Equity valuation: The Navigator Company, S.A.

Detalhes bibliográficos
Autor(a) principal: Morgado, Pedro Laranjeiro Amaro Serrão
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/10071/21566
Resumo: This report was developed with the main objective of estimating the fair value for The Navigator Company’s shares of as of 31 December 2019 and determine if the company was being under or overvalued by the market, through a comparison with the actual share close price at that time. Navigator is a Portuguese company with over 70 years of activity and an international benchmark in the Pulp & Paper industry for its products of excellence. The valuation was carried using two methodologies from the vast available selection: the Discounted Cash Flows approach and the Relative Valuation. The assumptions made are supported by analysis to the company’s historical performance and to the macroeconomic and market environment. The results obtained across both methodologies suggest that, as of 31 December 2019, Navigator’s shares were priced above its fair value.
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spelling Equity valuation: The Navigator Company, S.A.NavigatorDiscounted cash flowsMultiplesAvaliação de empresas -- Business valuationFluxos de caixaMúltiplosThis report was developed with the main objective of estimating the fair value for The Navigator Company’s shares of as of 31 December 2019 and determine if the company was being under or overvalued by the market, through a comparison with the actual share close price at that time. Navigator is a Portuguese company with over 70 years of activity and an international benchmark in the Pulp & Paper industry for its products of excellence. The valuation was carried using two methodologies from the vast available selection: the Discounted Cash Flows approach and the Relative Valuation. The assumptions made are supported by analysis to the company’s historical performance and to the macroeconomic and market environment. The results obtained across both methodologies suggest that, as of 31 December 2019, Navigator’s shares were priced above its fair value.Este relatório foi desenvolvido com o objetivo principal de estimar o justo valor das ações da The Navigator Company a 31 de dezembro de 2019 e determinar se a empresa se encontrava sub ou sobrevalorizada pelo mercado, através da comparação com o preço de fecho real da ação nessa data. A Navigator é uma empresa portuguesa com mais de 70 anos de atividade e uma referência internacional na indústria da pasta e papel pelos seus produtos de excelência. A avaliação foi realizada utilizando duas metodologias de entre a vasta seleção disponível: a abordagem de Fluxos de Caixa Descontados e a Avaliação dos Múltiplos. Os pressupostos efetuados são fundamentados por análises ao desempenho histórico da empresa, bem como ao contexto macroeconómico e da indústria. Os resultados obtidos em ambas as metodologias sugerem que, em 31 de dezembro de 2019, as ações da Navigator estavam cotadas acima do seu justo valor.2021-01-26T15:33:07Z2020-12-17T00:00:00Z2020-12-172020-11info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/21566TID:202580571engMorgado, Pedro Laranjeiro Amaro Serrãoinfo: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:RCAAP2023-11-09T17:28:11Zoai:repositorio.iscte-iul.pt:10071/21566Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:12:36.895545Repositório 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 Navigator Company, S.A.
title Equity valuation: The Navigator Company, S.A.
spellingShingle Equity valuation: The Navigator Company, S.A.
Morgado, Pedro Laranjeiro Amaro Serrão
Navigator
Discounted cash flows
Multiples
Avaliação de empresas -- Business valuation
Fluxos de caixa
Múltiplos
title_short Equity valuation: The Navigator Company, S.A.
title_full Equity valuation: The Navigator Company, S.A.
title_fullStr Equity valuation: The Navigator Company, S.A.
title_full_unstemmed Equity valuation: The Navigator Company, S.A.
title_sort Equity valuation: The Navigator Company, S.A.
author Morgado, Pedro Laranjeiro Amaro Serrão
author_facet Morgado, Pedro Laranjeiro Amaro Serrão
author_role author
dc.contributor.author.fl_str_mv Morgado, Pedro Laranjeiro Amaro Serrão
dc.subject.por.fl_str_mv Navigator
Discounted cash flows
Multiples
Avaliação de empresas -- Business valuation
Fluxos de caixa
Múltiplos
topic Navigator
Discounted cash flows
Multiples
Avaliação de empresas -- Business valuation
Fluxos de caixa
Múltiplos
description This report was developed with the main objective of estimating the fair value for The Navigator Company’s shares of as of 31 December 2019 and determine if the company was being under or overvalued by the market, through a comparison with the actual share close price at that time. Navigator is a Portuguese company with over 70 years of activity and an international benchmark in the Pulp & Paper industry for its products of excellence. The valuation was carried using two methodologies from the vast available selection: the Discounted Cash Flows approach and the Relative Valuation. The assumptions made are supported by analysis to the company’s historical performance and to the macroeconomic and market environment. The results obtained across both methodologies suggest that, as of 31 December 2019, Navigator’s shares were priced above its fair value.
publishDate 2020
dc.date.none.fl_str_mv 2020-12-17T00:00:00Z
2020-12-17
2020-11
2021-01-26T15:33:07Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/21566
TID:202580571
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identifier_str_mv TID:202580571
dc.language.iso.fl_str_mv eng
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dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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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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