Ocena vrednosti podjetja Muflon d.o.o.

Kaligaro, Dejan (author), Dimovski, Vlado (mentor)

Cilj magistrskega dela je določiti tržno vrednost 100 % lastniškega deleža podjetja Muflon d.o.o. na dan 31.12.2017 z uporabo strokovno analitičnega dela in poglobljene analize panoge, v kateri deluje podjetje, z analizo trendov finančne rasti in razvoja trgov v panogi na lokalni in globalni ravni ter z analizami in primerjavo podjetja z njegovimi najbližjimi konkurenti. Ob pregledu strokovne literature smo ugotovili, da je najprimernejša metoda za ocenjevanje podjetja Muflon d.o.o. metoda diskontiranih denarnih tokov pri kateri je ključno, da na podlagi preteklih poslovnih rezultatov podjetja, z analizo trendov v panogi v kateri deluje podjetje in s primerjavo z njegovimi najbližjimi konkurenti, čim natančneje napovemo prihodnje proste denarne tokove ocenjevanega podjetja. Pri tem se je potrebno zavedati, da ne glede na natančnost vseh vhodnih podatkov metoda še vedno dopušča veliko mero subjektivnosti, kar privede do različnih ocen vrednosti med različnimi ocenjevalci. Vrednost podjetja Muflon d.o.o. na dan 31.12.2017 smo ocenili na 6.263.406 EUR, z razponom vrednosti med 5.840.920 EUR in 6.806.888 EUR.

• Language: Slovenian
• Keywords: ekonomika, vrednotenje podjetij, denarni tokovi, DCF, metoda diskontiranih denarnih tokov, Slovenija
• Work type: Master's thesis/paper
• Organization: BF - Biotechnical Faculty
• Year: 2019
• PID: 20.500.12556/RUL-111556
• COBISS.SI-ID: 4307592
• Publication date in RUL: 03.10.2019

Secondary language

• Language: English
• Title: Business valuation of company Muflon d.o.o.

Abstract

The aim of the master's thesis is to determine the market value of 100 % of the equity of Muflon d.o.o. peer December 31, 2017, by using expert analytical work and in-depth analysis of the industry in which the company operates, by analyzing the trends of financial growth and development of the industry on locally and globally level, and by analyzing and comparing the company with its closest competitors. Upon reviewing the professional literature, we found that the most appropriate method for evaluating Muflon d.o.o. is discounted cash flow method, in which it is crucial to predict the future free cash flows of the evaluated company as accurately as possible, based on the past business results of the company, by analyzing the trends in the industry in which the company operates and by comparing it with its closest competitors. However, it should be borne in mind that, regardless of the accuracy of all input data, the method still allows for a large measure of subjectivity, which leads to different valuations between different valuers. According to our calculations, the estimated value of a company Muflon d.o.o. peer 31 December 2017 is 6,263,406 EUR with a value range between 5,840,920 EUR and 6,806,888 EUR.

• Keywords: economics, business valuation, cash flow, DCF, discounted cash flow method, Slovenia