Philip Morris International: equity valuation
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/19139 |
Resumo: | The focus of this dissertation is on the equity valuation of Philip Morris International (PMI), Inc., the main publicly traded tobacco company. For that matter, the main goal of this paper is to determine how much PMI is worth and reach a fair price per share, which means to calculate how much the company worth given its assets and its position in the market. As the objective of the thesis is to value only the equity part, the valuation approach followed the free cash-flow to the equity method. Additionally, is also done an overview of the principal equity valuation approaches, along with other topics considered as essential in a valuation methodology process. Philip Morris International target share price is forecasted at 92$ and when compared with the price as of 31-Dec-18 of 66,76$, the last one is clearly undervalued. |
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Philip Morris International: equity valuationEquity valuationFree cash-flow to equity (FCFE)Valuation methodologyUndervaluedAvaliação de capitais própriosMetodologias de avaliaçãoSubvalorizadoThe focus of this dissertation is on the equity valuation of Philip Morris International (PMI), Inc., the main publicly traded tobacco company. For that matter, the main goal of this paper is to determine how much PMI is worth and reach a fair price per share, which means to calculate how much the company worth given its assets and its position in the market. As the objective of the thesis is to value only the equity part, the valuation approach followed the free cash-flow to the equity method. Additionally, is also done an overview of the principal equity valuation approaches, along with other topics considered as essential in a valuation methodology process. Philip Morris International target share price is forecasted at 92$ and when compared with the price as of 31-Dec-18 of 66,76$, the last one is clearly undervalued.O objetivo desta dissertação é a avaliação de capitais próprios da Philip Morris International (PMI), Inc., a principal empresa de tabaco cotada em bolsa. Nesse sentido, o principal objetivo desta tese é determinar quanto vale a PMI e calcular um preço justo por ação. Esta análise é muito importante para os acionistas e todos os possíveis investidores, pois o mercado está em constantes alterações, o que torna difícil avaliar corretamente calcular o valor correto. Visto que o objetivo da tese é avaliar o capital próprio, o método de avaliação utilizado foi o free cash-flow to the equity. Adicionalmente, é também feita uma análise geral acerca dos principais processos de avaliação, junto com outros tópicos considerados importantes num processo de metodologias de avaliação. O “share price” calculado para a Philip Morris International é de 92$ e quando comparado com o preço a 31-Dez-2018 de 66,76$, este último está claramente subvalorizado.2021-11-25T00:00:00Z2019-11-26T00:00:00Z2019-11-262019-09info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/19139TID:202319253engSantos, Luís Manuel Pecas dosinfo: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:RCAAP2023-11-09T17:28:00Zoai:repositorio.iscte-iul.pt:10071/19139Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:12:31.783870Repositório 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 |
Philip Morris International: equity valuation |
title |
Philip Morris International: equity valuation |
spellingShingle |
Philip Morris International: equity valuation Santos, Luís Manuel Pecas dos Equity valuation Free cash-flow to equity (FCFE) Valuation methodology Undervalued Avaliação de capitais próprios Metodologias de avaliação Subvalorizado |
title_short |
Philip Morris International: equity valuation |
title_full |
Philip Morris International: equity valuation |
title_fullStr |
Philip Morris International: equity valuation |
title_full_unstemmed |
Philip Morris International: equity valuation |
title_sort |
Philip Morris International: equity valuation |
author |
Santos, Luís Manuel Pecas dos |
author_facet |
Santos, Luís Manuel Pecas dos |
author_role |
author |
dc.contributor.author.fl_str_mv |
Santos, Luís Manuel Pecas dos |
dc.subject.por.fl_str_mv |
Equity valuation Free cash-flow to equity (FCFE) Valuation methodology Undervalued Avaliação de capitais próprios Metodologias de avaliação Subvalorizado |
topic |
Equity valuation Free cash-flow to equity (FCFE) Valuation methodology Undervalued Avaliação de capitais próprios Metodologias de avaliação Subvalorizado |
description |
The focus of this dissertation is on the equity valuation of Philip Morris International (PMI), Inc., the main publicly traded tobacco company. For that matter, the main goal of this paper is to determine how much PMI is worth and reach a fair price per share, which means to calculate how much the company worth given its assets and its position in the market. As the objective of the thesis is to value only the equity part, the valuation approach followed the free cash-flow to the equity method. Additionally, is also done an overview of the principal equity valuation approaches, along with other topics considered as essential in a valuation methodology process. Philip Morris International target share price is forecasted at 92$ and when compared with the price as of 31-Dec-18 of 66,76$, the last one is clearly undervalued. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-11-26T00:00:00Z 2019-11-26 2019-09 2021-11-25T00:00:00Z |
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/10071/19139 TID:202319253 |
url |
http://hdl.handle.net/10071/19139 |
identifier_str_mv |
TID:202319253 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
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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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