95.

50%
4.50%
26%
Margen neto

CAGR
HP
Ventas
Costo ventas
U bruta
tax
Utilidad desp imp
Utilidad neta
Valor terminal
FCL
VAN

CAGR
COMPAQ
Ventas
25.30% Margen neto
VALOR TERMINAL
FCL
VAN
Relacion
Fusin
Ventas
Margen

-1.30%
2001
45,226
43,191
2,035
529
1,506
12,935

2002
44,638
42,629
2,009
522
1,486
12,766

2003
44,058
42,075
1,983
515
1,467
12,601

12,766

12,601

2,002
34,393
8,701

2,003
35,253
8,919

8,489
67,913
51
0.86

8,701

8,919

2,001

2,002

2,003

12.35
1,339
16,536.65

15

0.84

12,935
79,354
59

2.5%
2,001
33,554
8,489

2004
43,485
41,528
1,957
509
1,448
12,437

2005
42,920
40,988
1,931
502
1,429
12,275

2006
42,362
40,455
1,906
496
1,411
12,115

2007
41,811
39,930
1,881
489
1,392
11,958
72,408
84,366

12,437

12,275

12,115

2,004
36,134
9,142

2,005
37,037
9,370

2,006
37,963
9,605

9,142

9,370

9,605

2,007
38,912
9,845
80,728
90,572

2,004
92.8

2,005

2,006

2,007