Avaliação da empresa B3SA3 pelo método de fluxo de caixa descontado: estudo de caso

Abstract

Discussions on how to assess the value of a company have become an increasingly prevalent topic with the development of the economically driven society. In light of this, various business valuation techniques have been created in an attempt to address the pricing of companies, as this task can aid in decision-making, resulting in financial and economic gains. As such, this study aimed to evaluate the company with the greatest impact on the capital market in Brazil, B3SA3, using tools to assess the company's financial statements and determine its total value. Data collection was conducted through B3's own website, which provides its financial and administrative information. The data was analyzed using the Index of Accounting Information Quality (IQIC) to assess the quality of the accounting information. The company's valuation was performed using Valuation methods presented by Professor Aswath Damodaran, with a focus on a discounted cash flow valuation of Equity. The results of the study demonstrated that B3SA3 is a company with excellent quality in its accounting information, with 91.5% of the required information as per the IQIC. In the company's valuation, it was concluded that, based on the constructed assessment, B3SA3 is overvalued in its market value. The company's value, according to the assessment, was R$ 35.4 billion, while the market price stands at R$ 63 billion.It was possible to conclude that business valuation is an valuable tool in decision-making, and that when methods are presented objectively, they can be applied efficiently and comprehensively for the analysis of a specific case, with an emphasis on constructing the narrative and then translating the narrative into numbers."