Research On The Value Assessment Method Of Coal Enterprises

At present,more and more companies have chosen to go public in order to obtain a variety of funds,and mergers and acquisitions between companies have also emerged in an endless stream.How to reasonably estimate the value of the acquired company's enterprise in the merger and acquisition? How to judge whether the listed company's stock price reasonably reflects the current status of the company,and whether there is an overestimate or an underestimate?Therefore,for investors,the correct assessment of the value of the investment project is the first step in the success of the investment.A reasonable method of corporate value assessment not only helps investors to obtain investment with the least cost,but also helps protect the interests of the investment target itself.Coal enterprises have always been the pillar industries of the country's economic development.Coal resources are also non-renewable depletion resource assets.What kind of method to choose to evaluate the value of coal companies has practical significance for the development of coal companies.Based on the characteristics of the coal enterprise itself,this paper attempts to study the evaluation methods applicable to coal companies,and tries to put forward their own suggestions on the methods of evaluating the value of coal enterprises and the accuracy of the methods.This paper mainly focuses on the Yanzhou Coal Industry in coal enterprises,and tries to study the value evaluation methods suitable for coal companies.In theory,firstly introduce the relevant concepts and theoretical basis of enterprise value assessment,and compare the three traditional methods of value assessment;second,introduce the characteristics of coal enterprises and the application of three value assessment methods in coal enterprise value assessment.The conclusion that the method of appraising the value of market law under the current economic environment of coal companies is more appropriate.In practice,this article uses Yanzhou Coal as a case enterprise and uses the income method and market method to evaluate Yanzhou Coal.Firstly,the future profitability and debt repayment ability of Yanzhou Coal were analyzed based on the historical data in Yanzhou Coal's annual report for the past five years.Secondly,thevaluation of Yanzhou Coal was evaluated using the physical cash flow discount method and the market method.Considering the applicability analysis of the application of the income method and the market method valuation for coal companies,and according to the calculation results under different methods,we can see that the valuation of Yanzhou Coal Industry should use the market method to more reasonably reflect its corporate value.The market rate model in the market method is more suitable for coal enterprises with a larger proportion of fixed assets.