20.500.12556/DKUM-90402 Finančna analiza in vrednotenje podjetja Walmart Inc. Financial analysis and valuation of Walmart Inc. Walmart je večkanalni maloprodajni trgovec. Po prihodkih je ne samo največje maloprodajno podjetje, temveč največje podjetje nasploh. Maloprodajni trg je visoko konkurenčen trg, na katerem deluje širok spekter trgovcev: klasični fizični trgovci, večkanalni ponudniki in specializirani e-trgovci. Trend je usmerjen v razvoj e-poslovanja. Najpomembnejši trg za Walmart predstavlja trg v ZDA. Največji maloprodajni trgovci na ameriškem trgu poleg Walmarta so še Amazon.com, Costco Wholesale, Kroger in The Home Depot. Med tujimi trgi sta najpomembnejši regiji Mehika in Srednja Amerika. Glavna tveganja, s katerimi se sooča Walmart, so strateško, finančno in operativno tveganje. Pri svojem delovanju se vodilni zavezujejo k odgovornemu ravnanju in upoštevanju načel poslovanja, ki so usmerjena v varovanje narave in okolja, sodelovanje z lokalnimi skupnostmi in dobro vodenje podjetja. V financah je pomembno vprašanje, koliko je sredstvo ali podjetje vredno. Vrednotenje je pomembna vloga na različnih področjih v financah, pri upravljanju portfelja, pri nakupih in prevzemih podjetij ter pri vodenju podjetja. Obstajajo trije pristopi vrednotenja podjetja, vrednotenje z diskontiranjem prihodnjih denarnih tokov, relativno vrednotenje in vrednotenje z realnimi opcijami. Pri relativnem vrednotenju obstajata metoda primerjav in metoda, ki temelji na temeljnih vrednostih. Metoda primerjav temelji na uporabi multiplikatorjev. Multiplikatorji se delijo na multiplikatorje dobička, multiplikatorje knjigovodske vrednosti, multiplikatorje prihodkov in sektorske multiplikatorje. Podjetje Walmart smo vrednotili relativno z multiplikatorji glede na skupino primerljivih podjetij. V skupino primerljivih podjetij smo uvrstili podjetja Amazon, Costco Wholesale, Targer in Kroger. Najbližjo oceno vrednosti glede na tržno ceno delnice Walmarta je dal multiplikator P/E. Walmart is an omni-channel retailer. It is the largest retail company in the world by revenue, and also the largest company overall. The retail market is a highly competitive market with a wide range of retailers, traditional brick-and-mortar retailers, omni-channel retailers and retailers specialized in e-commerce. The trend is increasingly moving towards the development of e-business. The most important market for Walmart is the U.S. market. In addition to Walmart, the largest retailers in the US market are Amazon.com, Costco Wholesale, Kroger and The Home Depot. Among foreign markets, the most important region is Mexico and Central America. The main risks faced by Walmart are strategic, financial and operational risk. In its operations, the leadership is committed to business principles aimed at protecting nature and the environment, cooperating with local communities, and good corporate governance. In finance, an important question is how much an asset or a company is worth. Valuation plays a significant role in various areas of finance, including portfolio management, mergers and acquisitions, and corporate management. There are three main approaches to company valuation, discounted cash flow valuation, relative valuation, and contingent claim valuation. In relative valuation, there are two methods, the method based on comparables and the method based on fundamentals. The method based on comparables relies on the use of multiples. Multiples are divided into earnings multiples, book value multiples, revenue multiples and sector-specific multiples. We valued Walmart relatively using multiples based on a group of comparable companies. The group of comparable companies included Amazon, Costco Wholesale, Target, and Kroger. The closest estimate of value relative to Walmart's market share price was provided by the P/E multiple. Walmart vrednotenje podjetja relativno vrednotenje multiplikatorji Walmart business valuation relative valuation multiples true true false L. Krajšek Slovenski jezik Angleški jezik Magistrsko delo/naloga 2024-09-03 03:04:03 2024-10-16 12:41:42 2024-10-17 03:10:09 0000-00-00 00:00:00 2024 0 Maribor 0 0000-00-00 NiDoloceno NiDoloceno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 658.14/.17 211784963 MAG_Krajsek_Luka_2024.pdf MAG_Krajsek_Luka_2024.pdf 1 72A19C530416BDFEBD81737E6ED272BC ee0a7d9c0cd9d1ba9d3766da83ec84636159d040abe9d6d60778017298303b5c f13c977f-7f16-11ef-8e23-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=186041 Ekonomsko-poslovna fakulteta 0 0 0