Research On The Valuation Of New Energy Enterprises Based On The Revised EVA Model

With the rapid development of the global economy,guided by the new energy industry,the development of industry in a green direction has become a consensus,which has brought opportunities for the development of new energy enterprises,many companies actively seize market share,various mergers and acquisitions activities are also increasingly intense,the importance of enterprise value is increasingly prominent.The use of reasonable value assessment methods is the key to influence the valuation of new energy enterprises,which is related to the decision-making of enterprise management and information users.The traditional value assessment methods cannot accurately reflect the value of the company,so this paper studies the value assessment model of new energy enterprises on the basis of relevant theories,and attempts to construct a value assessment model that meets the characteristics of new energy enterprises.Based on the analysis of the meaning of EVA,the content of value assessment and other theories,this paper studies the valuation of new energy enterprises based on EVA.The EVA value method is compared with the traditional valuation method,and the result shows that the EVA method is more suitable for the value assessment of new energy enterprises.At the same time,in view of the shortcomings of the traditional EVA value method,by analyzing the value influencing factors of new energy companies,non-financial factors such as product research and development,human resource efficiency,macro policy,operation and strategy are introduced,and they are combined with financial factors for valuation.AHP,or analytic hierarchy method,was used to determine the index weight and coefficient,so as to reconstruct the EVA valuation model.In order to confirm the improved valuation model,this paper uses the case study method to study Goldwind Technology as the research object.Through the analysis of Goldwind’s business status and development prospects,combined with the financial data from 2017 to 2021,the EVA value in the next five years is predicted and analyzed from the stage of rapid development and stable development,so as to calculate the value of the enterprise,and calculate the comprehensive value of the enterprise according to the improved EVA model,the valuation results are compared with those using the relative valuation method and the traditional EVA valuation method.The result shows that the revised EVA valuation model can better reflect the enterprise value of Goldwind,and the deviation from the market value is lower,which also provides a basis for new energy companies to assess the EVA value,indicating that we can’t ignore the non-financial factors when conducting the valuation.