Research On The Evaluation Of Precious Metals Enterprise Based On Improved FCFF Model Illustrated By The Example Of Guiyan Platinum

In recent years,with the rapid development of China’s economy,a large number of enterprises have merged and reorganized,and publicly issued shares for financing to promote better development of enterprises.In these economic behaviors,all involve the pricing of assets,and how to accurately assess the value of the enterprise is critical.In the 21 st century,the rapid development of new generations of information technology,environmental protection,new energy,health,national defense and military industries has accelerated the pace of application of precious metals and new materials in emerging industries.The precious metal industry has become a dynamic and promising strategy.With the merger and reorganization of precious metals companies,investors pay attention to this type of stocks,and the trading of precious metals companies’ assets has become very frequent.In this context,it is very important and necessary to efficiently and accurately evaluate the value of precious metals enterprises to promote better development of enterprises.Based on the basic content of enterprise value assessment,combined with advanced financial management related knowledge,this article conducts research and analysis on the value of precious metal companies,and based on the actual investigation,roughly understands the basic situation of the precious metals group in Yunnan Province.Industry Co.Ltd.as an example to study in depth.The general idea of this paper is based on the characteristics and value influencing factors of precious metals enterprises,combined with the theory of enterprise value evaluation,the FCFF model is selected for the evaluation of enterprise value,and then the impact of nonfinancial factors on corporate value is considered,and the FCFF model is calculated.The value of the company is revised,and the actual intrinsic value of the company is finally obtained.First of all,based on the research background of the valuation of precious metal companies,a comprehensive analysis of the significance of the research in this article is made,and then the relevant literature on corporate value evaluation is summarized.Secondly,it introduces the theory of enterprise value assessment,and focuses on the valuation of precious metals enterprises.The three basic methods and applicability analysis;again,the analysis of the status of the precious metals industry and the factors affecting the value of precious metals companies,determine the income method is the best assessment method,and analyze the income method in detail,and finally choose FCFF(Free Cash Flow for the Firm),the free cash flow model is a model for the valuation of precious metals companies.Finally,since the FCFF model does not reflect the impact of non-financial factors on firm value,the introduction of non-financial factors to adjust the value of precious metals companies can be more realistic.The value of the business.Based on the actual situation,take Guiyan Platinum as an example to analyze the characteristics and parameters of the FCFF model,evaluate the overall value of the enterprise,and quantitatively analyze the impact of non-financial factors on the value of the enterprise.The most real intrinsic value of the business.This paper concludes the following conclusions through related theoretical research and specific case analysis:(1)There are many factors affecting the value of precious metals enterprises,including financial factors and non-financial factors;(2)Using FCFF model to evaluate precious metals enterprises can better reflect their intrinsic value;(3)Taking non-financial factors into account,the error is minimized,and the intrinsic value of the enterprise is more truly reflected;(4)The value basis of the equity transfer of the precious metal enterprise can be provided indirectly;(5)The value of the investor and the manager of the enterprise can be provided.