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近年来,我国资本市场不断发展,企业价值评估的应用范围越来越广,科学公正地对企业价值进行评估,已经成为我国理论和实务界一个特别关注的课题。本文从企业自由现金流模型FCFF出发,对其各个参数进行较为详细的阐述,并将自由现金流量模型应用实例一光明乳业。在评估出光明乳业的整体价值和每股价值后,总结得出研究结论和不足。以期为投资者提供相对科学的参考数据,也可以为其他上市公司价值评估提供分析评估方法的借鉴。
In recent years, with the continuous development of China’s capital market and the wider application of enterprise value assessment, the scientific and fair assessment of the enterprise value has become a special topic of concern to both Chinese theory and practice. This paper starts from the FCFF model of a firm and elaborates its various parameters in detail, and uses a free cash flow model as a case study of Bright Dairy. In assessing the overall value of Bright Dairy and the value of each share, concluded that the conclusions and deficiencies. With a view to providing investors with relatively scientific reference data, but also for the valuation of other listed companies provide an analytical method of evaluation.