The aim of this thesis is to determine the value of the company Hilti, Ltd. and carry out its valuation for a potential investor. The resulting's valuation is designed for the broadest investment community. The thesis consists of two parts, theoretical and practical. The theoretical part acquaint the reader with the basic theoretical framework for valuation and the basic concepts and it is explained to select the method of discounting free cash flow for the owners and creditors as of the methods for the valuation. The practical part is, after a brief presentation given to strategic analysis, financial analysis and the establishment of a financial plan. The financial plan was drawn up for the period 2007-2010. Essential pillar for the valuation is the determination of discount rates. That is taken in detail in the next step, and we set it using a weighted average cost of capital. The cost of equity, we have identified using the CAPM. Followed by the actual valuation and the final statement of the value of the company Hilti, Ltd.