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This thesis is motivated by the challenges of contemporary finance in appraising companies according to their underlying, intrinsic value. Scholars and practitioners within the field of financial analysis have searched in futility for an efficient and accurate valuation technique; a single, magic wand that could estimate companies intrinsic value accurately. Instead, several competing contemporary valuation methods occupy the literature today. The purpose of the thesis is to evaluate and discuss contemporary valuation models in order to choose the most appropriate model to a valuation of Vestas. Vestas is of particular interest being a Danish market leader within a major growth industry. Under the current momentum that wind power enjoys, it is relevant to examine if the intrinsic value of the company deviates from the current market price.

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The author has dedicated most of his academic and professional focus to contemporary corporate finance issues. He is currently pursuing a MSc in Economics and Finance from Copenhagen Business School as well as a CEMS MSc in Int. Management from University of Sydney. His professional expertise lies within strategic management consulting.

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