Research On The Intrinsic Value Evaluation Of D Real Estate Company Based On FCFF And EVA Valuation Method

The three-year epidemic has adversely affected the real estate industry.Most states and cities across the country have taken measures such as closing sales offices,freezing construction sites,suspending land auctions,and suspending transactions,and the real estate industry is under unprecedented pressure.The capital chain of some small and medium-sized housing enterprises is broken,and enterprises are facing risks such as restructuring and mergers and acquisitions.The restructuring and mergers and acquisitions between real estate enterprises are inseparable from the assessment of enterprise value.Therefore,in the real estate industry,mergers and acquisitions and restructuring have become commonplace,so real estate valuation is particularly important.In the current market environment of severe undervaluation of the epidemic,external investors and internal managers of enterprises are also paying more and more attention to the internal value of enterprises,and the use of reasonable valuation methods is very important for internal value assessment of enterprises.The purpose of this thesis is to apply the theoretical knowledge of enterprise value assessment to real estate enterprises,help business operators better make business decisions and management optimization,adjust strategic direction in a timely manner,and let investors make correct investment decisions and get effective help.Scientific and reasonable value assessment can fully reflect the company’s business status,enable enterprises to objectively and fairly evaluate their own business behavior,and help accumulate high-quality resources and excellent management talents suitable for enterprise production and operation,so as to better promote the development of enterprises.On the other hand,unscientific value assessment,even very different from the actual situation,not only makes managers fall into decision-making difficulties,but also makes investors make unscientific decisions,resulting in waste of funds and consumption of social resources.In research related to enterprise valuation.There are many methods that can be used to assess the value of a company,each with its own advantages and disadvantages.Whether the choice of valuation method is accurate determines whether the future valuation results are accurate.Therefore,it is particularly important to choose scientific and effective evaluation methods.According to the research of scholars in the literature review,the discounted cash flow model(FCFF)and economic value added(EVA)model are more applicable in enterprise valuation than several other valuation methods,and this thesis will focus on the analysis and comparison of FCFF model and EVA The applicability of the model to the valuation of real estate enterprises,both models are widely used and have their own advantages,this thesis compares the valuation methods that are more suitable for D real estate companies by conducting empirical research on the valuation of the case company D real estate company.This thesis has certain reference value for investors to understand the true value of real estate,so as to make rational investment,promote the pricing of real estate mergers and acquisitions,and guide enterprise managers to pay attention to value management.