The Research Of The Enterprise Value Assessment For WDJT Corp. Based On Income Approach

Along with the continuous development and progress of socialist market economy of our country, and the deepening reform of state-owned enterprises, the growing maturity of the property market, people gradually realize that the enterprise can be traded and estimated as a special commodity in the market. The rapid development of the stock market and the capital market makes it easier for the enterprise to flow among the different owners. In recent years, mergers, reorganization, joint, transfer of equity, the increase in assets, the expansion of share capital between the enterprise have become increasingly frequent, and the achievement of these economic activities need to evaluate the value of the enterprise, thus the enterprise value assessment is increasingly important.In addition, the financial management thought of "shareholder wealth maximization" in the goal of enterprise are more and more recognized by the industry experts, widely used in the practice of enterprise management. And in the assumption that the shareholders' investment capital and the value of the debt are unchanged, the maximization of enterprise value and addition of shareholder wealth have the same meaning. The maximization of enterprise value has become an important standard to measure a company's operating results, and it is also the basis and premise of enterprise's management behavior. Therefore the enterprise value assessment is accurate or not which is increasingly concerned by enterprise managers, investors, banks, government regulators and the public.This paper sorts out the development status of enterprise value evaluation at home and abroad, through the theory and practice to understand the enterprise value evaluation, establish the enterprise value point of view, and puts the enterprise value into the political and legal, economic, social, technological macro environment to consider. And this paper makes a comparative analysis of the theories and methods of enterprise value evaluation, points out their respective advantages, applicability and limitation, and takes WDJT Corp. which is the representative of the enterprise in manufacturing as a case, uses the free cash flow discount model in income approach to evaluate the enterprise value. In this paper, the evaluation results are analyzed and evaluated, and the conclusions are drawn and suggestions are put forward for the future application of the income method to provides an important reference basis for the enterprise value management, investors, corporate banking, social public who concerns the interest of the company to make reasonable decisions and to promote income method in the practice of evaluation.