私募股权投资估值模型研究

On the Valuation Model of Private Equity Investment

针对目前理论界采用现金流量法、相对估价法、期权方法等单一方法存在的局限性,文章以语言康复设备销售与服务企业为例,运用综合集成的思想,首先通过采用市盈率模型、EV/EBITDA估值模型构造企业投资价值区间,再运用AHP-Fuzzy综合法,并考虑相关的影响因素,对其进行修正,最后获得了较为客观的估值。

In view of the limitations of the current resolutions, such as cash flow method, relative valua- tion method and option method, this paper, taking language rehabilitation equipment sales and service en- terprises as an example, uses the comprehensive integration method, that is, firstly construct the enterprise investment value range through the price earnings ratio model and EV/EBITDA valuation model,and then correct it through the AHP-Fuzzy synthesis method to obtain a more objective valuation.