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Valuation of the Company Using the Discounted Cash Flow Model

Proceeding
DOI: 10.31483/r-108668
Open Access
All-Russian Scientific and Practical Conference «Modern trends in management, economics and business: from theory to practice»
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Published in:
All-Russian Scientific and Practical Conference «Modern trends in management, economics and business: from theory to practice»
Author:
Ekaterina V. Pariugina 1
Scientific adviser:
Iuliia S. Tsertseil1
Work direction:
Финансовые аспекты развития предпринимательства
Pages:
245-247
Received: 7 November 2023

Rating:
Article accesses:
1094
Published in:
РИНЦ
1 FSBEI of HE "Plekhanov Russian University of Economics"
For citation:
Pariugina E. V. (2023). Valuation of the Company Using the Discounted Cash Flow Model. Modern trends in management, economics and business: from theory to practice, 245-247. Чебоксары: PH "Sreda". https://doi.org/10.31483/r-108668

Abstract

The article considers the process of assessing the value of a company using the discounted cash flow model within the framework of the income approach. The author describes the theoretical foundations of the discounted cash flow model and compares the features of different approaches to this method in the modern literature. The author carries out the detailed company valuation using the discounted cash flow model on the example of the company «X5 Group». The author assessed the value of the company «X5 Group» using the discounted cash flow model. The real example of the company valuation shown in the article is useful for the company for making managerial decisions in the future.

References

  1. 1. Federal Law No. 135-FZ of 29.07.1998 (as amended on 13.06.2023) «On Valution Activities in the Russian Federation» from https://www.consultant.ru/
  2. 2. Федеральный закон «Об оценочной деятельности в Российской Федерации» от 29.07.1998 №135-ФЗ (последняя редакция) [Электронный ресурс]. – Режим доступа: https://www.consultant.ru/
  3. 3. Order of the Ministry of Economic Development of the Russian Federation No. 200 dated April 14, 2022 «On Approval of Federal Valuation Standards and on Amendments to Some Orders of the Ministry of Economic Development of the Russian Federation on Federal Valuation Standards» from https://www.consultant.ru/
  4. 4. Федеральный стандарт оценки «Структура федеральных стандартов оценки и основные понятия, используемые в федеральных стандартах оценки (ФСО I)» [Электронный ресурс]. – Режим доступа: https://www.consultant.ru/
  5. 5. Chugunova I.V. Business valuation: A textbook for students of economic fields / Rubtsovsky Industrial Institute. – Rubtsovsk, 2020 from https://yandex.ru
  6. 6. Damodaran Aswath Valuation from valuation.ppt (date of application: 15.10.2023).
  7. 7. Esipov V.W. Business assessment: educational tools / V.W. Esipov, G.A. Makhovikova from Оценка-бизнеса_Под-ред.-Есипова-В.Е-Маховиковой-Г.А_2010.pdf (date of application: 15.10.2023).
  8. 8. Fernandez P. Company valuation methods. The most common errors in valuations from Microsoft Word – DI-0449-E.doc (date of application: 15.10.2023)
  9. 9. Gryaznova A.G., Fedotova M.A., Eskindarov M.A., Tazikhina T.V., Ivanova E.N., Shcherbakova O.N. Valuation of an enterprise (business): textbook for students of higher educational institutions studying in economic specialties from https://yandex.ru (date of application: 15.10.2023)
  10. 10. lyubova O.V. Business valuation and company value management: an educational and methodological guide for students – Naberezhnye Chelny, 2019 from UMP_OBiUSK_38.03.02.pdf (kpfu.ru)
  11. 11. Annual report of the company «X5 Group» - 2022 from https://www.x5.ru/wp-content/uploads/reports/2022/ (praxisgroup.ru)
  12. 12. Consolidated financial statements of the company «X5 Group» - 2022 from https://www.x5.ru/wp-content/uploads/reports/2022/
  13. 13. Official website of the company «X5 Group» from https://www.x5.ru/ru/investors/dividends/
  14. 14. Official website of the Bank of Russia from https://www.cbr.ru/hd_base/infl/
  15. 15. «Forbes» rating of 200 largest Russian private companies from https://www.forbes.ru/biznes/440795-200-krupnejsih-castnyh-kompanij-rossii-2021

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