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2014-07-31
如题,都说估值是看未来净现金流的贴现,但是要怎么给一个只有现金的公司估值呢?比如一家公司总资产=净资产=100元存折,利率是10%,这家公司的估值是多少呢?谢谢
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2014-7-31 23:57:23
100。因为没现金流,这公司和存折没区别。
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2014-8-1 00:27:06
Hi buddy,
Let's work together and try to figure it our, OK?

First, you want to know how to evaluate an entity has nothing but cash via NPV method, right?

I assume you can still do it with the model.

Actually, you can refer a bank evaluation.
Normally speaking, it has nothing but cash or cash equivalent.
It is still eligible to be evaluated via NPV.
You project your pro foma cash flow statement in the near future;
then, you figure out your capital structure and correspondent capital price (i).
The rest is pretty similar with what you have done with other normal practice.

If your question is,
how do you evaluate an entity which has nothing but a $100 bill or deposit card with sufficient balance on it, you have my attention now.

Normally speaking, the number on your balance is the absolutely value of your business.
The valuation is 100% assured.

Here is the key issue,
A business is normally a on going process.
To survive all kinds of risk, it needs to exchange its resource with outside resource continuously.
The projected cash flow statement is the most approximate description about its future outcome in the finance world.

If your entity ceases operation, just holding a $100 bill in your hand.
That's the value of your business, no problem about it.
Since no further option, the net value will have nothing to do with the discount rate, since no future cash flow will incur.

I hope this help,
what's your opinion, buddy?
Thank you.

  
   
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2014-8-1 00:28:02
Hi buddy,
Let's work together and try to figure it our, OK?

First, you want to know how to evaluate an entity has nothing but cash via NPV method, right?

I assume you can still do it with the model.

Actually, you can refer a bank evaluation.
Normally speaking, it has nothing but cash or cash equivalent.
It is still eligible to be evaluated via NPV.
You project your pro foma cash flow statement in the near future;
then, you figure out your capital structure and correspondent capital price (i).
The rest is pretty similar with what you have done with other normal practice.

If your question is,
how do you evaluate an entity which has nothing but a $100 bill or deposit card with sufficient balance on it, you have my attention now.

Normally speaking, the number on your balance is the absolutely value of your business.
The valuation is 100% assured.

Here is the key issue,
A business is normally a on going process.
To survive all kinds of risk, it needs to exchange its resource with outside resource continuously.
The projected cash flow statement is the most approximate description about its future outcome in the finance world.

If your entity ceases operation, just holding a $100 bill in your hand.
That's the value of your business, no problem about it.
Since no further option, the net value will have nothing to do with the discount rate, since no future cash flow will incur.

I hope this help,
what's your opinion, buddy?
Thank you.

  
   
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2014-8-1 09:46:46
cpamodeler 发表于 2014-8-1 00:28
Hi buddy,
Let's work together and try to figure it our, OK?
Be  careful about your grammatical errors.

you can refer a bank evaluation.
I don't understand what refer means here. Even if it is correctly used, you should use refer to.

The rest is pretty similar with what you have done with other normal practice.
similar to is much better.

since no future cash flow will incur.
occur

I hope this help,
helps


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2014-8-11 17:12:29
soar1120 发表于 2014-7-31 23:57
100。因为没现金流,这公司和存折没区别。
额不好意思啊。。我对这个不是很懂但存折不是未来每年也会带来利息收入么?为什么说没有现金流呢?
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