The primary purpose of this dissertation is to develop the arguments for reporting directly on a company's cash flows in its published financial statements. Specifically, the Free Cash Flow (FCF) model of economist Joel Stern is analyzed and critiqued as a basis for a revised reporting scheme.

Globally, there are significant quantities of natural gas reserves that lie economically or physically stranded from markets. Options to monetize such reserves include Gas to Liquids (GTL) and Liquefied Natural Gas (LNG) technologies. GTL is a unique monetization option that brings natural gas products to crude oil markets. This technology is commercially immature, appears to have attractive market potential, requires substantial capital investments, and has uncertain operating costs and revenue generation. LNG is a more established monetization option. Project economics for the two technologies are reviewed, as well as literature evaluating such for either or both. Discounted cash flow models are studied for two project scenarios, and results are discussed and compared. The modeling effort seeks to inform the decision to invest in GTL or LNG for the monetization of a stranded gas reserve. / text

The diploma thesis is focused on testing of effectiveness of selected methods of fundamental analysis on a sample of Russian stocks. The introductory part lists briefly different ways of describing changes of stock prices. The second chapter explains key principles of fundamental analysis with focus on models which are used for determination of intrinsic value of stocks, and the necessary inputs. The following chapter describes development of Russian stock market in last two decades. The last chapter includes stock evaluation of nine Russian companies at the end of 2007 via DCF equity model and dividend discount models. Effectiveness of this analysis is then evaluated by comparison of particular stock return with return of the market portfolio represented by the MICEX index during the three-year time.

The diploma thesis deals with the effectiveness of chosen fundamental analysis valuation methods on a sample of stocks. The sample consists of stocks traded on the Prague Stock Exchange and on the New York Stock Exchange. The Czech part of the sample consists of stocks of ČEZ, Erste Group Bank, Komerční banka, Philip Morris ČR and Telefónica O2. The American part of the sample includes stocks of Coca Cola, General Electric, Intel, Southern Company and Bank of America. These stocks are valued by dividend discount models and cash-flow models stepwise to the end of the years 2005 and 2006. As regards the dividend models, the Gordon model, the three-stage model and the H-model are applied whereas within the cash-flow models the DCF equity method was chosen. The effectiveness of the valuation process was subsequently tested over the course of three years by comparing the particular stock returns and the returns of the market portfolio represented by market index. The evaluation of effectiveness is then done in terms of the absolute, the relative and the portfolio effectiveness.

Goal of thesis "Valuation of company Auto Koutek, s.r.o." is to determine the value of company for shareholder on 31st December 2009 that should take place in evaluating of company's managers. Thesis is divided in theoretical part, which summarize processes and methods used in valuation of company, and practical part. Firstly practical part analyzes company's performance and its surroundings. This part is followed by financial plan of company for years from 2010 to 2017. Valuation DCF models are than based on this financial plans. Value of company is than analyzed with sensitivity analysis and by Monte Carlo simulation that are trying to analyze uncertainty connected with calculated value of company.

The content of this thesis is the fundamental analysis of stocks whose bases are practically focused on the company New World Resources Plc. In the theoretical part of the thesis are presented approaches to the capital markets generally used to search for undervalued stocks and when appropriate to their business. The detail is given to the specifics of fundamental analysis. These data are used in the practical part of the work at different levels of fundamental analysis. The main part consists of the actual determination of the intrinsic value of the shares of New World Resources Plc on whose basis the work mentioned specific investment recommendation.

This thesis is dedicated to fundamental analysis of the company ČEZ and tries to assess whether it is appropriate in the circumstances, to invest in the company or not. To determine the intrinsic value of a share in this work the use of dividend discount models, cash flow, profit models and other. Assessing the economic situation is then performed based on various ratios of the company's performance.

The aim of this master`s thesis is to perform fundamental analysis and determine the intrinsic value of Pfizer Inc share. There are three main parts of fundamental analysis - global, industry and company analysis, which includes a financial analysis. Using the chosen methods the value of shares is determined. The calculated intrinsic value is then compared to the market price and the investment recommendation is proposed.