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Avaliação da empresa fábrica alimentos Guadiana, Lda. com base no modelo do rendimento dos fluxos de caixa atualizados
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Abstract(s)
Todo o território português é constituído na sua maioria por PME, que se caracteriza por esse mesmo facto num mercado com elevada concorrência onde existe uma clara necessidade de distinção entre elas para que possam subsistir. Definir estratégias eficientes e saber tirar o máximo proveito das vantagens competitivas é essencial para garantir o sucesso e a sustentabilidade de uma empresa.
Neste contexto, a avaliação de empresas acaba por representar um papel relevante ao permitir apurar o potencial das empresas para criar valor e definir um valor para que o melhor negócio possível seja realizado entre um vendedor e um potencial comprador.
O principal objetivo deste estudo foi avaliar uma pequena empresa no setor de fabricação de condimentos e temperos através do modelo do rendimento, pelos fluxos de caixa atualizados. As informações recolhidas sobre a empresa e o setor em que a mesma se insere, foram analisadas, e selecionadas as mais relevantes que em conjunto com os pressupostos definidos no processo de avaliação, permitiram aferir o valor final da empresa.
No final, é apresentado o resultado da avaliação da empresa, com base em duas abordagens, nomeadamente: a abordagem dos capitais totais e do capital próprio. O valor da empresa segundo a abordagem dos capitais totais é de 4.045.077€, e segundo a abordagem do capital próprio é de 2.867.090€. Em caso de uma eventual operação de capital, considera-se importante para a empresa deter conhecimento de técnicas e ferramentas que lhe possam ser úteis na perceção do seu valor intrínseco, de modo a deter uma base negocial.
The Portuguese national territory is characterized in its vast majority by small and medium companies (SMC), which creates an environment of high competition between them and where a necessity to be different is demanded in order to survive in the market. It’s important to define efficient strategies and to know how to take the maximum benefit of competitive advantages so that a company can achieve success and sustainability. In this context, company valuations end up representing a very important role by allowing to determine companies’ potential to generate value, and to define a value so that the best deal can be made between a seller and a potential buyer. The main goal of this study is to value a small company that belongs to the manufacture of condiments and spices sector through discounted cash flow model. The data collected about the company and its sector, was analyzed and selected the most relevant ones that together with the assumptions made in the evaluation process, allowed to estimate the company’s value. In the end, the results from the evaluation of the company were presented, based in two different approaches, namely: the approach of equity and the approach of the firm. The company value through the approach of the firm is 4.045.077€, and the equity value approach is 2.867.090€. In the case of a future capital operation, it is considered important that the company has this technical knowledge and tools which may be useful in the perception of its fair value, in order to have a good negotiation basis.
The Portuguese national territory is characterized in its vast majority by small and medium companies (SMC), which creates an environment of high competition between them and where a necessity to be different is demanded in order to survive in the market. It’s important to define efficient strategies and to know how to take the maximum benefit of competitive advantages so that a company can achieve success and sustainability. In this context, company valuations end up representing a very important role by allowing to determine companies’ potential to generate value, and to define a value so that the best deal can be made between a seller and a potential buyer. The main goal of this study is to value a small company that belongs to the manufacture of condiments and spices sector through discounted cash flow model. The data collected about the company and its sector, was analyzed and selected the most relevant ones that together with the assumptions made in the evaluation process, allowed to estimate the company’s value. In the end, the results from the evaluation of the company were presented, based in two different approaches, namely: the approach of equity and the approach of the firm. The company value through the approach of the firm is 4.045.077€, and the equity value approach is 2.867.090€. In the case of a future capital operation, it is considered important that the company has this technical knowledge and tools which may be useful in the perception of its fair value, in order to have a good negotiation basis.
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Keywords
Avaliação de empresas Fluxo de caixa atualizado PME