자동차 산업은 1886년 독일에서의 자동차 발명으로 시작되어 100여년에 걸친 변화와 경쟁을 거듭하면서 20세기 근대 산업 발전을 선도하였던 대표적인 제조업으로써, 국민 경제 부분에서 매우 큰 영향력을 차지하고 있는 핵심 산업이다. 현재 자동차 산업의 비중은 제조업 생산의 11.1%, 부가가치의 11.1%,
and having high profit.
Inventories
We use the weighted average inventory method to evaluate the estimated acquisition cost and calculate the quantity and amount according to the year-round method. However, if the property stock market price is lower than acquisition costs, the market price is alternative by the financial status table value so there is no loss on valuation of assets in stock.
1. Industry Analysis
1-1. US market environment
Because of economic recession, depression is anticipated for a while. In last summer, two big retail companies are bankrupted. One was Mervyns which is big retailing company of west US especially focus on California. The other one was Boscov’s which has 49 stores in south east US (Pennsylvania, Maryland, New Jersey and Virginia). This bankr
Valuation based on price-earnings multiple
Valuation based on the ratio of
market price to book value of Equity
As you see the table, we can suggest to buy the DSME’s stock because the table shows us this stock is undervalued. But we, the investors have to recognize the limitations of multiple-valuations. If the benchmarks are changed, we can decide in another way from sensitivity analysis.
Market Value
The Price-Earning Ratio(PER) is the ratio that shows the value of stock compared to the profit a certain company earns. The PER of Hyundai is 15.61 and that of Kia is 11.37. This means that the stock of Hyundai is overvalued in the market, compared to the profit it makes. This may be the result of investors valuating Hyundai as a more profitable and stable company. At the same time