03688ntm a22005177i 4500 000719853 CZ-PrVSE 20250126140333.0 m d cr n|||||||||| 250126s2024 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Pipek, Jan ISIS:163853 dis cenění společnosti Microsoft Corporation : Analýza finanční výkonnosti a vyhlídky na budoucí růst eng Valuation of Microsoft Corporation : An Analysis of Financial Performance and Future Growth Prospects Jan Pipek 2024 ?? stran : digital, PDF soubor Vedoucí práce: Heřman Kopkáně Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta podnikohospodářská, 2025 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2025 This thesis conducts a comprehensive valuation of Microsoft Corporation, examining its financial performance and future growth prospects in the context of the transformative impacts of artificial intelligence and cloud computing. The study aims to develop a rigorous valuation model for Microsoft and its principal segments (Productivity and Business Processes, Intelligent Cloud, and More Personal Computing) to identify key value drivers and assess alignment with market valuation. The methodology employs a two-phase Discounted Cash Flow (DCF) analysis for Microsoft and its segments, complemented by Sum-of-the-Parts (SOTP) assessment. Peer group analysis and parametric calculation are used for estimating betas, while revenue-based modelling addresses uncertain variables in the Free Cash Flow to Firm (FCFF) equation. The results indicate that Microsoft's market capitalization as of September 2024 is $3.2 trillion, suggesting a 34% deviation from its $2.4 trillion intrinsic valuation. The Intelligent Cloud segment emerges as the primary growth driver, with substantial capital expenditure requirements. Sensitivity analyses reveal Microsoft's vulnerability to growth assumptions. The study concludes that while Microsoft exhibits strong fundamentals, its market valuation incorporates optimistic growth expectations, particularly concerning the pace of AI and cloud adoption. The findings underscore the importance of assessing market expectations critically and highlight the pivotal role of strategic investments in AI and cloud computing for Microsoft's future value creation. Způsob přístupu: Internet international management [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Valuation Microsoft Fundamental Analyses Finance Kopkáně, Heřman ola2010548290 ths Sieber, Patrik, 1977- xx0023780 opn Vysoká škola ekonomická v Praze. Podnikohospodářská fakulta kn20010709402 dgg https://insis.vse.cz/zp/86696/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/86696 Hlavní práce https://insis.vse.cz/zp/86696/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/86696/posudek/oponent/85279 Oponentura https://insis.vse.cz/zp/86696/priloha/30441 Přiloha k práci https://insis.vse.cz/zp/86696/podrobnosti dc:identifier NEPOSILAT VSKP vse86696 250121 86696