COMPARATIVE ANALYSIS OF APPROACHES TO DETERMINING THE VALUATION OF SHARES

The article reveals that the financial market is an integral part of the world economy as a whole and the economy of each country. The main tasks of such a segment of the financial market as the stock market is the redistribution of funds on the one hand between companies that need financing and on the other between investors. It is substantiated that the fundamental approach is one of the most widely used methods of value analysis and forecasting of market changes in securities on the stock market. The article indicates that at this stage of stock market development, for the purpose of comprehensive analysis, different methods are used, both in the market as a whole and in individual instruments. On this basis, the article analyzes the methods of fundamental analysis taking into account market conditions. It is emphasized that the basic purpose of fundamental analysis is to determine the “fair” value of a security using the valuation methods of both the stock instrument and its issuer. The article reveals the fundamental valuation method that results from determining the intrinsic fair value of a company's stock based on an analysis of the financial and management performance of the company. It is also justified that a trading strategy based on fundamental analysis should reasonably recommend the purchase of undervalued financial instruments and the sale of revalued securities. The article analyzes the current methods of valuation of the fair value of shares and reveals their main disadvantages. The conclusion is that it is necessary to constantly adapt the methods of fundamental analysis to the changing market conditions and to develop representative scientific researches on these problems.