Study On The Valuation Of Listed Companies In The AI Industry

As an emerging high-tech industry,the AI industry has been developing rapidly in recent two years,especially under the impetus of various related events and policies.In the second market,the share price of Listed Companies in AI industry has also hit a record high in recent years.The index of P / E is significantly higher than that of the A share and the overseas mature market.For the related investors,how to choose the appropriate valuation method to evaluate the listed companies in the artificial intelligence industry is a subject worthy of study.Firstly,this paper summarizes the main valuation methods such as absolute valuation model,relative valuation model,and real option model,as well as their respective advantages and disadvantages.Then it analyzes the status quo of the artificial intelligence industry and the corresponding feature of valuation.From the perspective of theoretical analysis,the paper concludes that the industry applies the real option model for valuation.Then,this paper selects the most representative listed company in the artificial intelligence industry of A-share market,IFLYTEK,to evaluate it,adopting the traditional DCF model and real options model respectively,and comparing the resulting valuation results with the real market.Through analysis,we can conclude that compared with the traditional cash flow discount method,using the real option model to evaluate IFLYTEK can get more accurate results.The real option model takes into account the uncertainties in the actual business process of the company and better reflects the value of listed companies in the artificial intelligence industry.Finally,according to the results of this study,we draw conclusions,point out the limitations of the article and look into the direction of future research,hoping to provide some references for relevant researchers and investors.