Based On The EVA Model Of GL Company Value Evaluation

The western countries have already formed a relatively perfect value evaluation system,but the value investment idea relatively late to enter china. At present, the cost method,market method, accrual method is the enterprise value assessment methods. Investors mustconsider the domestic and international capital market effective difference, according to theactual situation of the enterprise, use the appropriate value to evaluate a method to undertakecorrect valuation, minimize the subjective judgment to make investment decisions.By the end of2011, GL company of non-public offering of shares, the share price of22yen. From the investor’s point of view, GL company of non-public offering of stock price isoverestimated, related to the investment can yield.The method by which to assess GL’s valueis for investors to consider. In the value assessment methods were described and theadvantages and disadvantages compared with GL, the company’s main business development,this paper argues that the EVA model superiority make it suitable for the assessment of theinternal value of GL company. In the EVA model is used to assess the value of time this paperconsiders some of the steps and methods. Firstly, combining the GL company developed EVAmodel; second, in the use of EVA model combined with GL company practical considerationsof accounting item adjustment principle and content; third, the effects of GL value ofcompany business information analysis, on the basis of accounting project adjustment; fourth,use EVA model by GL in2011the company EVA value; the last is based on the EVA twophase model, from the GL company’s operating situation, set the duration, EVA growth rate,the weighted average cost of capital and other data to calculate EVA future value, and thencalculates the next year GL the company’s value, and intrinsic value per share. In this paper,the result is: the December31,2011GL EVA value of20165600yen, the enterprise valuecalculation in December31,20123899596700yen, with a total capital of289791100shares,to calculate the intrinsic value of13.46yen per share. Since the issuance of non-public sharesone year limited sales period,22yen per share issue price far higher than the paper calculatesthe next year per-share intrinsic value, this paper argues that the price to buy the stock has agreater risk of asset prices.Through this study, can be prepared to participate in GL the company non-public releasestock investors to provide decision-making reference, use EVA model to assess the value ofenterprises in the assessment of other listing Corporation also has certain referencesignificance.