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 $5,600,000.00 $5,989,571.84 $6,419,269.71 $6,859,881.97 $7,305,911.49

Inventario inicial $0.00 $500,000.00 $466,666.67 $499,130.99 $534,939.14 $571,656.83

Compras $500,000.00 $5,566,666.67 $6,022,036.16 $6,455,077.87 $6,896,599.66 $7,343,080.62

Inventario final $500,000.00 $466,666.67 $499,130.99 $534,939.14 $571,656.83 $608,825.96

UTILIDAD BRUTA $0.00 $2,400,000.00 $2,566,959.36 $2,751,115.59 $2,939,949.41 $3,131,104.93

Gastos administrativos $0.00 $560,000.00 $598,957.18 $641,926.97 $685,988.20 $730,591.15

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 $36,000.00 $38,504.39 $41,266.73 $44,099.24 $46,966.57

Gastos por depreciación $0.00 $110,000.00 $110,000.00 $110,000.00 $110,000.00 $110,000.00

UTILIDAD OPERATIVA $0.00 $1,294,000.00 $1,391,671.23 $1,499,402.62 $1,609,870.41 $1,721,696.38

Intereses $0.00 $66,770.00 $56,288.95 $44,535.49 $31,355.17 $16,574.76

Bonos $0.00 $82,500.00 $82,500.00 $82,500.00 $82,500.00 $82,500.00

Gastos financieros $0.00 $149,270.00 $138,788.95 $127,035.49 $113,855.17 $99,074.76

UTILIDAD ANTES DE IMPUESTOS $0.00 $1,144,730.00 $1,252,882.28 $1,372,367.13 $1,496,015.24 $1,622,621.63

Impuesto sobre la renta $0.00 $400,655.50 $438,508.80 $480,328.49 $523,605.33 $567,917.57

UTILIDAD NETA DEL EJERCICIO $0.00 $744,074.50 $814,373.48 $892,038.63 $972,409.90 $1,054,704.06

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 VALORACIÓN DE LA EMPRESA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año 5 (Perpetuidad)



Utilidad operativa $0.00 $1,294,000.00 $1,391,671.23 $1,499,402.62 $1,609,870.41 $1,721,696.38

Tasa de impuesto (Tx) $0.00 $0.35 $0.35 $0.35 $0.35 $0.35

UODI $0.00 $841,100.00 $904,586.30 $974,611.70 $1,046,415.76 $1,119,102.65

Capital de trabajo operativo $500,000.00 ($646,666.67) ($705,276.25) ($756,076.43) ($807,663.10) ($859,790.17)

Inversión en capital de trabajo neto operativo KTNO $500,000.00 ($1,146,666.67) ($58,609.58) ($50,800.19) ($51,586.67) ($52,127.07)

Flujo de caja bruto $0.00 $951,100.00 $1,014,586.30 $1,084,611.70 $1,156,415.76 $1,229,102.65

Inversión neta en KTNO $500,000.00 ($1,146,666.67) ($58,609.58) ($50,800.19) ($51,586.67) ($52,127.07)

Inversión en activos fijos $1,100,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

Flujo de caja libre FCF $1,600,000.00 ($195,566.67) $955,976.72 $1,033,811.52 $1,104,829.10 $1,176,975.58

Factor de descuento $1.00 $0.94 $0.88 $0.83 $0.77 $894.72

VP FCF $1,600,000.00 ($183,478.05) $841,445.28 $853,707.73 $855,957.56 $1,053,067,939.92

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 $12,317,728.46 $13,276,717.60 $14,301,377.24 $15,396,451.14 $16,011,100.84

Efectivo y equivalentes a efectivo $9,500,000.00 $11,851,061.79 $12,777,586.62 $13,766,438.09 $14,824,794.31 $15,402,274.88

Cuentas comerciales por cobrar y otras cuentas por cobrar $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Inventarios $500,000.00 $466,666.67 $499,130.99 $534,939.14 $571,656.83 $608,825.96

Activo no Corriente $1,100,000.00 $990,000.00 $880,000.00 $770,000.00 $660,000.00 $550,000.00

Propiedades, planta y equipo $1,100,000.00 $1,100,000.00 $1,100,000.00 $1,100,000.00 $1,100,000.00 $1,100,000.00

Depreciación $0.00 $110,000.00 $220,000.00 $330,000.00 $440,000.00 $550,000.00

Propiedades, planta y equipo neto $1,100,000.00 $990,000.00 $880,000.00 $770,000.00 $660,000.00 $550,000.00

TOTAL ACTIVO $11,100,000.00 $13,307,728.46 $14,156,717.60 $15,071,377.24 $16,056,451.14 $16,561,100.84

Pasivo Corriente $0.00 $1,513,988.83 $1,642,916.03 $1,771,344.07 $1,902,925.26 $2,036,533.69

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

Proveedores y cuentas por pagar $0.00 $1,113,333.33 $1,204,407.23 $1,291,015.57 $1,379,319.93 $1,468,616.12

Impuesto sobre la renta $0.00 $400,655.50 $438,508.80 $480,328.49 $523,605.33 $567,917.57

Pasivo no corriente $1,100,000.00 $1,049,665.13 $955,353.59 $849,546.55 $730,629.36 $46,966.57

Pasivo por beneficio a empleados $0.00 $36,000.00 $38,504.39 $41,266.73 $44,099.24 $46,966.57

Pasivos financieros $550,000.00 $463,665.13 $366,849.20 $258,279.82 $136,530.12 ($0.00)

Títulos emitidos – bonos en circulación $550,000.00 $550,000.00 $550,000.00 $550,000.00 $550,000.00 $0.00

TOTAL PASIVO $1,100,000.00 $2,563,653.96 $2,598,269.62 $2,620,890.62 $2,633,554.62 $2,083,500.27

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

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

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

Utilidad acumulada $0.00 $0.00 $744,074.50 $1,558,447.98 $2,450,486.61 $3,422,896.52

Utilidad del periodo $0.00 $744,074.50 $814,373.48 $892,038.63 $972,409.90 $1,054,704.06

TOTAL PATRIMONIO $10,000,000.00 $10,744,074.50 $11,558,447.98 $12,450,486.61 $13,422,896.52 $14,477,600.58

TOTAL PASIVO Y PATRIMONIO $11,100,000.00 $13,307,728.46 $14,156,717.60 $15,071,377.24 $16,056,451.14 $16,561,100.84

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

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS