本研究採取個案研究方式，以應用生技產業中保健食品原料公司c公司為例，藉由現金流量折現法(Discounted Cach Flow Model ,DCF)及經濟附加價值(Economic Value Added ,EVA)之評價方法進行企業評價。另外透過敏感度分析及情境分析，歸納出企業的價值價值驅動因子，並據以形成創造公司價值之策略。研究結果發現個案公司的關鍵驅動因子主要是利潤率、加權平均資金成本及營業成本。最後透過關鍵因子，將策略面與財務面結合，對個案公司提出建議，期許能在激烈競爭環境下，提昇其經營績效與競爭優勢，來創造公司價值。 This thesis is a case study adopting Discounted Cash Flow(DCF) model and economic value added(EVA) to assess the enterprise value of C company. First, we would like to identify the business value drivers via sensitivity and scenario analysis in order to bring out the creation value strategy for the company. The result shows that the key value drivers are operating income ratio , weighted average cost of capital, and operating cost. Then, we combine both strategic and financial aspects with key value drivers and propose some recommendation so as to lift the company’s value in today’s highly competitive environment.
