Aotexun Investment Value Analysis Based On Free Cash Flow Discount Mode

With the development of economy,capital market is playing an increasingly important role.But our country capital market is still in the primary stage of development,various systems and regulatory are not standardized,small and medium investor's philosophy is not mature enough.In order to promote the sound development of our economy,the improvement of capital market is imperative.An important aspect of the improvement of capital market is to establish the correct understanding of investment,establish the right investment concept,master the comprehensive scientific investment value analysis tools,form the investment value concept of the system,and make rational investment.In general,establishing the correct investment concept of investors is very important to promote the healthy development of capital market.Based on the related literature of investment value,this paper analyzes the various investment value analysis methods,mainly internal value analysis method,compares two analysis methods,and selects the basic analysis method more suitable for the actual situation.Among them,the fundamentals are analyzed from the macro,meso and micro levels,the macro aspect analyzes the macroeconomic situation,the medium level mainly analyzes the industry development status,and the micro level is to analyze the situation of Aotexun company itself.To provide a reference model for investors to analysis investment value of company comprehensively and qualitatively.The value analysis chose the two-stage free discounted cash flow method model,and to solve the difficulties of free cash flowdiscount model in application,this paper introduces grey prediction model to predict the free cash flow,choose reasonable methods to determine the cost of capital of the enterprise,then estimate the inverstment value of enterprise,provide a framework for investors to analysis investment value of company precisely and quantitatively.Through the analysis of fundamental and intrinsic value,judge the investment value of Aotexun company,and on this basis puts forward the specific investment advice.