Valuation: Avaliação a valor de mercado de uma indústria metalúrgica do interior do Rio Grande do Sul
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| Main Author: | |
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| Publication Date: | 2023 |
| Format: | Bachelor thesis |
| Language: | por |
| Source: | Repositório Institucional da UPF |
| Download full: | https://repositorio.upf.br/handle/123456789/7067 |
Summary: | The present work aims to calculate the market value of the company M.M, a metallurgical industry in Rio Grande do Sul, through valuation, specifically, using the Discounted Cash Flow (DCF) technique. The accounting data were taken from the balance sheet and income statement for the years 2018 to 2022. Then, projections were made for the years 2023 to 2027, based on the performance of previous years and mainly, on the expected growth perspective by the partners. The research is classified as a case study, which uses real data or events to solve a problem in a given context. In this case, the study problem is characterized by determining the estimated value of a metallurgical industry. To determine the estimated valuation, first, it was necessary to carry out projections, both macroeconomic and with the company's existing data, establish the value of capex and working capital to obtain the necessary data for cash flow projection. It was also necessary to determine the beta value, based on two companies in the same sector listed on the stock exchange, list the market premium, made available by Ibovespa and calculate the percentage of third-party capital. Then, with the value of the beta, the market premium and the cost of third-party capital, it was possible to calculate the WACC. With the WACC value, the growth projection determined for the period and the growth rate stipulated for perpetuity, it was possible to find the total cash flows at present value. After finding the present value of cash flows, the value available in the cash and cash equivalents account was added and the value of loans and financing was discounted, thus finding the estimated value of the company, of R$43,104,940 million. It is important to highlight that the assessment of market value is made based on the organization's expectations, and is not based solely on quantitative processes |