Documentos de Académico
Documentos de Profesional
Documentos de Cultura
0 1
Inversion (CAPEX) S/.1,200,000 + Ventas S/.3,000,000
CAPEX anuales S/.100,000 - Costo de ventas S/.1,800,000
Depreciacion 7.00 años = Margen Bruto S/.1,200,000
Impuesto 29.50% Comisiones -S/.90,000
Gastos comerciales -S/.80,000
Ventas esperadas S/.3,000,000 Gastos administativo S/.0
Comision de venta 3.00% Gastos de taller -S/.300,000
Gastos comerciales S/.80,000 = EBITDA S/.730,000
- Depreciacion -S/.171,429
Costo de ventas 60% = EBIT S/.558,571
gastos taller S/.300,000 - Impuestos S/.164,779
Gastos administrativos 0 + Depreciación S/.171,429
= NOPAT S/.565,221
PPC 90 dias 750000 - CAPEX S/.1,200,000 S/.100,000
PPI 60 dias 300000 - Inversiones en capital de 900000
PPP 30 dias 150000 + Valor de recupero
Capital de trabajo 900000 + Recupero del cap de trabajo
Precio de venta S/.300,000 = Flujo de caja libre -S/.2,100,000 S/.465,221
Valor de recupero = Precio de vta - imp x (ganancia de capital)
Ganancia de capital = Precio de venta - valor contable VAN S/.664,767
recupero de capital de traba 80.00% TIR 17.56%
IR 1.36
CCPP (WACC) 11.00%
tasa del Banco 8.00% Activo FIJo S/.1,200,000 S/.1,300,000
Depreciación -S/.171,429
Precio de venta del activo S/.300,000 Activo Fijo Neto S/.1,200,000 S/.1,128,571
valor contable S/.1,471,429
Ganancia de capital -S/.1,171,429 Cuentas por cobrar
Valor de recupero S/.645,571 Inventarios
Cuentas por pagar
Capital de trabajo
Inversiones en capital de trabajo
VAN TIR
S/.1,500,000
S/.2,500,000
S/.3,000,000
S/.3,500,000
S/.4,000,000
0
S/.300,000
Capacidad de pago
Ratio Cobertura = EBITDA / intereses =12.5
EBITDA
Cobertura
Intereses que podriamos pagar
Tasa del Banco
Prestamo
TIR
Cronograma de pago con cuotas fijas
Saldo Interes
0
1
2
3
4
5
Flujo de caja libre
2 3 4 5
S/.3,000,000 S/.3,000,000 S/.3,000,000 S/.3,000,000
S/.1,800,000 S/.1,800,000 S/.1,800,000 S/.1,800,000
S/.1,200,000 S/.1,200,000 S/.1,200,000 S/.1,200,000
-S/.90,000 -S/.90,000 -S/.90,000 -S/.90,000
-S/.80,000 -S/.80,000 -S/.80,000 -S/.80,000
S/.0 S/.0 S/.0 S/.0
-S/.300,000 -S/.300,000 -S/.300,000 -S/.300,000
S/.730,000 S/.730,000 S/.730,000 S/.730,000
-S/.185,714 -S/.200,000 -S/.214,286 -S/.228,571
S/.544,286 S/.530,000 S/.515,714 S/.501,429
S/.160,564 S/.156,350 S/.152,136 S/.147,921
S/.185,714 S/.200,000 S/.214,286 S/.228,571
S/.569,436 S/.573,650 S/.577,864 S/.582,079
S/.100,000 S/.100,000 S/.100,000 S/.100,000
S/.645,571
S/.720,000
S/.469,436 S/.473,650 S/.477,864 S/.1,847,650
ROI
Ut neta / Inversion accionistas
Costo de la
deuda
Rating Cobertura min Cobertura max
C 0.50 0.80
CC 0.80 1.25
CCC 1.25 1.50
B- 1.50 2.00
B- 2.00 2.50
B+ 2.50 3.00
BB 3.00 3.50
BB+ 3.50 4.00
BBB 4.00 4.50
A- 4.50 6.00
A- 6.00 7.50
A+ 7.50 9.50
AA 9.50 12.50
AAA 12.50 -