A Study On The Valuation Of Iflytek Based On The Residual Income Model

Since China restarted its stock market in the early 1990 s,it has become the world's secondlargest,despite ups and downs.In the past three decades,our understanding of the stock market has been deepening.In addition to the financing function,the price discovery and resource allocation function of the stock market have been increasingly recognized by regulators,enterprises and investors.Equity valuation is an important theoretical problem which many valuation model,the mainstream value evaluation model are mainly dividend discount models,free cash flow discount model and residual income model,etc.,this paper selects the residual income model as the research object,the residual income model is also called equity shares,its accounting data directly as the valuation variables,and between accounting data and evaluation of the value of the company established a direct link.This article first to the value evaluation and briefly describes the basic theory and main model,secondly to improve the traditional residual income model,the introduction of du pont analysis system and PE multiplier,again to choose the case company-Iflytek Co.,ltd.for fundamental analysis,finally using the improved residual income valuation model for practical application of the hkust xunfei company,and in order to verify the scientific nature and effectiveness of the valuation model,which provide reference for other enterprise value assessment.