Equity valuation

: Koninklijke Philips N.V.

Abstract

Value creation study is still a pertinent subject and in this dissertation I went through value creation for equity holder’s perspectives concluding that the variety of equity valuation model can reflect the fair value if correct assumption are done. A depth analysis on the financial statement and economy development drove sense of the actual conditions of the market and expected pace of growth. Using the fundaments of Adjusted Present Value, Koninklijke Philips N.V. value was studied reaching the conclusion that in the end of May 2015 it was undervalued considering 6.31 percent as the discount factor and 0.9 percent as the steady state terminal growth.

Date of Award	2015
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	José Carlos Tudela Martins (Supervisor)