The Main Defects And The Improvement Of The Valuation Method Based On The Residual Income Model In The Real Estate Enterprise Valuation

The real estate industry has become the focus of many people in recent years, with the frequent Enterprise Diversified Investment and financing and M& A activities, how to evaluate the enterprise value has become a real estate valuation field difficulties and a new topic. The real estate industry is an important component of the national economic system, in the promotion of city construction, promote economic growth and improve living standards play an important role in. With the status of real estate in the hearts of the people more and more prominent, the Real Estate Company value attention degree is more and more high. Therefore, in the current economic environment, study of the evaluation of real estate enterprise value of great significance. This paper first introduces the characteristics and value theory, status quo and characteristics of the current real estate industry real estate, and then introduces the residual income model, and according to the defects of the original model was improved, introduces the forecast period city net rate and the Du Pont financial analysis system, effectively overcomes the defects of the original model is easy to be affected by the the subjective factors, on the capital treatment of weakness, the financial index and residual income directly, make full use of accounting information, to ensure the credibility and the estimation of the accuracy of the results. Finally, carried on the analysis to the modified model analysis of Vanke, Vanke operating conditions and business strategy, and then, combined with the company’s financial statements, from the profitability, solvency, operation and development of four aspects of in-depth analysis of achievement and development achieved Vanke financial condition and business prospects, the improved residual income model and after use the evaluation of Vanke’s value result analysis. Methods used by theoretical analysis and case study to investigate the residual income model in real estate appraisal, combining research, value evaluation methods of real estate enterprises with high reference significance; improved residual income model also provides a new idea for the real estate enterprise value assessment, the research value of the enterprise, we should pay more attention to the enterprise to create beyond the surplus value basic compensation required by investors abroad in the future; analysis and Research on the financial results of this article can help investors to form a correct investment decision.