B选项Using market multiples to value companies

NO.PZ2023123001000001

问题如下：

Which valuation feature will Schwalke find different in valuing private companies versus public companies?

选项：

Using FCFF to value companies

Using market multiples to value companies

Assessing discounts to account for illiquidity

解释：

C is Correct. An issue with private versus public company valuations is the need to adjust the valuation downward to account for a lack of liquidity.

A and B are both incorrect because FCFF and multiples are used in both private and public company valuations.

用乘数法，比如P/E，上市和非上市的equity估值会明显不同， B为什么不对呢？

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1 个答案

王园圆_品职助教 · 2025年03月31日

同学你好,题目的意思是,在对非上市公司估值的时候用到的以下哪种估值方法,和对上市公司估值的时候是很不一样的

注意,不是问估值的结果,而是问估值的方法

A和B都是同时适用于给上市公司和非上市公司进行估值的,可能结果会有一点不同,但方法都是这个方法啊

只有C选项,是特别针对非上市公司流动性不足而给予一个折价,这在上市公司是完全不要考虑的,所以这个方法才是对非上市公司特有的,只能选C

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NO.PZ2023123001000001问题如下 Whivaluation feature will Schwalke finifferent in valuing private companies versus public companies? A.UsingFCFF to value companiesB.Usingmarketmultiples to value companiesC.Assessingscountsto account for illiquity C isCorrect. issue with private versus public company valuations is the neeto austthe valuation wnwarto account for a laof liquity. A anBare both incorrectbecause FCFF anmultiples are usein both private anpublic company valuations. B的乘数法 private没有很好的baseline可以比较和上市公司明显不一样啊为什么不对呢

2024-03-17 22:52 1 · 回答