Comparison of DCF and EP valuation methods
Valuations are an integral tool in the world of finance. This thesis explores two different methods to valuate companies. Both methods were applied on two different companies in the small economy of Iceland at turbulent times. The methods chosen were a discounted cash flow method and a economic prof...
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| Format: | Thesis |
| Language: | English |
| Published: |
2022
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| Online Access: | http://hdl.handle.net/1946/42084 |
| Summary: | Valuations are an integral tool in the world of finance. This thesis explores two different methods to valuate companies. Both methods were applied on two different companies in the small economy of Iceland at turbulent times. The methods chosen were a discounted cash flow method and a economic profit method. The results of both methods were examined using a sensitivity analysis. The comparison of these two models proved that they give the same result in the form of equal value but the approach and methodology are different. Verðmöt eru mikilvæg tól í fjármálaheiminum. Í þessari meistararitgerð eru rannsakaðar tvær aðferðir sem notaðar eru við verðmöt fyrirtækja. Þessum aðferðum var beitt á tvö íslensk skráð fyrirtæki á miklum óvissutímum. Aðferðirnar sem urðu fyrir valinu voru núvirt sjóðstreymisaðferð og aðferð við að finna hagrænan virðisauka (e. Economic Profit). Niðurstöður aðferðanna tveggja voru auk þess metnar með næmnigreiningu. Samanburður aðferðanna sýndi að þær gáfu sama lokavirði en nálgunin og aðferðin við að finna niðurstöðuna var ólík. |
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