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A Evaluation Of Investment Value Based On Salubris Pharmaceutical Listed Company

Posted on:2018-05-17Degree:MasterType:Thesis
Country:ChinaCandidate:D GaoFull Text:PDF
GTID:2439330563492833Subject:Accounting
Abstract/Summary:PDF Full Text Request
At present,with the country to increase the reform of the supply side of the pharmaceutical efforts to promote the priority assessment,consistency evaluation and other health care reform policy,low-quality drugs will be eliminated,high-quality innovative drugs and generic drugs will come to the fore,pharmaceutical manufacturing Industry to meet new opportunities and challenges.Investment valuation is the decision problem faced by pharmaceutical companies.Therefore,it is helpful for pharmaceutical companies to make correct investment decisions and make pharmaceutical companies develop rapidly and healthy.This article uses the case analysis method,selected a pharmaceutical manufacturing company letter Litas to assess its intrinsic value in detail,starting from the company's fundamentals,based on the financial statements,a detailed analysis of its operating conditions and development prospects,the use of absolute value assessment In the cash flow valuation model FCFF and relative value assessment method,through the use of FCFF model to determine the company's intrinsic value of the letter Litai company was 54.83 yuan,and then use the relative value of the valuation method to determine the value of the company's stock value range [40.03,55.23],finally,combined with the situation in the industry,we proposed a more scientific and reasonable investment proposal for the operating status of Xinli Tai.By reasonably estimating the intrinsic value of Shinlitai,investors can form a rational sense of value assessment,and they can not blindly follow the trend to formulate investment strategies with theoretical basis.At the same time,this forecast can help companies Managers have a more complete understanding of the company's own operations and found that the establishment of corporate codes is not standardized,the efficiency of production processes is not high,the high cost of capital management problems,find a suitable solution to these problems.At the same time,the managers of the company can also adjust their development direction and make strategic decisions according to the conclusion of the analysis compared with other competitors in the same industry so as to improve their core competitiveness.I hope this article can provide investors with a reasonable idea,scientifically combining the advantages and disadvantages of each assessment method,to provide effective information for their own investment decisions.
Keywords/Search Tags:Valuation, FCFF model, Relative valuation
PDF Full Text Request
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