STOCK VALUATION BASED ON FINANCIAL RATIOS OF PETER LYNCH AND WARREN BUFFETT

Dionice su vrijednosni papir koji predstavljaju udio u vlasništvu poduzeća, te su ujedno vlasništvo investitora koji daju svoj kapital za njihovo ulaganje u poduzeće. Za poduzeća su izdavanje dionica jedan od oblika izvora financiranja. Dionice se dijele na o bične i povlaštene dionice. Povlaštene dionice imaju karakteristike dionica i obveznica. U ovom radu ukratko ćemo obraditi tržišta gdje se trguje dionicama koje se dijele na primarno i sekundarno tržište, te podjele sekundarnog tržišta. Metode vrednovanja dionica se dijele na apsolutno vrednovanje gdje se pronalazi intrinzična vrijednost dionice i relativno vrednovanje u kojoj investitor uspoređuju investicijske pokazatelje između više poduzeća iz slične industrijske grane. Apsolutno vrednovanje dionica se dijeli na metode diskontiranih novčanih tokova i metodu diskontiranih budućih dividendi. U sklopu rada opisat će se češće korištene metode kao što su Gordonov model rasta dividendi i metoda diskontiranih slobodnih novča nih tokova. Kod relativnog vrednovanja će se izračunati 5 najčešće korištenih investicijskih pokazatelja i pokazatelji poznatih investitora koji su jedni u najuspješnijih investitora u povijesti. Strategije ulaganja poznatih investitora će se razraditi i prikazati korištenje njihovih pokazatelja na primjeru poduzeća Games Workshopa. Osim navedenog relativnog vrednovanja u završnom radu ćemo prikazati i metoda vrednovanja na temelju diskontiranih novčanih tokova (apsolutno vrednovanje) koja je najčešće korištena među investitorima i u financijskoj industriji.Shares are securities which represent the part of ownership in a corporation, which are property of their owner who exchange their equity for them. For the corporation issuing of new shares represent a source of equity. Shares are categorized as common and preferred shares. Preferred shares have characteristics of shares and bonds. In this undergraduate thesis markets will be explained where shares are traded on, which are divided into primary and secondary market., further more the secondary market will be divided. Methods of investing are divided into absolute valuation which has the goal of finding the intrinsic value of stock and relative valuation where the investor is comparing investing indicators between few companies of the same industry. Absolute valuation is separated into discounted cash flow method and discounted dividends method. As part of this thesis only the more common used methods will be explained like Gordon’s growth model and discounted cash flow method. For the relative valuation 5 most used investing indicators will be calculated and indicators of famous investors which are few of the most successful investors in history. Strategies of investment of the famous investors will we elaborated, and their usage will be shown on the corporation of Games Workshop. In addition to the mentioned relative valuation above, we will show in this undergraduate thesis method of discounted cash flow (absolute valuation) which is the most used method among investors in the financial industry