Comparison of the Methods of Realizing the Sensitivity Analysis of the Enterprise’s Value to Risks

The purpose of the study is to identify the comparative advantages of using specialized software for the sensitivity analysis of the enterprise value to the factors that determine the variability of discounted cash flows. The research object is the method of sensitivity analysis and the peculiarities of its implementation. The research subject is a comparative description of the ways of implementing the method of risk sensitivity analysis, with the identification of the results of the impact of changes in each individual parameter of the financial model and the impact of simultaneous stochastic changes in various parameters of the financial model on the key value indicator. Research methods include enterprise value estimation based on discounted cash flows, sensitivity analysis, and simulation modeling. The authors used several software functions during the research, namely predictor, define assumption, define forecast, simulation of changes in financial model parameters, sensitivity analysis. The results are presented in the form of recommendations for a better way to perform sensitivity analysis of the cash flows present value to changes in the parameters of the DCF model.