Enterprise Value Evaluation Of Online Education Based On EBO Model

For many years,our government has attached great importance to education,which is both the foundation of the country and the foundation of the strong country.Catalyzed by the development of Internet information technology and the epidemic,the online education industry has developed vigorously,and education has formed the status quo of the development of both online and offline channels.Under the guidance of national macro policies,the development trend of education industry is becoming more and more standardized.As the competition in the online education market intensifies,economic activities such as mergers and acquisitions,investment and liquidation among online education enterprises occur frequently.Therefore,it is in line with the practical needs of the market to choose appropriate evaluation methods to calculate the valuation of online education enterprises.Starting from the concept of online education enterprise,this thesis analyzes the operating characteristics and value creation ways of online education enterprise,based on three traditional methods of asset evaluation,selects EBO model to evaluate the value of online education enterprise.Based on the derivation of EBO model,this thesis analyzes the applicability of traditional EBO model to evaluate the value of online education enterprises.Based on the study and grasp of literature and the characteristics of online education enterprises,this thesis introduces dupont analysis system to improve the difficult quantification of model index,the limitation of traditional EBO model to improve the duration of business,and introduces price-earnings ratio to improve the survival value of online education enterprises considering the high proportion of intangible assets in business income.In order to verify the applicability of the improved EBO model to the online education enterprise value assessment,this thesis adopts case analysis method and selects Highways Education Technology Group Co.Ltd as the target of the case assessment.Finally,combing through the whole text,the improved EBO model is feasible to evaluate the value of online education enterprises.Combining with the shortcomings of the text,this thesis puts forward the prospect of online education enterprise value evaluation.In the conclusion part,this thesis uses the improved EBO model to evaluate the enterprise value of Gaotu Education Technology Group Co.Ltd.on the base date of evaluation,and compares the evaluated value with the market value.It is found that the evaluated value is slightly larger than the market value and close to the market value.It can be seen that the improved evaluation method has certain reference value for the value evaluation of online education enterprises.The feasibility of the evaluation method is verified.