Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/7716 |
Resumo: | The objective of this Dissertation is to obtain a price per share of the Portuguese construction company, Mota-Engil, SGPS, S.A. Equity valuation is important for a variety of reasons. One of the most important reasons is that equity valuation of a company provides an analysis that potential buyers or sellers of stocks of that respective company take into consideration. The recent trend in the last years of mergers and acquisitions of companies also reinforces the importance of equity valuation in the current business environment. Inevitably, equity valuation of a company is subjective by nature, depending on the assumptions considered to perform the valuation. Despite that fact, this Dissertation’s objective is to perform an equity valuation of Mota-Engil as accurate as possible. A good valuation has to be technically correct, based on solid assumptions that translate the reality of the company and it has to take into consideration the different activities of the firm being evaluated, as well as the future operational targets of the company. In the particular case of Mota-Engil, it is essential to differentiate the different activities of the company and evaluating each one of them individually, otherwise the equity value of the company would be incorrect. Following this line of reasoning, the evaluation of Mota-Engil conducted in this Dissertation consisted in a sum of all the different activities of the company separately, using the Discounted Cash Flow approach. The equity value of Mota-Engil estimated in this Dissertation tryies to reflect the reality of the company, despite considering that many variables might influence the correcteness of this valuation process. In the end, a comparison between this Dissertation and Millenium Investment Banking equity valuation of Mota-Engil was made. |
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Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuationThe objective of this Dissertation is to obtain a price per share of the Portuguese construction company, Mota-Engil, SGPS, S.A. Equity valuation is important for a variety of reasons. One of the most important reasons is that equity valuation of a company provides an analysis that potential buyers or sellers of stocks of that respective company take into consideration. The recent trend in the last years of mergers and acquisitions of companies also reinforces the importance of equity valuation in the current business environment. Inevitably, equity valuation of a company is subjective by nature, depending on the assumptions considered to perform the valuation. Despite that fact, this Dissertation’s objective is to perform an equity valuation of Mota-Engil as accurate as possible. A good valuation has to be technically correct, based on solid assumptions that translate the reality of the company and it has to take into consideration the different activities of the firm being evaluated, as well as the future operational targets of the company. In the particular case of Mota-Engil, it is essential to differentiate the different activities of the company and evaluating each one of them individually, otherwise the equity value of the company would be incorrect. Following this line of reasoning, the evaluation of Mota-Engil conducted in this Dissertation consisted in a sum of all the different activities of the company separately, using the Discounted Cash Flow approach. The equity value of Mota-Engil estimated in this Dissertation tryies to reflect the reality of the company, despite considering that many variables might influence the correcteness of this valuation process. In the end, a comparison between this Dissertation and Millenium Investment Banking equity valuation of Mota-Engil was made.Martins, José Carlos TudelaVeritati - Repositório Institucional da Universidade Católica PortuguesaCardoso, Pedro David Gonçalves2012-02-01T14:19:08Z201120112011-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/7716enginfo: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:RCAAP2023-09-26T01:40:34Zoai:repositorio.ucp.pt:10400.14/7716Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:07:40.451403Repositório 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 Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
title |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
spellingShingle |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation Cardoso, Pedro David Gonçalves |
title_short |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
title_full |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
title_fullStr |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
title_full_unstemmed |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
title_sort |
Equity valuation of Mota-Engil S.G.P.S., S.A. : case study on equity valuation |
author |
Cardoso, Pedro David Gonçalves |
author_facet |
Cardoso, Pedro David Gonçalves |
author_role |
author |
dc.contributor.none.fl_str_mv |
Martins, José Carlos Tudela Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Cardoso, Pedro David Gonçalves |
description |
The objective of this Dissertation is to obtain a price per share of the Portuguese construction company, Mota-Engil, SGPS, S.A. Equity valuation is important for a variety of reasons. One of the most important reasons is that equity valuation of a company provides an analysis that potential buyers or sellers of stocks of that respective company take into consideration. The recent trend in the last years of mergers and acquisitions of companies also reinforces the importance of equity valuation in the current business environment. Inevitably, equity valuation of a company is subjective by nature, depending on the assumptions considered to perform the valuation. Despite that fact, this Dissertation’s objective is to perform an equity valuation of Mota-Engil as accurate as possible. A good valuation has to be technically correct, based on solid assumptions that translate the reality of the company and it has to take into consideration the different activities of the firm being evaluated, as well as the future operational targets of the company. In the particular case of Mota-Engil, it is essential to differentiate the different activities of the company and evaluating each one of them individually, otherwise the equity value of the company would be incorrect. Following this line of reasoning, the evaluation of Mota-Engil conducted in this Dissertation consisted in a sum of all the different activities of the company separately, using the Discounted Cash Flow approach. The equity value of Mota-Engil estimated in this Dissertation tryies to reflect the reality of the company, despite considering that many variables might influence the correcteness of this valuation process. In the end, a comparison between this Dissertation and Millenium Investment Banking equity valuation of Mota-Engil was made. |
publishDate |
2011 |
dc.date.none.fl_str_mv |
2011 2011 2011-01-01T00:00:00Z 2012-02-01T14:19:08Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/masterThesis |
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masterThesis |
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publishedVersion |
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http://hdl.handle.net/10400.14/7716 |
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http://hdl.handle.net/10400.14/7716 |
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eng |
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eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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