基于实物期权法的新能源汽车企业价值评估——以蔚来汽车企业为例

Value Assessment of New Energy Vehicle Enterprises Based on Real Options Approach

近年来,新能源汽车行业作为新兴产业逐渐崭露头角,如何对新能源汽车行业中企业的价值进行评估成为热门话题。为了能够更加精准地评估新能源汽车企业的价值,避免单一的传统评估方法不能很好地估算企业的潜在价值,从而低估新能源汽车企业的价值,以蔚来汽车为研究对象,把蔚来汽车的企业价值分为现时价值和潜在价值两部分进行评估。其中,用现金流量折现法来评估企业的现时价值,用实物期权法评估企业的潜在价值,最后评估出蔚来汽车企业的价值。

In recent years,the new energy automobile industry is emerging as a new industry,and how to assess the value of enterprises in the new energy automobile industry has become a hot topic.In order to assess the value of new energy automobile enterprises more accurately,and to avoid that a single traditional valuation method can not estimate the potential value of the enterprise well,thus underestimating the value of the new energy automobile enterprise,we take Azure Automobile as the object of research.The enterprise value of Azalea Automobile is divided into two parts:current value and potential value for assessment.Among them,the discounted cash flow method is used to assess the present value of the enterprise,and the real option method is used to assess the potential value of the enterprise,and finally the value of the enterprise of Azalea Automobile is assessed.