Investment Value Analysis Of M Enterprises

As one of the pillar industries of the national economy,the household appliances industry is closely related to the lives of the people.In recent years,the output value of home appliance industry in our country has maintained steady growth,at the same time,it has also promoted the development of transportation and service industry,which has made an important contribution to maintain the healthy and orderly development of national economy.So far,there are nearly 50 listed home appliance companies in China,and the competition in the air-conditioning industry is extremely fierce.It is the investor who chooses the right stock in this highly competitive home appliance industry.Through the research in this paper,a relatively complete analysis model is established for investors.M Enterprise is currently the world's largest professional air-conditioning enterprise,integrating production,sales and service.After more than 20 years of rapid development,M enterprise has been exported to more than 100 countries and regions in the world,and is the leading enterprise of air conditioning industry in China.Since its successful listing on the Shenzhen Stock Exchange in 1996,M companies have attracted the attention of many investors.Therefore,this paper chooses M enterprises as the analysis object.First of all,fundamental analysis is adopted to analyze and evaluate the enterprise from three aspects: macro environment,industry and the company itself.In terms of macro environment,after 40 years of reform and opening up,China's economy has achieved important development.With the improvement of residents' awareness of living standards and quality of life,the country pays more attention to people's livelihood.The continuous drive of household appliance consumption policy has a good stimulation effect on the development of integrated household appliance industry.From the perspective of the industry,the growth space of the industry can be expected.Air conditioning is still the only domestic white goods with a large increase in the volume of products,and the export economic potential is huge.Combined with its own situation,M enterprise has laid a solid foundation for its future development by virtue of its strong brand advantage,good design and innovation ability and cost control ability.Then through the vertical financial analysis of M enterprise and the horizontal comparative analysis of the data of the selected companies in the same industry,it can be clearly understood that M enterprise have good operating conditions,strong profitability and solvency,great potential for development.Secondly,the value of M enterprise is evaluated and analyzed.In this paper,the free cash flow discount method and p/e ratio method are used to evaluate the intrinsic value of M enterprise.The obtained evaluation results are 71.11 yuan and 64.76 yuan respectively,and the reasons for the differences in the evaluation results are analyzed.Finally,combined with the investment risks revealed in chapter 5,the paper concludes that the value of M enterprise is underestimated.Despite some investment risks,M enterprise is still worthy of attention and investment in the long run.