Modelo de valoración y comparación de empresas
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The companies SIEMENS and EATON, they are companies that belong to a same industry and engaged in the technological area. The information used in this paper is only for academic purposes and it was generated through the website yahoo.finance.com. SIEMENS is one company in the technological sector in industry instruments and electrical devices with 360 000 employees and is located in Germany. EATON is a technology company that operates as a worldwide energy management company. The company was founded in 1916 and is headquartered in Dublin, Ireland, with 102 000 employees. Its electrical products segment offers electrical components, industrial components, among others. The realization of this project allowed to develop a model of evaluation and comparison of companies like SIEMENS and EATON, in the period between 2011 and 2013, in order to analyze models or valuation methodologies currently used, validate the existence or application of valuation models of companies and their use in the domestic market; as well as carry out the valuation of the same process. Was the projection of the financial statements for the years 2011-2013, obtaining positive cash flows for the three years. For this two companies in study we applied the analysis model in order to get an idea about the behavior of each company in terms of their financial health. The integral scheme of profitability was used to determine what were the factors that have major impact in profitability on the equity and an strength analysis, where it was determined the capacity that businesses have to meet their obligations. 7 This analysis leads to the conclusion that these two companies have the maturity and a world class performance, both companies has significant differences however both are generating value to their stakeholders. Using the results obtained, shows that these two companies have managed stable operations a long their lifetime. However the analysis indicates that SIEMENS has a more positive performance, while EATON has a less aggressive performance but stable on his periods on study. There are situations like local and global changes that may affect company performance, but is EATON behavior the one that shows better balance in their long-term commitments, equities and financing administration, suggesting greater solid financial structure and a secure investing option.
Proyecto de graduación (Maestría en Administración de Empresas con énfasis en Finanzas) Instituto Tecnológico de Costa Rica, Escuela de Administración de Empresas, 2014.