Mengniu Dairy Enterprise Value Evaluation

Investment value research is to evaluate the operation and management effect of an enterprise and its inherent value,pay attention to the status of the enterprise's past operation,current profitability,potential for future development,is the most important standard for the evaluation of enterprise performance,but also the basis and premise for all economic activities.At present,along with the rapid development of economy,each industry is faced with crisis of excess production capacity,and with the population growth and urbanization level,the dairy industry development space is huge,countries have introduced about the development of the dairy industry related policy and fully open after the two-child policy,many surplus enterprise transformation for dairy enterprises,dairy industry ushered in the new opportunities and challenges.Therefore,how to use scientific and appropriate methods to research and summarize the investment value of dairy enterprises is a practical problem that investors and consumers urgently hope to solve.This paper chooses Mengniu group as the object of analysis to explore whether Mengniu group has inherent investment value.Firstly,the background environment of Mengniu group is briefly analyzed,and the free cash flow discount model is confirmed as the basic model of this paper,and the evaluation idea based on this model is established.The value of the enterprise is evaluated in three stages and the results are analyzed.By comparing the results of the enterprise value evaluation with the actual market value of Mengniu enterprise,the validity and rationality of the free cash flow discount method of the company were verified,and the impact of the sustainable growth rate on the enterprise value(or stock price)was smaller than that of WACC.By evaluating the enterprise value of Mengniu,the research on the value evaluation of dairy enterprises is enriched,and at the same time,it provides reasonable and effective application basis for the management and investors of Mengniu,which has very important theoretical and practical significance.