Equity valuation of Manchester United

Detalhes bibliográficos
Autor(a) principal: Saludes, Xavier Borsot
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/144703
Resumo: The objective of this thesis is to analyse the financial statements of Manchester United and pursue an equity valuation in order to issue a recommendation to buy, sellor hold recommendation as of 30thof June 2021.To do so, the author decided to use the DCF model because Manchester United is not expected to change their debt-to-equity ratio and is a flexible model where all the assumptions about the company can be included. It also allows to do a sensitivity analysis what will help to understand the changes between the inputs and outputs. To support the result of the DCF model, the author has also employed a multiples valuation with the EV/EBITDA multiple. The author got a target price of Manchester United shares of 13.99£through DCF valuation and 12.44£using the multiples valuation, what indicate us that the share is under valued since the market price was 10.94£.
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spelling Equity valuation of Manchester UnitedCorporate financeEquity researchDcf valuationMultiplesDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe objective of this thesis is to analyse the financial statements of Manchester United and pursue an equity valuation in order to issue a recommendation to buy, sellor hold recommendation as of 30thof June 2021.To do so, the author decided to use the DCF model because Manchester United is not expected to change their debt-to-equity ratio and is a flexible model where all the assumptions about the company can be included. It also allows to do a sensitivity analysis what will help to understand the changes between the inputs and outputs. To support the result of the DCF model, the author has also employed a multiples valuation with the EV/EBITDA multiple. The author got a target price of Manchester United shares of 13.99£through DCF valuation and 12.44£using the multiples valuation, what indicate us that the share is under valued since the market price was 10.94£.Brinca, PedroRUNSaludes, Xavier Borsot2022-10-14T11:02:46Z2022-06-172021-12-162022-06-17T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/144703TID:203064224enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:24:32Zoai:run.unl.pt:10362/144703Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:51:42.431373Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Equity valuation of Manchester United
title Equity valuation of Manchester United
spellingShingle Equity valuation of Manchester United
Saludes, Xavier Borsot
Corporate finance
Equity research
Dcf valuation
Multiples
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Equity valuation of Manchester United
title_full Equity valuation of Manchester United
title_fullStr Equity valuation of Manchester United
title_full_unstemmed Equity valuation of Manchester United
title_sort Equity valuation of Manchester United
author Saludes, Xavier Borsot
author_facet Saludes, Xavier Borsot
author_role author
dc.contributor.none.fl_str_mv Brinca, Pedro
RUN
dc.contributor.author.fl_str_mv Saludes, Xavier Borsot
dc.subject.por.fl_str_mv Corporate finance
Equity research
Dcf valuation
Multiples
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Corporate finance
Equity research
Dcf valuation
Multiples
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description The objective of this thesis is to analyse the financial statements of Manchester United and pursue an equity valuation in order to issue a recommendation to buy, sellor hold recommendation as of 30thof June 2021.To do so, the author decided to use the DCF model because Manchester United is not expected to change their debt-to-equity ratio and is a flexible model where all the assumptions about the company can be included. It also allows to do a sensitivity analysis what will help to understand the changes between the inputs and outputs. To support the result of the DCF model, the author has also employed a multiples valuation with the EV/EBITDA multiple. The author got a target price of Manchester United shares of 13.99£through DCF valuation and 12.44£using the multiples valuation, what indicate us that the share is under valued since the market price was 10.94£.
publishDate 2021
dc.date.none.fl_str_mv 2021-12-16
2022-10-14T11:02:46Z
2022-06-17
2022-06-17T00:00:00Z
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dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/144703
TID:203064224
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identifier_str_mv TID:203064224
dc.language.iso.fl_str_mv eng
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instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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