New Energy Enterprise Value Evaluation Based On EVA

With more and more companies pouring into new energy markets,mergers and acquisitions are becoming more and more frequent in order to gain more market share.How to evaluate the value of the enterprise objectively and understand the development prospect of the enterprise has become a major concern for many investors and managers.However,there is no applicable evaluation method for the value assessment of new energy enterprises in China.If the traditional methods are used,the characteristics of the new energy industry cannot be highlighted.Therefore,based on the analysis of the characteristics of new energy enterprises,this paper tries to find the methods and models for the value assessment of new energy enterprises.Based on new energy enterprises-BYD as the research object,the EVA model in new energy in the enterprise value assessment,describing the new energy enterprise value assessment method,EVA in different stages of the relevant theory and EVA model,on the basis of the first to introduce the connotation of enterprise value,analysis of four kinds of traditional enterprise value assessment method,cost method,market method and income method and option pricing method And then,by analyzing the characteristics of the new energy industry,we analyze four ways to apply to new energy enterprises and conclude that EVA’s value evaluation is more applicable to new energy enterprises;Finally,based on the analysis of the business situation and financial analysis of the BYD company,the EVA value of the history is calculated based on the historical financial calculation of the enterprise,and the AR model in the financial statements of 2017-2022 is used to predict the AR model in the time series model.Finally,the final value of the enterprise is obtained,and the EVA method is more closely related to the market value through comparison with the p/e ratio method.Compared with the stock price of the enterprise,the price of BYD is underestimated,and the error is within a reasonable range.The evaluation result can reflect the enterprise’s value creation ability more objectively and accurately,and provide the basis for the long-term development of the enterprise.Therefore,the conclusion of this paper is that the EVA value evaluation model is applicable to the evaluation results of BYD company.Based on the EVA enterprise value assessment method,this paper selects a representative new energy company-BYD,as the research object to conduct case analysis,which enrich the research system of EVA enterprise value assessment method and its application in the actual enterprise,as well as provides references for the application of EVA evaluation method in the new energy industry,which has a strong theoretical and practical value.