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POSCO Business Analysis
¸ñÂ÷ (Table of contents)
1.
ÇÁ·ÎÁ§Æ® °³¿ä (Overview of the project)
3
2.
À繫Á¦Ç¥ ºÐ¼®À» ÅëÇÑ ¼±Á¤ ±â¾÷ÀÇ ÀÌÇØ (Financial statements analysis)
5
3.
À繫ºñÀ² ºÐ¼® (Financial ratio analysis)
11
4.
ºñ¿ë±¸Á¶ ºÐ¼® (Cost structure analysis)
18
5.
Çö±ÝÈ帧ǥ ºÐ¼® (Statement of Cash Flows Analysis)
20
6.
½Å¿ëºÐ¼® (Credit analysis)
23
7.
À繫°ü¸® °üÁ¡¿¡¼ º» ¼±Á¤±â¾÷ (Corporate finance analysis)
25
8.
¼±Á¤±â¾÷ÀÇ °¡Ä¡Æò°¡ (Valuation of the selected company
36
9.
°á·Ð ¹× ¼Ò°¨ (Conclusions and our thoughts)
40
1 ÇÁ·ÎÁ§Æ® °³¿ä (Overview of the project)
ÇÁ·ÎÁ§Æ® ºÐ¼®±â¾÷ ¼Ò°³ (Project and company introduction)
ÇÁ·ÎÁ§Æ® ¼Ò°³
º» ÇÁ·ÎÁ§Æ®´Â 2xxx³âµµ º½ Çб⠱èöÁß ±³¼ö´ÔÀÇ À繫ºÐ¼® ¼ö¾÷¿¡ ´ëÇÑ ±â¸» ÇÁ·ÎÁ§Æ®ÀÌ´Ù. ¼±Á¤±â¾÷Àº Æ÷½ºÄڷμ, Çѱ¹À» ´ëÇ¥Çϴ ö°±â¾÷ÀÌ´Ù.
º» ÇÁ·ÎÁ§Æ®¸¦ ¼öÇàÇϱâ À§ÇØ ±èöÁß, ¡°±â¾÷°¡Ä¡ Áß½ÉÀÇ °æ¿µºÐ¼®, Á¦3ÆÇ¡±, ¸í°æ»ç¿Í Aswath Damodaran, ¡°Applied Corporate Finance, Second Edition¡±, Wiley ¸¦ ÁÖ¡¦(»ý·«)
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8,448.1
6,028.6
5,449.0
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6,540.1
4,308.3
3,892.3
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4,446.9
3,679.4
3,206.6
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37,033.5
30,492.8
26,362.9
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9,249.8
5,989.6
4,571.2
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¿¿¬Á¦Ç° 44.1%
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½ºÅÙ·¹½º (STS) 12.9%
±âŸ (ºÎ»ê¹° µî) 1.5%
2 À繫Á¦Ç¥ ºÐ¼®À» ÅëÇÑ ¼±Á¤ ±â¾÷ÀÇ ÀÌÇØ (Financial statements analysis)
´ëÂ÷´ëÁ¶Ç¥ ºÐ¼® (Balance sheet analysis)
ÀÚ»ê ºÐ¼® (Asset Valuation)
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37.0
28.8
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19.7
18.2
19.5
1.Çö±Ý¹×Çö±Ý¼ºÀÚ»ê
2.5
2.3
1.9
2.´Ü±â±ÝÀ¶»óÇ°
4.1
4.7
2.4
3.´Ü±âÅõÀÚÁõ±Ç
3.4
4.7
7.9
4.¸ÅÃâä±Ç
8.7
6.2
6.8
5.±âŸ´çÁÂÀÚ»ê
0.9
0.3
0.5
(2)Àç°íÀÚ»ê
17.3
10.6
10.4
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63.0
71.2
70.1
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23.3
26.8
21.5
(2)À¯ÇüÀÚ»ê
39.1
43.3
47.3
1.ÅäÁö
2.5
2.8
3.2
2.°Ç¹°
5.3