Research On Equity Evaluation Of GA Waste Heat Heating Company

Waste heat heating is a new heating method in recent years.Since it is a clean energy source,it has been strongly supported by the government,and it has gradually become one of the main heating methods in the North.In order to evaluate the value of waste heat heating company better,this paper takes GA waste heat heating company as an example to evaluate its equity value,and establishes a value evaluation model for waste heat heating company.This paper can provide reference for managers,government regulators and investors.Firstly,this paper introduces the background of the topic selection,and points out the theoretical and practical significance of this paper.This paper analyzes the current research situation at home and abroad,discusses the content of this study and the research methods adopted;secondly,it clarifies the basic theory of corporate equity valuation,and analyzes the features and usable range of several evaluation methods,like the common asset-based method,income method and market method.At the same time,it introduces the calculating process of cash flow discount and relative value evaluation.Thirdly,this paper analyzes the industry characteristics of waste heat heating company in depth again.And the operation status and development trend of GA company are analyzed.On this basis,the asset-based method,income method and market method are analyzed.Applicability,the income method is chose as the method of equity valuation of GA company;then this paper carries out empirical research,make the evaluation assumption clearly,forecast the income,cost,cost,capital expenditure and other data of GA company in detail,determine the appropriate discount rate,calculate the equity value of GA company through cash flow discount model.The valuation method of P/E ratio is used to verify the evaluation results.Finally,By analyzing the equity valuation of GA company,this paper puts forward some countermeasures and suggestions for improving the equity value of GA company and choosing investment objectives of external investors.some shortcomings of the valuation method of earnings are analyzed and prospected.