Promedio de los 2 ultimos años

Año 2012 118,000,000,000

Año 2011 106,908,185,000
224,908,185,000 /2
Promedio 112,454,092,500

Ingreso por atenciones medicas

112,454,092,500 * 20 % 22,490,818,500
crecimiento del 10 % 22,490,818,500

examenes de laboratorio
112,454,092,500 * 30% 33,736,227,750
crecimiento del 8% 33,736,227,750

ingreso por dia cama

112,454,092,500 * 40% 44,981,637,000
crecimiento de 7% 44,981,637,000

Otros Ingresos
112,454,092,500 *10% 11,245,409,250
crecimiento de 5% 11,245,409,250

2013 2014 2015

24,739,900,350 27,213,890,385 29,935,279,424
36,435,125,970 39,349,936,048 42,497,930,931
48,130,351,590 51,499,476,201 55,104,439,535
11,807,679,713 12,398,063,698 13,017,966,883
121,113,057,623 130,461,366,332 140,555,616,773

Costos de Explotacion
57,323,200,000 52,124,690,400 109,447,890,400

Costo de laboratorio 54,723,945,200

crecimiento de 12% 21,889,578,080

Atenciones medicas 54,723,945,200

10,944,789,040

Costo por dia cama 54,723,945,200

 10,944,789,040

Otros Ingresos 54,723,945,200

10,944,789,040

2013 2014 2015

11,492,028,492 12,066,629,917 12,669,961,412
24,516,327,450 27,458,286,744 30,753,281,153
11,492,028,492 12,066,629,917 12,669,961,412
11,492,028,492 12,066,629,917 12,669,961,412
58,992,412,926 63,658,176,493 68,763,165,390

Gastos de Administracion
2013 121,113,057,623 30% 36,333,917,287
2014 130,461,366,332 18% 23,483,045,940
2015 140,555,616,773 16% 22,488,898,684
2016 151,457,188,302 10% 15,145,718,830
2017 163,232,656,053 10% 16,323,265,605
2018 175,954,242,317 10% 17,595,424,232
2019 189,700,308,044 10% 18,970,030,804
2020 204,555,888,141 10% 20,455,588,814
2021 220,613,274,526 10% 22,061,327,453
2022 237,972,651,290 10% 23,797,265,129
2023 256,742,786,727 10% 25,674,278,673

2013 2014 2015

ING operacionales
(ventas) ventas netas 121,113,057,623 130,461,366,332 140,555,616,773

Gastos
Operacionales
Costo operacional
sin depreciacion 58,992,412,926 63,658,176,493 68,763,165,390
Depreciacion 17,992,654,800 18,892,287,540 19,836,901,917
Gastos
administrativos 36,333,917,287 23,483,045,940 22,488,898,684
Total
113,318,985,012 106,033,509,973 111,088,965,991

Resultado
operacional 7,794,072,610 24,427,856,359 29,466,650,783
Gastos no Otros ING NO
Operacionales Operacionales 655,107,000 707,515,560 764,116,805
Gastos
Financieros -1,480,000,000 -1,480,000,000 -1,480,000,000
Diferencias de
Cambios -588,663,000 -588,663,000 -588,663,000

Total -1,413,556,000 -1,361,147,440 -1,304,546,195

Resultados antes
de impuestos 6,380,516,610 23,066,708,919 28,162,104,587

Impuestos 1,595,129,153 5,997,344,319 7,322,147,193

UTILIDAD NETA 4,785,387,458 17,069,364,600 20,839,957,395

deuda 19,600,000,000
0.128440367 12.84%
activo 152,600,000,000

Patrimonio 133,000,000,000
0.871559633 87.16%
Activo 152,600,000,000

Promedio
Ponderado Costo deuda bancaria a
Deuda corto plazo 8% Tasa Corto plazo

Deuda largo Plaza 9.20% Tasa Largo plazo

Otras Deudas 20% Otras deudas

costo patrimonial

bata patrimonial 1,55/(1+0,7*0,5) beta patrimonial

sin deuda con deuda
1.15

0,055+0,085*1,78
Costo Patrimonial
0.206
Costo Capital 0,107*(1-0,20)*0,1284+0,206*0,8716
Promedio
0.1905
*1,10 24,739,900,350

