[PDF] Top 20 Equity valuation : Eurocash Group

... and equity multiples but the most used within these two categories are EV/EBITDA and price-to-earnings (PER), ...asset valuation therefore to find equity values we must deduct net ... See full document

... in equity valuation field. Then I choose to value the equity of Sotipapier using two main approaches, the DCF and the relative ...accurate valuation method, we can see that small changes in ... See full document

... peer group construction criteria and by the outlying ...relative valuation; secondly it includes NOPLAT in calculations, eliminating the drawback of DDM, which is based on dividends ... See full document

... § The fact that the transaction multiples are lower than the trading multiples is rooted in two reasons: i) buyers are not able and willing to pay multiples as high as the market is ii) the trading multiples are more ... See full document

... Relative evaluation determines the value of an asset based on the value of similar assets on the market. This means that the company o ’t e alued ased o hat it has o ho it performs but rather on how similar companies on ... See full document

... Often, there are firms that are not easily comparable and the peer group increases noise because the companies are much bigger/smaller comparing to the company concerned. In the case of media companies, the ... See full document

... specific valuation, companies shouldn’t use a great number of different methods, since the more approaches companies use, the weaker the final message ...all valuation models should be mathematically ... See full document

... first group this decrease is positive, paying less for oil means they have an increase in income, reverting the situation above, consumers can spend more in other things, firms can invest more, and so ... See full document

... multiples’ valuation performed by ...segment’s valuation is based on book and market ...this valuation technique, 78€/share, is in-between the values we got for our multiples’ valuation with ... See full document

... According to (Koller, et al., 2010) one should first consider peers operating in the same industry, as they will have similar risk profiles and consequently similar costs of capital. Then, a second sort by growth rates ... See full document

... Relative Valuation is the one that is most used among analysts and investors to value a ...whole valuation on the multiples of the company’s considered to be in the peer group of the company under ... See full document

... peer group I run a cluster analysis with ...the group of companies provided by Bloomberg as Inditex’s peers, which are sixteen ...this group the companies would be chosen by means of four different ... See full document

... Relative Valuation took ...peer group chosen, the Price to Earnings multiple and the Enterprise Value / EBITDA multiple were used and, with both multiples, the values found for the base case were quite ... See full document

... peer group, a good starting point is examining companies in the same industry, as research has shown that a the selection of peer group based on firms from the same industry improves the performance across ... See full document

... FCA Group in 2014, Ferrari initiated its public offering in October 2015 with a special purpose vehicle (SPV) that held 100% of Ferrari ...FCA Group. In order to restructure its capital, FCA Group ... See full document

... peer group would have to follow this ...peer group but after a deep research on company’s financial information, Nike, Adidas, VF Corp and Lululemon were the companies ... See full document

... Relatives Valuation, is a valuation technique that is not based in complex, discounted valuations, but a rather straightforward process of comparing common drivers of the company with which price the market ... See full document

... FCA Group announced its intention to separate Ferrari ...Ferrari group holding a 100% interest in Ferrari ...a group of ...the equity interests in Predecessor Ferrari held by FCA, to the ... See full document

... Lie and Lie (2002) asserts that to estimate a firm’s value, this method requires computing multiples for a group of comparable firms and then estimate value based on those benchmark multiples. Accordingly, this ... See full document

... the Group has been expanding its international presence, mainly with an emphasis on Central- Eastern Europe countries (Czech Republic, Slovakia, Hungary, ... See full document