Abstract
NEXT is a very common large clothing company in Britain, whose clothes are deeply in the hearts of contemporary young people. In the valuation of NEXT Company, the author found the formula of financial statements and selected a lot of useful data, and the DCF model was adopted. A variety of company data and many factors can affect the valuation results. So, many Excel sheets need to be created to summarize and calculate all this data. The final estimated market value is about 14.15 billion, while the actual market value is 8.66 billion. So, the results differ from NEXT's internal estimates, but the overall trend is similar. There are many reasons for this difference, involving some disadvantages of the DCF model and valuation problems. This paper enabled people to: have a certain understanding of the market development trend; learn a lot of valuation methods and become proficient in using them; more clearly understand the advantages and disadvantages of the DCF model; and have a more accurate understanding of the NEXT Company.
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