Based On The EVA S Company Enterprise Value Evaluation,and Promotion Strategy Resarch

In the modern enterprise management concept,the focus of enterprise shareholders has shifted from the enterprise asset scale and net profit to the enterprise’s ability to create value.How to improve enterprise value has become the most important issue in enterprise management,and it is particularly critical to choose a scientific and reasonable evaluation method to evaluate enterprise value.Traditional enterprise valuation methods ignore the cost of equity capital and rely too much on the size of accounting profit,which is easy to cause enterprises to be manipulated by short-term interests and affect the long-term development of enterprises.Economic value added(EVA)makes up for this defect.It not only considers debt capital cost and equity capital cost at the same time,but also removes the factors affecting enterprise value caused by managers’ tendency to short-term interests through accounting account adjustment,making enterprises pay more attention to the ability to create value in the future.Therefore,in this paper,EVA value evaluation model is used as a tool to select S Company as the research object and evaluate its enterprise value.This paper first elaborated the concept of enterprise value evaluation,compared and analyzed the advantages and disadvantages of EVA evaluation method,cost method,market method,income method and other methods,and concluded that EVA evaluation method can better reflect the ability of enterprises to create value.Secondly,based on the analysis of S Company’s operating conditions,financial conditions and industry development status,the EVA value evaluation model is established for S Company,and the historical EVA value of S company from 2016 to 2020 is calculated by adjusting a series of accounting items.Further,based on the analysis of the coal industry and enterprises,Predict the FUTURE EVA value in 2021-2026,use the TWO-stage MODEL of EVA value evaluation to calculate the enterprise value,and take the sum of the total capital of the enterprise evaluation base date(December 31,2020)and the present value of its future EVA predicted value as the value of the evaluated enterprise.By comparing the total stock market value of S company on the base date of evaluation with the value of S company based on EVA evaluation method,it is found that the market value of the company is seriously underestimated.Finally,this paper puts forward the value improvement strategy of S Company.In terms of internal improvement,S company should expand operating revenue,increase market share,strictly control period expenses,optimize capital structure,improve receivables management,strengthen research and development,and promote technological innovation.Market value management should improve investor relationship management,enhance core competitiveness and actively practice corporate social responsibility.