STOCK VALUATION MODELS BASED ON INCOME AND COMPARATIVE APPROACHES

Introduction. Stock markets are an integral part of the modern global economy, and stock valuation is a key aspect of making well-informed investment decisions. In the context of market fluctuations and economic instability, methods that can accurately reflect the intrinsic value of assets become particularly important. Given the challenges faced by investors, an analysis of existing stock valuation approaches is highly relevant. Purpose. The purpose of the study is to explore the income and comparative approaches to stock valuation and to analyze the features and effectiveness of applying these approaches in modern conditions. Materials and methods. The research materials include the works of domestic and foreign authors in the field of financial analysis and investment activities. The following scientific methods were used: theoretical generalization and grouping (to characterize different stock valuation models, their theoretical foundations, and practical significance), formalization, analysis, and synthesis (to compare valuation results under different approaches), and logical generalization of results (to formulate conclusions on the effectiveness of valuation methods). Results. The study shows that each approach has its specific advantages and disadvantages, which depend on the characteristics of the company being valued and the economic environment. The income approach, based on the discounting of future cash flows, is more effective in stable markets with predictable earnings. On the other hand, the comparative approach, based on the analysis of comparable companies in the market, is more flexible and convenient for short-term horizons and when evaluating new or rapidly growing companies. Discussion. Future research may focus on developing integrated models that combine elements of both approaches and on adapting existing methods to the conditions of unstable markets and rapidly changing economic realities.