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Equity research - Arsenal Holdings PLC
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Este projeto foi escrito de acordo com as recomendações de diretrizes do Instituto CFA, bem como as normas do projeto final de mestrado em finanças do ISEG. Foi feita uma análise detalhada do Arsenal Holdings PLC. A empresa analisada foi selecionada por mim com base na sua recente aquisição pela Kroenke Sports & Entertainment UK Inc, parecendo um bom ponto de partida para uma avaliação desafiante em um setor interessante com algumas aquisições atractivas ao longo dos anos. O Arsenal Holdings Limited é a holding de um clube de futebol inglês, o Arsenal F.C, que compete pelos principais troféus de futebol. O objetivo deste projeto é emitir uma opinião financeira sobre o valor de aquisição pago pela empresa, calculando um preço-alvo. Através da abordagem FCFF, foi atingida uma avaliação final de £1,840.52m, significando um desconto de 0.6% no valor de aquisição pago. O resultado foi apoiado por uma avaliação relativa complementar. Todas as informações e dados aplicados neste projeto estavam disponíveis públicamente
This project was written in accordance with the CFA Institute guideline recommendations as well as the ISEG´s master's in finance final work project standards. A detailed analysis of Arsenal Holdings PLC was done. The analyzed company was selected by me based on his recent acquisition by Kroenke Sports & Entertainment UK Inc, looking a good starting point for a challenging valuation on an interesting industry with some attractive acquisitions over the years. Arsenal Holdings Limited is the holding of an English football club, Arsenal F.C that competes for top football trophies. The purpose o this project is to issue a financial opinion about the acquisition value paid for the company by calculating a target price. Through FCFF approach a final valuation of £1,840.52m was reached, meaning a discount of 0.6% in the acquisitio value paid. The result was supported by a complementary relative valuation. All the information and data applied in this project was publicly available.
This project was written in accordance with the CFA Institute guideline recommendations as well as the ISEG´s master's in finance final work project standards. A detailed analysis of Arsenal Holdings PLC was done. The analyzed company was selected by me based on his recent acquisition by Kroenke Sports & Entertainment UK Inc, looking a good starting point for a challenging valuation on an interesting industry with some attractive acquisitions over the years. Arsenal Holdings Limited is the holding of an English football club, Arsenal F.C that competes for top football trophies. The purpose o this project is to issue a financial opinion about the acquisition value paid for the company by calculating a target price. Through FCFF approach a final valuation of £1,840.52m was reached, meaning a discount of 0.6% in the acquisitio value paid. The result was supported by a complementary relative valuation. All the information and data applied in this project was publicly available.
Descrição
Mestrado em Finanças
Palavras-chave
Finance Equity research aquisição avaliação desporto futebol Finanças M&A valuation sports football
Contexto Educativo
Citação
Salvado, André Filipe Leitão (2019). "Equity research - Arsenal Holdings PLC". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão