Research On Value Evaluation Of Internet High-tech Enterprises Qihoo 360

When conducting mergers and acquisitions and other related activities,the value evaluation of the target company is the key to the entire M&A and restructuring activities.The Internet industry has different profit methods and growth models from the traditional industries,which makes the evaluation results affected.Therefore,the Internet industry is studied in M&A.The valuation method in the reorganization provides more reference grounds for M&A and restructuring of Internet companies,making the transaction more fair and of great significance.Contrary to the limitations of traditional valuation methods and ideas in the valuation of Internet companies,this paper adopts the Schwartz-Moon real option model based on the concept of real options,which is improved from the traditional way,and explores the valuation of high-tech enterprises such as the Internet.Applicable method.Forecast the revenue,cost and future cash flow of the target company and finally estimate the value of the company.This paper takes Qihuo 360 Technology Co.,Ltd.,which is backdoor A stock,as a sample,applies Schwartz-Moon real option model,evaluates it based on its evaluation base date,compares it with its trading results,and judges the reasonable evaluation method.Sexuality also performs sensitivity analysis on the parameters and variables involved in the applied model.The model was further adopted to evaluate Qihoo 360 and other six companies in the same industry with the set date as the evaluation base date,and to compare and analyze the evaluation results and market value to further test the evaluation results.Finally,through the research of Case Company 360,it is used as a price reference for similar high-tech companies such as the Internet in value evaluation practice.