Author(s)

Ziyang Ling ¹

Affiliation(s)

¹ Queen Mary University of London, London, UK

Corresponding Author

Ziyang Ling

ABSTRACT

This thesis uses external analysis, internal analysis and DCF model to comprehensively evaluate the endogenous value of Carrefour. Combining the results of the three, this thesis proposes to investors whether to invest in Carrefour in the long-term and short-term and what the specific operation should be. Combining the opinions of market investors and my analysis, this dissertation believes that Carrefour's stock should be bought in the short term and kept on the side-lines in the long term.

KEYWORDS

DCF model, internal analysis, external analysis, Carrefour's stock

CITE THIS PAPER

Ziyang Ling, Financial Valuation and Investment Analysis of Carrefour. Accounting and Corporate Management (2022) Vol. 4: 19-35. DOI: http://dx.doi.org/10.23977/acccm.2022.040503.

REFERENCES

[1] Analytics, I. (2022). Carrefour SA: Levered/Unlevered Beta (CA | FRA | Food Retailers & Wholesalers) - Infront Analytics. LuxSE Group. https://www.infrontanalytics.com/fe-EN/00380EF/Carrefour-SA/Beta
[2] Bloomberg. (2021). Bloomberg Terminal-Carrefour. https://www.bloomberg. com/tosv2.html? vid=&uuid= c570 8070-20cb-11ed-8813-734c4d75576f&url=L3F1b3RlL0NBOkZQ
[3] Brealey, R. A., Myers, S. C., & Allen, F. (2010). Principles of Corporate Finance, 10th Edition (10th ed.). McGraw-Hill/Irwin.
[4] Carrefouruae. (2022). Carrefouruae. https://www.carrefouruae.com/mafuae/en/
[5] Janabi M . Dubai Financial Markets, Trading of Securities, and Investment Decision-Making[M].  2019.
[6] GDP growth (annual %) - France | Data. (2022). World Bank. https://data.worldbank.org/indicator/NY. GDP. MKTP.KD.ZG?locations=FR
[7] McKinsey & Company Inc., Koller, T., Goedhart, M., Wessels, D., & Company, M. K. (2015). Valuation + DCF Model Download. Wiley.
[8] Poland, S. R. (2014). Founder’s Pocket Guide: Startup Valuation (2nd ed.). 1x1 Media.
[9] Statista. (2022, July 6). Market share of food retail chains in France 2022. https://www.statista.com /statistics/ 778198/market-share-supermarkets-hypermarkets-chains-france/
[10] T. (2021). ValueInvesting.io | Automated DCF and WACC | Intrinsic Value. Value Investing. https://valueinvesting. io/CA.PA/valuation/wacc

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