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Abstract(s)
This analysis provides a stock valuation of The Linde Group, a
Germany based Industrial Gases company and one of the main
players within this industry worldwide. After reviewing the most
recent literature in terms of valuation, two different methods,
namely the DCF Valuation and the Multiple Approach, are applied to
determine the enterprise- and equity value of the company. Further
insights are provided through a sensitivity analysis, giving more
information about the main drivers for the obtained valuation of
Linde. Finally, the results are compared to the estimations of Morgan
Stanley, summarizing and explaining the main differences and their
origins.