This master's degree final work in Finance, carried out in the form of an Internship Report, aims to present part of the work developed in the internship made at Triple A - Capital & Finance and to obtain the real valuation of the company present in this case study. For confidentiality reasons, the company name is fictitious, and it's called Wine Company S.A. To value the company, two valuation approaches were used, the Discounted Cash Flow method, through the Free Cash Flow to Firm, and the Relative Valuation, using Multiples, since they were the methodologies used in the valuation report requested by the company. Initially, to assess the methodology that was best suited for the business of the company under study, a literature review was carried out on the valuation methods mentioned previously and the ones systematized by Damodaran (2006). Then, a consolidation was made between the concepts of the literature review, with the respective valuation methodologies and the data provided by the company. We obtained a company value for Wine Company S.A., similar in both methodologies. Knowing that there isn’t a perfect model to arrive at an exact value when it comes to valuation, weighting results obtained we can say that the company value is roughly nine million and seven hundred thousand euros. Finally, using information provided by the company, in the literature review and the know-how of Triple A - Capital & Finance, we considered that the Discounted Cash Flow method was the one that best fitted the business typology, but still used the Relative Valuation as a comparative methodology.
|Date of Award||11 Jul 2022|
- Universidade Católica Portuguesa
|Supervisor||Álvaro José Barrigas do Nascimento (Supervisor)|
- Discounted cash flow
- Relative valuation
- Asset-based valuation