Calculo Roe Roi Roa Per Eva.xls
March 6, 2017 | Author: diegorpe | Category: N/A
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CALCULO DEL ROE, ROI, ROA, PER y EVA INFORMACIÓN GENERAL
Impuesto a la Renta (T) Política de dividendos (p) Porcentaje de crecimiento proyectado año a año Costo de la deuda (kd) DATOS FINACIEROS DE LA EMPRESA
20.00% 60.00% 5.00% 10.00% 2004
2005
2006
2007
2008
(año base)
Activos
BALANCE GENERAL
Activos Corrientes
Caja y bancos Valores negociables
4,000 15,000
4,662 15,000
5,361 15,000
6,097 15,000
6,873 15,000
Cuentas por cobrar comerciales
20,000
20,000
20,000
20,000
20,000
Cuentas por cobrar diversas Cuentas por cobrar accionista y viculadas Existencias
2,000
2,000
2,000
2,000
2,000
3,000 55,000
3,000 56,987
3,000 59,082
3,000 61,291
3,000 63,619
Gastos Pagados por anticipado Total Activo Corriente
1,000 100,000
1,000 102,650
1,000 105,443
1,000 108,388
1,000 111,492
Cuentas por cobrar LP Activos fijos (Inmueble maquinaria y equipo)
5,000
5,000
5,000
5,000
5,000
255,556
266,154
277,328
289,108
301,522
Depreciación de activos Intangibles
25,556 15,000
25,556 15,000
25,556 15,000
25,556 15,000
25,556 15,000
350,000
363,248
377,216
391,940
407,458
5,000
5,000
5,000
5,000
5,000
Cuentas por pagar comerciales
18,000
18,000
18,000
18,000
18,000
Cuentas por pagar a accionistas y vinculadas
1,000
1,000
1,000
1,000
1,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
220,000
220,000
220,000
220,000
220,000
Total Activo Pasivo y Patrimonio Pasivo Corriente
Deuda a Corto Plazo
Cuentas por pagar diversas Parte corriente de deuda LP Total pasivo corriente Ingreso diferido Cuentas por pagar LP Deuda a largo plazo Total Pasivo
Patrimonio Neto
Capital social Reservas legales Resultados acumulados
Total Patrimonio Neto
Total Pasivo y Patrimonio Neto ¿Balance?
120,000 10,000 -
120,000 10,000 13,248
120,000 10,000 27,216
120,000 10,000 41,940
120,000 10,000 57,458
130,000
143,248
157,216
171,940
187,458
350,000 Ok
363,248 Ok
377,216 Ok
391,940 Ok
407,458 Ok
Crec. Proyec. 500,000 290,000 210,000 50,000 110,000 50,000 4,000
525,000 525,000 304,500 220,500 52,500 115,500 52,500 4,000
551,250 551,250 319,725 231,525 55,125 121,275 55,125 4,000
578,813 578,813 335,711 243,101 57,881 127,339 57,881 4,000
607,753 607,753 352,497 255,256 60,775 133,706 60,775 4,000
ESTADO DE GANANCIAS Y PERDIDAS
Ingreso total Neto Costo de Ventas Utilidad Bruta Gastos de administración Gastos de ventas Utilidad Operativa Ingreso / Gastos financieros Utilidad (pérdida) antes de impuestos
-
-
-
-
46,000
48,500
51,125
53,881
56,775
4,600
4,850
5,113
5,388
5,678
8,280
8,730
9,203
9,699
10,220
33,120
34,920
36,810
38,795
40,878
2.30
2.42
2.54
2.66
2.80
120,000
120,000
120,000
120,000
120,000
276,000
289,800
304,290
319,505
335,480
0.28
0.29
0.31
0.32
0.34
13.50%
13.50%
13.50%
13.50%
13.50%
8.79%
8.96%
9.13%
9.29%
9.45%
2005
2006
2007
2008
9.79% 11.78% 9.79% 10.91% 11.72% 25.56% 7.90 15,575
9.94% 11.91% 9.94% 11.02% 11.60% 24.50% 7.87 15,970
10.09% 12.04% 10.09% 11.13% 11.49% 23.57% 7.84 16,371
10.23% 12.16% 10.23% 11.23% 11.38% 22.75% 7.82 16,778
Participación de los trabajadores (10%) Impuesto a la renta Utilidad Neta
-
DATA ADICIONAL Precio de la acción en bolsa Numero de acciones de la empresa Valor de mercado de la empresa Beneficios por Acción Costo del Capital Propio ( Ke ) Costo Promedio Ponderado de Capital ( CPPC )
