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 $60,700.00 $51,171.77 $40,486.81 $28,504.70 $15,067.96

Bonos $0.00 $75,000.00 $75,000.00 $75,000.00 $75,000.00 $75,000.00

Gastos financieros $0.00 $135,700.00 $126,171.77 $115,486.81 $103,504.70 $90,067.96

UTILIDAD ANTES DE IMPUESTOS $0.00 $2,136,300.00 $2,310,839.73 $2,503,532.43 $2,702,145.30 $2,904,507.41

Impuesto sobre la renta $0.00 $704,979.00 $762,577.11 $826,165.70 $891,707.95 $958,487.44

UTILIDAD NETA DEL EJERCICIO $0.00 $1,431,321.00 $1,548,262.62 $1,677,366.73 $1,810,437.35 $1,946,019.96

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 $13,125,813.75 $14,837,956.92 $16,656,597.01 $18,599,787.58 $20,167,238.49

Efectivo y equivalentes a efectivo $9,500,000.00 $11,925,813.75 $13,554,477.24 $15,281,039.22 $17,129,812.87 $18,601,686.03

Cuentas comerciales por cobrar y otras cuentas por cobrar $0.00 $800,000.00 $855,653.12 $917,038.53 $979,983.14 $1,043,701.64

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 $14,025,813.75 $15,637,956.92 $17,356,597.01 $19,199,787.58 $20,667,238.49

Pasivo Corriente $0.00 $1,644,979.00 $1,794,926.17 $1,932,750.48 $2,073,982.18 $2,217,301.27

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

Proveedores y cuentas por pagar $0.00 $940,000.00 $1,032,349.06 $1,106,584.78 $1,182,274.23 $1,258,813.82

Impuesto sobre la renta $0.00 $704,979.00 $762,577.11 $826,165.70 $891,707.95 $958,487.44

Pasivo no corriente $1,000,000.00 $949,513.75 $863,447.13 $766,896.18 $658,417.70 $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 $500,000.00 $421,513.75 $333,499.27 $234,799.84 $124,118.29 $0.00

Títulos emitidos – bonos en circulación $500,000.00 $500,000.00 $500,000.00 $500,000.00 $500,000.00 $0.00

TOTAL PASIVO $1,000,000.00 $2,594,492.75 $2,658,373.30 $2,699,646.66 $2,732,399.88 $2,253,830.82

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 $1,431,321.00 $2,979,583.62 $4,656,950.35 $6,467,387.70

Utilidad del periodo $0.00 $1,431,321.00 $1,548,262.62 $1,677,366.73 $1,810,437.35 $1,946,019.96

TOTAL PATRIMONIO $10,000,000.00 $11,431,321.00 $12,979,583.62 $14,656,950.35 $16,467,387.70 $18,413,407.67

TOTAL PASIVO Y PATRIMONIO $11,000,000.00 $14,025,813.75 $15,637,956.92 $17,356,597.01 $19,199,787.58 $20,667,238.49

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 $260,000.00 $251,130.62 $268,973.02 $287,700.48 $306,738.64

Inversión en capital de trabajo neto operativo KTNO $500,000.00 -$240,000.00 -$8,869.38 $17,842.39 $18,727.46 $19,038.16

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 -$240,000.00 -$8,869.38 $17,842.39 $18,727.46 $19,038.16

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 $1,382,240.00 $1,723,928.33 $1,872,585.29 $1,998,512.97 $2,125,403.66

Factor de descuento 1.0000 0.9170 0.8409 0.7712 0.7072 27.7804

VP FCF $1,500,000.00 $1,267,556.09 $1,449,728.46 $1,444,085.12 $1,413,324.49 $59,044,486.91

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 

3% 0.52 11 %

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS