The Construction And Application Research Of Enterprise Value Evaluation Model For Internet Listed Companies

With the development of Internet companies,their scale has grown,and corporate activities such as restructuring,M&A,financing,and listing have emerged.This will inevitably bring them into contact with the evaluation of corporate value.Internet companies are different from traditional enterprises in that they have light assets,high risks,and high uncertainties and unstable business models.Therefore,people concentrate more on the scientificity,rationality and objectivity of the value evaluation results.This article summarizes the related theories about the evaluation of Internet value in the first part,and then analyzes the applicability and limitations of the existing enterprise valuation methods,such as the income method,market method,cost method and real option model when assessing the value of Internet companies.It was found that real options are suitable for assessing issues about uncertainty,proving the applicability of the real options approach in assessing the value of Internet companies.Furthermore,this essay discusses the usage of the discounted cash flow method to assess the company's existing business value,the application of the real option model to assess potential value and the construction of the evaluation model that is appropriate for internet companies.Finally,taking Tencent as an example,the conclusion is drawn that we can use the free cash flow method and the real option pricing model to calculate the company's value,which throws light on that the model created in this paper has progressiveness and applicability.