Equity research: group Inditex

Detalhes bibliográficos
Autor(a) principal: Rebelo, Rita Tiago
Data de Publicação: 2013
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/6908
Resumo: A company valuation is a complex process that requires a rich set of assumptions from the analyst – understanding the mechanisms behind valuation is crucial to make value-added decisions. The aim of this thesis is to value Inditex, one of the world´s largest fashion retailers. For this end, different valuation methodologies are described, used and compared, (the reasons concerning them will be explained), combining the academic approach with the most used practices in the valuation market. The equivalence between different discounted cash flow methods (such as the weighted average cost of capital, the adjusted present value, and the flow to equity) is an element of pedagogical interest in this master’s final work. Finally, the valuation result obtained will be subject to sensitivity analysis, to comparison with the traded market value, and comparison with the results obtained from a well-known Portuguese investment bank (Banco Português de Investimento), evidencing the main differences between both analysis.
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spelling Equity research: group InditexValuationCash-flowFirm valueEquity valueFinançasA company valuation is a complex process that requires a rich set of assumptions from the analyst – understanding the mechanisms behind valuation is crucial to make value-added decisions. The aim of this thesis is to value Inditex, one of the world´s largest fashion retailers. For this end, different valuation methodologies are described, used and compared, (the reasons concerning them will be explained), combining the academic approach with the most used practices in the valuation market. The equivalence between different discounted cash flow methods (such as the weighted average cost of capital, the adjusted present value, and the flow to equity) is an element of pedagogical interest in this master’s final work. Finally, the valuation result obtained will be subject to sensitivity analysis, to comparison with the traded market value, and comparison with the results obtained from a well-known Portuguese investment bank (Banco Português de Investimento), evidencing the main differences between both analysis.III Rita Tiago Rebelo II. RESUMO A avaliação de empresas é um processo complexo que requer a definição de um vasto conjunto de pressupostos pelo analista. A compreensão dos mecanismos de suporte de uma avaliação é fundamental para que possam ser tomadas decisões de valor acrescentado. O objectivo desta tese é avaliar o Grupo Inditex, um dos maiores retalhistas de moda do mundo. Para este fim foram descritas, analisadas, aplicadas e comparadas diferentes metodologias de avaliação (as razões subjacentes a cada uma serão apresentadas), combinando a abordagem académica com as práticas mais utilizadas no mercado de avaliações. A equivalência existente entre os diversos métodos de discounted cash flow (tais como o weighted average cost of capital, o adjusted present value, e o flow to equity) é um elemento de interesse pedagógico neste trabalho final de mestrado. Por último, o resultado obtido da avaliação será sujeito a análises de sensibilidade, a comparações com o valor de mercado e com os resultados obtidos por um conhecido banco de investimento Português (Banco Português de Investimento), evidenciando as principais diferenças entre ambas as análises.2014-04-11T14:33:30Z2013-01-01T00:00:00Z20132013-04info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/6908engRebelo, Rita Tiagoinfo: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:RCAAP2023-11-09T17:45:19Zoai:repositorio.iscte-iul.pt:10071/6908Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:21:38.669985Repositório 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 research: group Inditex
title Equity research: group Inditex
spellingShingle Equity research: group Inditex
Rebelo, Rita Tiago
Valuation
Cash-flow
Firm value
Equity value
Finanças
title_short Equity research: group Inditex
title_full Equity research: group Inditex
title_fullStr Equity research: group Inditex
title_full_unstemmed Equity research: group Inditex
title_sort Equity research: group Inditex
author Rebelo, Rita Tiago
author_facet Rebelo, Rita Tiago
author_role author
dc.contributor.author.fl_str_mv Rebelo, Rita Tiago
dc.subject.por.fl_str_mv Valuation
Cash-flow
Firm value
Equity value
Finanças
topic Valuation
Cash-flow
Firm value
Equity value
Finanças
description A company valuation is a complex process that requires a rich set of assumptions from the analyst – understanding the mechanisms behind valuation is crucial to make value-added decisions. The aim of this thesis is to value Inditex, one of the world´s largest fashion retailers. For this end, different valuation methodologies are described, used and compared, (the reasons concerning them will be explained), combining the academic approach with the most used practices in the valuation market. The equivalence between different discounted cash flow methods (such as the weighted average cost of capital, the adjusted present value, and the flow to equity) is an element of pedagogical interest in this master’s final work. Finally, the valuation result obtained will be subject to sensitivity analysis, to comparison with the traded market value, and comparison with the results obtained from a well-known Portuguese investment bank (Banco Português de Investimento), evidencing the main differences between both analysis.
publishDate 2013
dc.date.none.fl_str_mv 2013-01-01T00:00:00Z
2013
2013-04
2014-04-11T14:33:30Z
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