* 1,08 36,435,125,970

*1,07 48,130,351,590

*1,05 11,807,679,713

2016 2017 2018 2019 2020

32,928,807,366 36,221,688,102
45,897,765,406 49,569,586,638
58,961,750,303 63,089,072,824
13,668,865,227 14,352,308,489
151,457,188,302 163,232,656,053
39,843,856,913 43,828,242,604 48,211,066,864
53,535,153,569 57,817,965,855 62,443,403,123
67,505,307,922 72,230,679,476 77,286,827,040
15,069,923,913 15,823,420,109 16,614,591,114
175,954,242,317 189,700,308,044 204,555,888,141

/2 54,723,945,200

*40% 21,889,578,080
*12% 24,516,327,450

*20% 10,944,789,040
*5% 11,492,028,492

*20% 10,944,789,040
*5% 11,492,028,492

*20% 10,944,789,040
*5% 11,492,028,492

2016 2017 2018 2019 2020

13,303,459,483 13,968,632,457 14,667,064,080 15,400,417,284 16,170,438,148
34,443,674,891 38,576,915,878 43,206,145,783 48,390,883,277 54,197,789,271
13,303,459,483 13,968,632,457 14,667,064,080 15,400,417,284 16,170,438,148
13,303,459,483 13,968,632,457 14,667,064,080 15,400,417,284 16,170,438,148
74,354,053,340 80,482,813,250 87,207,338,024 94,592,135,130 102,709,103,716

Estado de Resultados
2016 2017 2018 2019 2020

151,457,188,302 163,232,656,053 175,954,242,317 189,700,308,044 204,555,888,141

74,354,053,340 80,482,813,250 87,207,338,024 94,592,135,130 102,709,103,716

20,828,747,013 21,870,184,363 22,963,693,582 24,111,878,261 25,317,472,174

15,145,718,830 16,323,265,605 17,595,424,232 18,970,030,804 20,455,588,814

110,328,519,183 118,676,263,218 127,766,455,837 137,674,044,195 148,482,164,703

41,128,669,119 44,556,392,835 48,187,786,480 52,026,263,849 56,073,723,438

 825,246,149 891,265,841 962,567,108 1,039,572,477 1,122,738,275

-1,480,000,000 -1,480,000,000 -1,480,000,000 -1,480,000,000 -1,480,000,000

-588,663,000 -588,663,000 -588,663,000 -588,663,000 -588,663,000

-1,243,416,851 -1,177,397,159 -1,106,095,892 -1,029,090,523 -945,924,725

39,885,252,268 43,378,995,676 47,081,690,588 50,997,173,326 55,127,798,713

13,959,838,294 15,182,648,487 16,478,591,706 17,849,010,664 19,294,729,550

25,925,413,974 28,196,347,189 30,603,098,882 33,148,162,662 35,833,069,164

Otras deudas de corto (1,02)^12 = 1,26/1,05 = 1,20-1 = 0,20

a 2% nomina mensual
(%) 20%

10% 80

75% 690
15% 300
costo deuda 10.70%

1,15*(1+0,6*0,9)

1.78
 2021 2022 2023
53,032,173,551 58,335,390,906 64,168,929,996
67,438,875,373 72,833,985,403 78,660,704,235
82,696,904,932 88,485,688,278 94,679,686,457
17,445,320,670 18,317,586,703 19,233,466,038
220,613,274,526 237,972,651,290 256,742,786,727
 2021 2022 2023
16,978,960,056 17,827,908,058 18,719,303,461
60,701,523,983 67,985,706,861 76,143,991,685
16,978,960,056 17,827,908,058 18,719,303,461
16,978,960,056 17,827,908,058 18,719,303,461
111,638,404,150 121,469,431,037 132,301,902,069

2021 2022 2023

220,613,274,526 237,972,651,290 256,742,786,727

111,638,404,150 121,469,431,037 132,301,902,069

26,583,345,782 27,912,513,072 29,308,138,725

22,061,327,453 23,797,265,129 25,674,278,673

160,283,077,385 173,179,209,237 187,284,319,467

60,330,197,141 64,793,442,053 69,458,467,261

 1,212,557,337 1,309,561,924 1,414,326,878

-1,480,000,000 -1,480,000,000 -1,480,000,000

-588,663,000 -588,663,000 -588,663,000

-856,105,663 -759,101,076 -654,336,122

59,474,091,478 64,034,340,977 68,804,131,139

20,815,932,017 22,412,019,342 24,081,445,899

38,658,159,461 41,622,321,635 44,722,685,240

/1,05 = 1,20-1 = 0,20

20%