ventas

costo de ventas
utilidad bruta
gastos operativos
utilidad operativa
gastos financieros
utilidad antes de participacion e IR
participacion (0.05)
IR (0.28)
utilidad neta
margen operativa constante
/=0.4
=0.4
0.4+=60
=42.86
=17.14

50

52

54.08

16.334
1.714
14.620
0.731
3.889
10
32.7%

16.987
1.714
15.273
0.764
4.063
10.447
32.7%

17.667
1.714
15.953
0.798
4.243
10.912
32.7%

D=17.14 rd=10%
C=60

E=42.86 re=8.65%

56.2432 58.492928 60.833

18.373
1.714
16.659
0.833
4.431
11.395
32.7%

D=17.14 rd=10%

E=42.86 re=8.65%

63.27

caso a

caso b
ROIL
18.62%
19.37%
WACC
18.74%
22.67%
EVA
negativo
negativo
no crea valor sufienciente
19.108 19.873
20.668
1.714 1.714
1.714
17.394 18.159
18.954
0.870 0.908
0.948
4.627 4.830
5.042
11.898 12.421
12.964
32.7% 32.7%
32.7%
caso a
caso b y c
beta
1.5
2
RP
6%
re=
23.50%
rf
1%
re=
29.00%
rm
12%

caso c
20.14%
20.95%
21.78%
22.65%
23.56%
60.8133 utilidad operativa
22.67%
22.67%
22.67%
22.67%
22.67%
negativo negativo negativo negativo positivo
21.6%
hay que esperar 6 aos

ilidad operativa
21.6%