/bankruptcy. The traditional cash from operating activities will be classified as EBIT - interest - taxation + depreciation and +/- non-cash items +/- changes in working capital. To enable capital-intensive companies to be classified as financially flexible or inflexible, it was found necessary to identify replacement investment activities as opposed to expansion investment activities. / AFRIKAANSE OPSOMMING: Die tradisionele kontantvloeistaat bestaan uit kontant uit bedryfsaktiwiteite, kontant aan investeringsaktiwiteite en kontant van/aan finansieringsaktiwiteite. In essensie het die literatuur aangedui dat, as kontant uit bedryfsaktiwiteite van twee agtereenvolgende jare negatief is, sodanige genoteerde industriële maatskappy as finansieel onbuigsaam geklassifiseer kan word en wat kan uitloop op 'n oorname deur 'n ander maatskappy, 'n geforseerde regte-uitgifte of selfs 'n denotering/bankrotskap. Die tradisionele kontant uit bedryfsaktiwiteite sal geklassifiseer word as bedryfswins - rente - belasting + depresiasie en +/- nie-kontantitems +/- veranderinge in bedryfskapitaal. Om kapitaal-intensiewe maatskappye in staat te stel om geklassifiseer te word as finansieel buigsaam of onbuigsaam, is daar bevind dat vervangende investeringsaktiwiteite onderskei moet word van uitbreidings investeringsaktiwiteite.

Asset Liability Management is relevant to, and critical for, the sound management of the finances of any organization that invests to meet its future cash flow needs and capital requirements. For a life insurance company in particular, it is an important component of the actuarial work in the company. What an insurance company sells to customers is a promise. Cash flow testing is such a process of testing the insurance company’s ability to keep its promises. The purpose of this report is to provide a brief introduction of the assets and liabilities of an insurance company and how cash flow testing is done in Prophet, an actuarial software used in the industry. / text