The Research On The Application Of Real Option Method In Valuation Of Meituan Company

With the rapid development of economy and technology and the continuous penetration of network,"Internet+" has been highly integrated with the real economy,and a large number of novel types of enterprises have emerged,and platform enterprises,as an important organizational carrier of the new economy,have made important progress in the development of enterprise level and social level,making great They have made great contributions to China’s economic development.Due to the characteristics of platform-type enterprises,such as the proportion of intangible assets and the uncertainty of future market development,there are limitations in using traditional value assessment methods to evaluate platform-type enterprises alone,while the real option method incorporates uncertainty into the reference range.Therefore,this paper combines the advantages of traditional valuation methods and the real option method to conduct a comprehensive valuation of platform-based enterprises,in order to explore the applicability of the real option method in the valuation of platform-based enterprises,and hopefully to give reference to the valuation of the same type of platform-based enterprises.This paper takes Meituan as a case company,and firstly,the theories related to enterprise value assessment,traditional enterprise value assessment methods and the real option method are sorted out to provide a certain theoretical basis and ideas for the following study;secondly,the applicability of the real option method in the value assessment of platform-based enterprises is analyzed,and a suitable method is selected to build a value assessment system to provide a suitable model for the enterprise value assessment of Meituan.Then,the two estimation results are combined and compared with the current market value of the enterprise for verification,and the analysis shows that the real option method has certain advantages in estimating platform enterprises with high development potential and can improve the estimation results.The analysis shows that the real option method has certain advantages in measuring platform enterprises with high growth potential and can improve the accuracy of the estimation results.Conclusion:There are significant differences between the traditional enterprise value assessment method and the real options method in terms of parameter selection and application scope;the enterprise value of the platform enterprise Meituan consists of the going concern value and the option value,and in the actual estimation,combining the traditional enterprise value assessment method and the real options method to value it can improve the accuracy of the results,and the use of the real options method can make up for the shortcomings of the The use of the real option method can make up for the shortcomings of the traditional enterprise value assessment method and bring a new way of thinking and method for the valuation of enterprise value of platform enterprises.Subsequently,the following recommendations are made:first,the real option method should be improved according to the target enterprises;second,the reasonableness of parameter selection should be considered;third,sensitivity analysis should be conducted on the selected parameters to verify the stability of the valuation results;and fourth,the real option method needs to be complementary to the traditional enterprise value assessment method.