재무비율을 이용한 기업분석 사례 연구－아모레퍼시픽을 중심으로－

Amore pacific has been leading company on Korean cosmetic industry for about 60 years. On 1954, it has big changes by modernized facility for mass production, state of art technology and visit marketing. Now, the company concentrates on global management with vision of 2015 Global Top 10, which targets France, China and America. By this strategy, its cosmetic and MC&S record total revenue on 258.5 billion and operating income on 340.2 billion. Its growth rate grows up 16%. Moreover, this company is trying to reduce logistic costs. It changes its logistic system by constructing direct delivery system and Osan hub center on 2010. It invests sustainability management to manufacture eco－friendly products and give positive image to the consumers. By this, we can recognize the company’s effort to meet expectation of premium brand image of Amore pacific. We will see how well the company reflects its effort to financial statement by expecting value on company and calculating fair value. Its relatively low discount rate and expected rate of return may not consider realistic market value. But, if we apply these assumptions to sales and operation income well, we can get right company value and stock price.