E-commerce Enterprise Value Evaluation Based On EVA Model

In recent years,the development of e-commerce enterprises has brought great challenges to real enterprises.With the improvement of big data,Internet of things and other technologies,e-commerce platform is rapidly popularized,and more basic power is driving the development of Internet retail industry.Internet retail is relying on the new economic situation generated by the Internet industry,the Internet industry has set up the logistics,capital flow,product flow of e-commerce retail,optimized the transaction process,enhanced the consumer's shopping experience,through the integration of the industrial chain,Enterprise resources play the greatest role.Many physical manufacturing enterprises began to transform into e-commerce enterprises,trying to find new ways to make profits by changing business models.E-commerce The rapid development of enterprises will inevitably attract the attention of the capital market,and it is of great significance to study the valuation of such enterprises.The business model transformation of e-commerce enterprises has a significant impact on their future growth,and the valuation involves more factors and faces greater risks,and the income method is more suitable for evaluating such enterprises.EVA method considers the basic valuation logic of enterprise strategy,operation and report form,and also considers many off-balance-sheet factors,such as considering the future growth and profitability of the enterprise,which is more suitable for evaluating the value of the transformed e-commerce enterprise.E-commerce enterprises have the characteristics of light assets operation,and the capital composition takes into account the opportunity cost of equity capital and bond cost.This paper first introduces the research background and significance of Internet e-commerce industry,then describes the basic theory of EVA valuation model,and the effectiveness of the application EVA model of e-commerce enterprises.Secondly,the research object is Antarctic e-commerce.In order to actively respond to market changes and change business models,Antarctic e-commerce has successfully transformed from traditional retail manufacturing enterprises to Internet e-commerce enterprises.In the process of evaluation,the background of value evaluation of Antarctic e-commerce enterprises,such as industry status,business model,profit of value chain,is analyzed and so on to understand its value source advantages,using the GMV indicators of e-commerce enterprises to analyze its growth.Finally,the enterprise value based on the EVA model is calculated,and the evaluation result is higher than the market value,while the current stock price of the enterprise is higher,which indicates that the valuation result can reflect the development of the company more.and use free cash flow and price-earnings ratio method to evaluate separately,compare and analyze the valuation results,and verify EVA valuation method to evaluate the effectiveness of e-commerce enterprises.This paper supplements the deficiency of the current valuation method in evaluating the value of e-commerce enterprises,enriches the theoretical system of enterprise value evaluation,and provides a reference for the investment and risk control of e-commerce enterprises.