| In recent years,China’s air pollution,water pollution and waste pollution are facing a serious situation.As a strategic emerging industry,environmental protection is developing rapidly.With the increasing investment in environmental protection in China,environmental protection industry is playing an increasingly important role in the development of national economy.From 2015 to 2016,with the continuous improvement of the legal system of environmental protection,various environmental protection policies have been introduced.Green companies are also becoming more popular in the stock market.How to choose the most valuable stocks among a large number of companies to successfully catch up with the development boom of the environmental protection industry has become an issue that investors must consider.As a performance evaluation index,economic added value(EVA)provides a new choice for investors to correctly evaluate enterprise value.Compared with other evaluation methods,it comprehensively considers the debt cost and equity cost of enterprises,and its essence is an indicator to measure the economic profit generated by enterprise operation,which has unique advantages.In addition,by adjusting the company’s financial statements,EVA value can more accurately reflect the value created by the enterprise in a period of time.Using EVA method to evaluate the environmental protection company can better reflect the real enterprise value of the company.On the basis of this model,this paper selected A sample enterprise in the environmental protection industry to evaluate the enterprise value from 2013 to 2017 by EVA method,and made A sensitivity analysis of the results.Its purpose is to help investors find companies with investment value in this industry by using EVA valuation method,and to find the differences between the evaluation results and the current market valuation of the company.At the same time,the applicability of EVA valuation method in environmental protection industry is analyzed by comparing other valuation methods,and corresponding Suggestions are given based on EVA method for the value assessment of environmental protection enterprises.Finally,it comes to the conclusion that sample A enterprise in the environmental protection industry is undervalued,and using EVA method to value environmental protection enterprises can better reflect the real value of the company. |
