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The valuation method of this article is completely in accordance with the operation of mergers and acquisitions of listed companies, and the gold content is very high, and the value of this valuation method and results is at least 100,000 yuan. Let's get down to business.
1. First of all, it is clear that the valuation methodIncome method is the most commonly used valuation method for mergers and acquisitions of listed companies, followed by the asset base method, and finally the market method (comparable price-earnings ratio.
The China Securities Regulatory Commission does not recognize) income method valuation: the value of the appraisal object is determined by capitalizing or discounting the expected income of the assessed enterprise; Asset-based valuation: Determine the value of the appraisal object on the basis of a reasonable appraisal of the assets and the value of the enterprise; Market Method Valuation:
The target will be assessed with reference companies, companies with existing transaction cases in the market, and shareholders' equity.
** and other equity assets to determine the value of the appraisal object. Major asset restructuring in 2017.
Placement Asset Valuation Method Conclusion Distribution Income Method: 66% Asset Base Method: 28%; Market method: 6%.
2. Determine that the transaction valuation is less than 15 times the price-earnings ratio, and in practice, the ratio of the transaction valuation to the ** profit in the first year of the VAM period is usually not more than 15; Of course, if it constitutes a backdoor listing, it can be relaxed to 20 times. The company's net profit.
is 15 million, ** net profit growth rate of 15% in the next year (higher growth rate must give the rationality of the growth rate, otherwise it is difficult for the CSRC to pass, once it is missed, it is an opportunity, and the waste is the cost of time), then the company's valuation.
The upper limit is: valuation upper limit = 15 million yuan * (1 + 15%) * 15 = 100 million yuan Therefore, if your company is acquired by a listed company, then the upper limit of valuation is 100 million yuan.
On the other hand, if your net profit is audited in accordance with the requirements of the listed company, the profit of 15 million is a question mark, whether your social security is paid in full according to the law, whether your depreciation and amortization is implemented in accordance with the accounting rules, etc., and the net profit that can finally be recognized by the listed company will definitely be discounted, so the valuation of 100 million is your upper limit. Focus on small and micro enterprises.
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The purchase price is about 300 million yuan. The net profit is 15 million, and the acquisition is carried out according to the valuation of 20 times, so it can be concluded that ** is 3 billion. Of course, business valuations vary from industry to industry.
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If it is acquired, the approximate purchase price is between 450 million yuan, because its annual output value can reach about 100 million yuan, it means that its profit margin is very large.
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According to this profit margin, it proves that the company still has a lot of profit margins, but the purchase price has to be determined according to the market, and the purchase price is expected to be about 500 million.
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At least more than 5 billion, depending on the company's fixed assets and brand value, if there are more fixed assets, it may be higher.
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If a company makes a profit of 2 billion a year, the market value is about 40 billion.
Market capitalization refers to the total value of the issued shares of a listed company calculated by the market, which is calculated by multiplying the market per share by the total number of shares issued. The sum of the market value of all listed companies in the whole market is the total market capitalization. As the market capitalisation is calculated on the basis of the closing price of the listed company, the figure will fluctuate with the rise and fall of the stock price, which also reflects the trading sentiment in the investment market and the latest valuation of the company.
Market value management is based on value management and is an extension of value management. Value management is mainly committed to value creation, while market value management should not only be committed to value creation, but also value realization.
Value management is a management system based on maximizing the value of the company's shareholders and emphasizing value creation. A company's focus on shareholder value creation can effectively balance the conflicting interests of different stakeholders. In other words, shareholder returns are primary, because only the best shares can get enough returns, and the company can be affected by the capital market.
multiply (1 - income tax rate);
2. Total profit = operating profit + non-operating income.
non-operating expenses;
3. Operating profit = operating income.
Cost of doing business - taxes and surcharges.
Selling expenses - administrative expenses - R&D expenses - financial expenses + other income - asset impairment losses.
Fair Value Change Gain - Fair Value Change Loss + Investment Income (- Investment Loss).
Profit is the business result of the entrepreneur, the comprehensive reflection of the business effect of the enterprise, and the concrete embodiment of its final result.
The essence of profit is the manifestation of enterprise profitability, the labor performance of all employees, and the profit obtained by the enterprise for the production of high-quality goods for the market, and surplus value.
In contrast to profits, which are not only qualitatively the same, but also quantitatively equal, profit differs only in the case of surplus value in respect of variable capital and in respect of all costs.
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Summary. If you make 200 million a year, your company should be a medium-sized company after going public. According to the current common Chinese average earnings ratio of 40 times, even if the existing business does not increase, the market value of your company after listing should be about 8 billion.
