Research On The Enterprise Valuation Based On Financial Analysis Framework Of Harvard

Robam is one of the important enterprises in China's kitchen appliances,and its market share of smoke extractors has long been in the forefront.More remarkably,between 2009 and 2016,the operating income and net profit of Robam maintained a rapid growth trend.But,after 2017,due to factors such as estate policy,the overall performance of the kitchen appliance industry is sluggish and the firm has also ended the rapid growth for six consecutive years.Robam was listed on the Shenzhen Stock Exchange.As a competitive White Horse Stock Enterprises,the company's stock price changes have an important impact on the home appliance sector.Therefore,the company's share price is highly concerned by investors.The research in this paper is based on Harvard Financial Analysis Framework to evaluate enterprise.From the four aspects of strategic analysis?accounting analysis?financial analysis and prospect analysis,the company conducts financial data analysis and enterprise value evaluation for Robam.First of all,this paper introduces the background?purpose and meaning of the topic,and points out the activity and importance of financial analysis.Therefore,the basic idea analysis is put forward.Secondly,this article expounds the relevant theoretical basis and reviews the four parts of Harvard Financial Analysis Framework and the method of using the residual income model to evaluate enterprise value.Once again,the business status of Robam is introduced in detail.Finally,theory combine with and case,this paper uses Harvard Financial Analysis Framework to analyze the strategy?accounting?finance and prospects of Robam.The focus of the prospect analysis is to use Residual income and ratio valuation model to evaluate and predict the value of the company.The Harvard Analytical Framework starts with corporate strategy.Based on the analysis of financial data,this paper adds qualitative analysis of the development status and prospects of the industry and the enterprise.This paper uses Residual Income and Ratio Valuation Model to evaluate the company,which combines Residual Income Valuation Model with Dupont Analysis System and makes full use of accounting data information in the company valuation.Finally,Harvard Financial Analysis Framework and Residual Income and Ratio Valuation Model are combined to analyze the operating performance and company valuation of Robam,and the two theories are combined with actual enterprises and applied to domestic listed companies.This paper believes that the company strategy and competition strategy adopted by Robam are suitable for the company who is a leading enterprise in the kitchen electric appliance industry and its business performance is very good.Therefore,the stock market is more optimistic about the stock price of Robam.However,with the gradual maturity of the kitchen appliance industry,increased competition in the industry,rising raw materials,government policies,etc.,the profit margin of the firm has become smaller,and the company's operating performance has declined.Through the valuation of the company,it is found that the company's price of share is higher than the estimated value per share of this article.At present,the stock of Robam is undervalued.