ESTADO DE RESULTADOS

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Ingresos operacionales - Ventas $0.00 $8,000,000.00 $8,556,531.20 $9,170,385.30 $9,799,831.38 $10,437,016.42

Costo de mercancia Vendida $0.00 $4,800,000.00 $5,133,918.72 $5,502,231.18 $5,879,898.83 $6,262,209.85

Inventario inicial $0.00 $500,000.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57

Compras $500,000.00 $4,700,000.00 $5,161,745.28 $5,532,923.89 $5,911,371.13 $6,294,069.10

Inventario final $500,000.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57 $521,850.82

UTILIDAD BRUTA $0.00 $3,200,000.00 $3,422,612.48 $3,668,154.12 $3,919,932.55 $4,174,806.57

Gastos administrativos $0.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57 $521,850.82

Gastos operativos $0.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57 $521,850.82

Gastos por beneficios a empleados $0.00 $28,000.00 $29,947.86 $32,096.35 $34,299.41 $36,529.56

Gastos por depreciación $0.00 $100,000.00 $100,000.00 $100,000.00 $100,000.00 $100,000.00

UTILIDAD OPERATIVA $0.00 $2,272,000.00 $2,437,011.50 $2,619,019.24 $2,805,650.00 $2,994,575.37

Intereses $0.00 $42,060.00 $34,747.62 $26,922.64 $18,549.12 $9,588.63

Bonos $0.00 $60,000.00 $60,000.00 $60,000.00 $60,000.00 $60,000.00

Gastos financieros $0.00 $102,060.00 $94,747.62 $86,922.64 $78,549.12 $69,588.63

UTILIDAD ANTES DE IMPUESTOS $0.00 $2,169,940.00 $2,342,263.88 $2,532,096.61 $2,727,100.88 $2,924,986.74

Impuesto sobre la renta $0.00 $716,080.20 $772,947.08 $835,591.88 $899,943.29 $965,245.62

UTILIDAD NETA DEL EJERCICIO $0.00 $1,453,859.80 $1,569,316.80 $1,696,504.73 $1,827,157.59 $1,959,741.12

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Activo Corriente $10,000,000.00 $12,663,626.40 $14,326,306.49 $16,105,271.40 $18,009,003.71 $19,637,762.13

Efectivo y equivalentes a efectivo $9,500,000.00 $11,863,626.40 $13,470,653.37 $15,188,232.87 $17,029,020.57 $18,594,060.49

Cuentas comerciales por cobrar y otras cuentas por cobrar $0.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57 $521,850.82

Inventarios $500,000.00 $400,000.00 $427,826.56 $458,519.27 $489,991.57 $521,850.82

Activo no Corriente $1,000,000.00 $900,000.00 $800,000.00 $700,000.00 $600,000.00 $500,000.00

Propiedades, planta y equipo $1,000,000.00 $1,000,000.00 $1,000,000.00 $1,000,000.00 $1,000,000.00 $1,000,000.00

Depreciación $0.00 $100,000.00 $200,000.00 $300,000.00 $400,000.00 $500,000.00

Propiedades, planta y equipo neto $1,000,000.00 $900,000.00 $800,000.00 $700,000.00 $600,000.00 $500,000.00

TOTAL ACTIVO $11,000,000.00 $13,563,626.40 $15,126,306.49 $16,805,271.40 $18,609,003.71 $20,137,762.13

Pasivo Corriente $0.00 $1,186,080.20 $1,289,121.61 $1,388,884.27 $1,491,080.40 $1,594,652.53

Obligaciones financieras Corto plazo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Proveedores y cuentas por pagar $0.00 $470,000.00 $516,174.53 $553,292.39 $591,137.11 $629,406.91

Impuesto sobre la renta $0.00 $716,080.20 $772,947.08 $835,591.88 $899,943.29 $965,245.62

Pasivo no corriente $1,000,000.00 $923,686.40 $814,008.28 $696,705.80 $571,084.38 $36,529.56

Pasivo por beneficio a empleados $0.00 $28,000.00 $29,947.86 $32,096.35 $34,299.41 $36,529.56

Pasivos financieros $600,000.00 $495,686.40 $384,060.42 $264,609.45 $136,784.97 ($0.00)

Títulos emitidos – bonos en circulación $400,000.00 $400,000.00 $400,000.00 $400,000.00 $400,000.00 $0.00

TOTAL PASIVO $1,000,000.00 $2,109,766.60 $2,103,129.89 $2,085,590.07 $2,062,164.79 $1,631,182.09

Capital emitido $10,000,000.00 $10,000,000.00 $10,000,000.00 $10,000,000.00 $10,000,000.00 $10,000,000.00

Utilidad acumulada $0.00 $0.00 $1,453,859.80 $3,023,176.60 $4,719,681.33 $6,546,838.92

Utilidad del periodo $0.00 $1,453,859.80 $1,569,316.80 $1,696,504.73 $1,827,157.59 $1,959,741.12

TOTAL PATRIMONIO $10,000,000.00 $11,453,859.80 $13,023,176.60 $14,719,681.33 $16,546,838.92 $18,506,580.04

TOTAL PASIVO Y PATRIMONIO $11,000,000.00 $13,563,626.40 $15,126,306.49 $16,805,271.40 $18,609,003.71 $20,137,762.13

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Cuadre $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 VALORACIÓN DE LA EMPRESA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Perpetuidad 

Utilidad operativa $0.00 $2,272,000.00 $2,437,011.50 $2,619,019.24 $2,805,650.00 $2,994,575.37

Tasa de impuesto (Tx) 0% 33% 33% 33% 33% 33%

UODI $0.00 $1,522,240.00 $1,632,797.71 $1,754,742.89 $1,879,785.50 $2,006,365.50

Capital de trabajo operativo $500,000.00 $330,000.00 $339,478.59 $363,746.14 $388,846.02 $414,294.73

Inversión en capital de trabajo neto operativo KTNO $500,000.00 -$170,000.00 $9,478.59 $24,267.55 $25,099.88 $25,448.71

Flujo de caja bruto $0.00 $1,622,240.00 $1,732,797.71 $1,854,742.89 $1,979,785.50 $2,106,365.50

Inversión neta en KTNO $500,000.00 -$170,000.00 $9,478.59 $24,267.55 $25,099.88 $25,448.71

Inversión en activos fijos $1,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

Flujo de caja libre FCF $1,500,000.00 $1,452,240.00 $1,742,276.30 $1,879,010.44 $2,004,885.39 $2,131,814.20

Factor de descuento 1.0000 0.9243 0.8543 0.7896 0.7298 43.1445

VP FCF $1,500,000.00 $1,342,261.87 $1,488,383.16 $1,483,630.56 $1,463,136.98 $91,976,028.40

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 INDICADORES MACROECONÒMICOS

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año 5 

PIB 2.52 % 3.06 % 3.60 % 3.40 % 3.40 % 3.40 %

Inflación 3.34 % 3.24 % 3.65 % 3.35 % 3.00 % 3.00 %

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 CAPM

Rf  Ba  Em 

5% 0.52 11 %

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS