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 小公司价值评估和股份价值评估 |
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小公司价值评估和股份价值评估 -- alphafly - (335 Byte) 2007-5-05 周六, 11:52 (1978 reads) |
PBIRD
头衔: 海归中校
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加入时间: 2004/05/14
文章: 352
海归分: 56053
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作者：PBIRD 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
There are several ways to value the company:
(1) You can builid up a pro forma financial statement, calculate the cash flow and terminal value, then discount back to get the present value of the firm. Of course you need to take away the outstanding debt value to get your equity value.
(2) You can find comparable firms (better to have recent transactions) to check their EBITDA multiples, or P/Sales, or P/E, etc, to figure the enterprise value out (It is especially useful when you value a firm having negative net income, such as startups.
(3) You can use some so called APV method (mostly used in academia) to figure out when you have debt outstanding.
(4) Liquidity method: you calculate the enterprise value assuming that you want to liquidify everything, e.g. equippments, inventory, etc. Mostly used for those mature firms, such as utility firms.
Most investment banks do these kinds of valuation everyday, but I am not sure whether you need the expensive service from investment banks. Maybe big 4 firms can also do this too... 
Hope it is helpful!
作者：PBIRD 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 小公司价值评估和股份价值评估 -- alphafly - (335 Byte) 2007-5-05 周六, 11:52 (1978 reads) - My 2 cents -- PBIRD - (1078 Byte) 2007-5-06 周日, 11:05 (504 reads)
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