RESULTADOS OBTENIDOS
ROA - Incluyendo el efecto tributario ROA - Sin considerar los intereses ROI - Rendimiento sobre Inversión ROIA - Rentabilidad económica ampliada ROIC - Rendimiento sobre el capital invertido Rendimiento sobre el Patrimonio ( ROE ) Price Earning Ratio ( PER ) Valor Económico Agregado ( EVA )
Valor del PER
8 7.9 7.8 7.7 7.6 7.5
25000 20000 15000 10000 5000 2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2011
2012
2013
2014
Valor en Porcentaje
Valor del ROE en el tiempo 0.3 0.25 0.2 0.15 0.1 0.05 0 2005
2006
2007
2008
2009
2010
Valor en Porcentaje
Valor del ROI y del ROIA en el tiempo 0.12 0.115 0.11 0.105 0.1 0.095 0.09 0.085 2005
2006
2007 ROI
2008
2009
ROIA
2010
2011
ROIC
2012
2013
2014
2009
2010
2011
2012
2013
2014
7,690 15,000
8,552 15,000
9,459 15,000
10,415 15,000
11,421 15,000
12,480 15,000
20,000
20,000
20,000
20,000
20,000
20,000
2,000
2,000
2,000
2,000
2,000
2,000
3,000 66,071
3,000 68,655
3,000 71,377
3,000 74,244
3,000 77,262
3,000 80,440
1,000 114,762
1,000 118,207
1,000 121,836
1,000 125,658
1,000 129,683
1,000 133,920
5,000
5,000
5,000
5,000
5,000
5,000
314,603
328,384
342,900
358,188
374,287
391,237
25,556 15,000
25,556 15,000
25,556 15,000
25,556 15,000
25,556 15,000
25,556 15,000
423,809
441,036
459,181
478,291
498,415
519,602
5,000
5,000
5,000
5,000
5,000
5,000
18,000
18,000
18,000
18,000
18,000
18,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
1,000 35,000 60,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
20,000 15,000 125,000
220,000
220,000
220,000
220,000
220,000
220,000
NERAL
-
120,000 10,000 73,809
120,000 10,000 91,036
120,000 10,000 109,181
120,000 10,000 128,291
120,000 10,000 148,415
120,000 10,000 169,602
203,809
221,036
239,181
258,291
278,415
299,602
423,809 Ok
441,036 Ok
459,181 Ok
478,291 Ok
498,415 Ok
519,602 Ok
638,141 638,141 370,122 268,019 63,814 140,391 63,814 4,000
670,048 670,048 388,628 281,420 67,005 147,411 67,005 4,000
703,550 703,550 408,059 295,491 70,355 154,781 70,355 4,000
738,728 738,728 428,462 310,266 73,873 162,520 73,873 4,000
775,664 775,664 449,885 325,779 77,566 170,646 77,566 4,000
814,447 814,447 472,379 342,068 81,445 179,178 81,445 4,000
-
-
-
-
-
59,814
63,005
66,355
69,873
73,566
77,445
5,981
6,300
6,636
6,987
7,357
7,744
10,767
11,341
11,944
12,577
13,242
13,940
43,066
45,363
47,776
50,308
52,968
55,760
2.94
3.08
3.24
3.40
3.57
3.75
120,000
120,000
120,000
120,000
120,000
120,000
352,254
369,866
388,360
407,778
428,167
449,575
0.36
0.38
0.40
0.42
0.44
0.46
13.50%
13.50%
13.50%
13.50%
13.50%
13.50%
9.61%
9.76%
9.91%
10.05%
10.19%
10.32%
2009
2010
2011
2012
2013
2014
10.36% 12.28% 10.36% 11.32% 11.27% 22.01% 7.79 17,192
10.49% 12.40% 10.49% 11.42% 11.17% 21.36% 7.77 17,612
10.61% 12.50% 10.61% 11.50% 11.08% 20.76% 7.74 18,041
10.73% 12.61% 10.73% 11.59% 10.98% 20.23% 7.72 18,477
10.85% 12.71% 10.85% 11.67% 10.90% 19.74% 7.70 18,922
10.95% 12.80% 10.95% 11.74% 10.81% 19.29% 7.68 19,375
Valor Economico Añadido EVA 25000 20000 15000 10000 5000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Valor del ROA en el tiempo 0.15 0.1 0.05 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 ROA
ROA (sin intereses)
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