Analýza vybrané investiční příležitosti v obranném průmyslu

This bachelor's thesis determines the intrinsic value of the common stock of TechPrecision Corporation (TPCS), a small U.S. manufacturer of precision-machined metal components for the defense and aerospace industries, and formulates an investment recommendation as of February 17, 2026. The thesis is structured into five chapters. The first chapter defines the objective, methodology, and rationale for company selection. The second chapter presents a global macroeconomic analysis of the United States. The third chapter analyzes the Aerospace & Defense sector, including Porter's Five Forces model and the AUKUS program. The fourth chapter contains the firm-level fundamental analysis, comprising a financial statement review (DuPont decomposition of ROE, Altman Z-Score) and a DCF/FCFF valuation model with sensitivity and scenario analyses. The fifth chapter formulates the investment recommendation. The intrinsic value of the share under the going-concern scenario is USD 6.37. The probability-weighted intrinsic value incorporating the distressed scenario is USD 3.96, compared to the current market price of USD 4.45 (Margin of Safety = −10.9%). The resulting investment recommendation is therefore HOLD, with key risks identified in the ongoing refinancing of the Berkshire Bank credit facility and the recurring going-concern warnings issued by the auditor.