基于FCFF和VaR方法的美的集团估值与风险水平研究

Research on Valuation and Risk Level of Midea Group Based on FCFF and VaR Methods

摘要: 美的集团是家电行业中的龙头企业，自上市以来，其规模不断扩张，业绩持续增长，是资本市场上回报率较高的股票之一。对美的集团这样的家电企业来说，合理的估值和风险评价对其在资本市场上进行市值管理、融资等来说有着重要的意义。本文首先分析了美的集团的盈利能力，然后通过直接估值法和间接估值法对美的集团的股价进行估计，并且运用VAR模型探讨美的集团的风险水平，以此为美的集团的未来发展指引方向，同时为家电行业的其他企业提供普遍的借鉴和参考。

Abstract: Midea Group is a leading enterprise in the home appliance industry. Since its listing, its scale has continued to expand and its performance has continued to grow, making it one of the stocks with high returns in the capital market. For home appliance companies like Midea Group, a reasonable valuation is of great significance for their market value management and financing in the capital market. This article first analyzes the profitability of Midea Group, and then estimates the stock price of Midea Group through direct and indirect valuation methods. The VAR model is used to explore the risk level of Midea Group, guiding the future development direction of Midea Group and providing general reference and reference for other enterprises in the home appli-ance industry.