Research On Value Of MG Enterprise Based On EVA

With the continuous development of society and economy,enterprise stakeholders have an increasing demand for information.They hope to obtain more high-quality enterprise information so as to understand the real value of enterprises.Therefore,how to evaluate enterprise value more accurately has become an important work in enterprise value evaluation analysis.The improvement of economic level is bound to be accompanied by the continuous improvement of people's requirements for the quality of life,and dairy products can be said to be the necessities of life at present,and China has a large population and a large demand for dairy products,so the market prospect of the dairy industry is still very broad.As one of the representative enterprises in the dairy industry,MG dairy industry has seen a slight decline in performance in recent years.Therefore,this paper chooses MG dairy industry in the dairy industry as the research object and evaluates the value of MG dairy industry by EVA method.Selecting a suitable evaluation method to make an effective and reasonable evaluation of the value of the enterprise can screen out the undervalued enterprises for investors in the market,so as to make rational and efficient investment and reduce investment risk.For enterprise managers,the ultimate goal of enhancing enterprise value,long-term development and maximization of shareholder wealth can be realized.Firstly,this paper reviews relevant literature about EVA at home and abroad,then discusses relevant theories of enterprise value,and compares the advantages and disadvantages of traditional value evaluation method and EVA method.Then the enterprise status and EVA model of MG dairy industry are introduced.Second to EVA evaluation method in accounting adjustment principle,program and the corresponding adjustment method has carried on the detailed analysis,combined with publicly available data and literature materials,according to the actual enterprise and industry characteristics of r&d spending and reserves adjusted accounting subjects,the weighted average cost of capital is determined at the same time,in order to improve the accuracy,short term and long term loan interest rate is the people's bank of China benchmark lending rate.Accordingly according to the calculation formula of EVA value evaluation: net operating profit after tax deduct all the cost of capital,to calculate its history of EVA,and predicts its rapid growth and stable growth of EVA value,and use the EVA of two-stage growth model to evaluate the enterprise value,budget out the appraisal base date of enterprise value is about 14414637527 yuan,and itsstock market value of 13469362599 yuan,both difference rate of 7%,is given to illustrate the effectiveness of the EVA to the evaluation result.Finally,according to the process and results of enterprise value assessment,the paper gives some Suggestions on how to improve the enterprise value of MG dairy.