Investment Value Analysis Of Listed Companies In Pet Food Industry

China's capital market has developed rapidly since its establishment.At present,there are more than 3,500 listed companies in China's two cities,covering all walks of life.In recent years,with the degree of opening up of China's capital market and the strengthening of investment institution and supervision,the concept of value investment has gradually gained popularity.The theory of value investment holds that in the long run,stock prices will fluctuate around the intrinsic value of stocks,and it is impossible for stock prices to deviate from the intrinsic value in the long run.Value investing argues that focus on the management circumstance of the enterprise itself,through the analysis of the listed company's industry prospects,industry structure and enterprise management,fundamental analysis,the intrinsic value of the scientific evaluation of enterprise and determine the margin of safety,seek fundamentally sound reasonable price in the stock market's mark,found value so as to obtain investment returns.Therefore,it is of great significance to analyze the intrinsic value of enterprises with the guidance of value investment theory and guide investors to form correct investment ideas,which is not only conducive to promoting the development of China's securities market,but also to helping investors to share the economic achievements of China.Pet industry mainly includes upstream pet breeding,trading,midstream pet food,supplies,downstream pet services.Zhongchong main business is the research and development,production and sales of pet food.Based on the value investment theory as the instruction,choose a pet in the pet food industry outstanding enterprises in yantai food,first of all in the pet co's pet in the pet food industry analysis as well as to share their business and financial analysis,on the basis of the forecast of pet stake in the future,the development trend of the free cash flow valuation model and p/e ratio method is adopted to evaluate in pet stock intrinsic value.According to the research,from the fundamental point of view,pet food industry has a strong growth attribute,zhongchong shares have a good development,good financial situation,the enterprise strategy is advancing steadily,the development prospect has imagination,has investment value;From the perspective of valuation,the investment value of zhongchong shares is underestimated and has investment value.