The Equity Valuation Of DC New Energy Technology Company

This article is derived from DC New Energy Technology Company plans to add strategic investors,the company's owner wants to know the value of the company.Therefore,this paper is based on the perspective of decision-maker to conduct valuations of the company's equity transactions.First of all,the thesis combines the internal and external environment of DC New Energy Technology Company.The competitive advantage,the characteristics of the company and other factors to analyze the value of the impact evaluation.Secondly,based on the characteristics of high-tech companies,after comparing and applicability analysis of commonly used valuation models.Determine the valuation of the existing product business using the discounted cash flow model,use the real option method to value the R&D investment project,and construct an evaluation framework for the value of the DC New Energy Technology Company;Determine the overall value of DC New Energy Technology Company,the company has no financial debt,and the calculated overall value is the equity value.Finally,the sensitivity factor analysis is used for the equity value of DC New Energy Technology Company.The research in this paper shows that: DC DC New Energy Technology Company is a high opportunity value in the future,especially for research and development projects.I use the BS pricing model to evaluate the R&D project and get the value of the project decision point higher than NPV,so that the value of the R&D project can be better obtained.And The valuation of the equity value of DC New Energy Technology Company is as follows: The value at the time of Oct.31,2018 is 27,307,908 Yuan,no financial liabilities,and the equity value is 27,307,908 Yuan.Through the sensitivity analysis,the company's equity value range: 20,757,564~33,022,878 Yuan,its operating income growth rate,sales expense ratio,project management flexible value is the sensitivity of the company's equity value factor.This paper uses the combination of DCF model and real option model to provide a reference for the valuation of DC New Energy Technology Company in the Equity transaction.At the same time,it has certain reference value for the subsequent evaluation of the equity value of similar technology companies..