Equity valuation : the Boeing Company

Detalhes bibliográficos
Autor(a) principal: Castro, João Pedro Rocha Alves Alvim de
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/31320
Resumo: This Master Thesis object is to place a value for the Equity of The Boeing Company (BA), one of the World’s largest aerospace and defense company’s. Out of the set of valuation methodologies, the Discounted Cash Flow (“DCF”) by means of a Free Cash Flow to Firm (“FCFF”) and Relative Valuation through EV/EBITDA and P/E, will be used. Emphasis will be given to the FCFF. The Boeing Company is facing challenging times, in light of the novel Coronavirus crisis. On top of a previous crisis the company faced by the grounding of it’s most important airplane, the 737 MAX. Given the high macroeconomic and company specific uncertainties, three scenarios and sensitivity analysis to critical variables were performed. The analysis performed, sustains the basis to the issue of a HOLD recommendation, with a price target of $132.5 for 30th June 2020. The scenarios considered and multiples approach, allow for a wider scope range between $92.8 and $173.5 for the PPS. The results were compared with those of a report issued by Refinitiv.
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spelling Equity valuation : the Boeing CompanyEquity researchThe Boeing CompanyAerospace and defenseAvaliação de empresasAeroespacial e defesaDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis Master Thesis object is to place a value for the Equity of The Boeing Company (BA), one of the World’s largest aerospace and defense company’s. Out of the set of valuation methodologies, the Discounted Cash Flow (“DCF”) by means of a Free Cash Flow to Firm (“FCFF”) and Relative Valuation through EV/EBITDA and P/E, will be used. Emphasis will be given to the FCFF. The Boeing Company is facing challenging times, in light of the novel Coronavirus crisis. On top of a previous crisis the company faced by the grounding of it’s most important airplane, the 737 MAX. Given the high macroeconomic and company specific uncertainties, three scenarios and sensitivity analysis to critical variables were performed. The analysis performed, sustains the basis to the issue of a HOLD recommendation, with a price target of $132.5 for 30th June 2020. The scenarios considered and multiples approach, allow for a wider scope range between $92.8 and $173.5 for the PPS. The results were compared with those of a report issued by Refinitiv.O objecto desta tese de mestrado é atribuir um valor ao capital prórprio da The Boeing Company (BA), uma dais maiores empresas do Mundo de aeroespacial e defesa. Da panóplia de metodoligias de avaliação de empresas, of Fluxos de Caixa Descontados sob meio do Free Cash Flow to Firm e avaliação relativa com base em múltiplos de mercado, designadamente EV/EBITDA e P/E, foram utilizados. Ênfase será dado aos Fluxos de Caixa Descontados. The Boeing Company enfrenta um panorama desafiante, derivado da crise do novo Coronavirus. Adicionalmente, a empresa já enfrentava uma crise decorrente da proibição de voo do seu mais importante avião, o 737 MAX. Dado as incertezas macroeconomicas e idiosincráticas, foram considerados 3 cenários a análises de sensibilidade a variáveis críticas foram realizadas. O estudo realizado, sustenta a base de emissão de uma recomendação de MANTER, com um preço alvo de $132.5 para a data de 30 de Junho de 2020. Os cenários analisados e a avaliação relativa, permitem uma perspectiva mais ampla que culmina numa intervalo de valores para o Preço por Ação de $92.8 a $173.5. Os resultados foram comparados com os de um relatório emitido pela Refinitiv.Martins, José Carlos TudelaVeritati - Repositório Institucional da Universidade Católica PortuguesaCastro, João Pedro Rocha Alves Alvim de2020-11-10T11:56:51Z2020-07-0720202020-07-07T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/31320TID:202518248enginfo: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:RCAAP2023-07-12T17:36:50Zoai:repositorio.ucp.pt:10400.14/31320Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:25:13.775944Repositório 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 : the Boeing Company
title Equity valuation : the Boeing Company
spellingShingle Equity valuation : the Boeing Company
Castro, João Pedro Rocha Alves Alvim de
Equity research
The Boeing Company
Aerospace and defense
Avaliação de empresas
Aeroespacial e defesa
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Equity valuation : the Boeing Company
title_full Equity valuation : the Boeing Company
title_fullStr Equity valuation : the Boeing Company
title_full_unstemmed Equity valuation : the Boeing Company
title_sort Equity valuation : the Boeing Company
author Castro, João Pedro Rocha Alves Alvim de
author_facet Castro, João Pedro Rocha Alves Alvim de
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 Castro, João Pedro Rocha Alves Alvim de
dc.subject.por.fl_str_mv Equity research
The Boeing Company
Aerospace and defense
Avaliação de empresas
Aeroespacial e defesa
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Equity research
The Boeing Company
Aerospace and defense
Avaliação de empresas
Aeroespacial e defesa
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This Master Thesis object is to place a value for the Equity of The Boeing Company (BA), one of the World’s largest aerospace and defense company’s. Out of the set of valuation methodologies, the Discounted Cash Flow (“DCF”) by means of a Free Cash Flow to Firm (“FCFF”) and Relative Valuation through EV/EBITDA and P/E, will be used. Emphasis will be given to the FCFF. The Boeing Company is facing challenging times, in light of the novel Coronavirus crisis. On top of a previous crisis the company faced by the grounding of it’s most important airplane, the 737 MAX. Given the high macroeconomic and company specific uncertainties, three scenarios and sensitivity analysis to critical variables were performed. The analysis performed, sustains the basis to the issue of a HOLD recommendation, with a price target of $132.5 for 30th June 2020. The scenarios considered and multiples approach, allow for a wider scope range between $92.8 and $173.5 for the PPS. The results were compared with those of a report issued by Refinitiv.
publishDate 2020
dc.date.none.fl_str_mv 2020-11-10T11:56:51Z
2020-07-07
2020
2020-07-07T00:00:00Z
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/31320
TID:202518248
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