The Analysis Of Inventment Value On Listed Company In Steel Industry Of China

With the rapid development of securities market in China, the idea of value investment has received with investors'attention gradually. Investment value analysis of the listed company plays a very important role in the investment process and has become a hot issue. This paper takes the listed companies in steel industry as the research objects, and mainly adopts combination of qualitative and quantitative analysis, and combination of theoretical and practical analysis as research methods, so as to provide comprehensive evaluation and analysis the listed companies in steel industry, and reference for investors'rational investment.Firstly, this paper introduces the theoretical basis of value assessment, and the basic methods of corporate value assessment. In view of the situation of the securities market in present, this paper makes a detailed analysis for the influence factors of investment value and lays a theoretical foundation for the following analysis.Secondly, this paper analyzes influence factors of value investment of listed companies in China's steel industry qualitatively and dissertates from both macro and meso level in detail respectively, which can make the investors wake up to the surroundings of steel industry, future trends and competitive structure, etc, so as to provide guidance for investors'rational investment.Thirdly, according to the principle of comprehensive evaluation system of investment value and characteristics of steel industry, establishes a comprehensive evaluation system of listed companies in steel industry. By using statistical factor analysis method, makes a comprehensive evaluation of 25 listed companies in steel industry, so as to complete a synthetically arrangement for listed companies'investment value and obtains several companies with higher investment value which can provide investors reference for decision-making.At last, using free cash flow model of company analyzes a case of Baosteel Group. By analyzing the company's value and estimating the fluctuating range of stock price by sensitivity analysis, this paper gets the results of the intrinsic value of baosteel Group. Then, from the angle of state ,listed companies and investors, puts forward relevant countermeasures and Suggestions for ascending investment value of listed companies in steel industry.