Research On Investment Value On CS Company

After more than 20 years of development,China's securities market has made great achievements and made great contributions to the development of China's economy.However,the majority of small and medium-sized investors in the securities market,the investment concept is not mature,easy to follow the trend of trading,not conducive to the stability of the securities market.Therefore,it is particularly important for the healthy development of China's securities market to guide small and medium-sized investors to focus on the intrinsic value of enterprises rather than follow the trend of speculation.In this paper,CS company as the research object,a detailed analysis of its investment value,hoping to give investors some reference.This paper mainly includes the following parts: the first part introduces the research background,research purpose and research significance,reviews the research status of relevant issues at home and abroad,evaluates the research status at home and abroad,and shows the research method and line of thinking of the full text to the readers.The second part summarizes the theoretical basis of enterprise investment value,clarifies the specific connotation of investment value,and introduces free cash flow discount method and price-earnings ratio method in detail.The third part introduces the development history,competitive advantage,product business,financial status and other situations of CS company by combining text description and data analysis,and comprehensively presents the basic information of CS company.Nearly five years the fourth part,through to the CS company financial statement analysis of the specific project,annual free cash flow is calculated out history,at the same time,according to historical annual growth rate and the current macro economy and the international status of heparin API to estimate the future annual growth rates,and then applied to future free cash flows during the period of forecast,will eventually average return on investment of the world economy since 300 the growth rate of 5% as the stable period.Choose a reasonable method to determine the cost of capital of the enterprise,the 1-5 years of medium and long term loan interest rate as the cost of debt capital,risk-free interest rate using China's one-year weighted average deposit rate,the market risk premium for the last 10 years of the average annual yield,the beta coefficient is indeed set as 24 months of the weighted average value.The free cash flow discount method is used to estimate the investment value of enterprises,to provide investors with a rigorous quantitative analysisframework of investment value,and the p/e ratio method is introduced as an auxiliary verification accounting.The fifth part summarizes the enlightenment brought by the research on the investment value of CS company,and discusses the macro factors,industry characteristics and the internal environment of the enterprise.This paper demonstrates the investment value analysis process based on the free cash flow discount method in a concise logic line and verifies it with the price-earnings ratio method,hoping to help small and medium-sized investors correctly evaluate the intrinsic value of enterprises.