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Title:VREDNOTENJE HITRO RASTOČIH PODJETIJ S POMOČJO MULTIPLIKATORJEV NA PRIMERU AMAZON.COM
Authors:ID Kocbek, Borut (Author)
ID Mlinarič, Franjo (Mentor) More about this mentor... New window
Files:.pdf BKocbek_Diploma_final.pdf (7,48 MB)
MD5: F97F2EFEC2975DDF963E28B9CEA05048
 
Language:Slovenian
Work type:Undergraduate thesis
Typology:2.11 - Undergraduate Thesis
Organization:EPF - Faculty of Business and Economics
Abstract:V diplomskem delu obravnavamo temo vrednotenja delnic hitro rastočih podjetij s pomočjo relativnih metod vrednotenja t. i. multiplikatorjev. Vrednotenje s pomočjo multiplikatorjev je v praksi ena izmed najpogosteje uporabljenih metod ocenjevanja vrednosti podjetja. Ob pravilni izvedbi lahko zaradi svoje preprostosti hitro ugotovimo, ali je tržna cena delnice v primerjavi s primerljivimi podjetji ustrezna. Pri takšnem načinu vrednotenja sta ključnega pomena izbira nabora podjetij, s katerimi bomo izbrano podjetje primerjali in izbor spremenljivk, s pomočjo katerih bomo izračunali vrednosti za primerjavo. To še posebej velja za hitro rastoča podjetja, pri katerih se vplivne vrednosti hitro spreminjajo in se vrednost cene delnice oblikuje na podlagi pričakovanih rezultatov v prihodnosti. Cilj diplomskega dela je prikazati, da lahko z uporabo metode relativnega vrednotenja s pomočjo multiplikatorjev, kljub pomanjkanju ustreznih podatkov za vrednotenje in povrženosti hitrim spremembam, s katerimi se soočamo pri hitro rastočih podjetjih, izbrano podjetje vseeno ustrezno vrednotimo. V primeru izbranega podjetja Amazon.com, lahko to predpostavko delno potrdimo. Ob primernem tolmačenju rezultatov, lahko velikim odstopanjem med izračunanimi vrednostmi multiplikatorjev navkljub, razberemo konkurenčne prednosti in slabosti podjetja ter se na podlagi lastnih preferenc odločimo, katerim pripisati večjo težo, zato si premišljena uporaba multiplikatorjev zasluži mesto v naboru metod za vrednotenje hitro rastočih podjetij.
Keywords:multiplikator, hitro rastoča podjetja, vrednotenje, Amazon.com, delnice
Place of publishing:Maribor
Publisher:[B. Kocbek]
Year of publishing:2016
PID:20.500.12556/DKUM-58806 New window
UDC:336.76
COBISS.SI-ID:12720668 New window
NUK URN:URN:SI:UM:DK:F3DLHGLL
Publication date in DKUM:23.03.2017
Views:1743
Downloads:340
Metadata:XML DC-XML DC-RDF
Categories:EPF
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Secondary language

Language:English
Title:MULTIPLE BASED VALUATION OF FAST-GROWING COMPANIES - THE CASE OF AMAZON.COM
Abstract:The thesis is dealing with the topic of multiple based valuation of fast-growing companies. Evaluation using multiples is in practice one of the most commonly used methods of assessing the value of a company. Due to their simplicity, we can quickly determine whether the market price, in comparison with the corresponding companies, is appropriate. The selection of comparable companies with which we compare the chosen company and the selection of variables, which will be used to calculate values for comparison, are crucial for this kind of evaluation. This is especially true for fast-growing companies, in which influential values are changing rapidly and the value of the share price is formed on the basis of expected future results. The aim of the thesis is to show that by using the method of multiple based relative valuation the selected company can be properly evaluated, despite the lack of adequate data for evaluation and beeing subjected to the rapid changes a fast-growing company is faced with. In the case of the selected company - Amazon.com, this assumption can be partially confirmed. In spite of significant discrepancies between the calculated values of multipliers, with the right interpretation of the results, we can figure out the competitive strengths and weaknesses of the chosen company and based on our own preferences decide, which one we will attribute with greater importance. A well measured use of multiples deserves a place in the set of methods, used for valuation of high-growth companies.
Keywords:multiple, fast-growing companies, valuation, Amazon.com, shares


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