Equity valuation : Philip Morris International

Detalhes bibliográficos
Autor(a) principal: Fonseca, Francisco Machado Pereira da
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Texto Completo: http://hdl.handle.net/10400.14/29836
Resumo: This dissertation illustrates the equity valuation of Philip Morris International (PMI), one of the world-leading companies operating in the tobacco industry, that is traded in the New York Stock Exchange. Regarding the valuation process, two techniques were executed. Starting with the main one, the DCF-model, projected a price per share of $88.9. On a complimentary basis, a relative valuation was executed to better understand the market perception regarding PMI’s value. These valuations were followed by sensitive analyses, with the purpose of stress-testing the assumptions behind the DCF-model. Lastly, the results were benchmarked with a PMI valuation executed by Barclays in December 2019.
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spelling Equity valuation : Philip Morris InternationalEquity valuationPhilip Morris InternationalTobacco industryDCF-modelRelative valuationAvaliaçãoIndústria tabaqueiraFluxos de caixa descontadosAvaliação relativaThis dissertation illustrates the equity valuation of Philip Morris International (PMI), one of the world-leading companies operating in the tobacco industry, that is traded in the New York Stock Exchange. Regarding the valuation process, two techniques were executed. Starting with the main one, the DCF-model, projected a price per share of $88.9. On a complimentary basis, a relative valuation was executed to better understand the market perception regarding PMI’s value. These valuations were followed by sensitive analyses, with the purpose of stress-testing the assumptions behind the DCF-model. Lastly, the results were benchmarked with a PMI valuation executed by Barclays in December 2019.Martins, José Carlos TudelaVeritatiFonseca, Francisco Machado Pereira da2020-01-3020202020-01-30T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/29836urn:tid:202440125enginfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-13T10:49:15Zoai:repositorio.ucp.pt:10400.14/29836Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T01:37:47.964449Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Equity valuation : Philip Morris International
title Equity valuation : Philip Morris International
spellingShingle Equity valuation : Philip Morris International
Fonseca, Francisco Machado Pereira da
Equity valuation
Philip Morris International
Tobacco industry
DCF-model
Relative valuation
Avaliação
Indústria tabaqueira
Fluxos de caixa descontados
Avaliação relativa
title_short Equity valuation : Philip Morris International
title_full Equity valuation : Philip Morris International
title_fullStr Equity valuation : Philip Morris International
title_full_unstemmed Equity valuation : Philip Morris International
title_sort Equity valuation : Philip Morris International
author Fonseca, Francisco Machado Pereira da
author_facet Fonseca, Francisco Machado Pereira da
author_role author
dc.contributor.none.fl_str_mv Martins, José Carlos Tudela
Veritati
dc.contributor.author.fl_str_mv Fonseca, Francisco Machado Pereira da
dc.subject.por.fl_str_mv Equity valuation
Philip Morris International
Tobacco industry
DCF-model
Relative valuation
Avaliação
Indústria tabaqueira
Fluxos de caixa descontados
Avaliação relativa
topic Equity valuation
Philip Morris International
Tobacco industry
DCF-model
Relative valuation
Avaliação
Indústria tabaqueira
Fluxos de caixa descontados
Avaliação relativa
description This dissertation illustrates the equity valuation of Philip Morris International (PMI), one of the world-leading companies operating in the tobacco industry, that is traded in the New York Stock Exchange. Regarding the valuation process, two techniques were executed. Starting with the main one, the DCF-model, projected a price per share of $88.9. On a complimentary basis, a relative valuation was executed to better understand the market perception regarding PMI’s value. These valuations were followed by sensitive analyses, with the purpose of stress-testing the assumptions behind the DCF-model. Lastly, the results were benchmarked with a PMI valuation executed by Barclays in December 2019.
publishDate 2020
dc.date.none.fl_str_mv 2020-01-30
2020
2020-01-30T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/29836
urn:tid:202440125
url http://hdl.handle.net/10400.14/29836
identifier_str_mv urn:tid:202440125
dc.language.iso.fl_str_mv eng
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dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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