Research On New Energy Enterprise Value Evaluation Based On Improved EVA Method

In the context of global advocacy of low-carbon economy and sustainable development,it has become a consensus to boost green development with new energy industry,which brings opportunities for the development of new energy enterprises.The potential for the development of new energy market is increasing,more and more enterprises are actively seizing market share,various M&A activities are increasingly fierce,and the importance of enterprise value assessment is increasingly prominent.It is very important for the valuation of new energy enterprises to adopt a reasonable evaluation method,which is related to the decision-making of enterprise management and information users and the value creation ability of enterprises in the future.However,the current research on the valuation of new energy enterprises in China is not complete,and the traditional valuation method can not truly reflect the enterprise value.Therefore,based on the research of related theories,this paper attempts to construct a value evaluation model that conforms to the characteristics of new energy enterprises.Based on the analysis of the meaning of EVA,the basic content of value evaluation and the theory of research,this paper studies the valuation of new energy enterprises based on EVA.Through the comparative study of EVA value evaluation method and traditional valuation method,it is found that EVA method is more suitable for the value evaluation of new energy enterprises.At the same time,in view of the limitations of the traditional EVA value evaluation method,this paper analyzes the factors that affect the value of new energy enterprises,and then introduces non-financial factors such as product research and development,environment,human resources and enterprise strategy,and improves them in combination with financial factors.On the basis of EVA method,Delphi method and AHP are used to determine the index weight and evaluation coefficient,and then the EVA evaluation model is reconstructed.In order to verify the improved EVA valuation model,this paper uses case study method to study the sunshine power company.Based on the analysis of the operation and development prospect of sungrow power,taking the financial data from 2014 to 2018 as an example,the EVA value of sungrow power is calculated,and the EVA value of the next five years is predicted and analyzed from the high-speed development stage and the stable development stage,so as to calculate the enterprise value,and the comprehensive value of the enterprise is evaluated by combining the improved EVA value evaluation model.The conclusion is that the improved EVA valuation model can more accurately reflect the enterprise value of sunshine power supply,and the error rate with the market value is smaller,which also provides the basis for the new energy enterprises to apply the improved EVA valuation method,indicating that the impact of non-financial factors on the enterprise value cannot be ignored in the valuation.This paper applies the improved EVA method to the study of new energy enterprise value evaluation,which not only provides a new direction for the future research work,but also provides a basis for the decision-making of management and information users,which has certain theoretical and practical significance.