Equity valuation : the Boeing Company
Autor(a) principal: | |
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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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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 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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/10400.14/31320 TID:202518248 |
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http://hdl.handle.net/10400.14/31320 |
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TID:202518248 |
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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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application/pdf |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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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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