The aim of this thesis is to determine the market value of the company Budějovický Budvar as of 31. 12. 2014. The thesis is divided in two parts, theoretical and practical. Each part is composed of 7 chapters. In the theoretical part is specified theoretical principle of valuation, which is applied in the practical part on the company Budějovický Budvar. Before the valuation itself, short company analysis, strategic and financial analysis are carried out. The results from the analyses are used in the prediction of the company sales. Thereof the value creators and financial plan are determined. Finally, last chapter is focused on the company valuation. The main method of the valuation is DCF Entity method and the supporting methods are Value...