Muyuan Shares Based On Optimized EVA Valuation Model Intrinsic Value Evaluation Researsh

Our country has now entered the era of "industry nurturing agriculture" and is shouldering the great mission of rural revitalization.Agriculture,as the primary industry,its basic status determines the people’s living standards,social security and stability and the development of the national economy,and directly affects whether a well-off society can be built in an all-round way.However,at this stage,the level of agricultural production in my country is still relatively backward,and the infrastructure is also very weak.Therefore,the Party Central Committee and the State Council attach great importance to the development of my country’s agriculture and formulate a series of policy measures to promote the revitalization and development of the agricultural industry.With the support of more and more national funds and the investment of social capital,how to choose an agricultural enterprise with good development prospects and strong market competitiveness has become a topic of concern to investors.At this time,the research on the intrinsic value of agricultural enterprises is particularly important.This article takes the leading company in the aquaculture industry-Muyuan shares as an example,adopts a combination of quantitative,qualitative analysis and case studies,and tries to construct an EVA-based agricultural enterprise value evaluation by analyzing the EVA value evaluation model and combining the characteristics of agricultural enterprises.Model and apply it to the evaluation of the intrinsic value of Muyuan shares.Through the analysis of agricultural listed companies,the EVA two-stage valuation model is selected,and the market method is combined with the market method for the shortcomings of the model,and the market correction coefficient is introduced to optimize the EVA valuation model.The evaluation result is based on the overall level of the industry.And the enterprise value under market evaluation guarantees a certain degree of objectivity.It is calculated that the intrinsic value of each share of Muyuan shares is 89.19yuan/share,and the company’s stock price is 77.10 yuan/share as of december 31,2020.The stock price of Muyuan shares may be undervalued.However,the results are not much different and confirm the applicability of the EVA evaluation model for listed agricultural companies.In the later period,due to the release of live pig production capacity and the increase in feed prices such as corn and soybean meal,live pigs continued to decline,and Muyuan’s stock price also fell all the way.Despite this,Muyuan still had a profit of nearly10 billion in the first half of 2021,showing a strong Anti-risk ability and operational management ability.Afterwards,using sensitivity analysis,it was found that the necessary rate of return of the market had a greater impact on the intrinsic value.Finally,based on the analysis of the full text and the current market environment for live pigs,it was proposed to broaden financing channels to reduce financing costs,use pig futures to hedge,and improve the pig industry.The intrinsic value enhancement strategy of the chain also believes that Muyuan shares have certain investment value as a medium and long-term.