Sinopec Investment Value Based On The Dcf Model Analysis And Comparative Study

With the deepening of reform and open, it is preliminary to setting-up of the market economic system. M&A is active more and more. The investment consciousness is strengthened constantly. These fields need carry on valuation to enterprise. At present valuation theory and method system form to initial stage of reform and open, It played a due role in certain historical period. But with market economic system gradual to perfect, The economies of China incorporate international economy quickly more and more, Valuation theory and method system do not satisfy economy change of new periods. Valuation theory and method system should accelerate the paces in line with international standards.The text leaves foundation on enterprise valuation theory and analysis differences between the relevant concepts. After surveying basic method of valuation, it assesses of values of Sinopec. It combines valuation theory and method with case, hold enterprise the intention of value accurate, keep their one' s own value in fierce market, and realize its value appreciation constantly. This text divides three chapters altogether, every chapter main content is the following:Chapter one, Explain with the nature of the enterprise, relevant theory that the value foundation of the enterprise and enterprise value are assessed,Chapter two, Recommend the methods of the mainstream to valuation, including current market price model, the relative comparative model, discounted cash flow model and option price model, and analysis the suitable conditions.Chapter three, It is introduce Sinopec and it's competitive advantage.Chapter four, Regard Sinopec as example, use discounting cash flow model assesses at the stock values of Sinopec.Chapter five, TO compare Sinopec stocks inherent values with the prices of Mainlands New York and Hong Kong , And analysis the reason why stock price and value deviate from .