Fundamentální analýza akcie Costco Wholesale Corporation

This Bachelor's thesis focuses on the fundamental analysis of Costco Wholesale Corporation, one of the world's largest retail and wholesale companies. The fundamental analysis is conducted using a top-down approach across three levels, with each section concluding with an assessment of whether the stock is a suitable purchase. The first level consists of a global fundamental analysis examining the impact of selected macroeconomic factors on stock prices. The second level focuses on industry analysis, specifically addressing sector specifics such as the life cycle, industry sensitivity to the business cycle, market structure, and regulatory determinants. The final level is a corporate fundamental analysis, which provides a detailed evaluation of Costco Wholesale Corporation and calculates its intrinsic value using various valuation models. Based on the overall analysis, the stock is found to be overvalued, and a sell recommendation is suggested.