Global ETD Search

1	Relative and Discounted Cash Flow Valuation on Swedish Listed Companies : How applicable are the methods to companies in different industries? Otterberg, Simon, Zetterberg, August January 2019 (has links) The purpose of this thesis is to look at how the two widely used valuation approaches Free Cash Flow to Firm and Relative valuation can contribute to the explanation of market prices of shares. The study also aims to investigate if it is possible to find any significant differences between industries, while using the two valuation methods. There are a large number of models that are used to value assets and corporations, which have been used for a long time in the banking sector and similar contexts. It is widely known that a single valuation method or model which could predict a future stock price is hard to find or might even not exist. The study uses a quantitative method, in which we evaluated 36 Swedish companies, to be able to draw conclusions about the two valuation approaches. Our results suggest that the calculated prices obtained from the two methods correlate with the market price of the share, and that the result differ between different industries. corporate finance finance valuation discounted cash flow multiples relative valuation free cash flow to firm Economics and Business Ekonomi och näringsliv
2	Relative or Discounted Cash Flow Valuation on the Fifty Largest US-Based Corporations on Nasdaq : Which of these valuation methods provides the most accurate valuation forecast? Öhrner, Marcus, Öhman, Otto January 2023 (has links) The topic of this Bachelor Thesis is “Which of these valuation methods provides the most accurate valuation forecast”. Assuming that the year is 2020, the goal of this thesis is to forecast the future stock prices of the fifty largest US-based companies on the Nasdaq stock exchange for 2021 and 2022. By using a quantitative method and looking ten years back at historical data. We determine which valuation method provides the most accurate stock price when conducted in a non-sector specific sample by comparing predicted prices to actual stock prices and discussing the results. There are several ways to evaluate a company and the ones being utilized in this thesis are the discounted cash flow valuation method, the price-to-earnings ratio method (equity multiple), and enterprise value to enterprise value before interest, tax, and depreciation (firm multiple). Our results show that when reviewing the valuations of multiple companies in different sectors the relative valuation methods provide better predictions with EV/EBITDA rather than the discounted cash flow method. This thesis provides the reader with a comprehensive overview of these different valuation methods and their effectiveness in providing valuation forecasts. The result of this thesis is beneficial for policymakers, investors, and financial analysts when forecasting future stock prices. Discounted Cash Flow Dividend Discount Model Earnings Before Interest and Taxes Earnings Before Interest Taxes Depreciation and Amortization Depreciation and Amortization ratio Free Cash Flow to Firm Free Cash Flow to Equity Mean Absolute Error Price-to-Earnings Ratio PricewaterhouseCoopers Riskless Rate Root Mean Square Error Return on Capital United States Weighted Average Cost of Capital Business Administration Företagsekonomi

Search results

Relative and Discounted Cash Flow Valuation on Swedish Listed Companies : How applicable are the methods to companies in different industries?

Relative or Discounted Cash Flow Valuation on the Fifty Largest US-Based Corporations on Nasdaq : Which of these valuation methods provides the most accurate valuation forecast?