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Equity valuation: Broadcom Inc.
| Name: | Description: | Size: | Format: | |
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| 1.11 MB | Adobe PDF |
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Abstract(s)
Esta dissertação tem como objetivo principal analisar financeiramente e avaliar a Broadcom Inc., obtendo o preço justo de uma ação da empresa ao dia 29 de junho de 2025.
Após uma detalhada análise da literatura sobre os métodos de avaliação de empresas, conclui-se que o método dos Fluxos de Caixa Descontados com base no Free Cash-Flow to the Firm e utilizando a WACC é o mais adequado. Para apoiar o resultado da avaliação por este método, foi realizada uma análise de sensibilidade. De uma forma complementar, foi também realizada uma avaliação relativa.
A aplicação do método DCF resulta num preço justo de uma ação de 305,71$, 15,48% acima do preço de fecho do dia 29 junho de 2025 (264,74$), sendo apresentada uma recomendação de COMPRA. A avaliação relativa contraria o método DCF, uma vez que, os preços justos de uma ação obtidos por todos os múltiplos são inferiores ao preço de mercado da ação, no mesmo dia. De notar, ainda, que os processos de avaliação são sustentados por uma análise do setor e dos mercados em que empresa está inserida, assim como uma análise do desempenho histórico Broadcom Inc.
This dissertation aims to conduct a financial analysis and valuation of Broadcom Inc., determining the fair value of one share oF the company as of June 29, 2025. Following a detailed review of literature on company valuation methods, the Discounted Cash-Flow (DCF) method – based on Free Cash-Flow to the Firm (FCFF) and using the WACC – leads to the conclusion that is the most suitable approach. In order to corroborate the evaluation result obtained using this method, was carried out a sensitivity analysis. Additionally, a relative valuation was conducted as a complementary assessment. The application of the DCF method yields a fair value per share of $305,71, 15,48% above the cosing price on June 29, 2025 ($264,74), leading to a BUY recommendation. However, the relative valuation contradicts the DCF results, as the fair values derived form all applied multiples indicate that Broadcom Inc.’s shares are overvalued. It is also worth noting that the valuation processes are supported by an in-depth analysis of the industry and the markets in which the company operates, as well as an assessment of Broadcom Inc.’s historical performance.
This dissertation aims to conduct a financial analysis and valuation of Broadcom Inc., determining the fair value of one share oF the company as of June 29, 2025. Following a detailed review of literature on company valuation methods, the Discounted Cash-Flow (DCF) method – based on Free Cash-Flow to the Firm (FCFF) and using the WACC – leads to the conclusion that is the most suitable approach. In order to corroborate the evaluation result obtained using this method, was carried out a sensitivity analysis. Additionally, a relative valuation was conducted as a complementary assessment. The application of the DCF method yields a fair value per share of $305,71, 15,48% above the cosing price on June 29, 2025 ($264,74), leading to a BUY recommendation. However, the relative valuation contradicts the DCF results, as the fair values derived form all applied multiples indicate that Broadcom Inc.’s shares are overvalued. It is also worth noting that the valuation processes are supported by an in-depth analysis of the industry and the markets in which the company operates, as well as an assessment of Broadcom Inc.’s historical performance.
Description
Keywords
Fluxos de caixa descontados Múltiplos de mercado Semicondutores Broadcom Inc. Discounted cash-flow Market multiples Semiconductors