Valuation Of Tesla Enterprise Based On B-S Option Pricing Model

Since the1940s, the world produced a series of major inventions, technological innovation on the basis of high-tech manufacturing industries become a very important part of the world, their development need enough capital support, which is unaffordable for government, therefore, enterprises need financing through the capital market. In the financing process, investors’decision is influenced on the judgment of the company’s future value. Although the development of a comprehensive assessment of enterprise value theory, but how to choose suitable method for enterprise value assessment and how to determine the parameters of assessment model, has become one of the problems of high and new technology enterprise value assessment.Tesla is chosen as the case, this paper is divided into four parts:First introduces the research background and research target, secondly by comparing the relative valuation method, discount cash flow method and the option pricing method, And combining with the characteristics of tesla and analysis the maneuverability of the three methods. Due to the tesla special business, some of the financial data is negative; it is difficult to find comparable companies. And also it is difficult to estimate Tesla"s future income, so the discounted cash flow technique also does not apply to tesla’s valuation. Finally chose the option pricing method to evaluate the tesla enterprise value. The third part, introduce how to predict the tesla future sales, At the same time, combining with the cash flow discount method to determine the important parameters, such as "strike price", finally calculated the enterprise value use optional. method. Finally, summarize this article’s research procedure and its shortcomings.