本论文介绍了股票投资分析的一般方法,对行业分析,公司分析和现金流折现的估值方法进行了一定的介绍。为股票投资中的估值分析提供了一个范本,同时对太阳鸟游艇的估值具有一定的投资实战的参考意义。

Abstract

With the rapid development of Chinese economy and equity trading system more and more Chinese companies are looking for the chance to issue shares. In the same time more and more investers pay more attention on stock marketing and hope to share some profits through investing on potential stocks. How to know the stock and the stock markets? How to evaluate the value of the stocks? How to invest on the stock correctly?...... such as these questions are becoming common concerns for the investers who are thirsty for success on investment.

In this paper through reviewing the stock development history in brief the relationship between stock and company behind the stock have been uncovered. Further this paper has revealed the secret of the rule of stock investment that the stock was begin as a tool for gambling and end as the tool for value investment. This paper also introduced the main theories for stock analysis, such as technical analysis, value analysis, academic analysis and mental analysis but focus on the value analysis.

Value analysis is a top to bottom analysis method. The analyzer will analysis the society development trends and find out some rules or industries which will have faster development chance than the others. Then the analyzer will focus on the certain industry to dig deeper and find out the promising company to analysis. At last using FCFF or FCFE method to evaluate company’s net present value. As a sample, Sunbird yacht company has been selected for illustration the value analysis process. Firstly, reviewing the development trends of the yacht and analysis the industry race condition, then analysis the Sunbird yacht’s value. At last, the detail price of per share and the advice are provided to the reader.

Through this paper the author wants to illustrate the value analysis process for investor and hope to help investor making decision correctly in the future.

Key words: Sunbird yacht, valuation