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The present dissertation aims to value the Dutch retailer group, Koninklijke Ahold NV (Ahold), implementing the theory of equity valuation. An efficient combination between theory and practice should be implemented throughout the valuation in order to obtain the most accurate result that can be complied with reality. This paper starts to introduce which different frameworks are available, explaining afterwards, which are the most relevant for the valuation of the referred company. Ahold was valued as the sum of parts of the different business geographies in which the company currently operates, using the Discounted Cash Flow approach and the Multiples valuation. Lastly, the results are compared with an investment bank research note where the divergences will be analyzed and explained.