Bravo, Jorge Miguel VenturaCorreia, Fernando Miguel Reis2024-11-132024-11-132024-10-31http://hdl.handle.net/10362/175133Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementValuation of companies is a critical exercise across various contexts, including financing, asset transactions, investment decisions, and internal management. Sonae SGPS S.A., a leading conglomerate in Portugal and listed on the Lisbon Stock Exchange (Euronext Lisbon) has a strong presence in various markets being an important driver of the country's economic growth, and for that reason the main goal of this project is to accurately estimate the pershare fair value of the company Sonae SGPS, S.A and emit an opinion regarding a potential investment. This project will begin by identifying different valuation methods, followed by an analysis of Sonae group with a focus on its history, each company’s details and financials. Additionally, the main industry in which Sonae operates will be analyzed and the economic context of Portugal and Europe. Finally, to estimate the per-share fair value of Sonae SGPS, S.A. it will be used the discounted cash flow method, more specifically the Free Cash Flow to the Firm approach and the relative method with the multiples approach. This methodology resulted in an equity value per share of 4.39€ in the Discounted Cash Flow method and 2.12€ in the Relative method, being a clear sign that Sonae SGPS S.A is undervalued as at 31/12/2023.engEquity ValuationSonae SGPS S.A.Free Cash Flow to the FirmMultiple ValuationRetailSDG 4 - Quality educationSDG 8 - Decent work and economic growthSDG 9 - Industry, innovation and infrastructuremaster thesis203776232