THE RELEVANCE OF USING THE DISCOUNTED CASH FLOW (DCF) METHOD IN COMPANY VALUATION DURING THE IPO PROCESS IN UZBEKISTAN

The Initial Public Offering (IPO) has become an essential mechanism for attracting investment and strengthening corporate governance in Uzbekistan. In this process, the accurate valuation of companies plays a decisive role in determining the success of the IPO. Among various valuation approaches, the Discounted Cash Flow (DCF) method is widely recognized as one of the most reliable techniques, as it reflects the intrinsic value of a company based on its expected future cash flows. This article explores the importance and applicability of the DCF method in the context of Uzbekistan’s emerging capital market, emphasizing its advantages, limitations, and relevance in ensuring fair pricing of shares during IPOs.