A Comparative Study in Brand Valuation with Earning per Share and Price to Sales Approaches in the Tiles, ceramics and cement Industries

Brands are seen as strategic assets whose value is highly correlated to the value of companies. The aim of this study is to compare two brand valuation approaches of listed companies in Tehran stock exchange in the tiles, ceramics and cement industries. The sample consists of 23 companies adopted in the tile, ceramic and cement industry in Tehran stock exchange during 2012 to 2016. The model used in this study is a partial and mix comparison of the three phases cash profit discount model with the price to sales model and the Earning per Sharebrand model. The results show that using Earning per Shareapproach for brand valuation, one can get more realistic value toward brand. It can also be formulated a model fitting to Iran stock exchange context with the financial parameters of the company, rather than the qualitative methods, in order to calculate the company's value and its brand.