Cílem této diplomové práce je vypracovat ocenění vybraného podniku pro účely jeho vedení. Práce je rozdělena do dvou tematických okruhů. První literární část obsahuje teoretický základ pro oceňování podniků. Obsahuje metodické postupy strategické, finanční analýzy a analýzu generátorů hodnoty. Praktická část aplikuje teoretické metody při ocenění konkrétního podniku. Výsledná hodnota podniku je stanovena pomocí vybraných výnosových metod DCF entity a EVA.

This thesis investigates the relation between capital structure and company value. The theoretical part of the thesis discusses different approaches to finding the optimal and most efficient capital structure for the company. Even though a broad theoretical basis related to the topic of capital structure exists, quantifying the theoretical background can lead to a variety of problems. Until now, no clear approach to optimizing the capital structure has been identified. In the practical part of the thesis, theoretical knowledge is applied on a real company COOP Jednota in Jindřichuv Hradec and an optimal capital structure is proposed.

The subject of establishing the market value is PKS MONT stock company specializing in the production of windows and doors made of plastic, wood and aluminum. It is a company founded in 1996 as a member of PKS holding companies which are targeting mainly on building sector. The mentioned company realized an important investment in modernization of production facilities in 2009. Size of the investment exceeded CZK 120 mil., more than 90 % total assets of the previous year. The market in which the company operates is undergoing a crisis due to the economy decrease. This situation has a negative impact on the indebted company. The main impact of decline in demand is expected in 2011, first year of financial plan. The financial plan is built on the current corporate financial policy and in many cases modified in response to predicted market developments with covering company possibilities to find permanent use in the increasing competition. The main purpose of the thesis is determination the company market value based on discounted free cash flows from business activities. Predicted free cash flows affected decline in demand in 2011 and necessity of permanent investments in modernization of production facilities in order to maintain technical and technological progress with competition and with the market. The financial plan forecast can help management to focus on possible scenario of future development and adapt it their next steps. Each project is based on assumptions and level of risk, which can act positively or negatively on the assumptions set. Therefore, the conclusion is devoted to risk analysis tests changes in result depending on probability distribution all analyzed assumptions.

The object of this thesis is to determine the market value of the company Wolters Kluwer a.s. on the date 1st January 2010. The main object of the activity of this company are publishing and provide system of legal information. The valuation consists of financial analysis, strategic analysis and prediction of generators of values, which are used for making the financial plan. The valuation is provided by 2 methods. DCF Equity method and market comparison.

The main goal of this diploma thesis is a valuation of the company BONAVITA, spol. s.r.o. referring to 31st December 2014. Valuation process is based on publicly available data such as company´s annual reports. The diploma thesis consists of two main parts. The first is the theoretical part providing explanation and description of basic terminology, methods and approaches used in this particular valuation process. The practical part begins with a company introduction, followed by strategic and financial analysis in order to analyse the environment and financial health of the company. After that the value drivers are planned and on this basis the financial plan, which consists of a balance sheet and income statement, is formulated for the period from 2015 until 2019. The financial plan is a key element for valuation of the company using the DCF entity method which is compared to the book value of company´s net assets.

The aim of the thesis is to provide investors and other stakeholders with an approach how to calculate the fair value of a company and its stocks to make an investment decision. As stock market prices are influenced by many events, they rarely reflect the true underlying value of the company. The company investigated in this thesis is the German airline company Lufthansa. A strategic, a financial and a ratio analysis are performed before the fair value is assessed using the discounted cash flow method under three future scenarios. The analyses revealed a possible undervaluation of the company, which led to a buy recommendation for shares of Lufthansa.

The aim of this diploma thesis is to estimate the value of the company Jan Becher - Karlovarská Becherovka a.s. The valuation is made by June 30, 2015 for the purposes of current company shareholders. First part of the thesis is dedicated to the theoretical instruments of the company valuation, which are subsequently applicated in the second part of the thesis. First of all, the valuated company is briefly introduced and afterwards follows the strategic and financial analyses. The main goal of these analyses is to set a strategic background of the company, asses its current as well as expected future market position and its overall financial results. Based on these analyses, the main value drivers are specified and afterwards, with use of gained data, financial plan containing balance sheets and profit and loss accounts for the years 2016-2020 is compiled. This financial plan serves as a foundation stone to the valuation. The valuation itself is done using a yield method of discounted cash flow in variant of FCFF. At the end of this thesis, the estimated value of the company is also compared with the book value of the company.

The aim of the thesis is to determine the value of equity of the company Rodinný pivovar BERNARD a.s as of July 31st, 2012. To assess the value of the company the DCF Entity approach is used. The thesis itself is divided into two separate parts. The first contains the theoretical basis for company valuation and general description of methods and procedures that are used. The second part introduces the business, analyses its relevant market and macro environment and sets the prognosis for its future development. This prognosis is essential to set up a financial plan which is then used to determine the value of the company for its owners. The final supplementary chapter describes the possibilities of using Monte Carlo simulation as an extension to the classical methods of company valuation.

The main goal of the thesis is to determine the value of the company Třinecké železárny, a.s. In the thesis I am describing the main characteristics of the company and using financial and strategic analysis I am forecasting the value generators which are essential for the financial plan of the company. The special emphasis is put on identifying the macroeconomic environment of the company and forecasting the overall revenues using regression analysis. The valuation is to be valid on the date of 1st January 2012

The diploma thesis is focused on the determination of the business value of the company IMA - material for the furniture industry s. r. o. The theoretical part defines the procedure for determining the business value and valuation method. The analytical part is devoted to strategic analysis of the company based on the financial plan, which was created, and then final valuation of the analysed company is proposed.