Valoración financiera de la empresa constructora construpro Cia Ltda

Abstract

CONDITION FOR PUBLICATION OF PROJECT. The construction sector in Ecuador is one of the main pillars of the national economy, contributing significantly to GDP and generating both direct and indirect employment. However, recent years have seen the industry face challenges such as political instability, rising material costs, reduced public investment, and the effects of the COVID-19 pandemic. In this context, it is crucial for companies to adopt tools that allow them to accurately assess their economic value in a changing and competitive environment. This study focuses on Construpro Cía. Ltda., a Cuenca-based company dedicated to the construction and sale of real estate properties. Chapter 1 outlines the general and specific objectives of the research, as well as its justification, scope, and limitations. The central problem identified is the lack of a standardized financial valuation process, which hinders strategic decision-making and long-term planning. Chapter 2 presents a literature review on key financial valuation concepts, their relevance for SMEs and real estate firms, and commonly used methods, with an emphasis on the discounted cash flow (DCF) approach. This chapter also includes an external environment analysis using PESTEL, SWOT, and Porter’s Five Forces frameworks. Chapter 3 conducts a horizontal and vertical analysis of the company’s financial statements from 2021 to 2023, calculates key financial ratios, and develops five-year financial projections. In Chapter 4, the DCF method is applied using the Weighted Average Cost of Capital (WACC) as the discount rate to estimate the present value of the business. This chapter also incorporates sensitivity analysis, Monte Carlo simulation, and scenario evaluation to measure the impact of variables such as inflation, housing demand, material costs, and operational expenses on the company’s value. Finally, Chapter 5 presents conclusions and recommendations aimed at institutionalizing regular valuation practices, improving financial management, and adopting sustainable business strategies. The proposed valuation provides a solid technical foundation for strategic decision-making and enhances the company's competitive position in the local real estate market. Keywords: Financial valuation, Discounted Cash Flow, Real Estate.