Browsing by Author "Gomes, Francisco Emanuel Saraiva Ramos Moreira"
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- Equity valuation research : Corticeira Amorim SGPS S.A.Publication . Gomes, Francisco Emanuel Saraiva Ramos Moreira; Martins, José Carlos TudelaEvery single existing asset has value, including companies. The main purpose of Equity Valuation is to determine, at a given time, the value of a specific company, taking into account its past, present and future expected performance, as well as its market position and assets. Thus, Equity Valuation turns out to be very useful namely because it allows investors to take better informed investment decisions. To perform a true valuation, the implied assumptions must hold and be consistent to obtain a trustworthy and reliable scenario of the company’s reality. A good valuation needs to consider both internal and external factors that influence, positively or negatively, the company’s performance during its professional activity. It is also important to state that there are a large variety of possible valuation methods, which will result in different results and with different accuracy. The present dissertation is an Equity Valuation of Corticeira Amorim GSPS S.A., the world’s biggest cork-transforming company and the most international Portuguese company. While many companies have failed to survive to the financial crisis, Corticeira Amorim managed to succumb it due to its sustainable growth over time. Moreover, after analyzing the company’s financial statements, its consistently positive results are noticeable. Having said so, it appears to be a good company to invest in, as its recent and future expected performance seems to be aligned with investors’ expectations. This dissertation aims to suggest investors as to whether they should invest, or not, in Corticeira Amorim, taking into account its estimated market value.