Værdiansættelse af Bavarian Nordic A/S

Jacob Raagaard Troen Olsen & Valdemar Rosborg Maintz

Studenteropgave: HD-afhandlinger

Abstract

In today's complex and dynamic business environment, the ability to understand and evaluate the value of a company is crucial for investors, analysts, and managers. A comprehensive valuation is a critical factor in making informed decisions and forming a basis for investment strategies. In this assignment, we focus on the valuation of Bavarian Nordic, a leading biotechnology company with an impressive history and growth potential. The purpose of this assignment is to conduct a thorough and comprehensive valuation of Bavarian Nordic based on fundamental analysis. We will closely examine various aspects of the company to identify its theoretical enterprise value. To achieve this goal, it is necessary to address several key sub-questions. Firstly, we will calculate the theoretical enterprise value of Bavarian Nordic through a detailed analysis of the company's financial indicators, earnings potential, and market conditions. Additionally, we will examine the non-financial macroeconomic factors expected to influence Bavarian Nordic and its future value. We will analyze factors such as political and regulatory conditions, technological advancements, and the competitive landscape within the biotechnology sector to assess their impact on the company's financial performance and value. A crucial factor in Bavarian Nordic's value is the identification of its primary value driver. We will examine the company's product portfolio and evaluate which product has the greatest influence on its future earnings and growth potential. Furthermore, we will analyze Bavarian Nordic's profitability and performance over the past five fiscal years. By evaluating key metrics such as profit margin, gross margin, and return on investment, we will gain deeper insights into the company's profitability and its ability to generate value for investors. Finally, we will present the theoretical value as of March 1st, 2023, of Bavarian Nordic based on the previous analyses and calculations. This will provide us with an important measure of the company's value at that specific point in time and serve as a basis for further discussion and assessment of its investment potential. In summary, this assignment aims to provide a comprehensive and analytical approach to the valuation of Bavarian Nordic. By utilizing fundamental financial analysis, examining macroeconomic conditions, identifying primary value drivers, and evaluating the company's profitability, we seek to achieve a thorough understanding of its current and potential value. It is important to note that valuing companies is not an exact science, and the outcome is based on assumptions and estimates. Therefore, we will employ rigorous methodologies and validate our analyses with relevant research and data to ensure the most accurate assessment of Bavarian Nordic's value. By exploring questions regarding enterprise value, influential macroeconomic factors, primary value drivers, profitability, and the theoretical value of Bavarian Nordic, this assignment will contribute to a deeper understanding of the company's financial strength and potential future developments

UddannelserHD Finansiering, (HD uddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2023
Antal sider80
VejledereLeif Christensen