If you plan to raise funds for a new project investment, the funds raised should be calculated at a price-to-earnings ratio of around 20 times, depending on the size of your new project. Many companies will increase their holdings when the company's stock price is too low, or declare that they will not increase their holdings for a certain period of time. However, the first ones are a small amount, mainly to boost the confidence of the secondary market.
If the yield of your new project is higher than the current profit margin, then after listing, your holdings will be higher than 8 billion. In addition to being approved, this kind of company must meet certain conditions in addition to being approved for listing and trading on the ** exchange.
If you make 200 million a year, your company should be a medium-sized company after going public. According to the current common Chinese average earnings ratio of 40 times, even if the existing business does not increase, the market value of your company after listing should be about 8 billion. If you plan to raise funds for a new project investment, the funds raised should be calculated at a price-to-earnings ratio of around 20 times, depending on the size of your new project.
Many companies will increase their holdings when the company's stock price is too low, or declare that they will not increase their holdings for a certain period of time. However, the first ones are a small amount, mainly to boost the confidence of the secondary market. If the yield of your new project is higher than the current profit margin, then after listing, your holdings will be higher than 8 billion.
In addition to being approved, this kind of company must meet certain conditions in addition to being approved for listing and trading on the ** exchange.
That has not yet been issued**, how can the annual profit of 200 million have a market value of 8 billion.
This is just a rough estimate.
But it's not much **, how can there be a 200 million profit and 8 billion market value.
I've heard others say that the market value can only be known if there is a lot of money left after the issuance of **.
This involves my knowledge blind spots<>
Wait for me to look it up.
Please wait. That's the case, generally look at your ** findings first, and then calculate your ** value at the end.
You can refer to it.
So what should be done, in order to be worth hundreds of billions after listing with Pinduoduo.
It depends on the market capitalization.
If the annual profit is 10 billion, after listing, will there be a market value of 200 billion, and if so, 50% of the registered capital should be worth 100 billion.
If you go public on the NASDAQ and want to issue 1 billion shares, can you?
It's up to the person to do it.
I haven't touched on this experience, and I can't be accurate with you.
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Summary. Dear, hello, I am glad to answer for you that the net profit of 20 million is the company's valuation of 60 million. According to different profit algorithms, the valuation of a company with an annual profit of 2 million is not the same, if it is calculated according to the comparable earnings ratio method, the valuation of the company is 20 million, if it is calculated according to the net profit, the valuation of the company is 60 million.
It is not a sales profit margin, such as an investment of 500 million, sales of 40 million, net profit of 20 million, and the return on investment is 4%. For example, the capital is 100 million, the bank loan is 400 million and the interest rate is 6%.
Production and sales enterprises, 80% of foreign sales, 20% of domestic pro, hello, I am happy to answer for you the net profit of 20 million public Li Si valuation is 60 million. According to different profit algorithms, the valuation of a company with an annual profit of 2 million is not the same, if the comparable earnings ratio method is followed, the valuation of the company is 20 million, and if it is calculated according to the net profit, the valuation of the company is 60 million. It is not a sales profit margin, such as an investment of 500 million, sales of 40 million, and a net profit of 20 million, and the return on investment is 4%.
For example, the capital is 100 million, the bank loan is 400 million and the interest rate is 6%.
Such a simple question, why are you so slow?
That's to press triple.
Be. I see that we, the listed companies in the same industry, are already valued at 25 times.
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Summary. This is not proportional, not to say that the profit of 200 million is 20 times, some have a high market value, the profit is still a loss, for example, two at the same time have 200 million assets, to invest 4 billion, your market is high, others are to buy shares, all come to buy, then your market value is high, consulting record ยท on 2022-02-09
The jury is out. JD.com's market value is also quite high, but if I'm not mistaken, his net profit should be negative....The maximum market capitalization is determined by the market, and if the market performs well, it will be high. Personally, I think that looking at its total operating income and total market value has more to do with it.
For example, if a company's total annual operating income is 20 billion, even if the profit is not high, the market value will be very large, if the market value is smaller than the operating income, it means that its stock price is undervalued.
Let me ask you, with an annual profit of 200 million, what is the market value after listing?
The annual profit is 200 million, and the listing is normally about 400 million.
Why do others say that the profit of 200 million can be 20 times the market value of 4 billion after listing?
This is not proportional, not to say that the profit of 200 million listed is 20 times, some of the market value is high, the profit is still a loss, for example, two at the same time have 200 million assets, to invest 4 billion, your market is high, others are to buy shares, then your market value is high, but in the end the annual profit of 200 million, how high is the market value.
This is the listing **, the market value is 10 billion, the stock price is high, the market value is high, and the most important thing is the total turnover.
The stock price is worthless, and it is several times the market value.