PLAN DE INVERCION: LUDOTECA "CUIDADO BEBE"

RUBRO VALOR UNITARIO (S/.)

1. ACTIVO FIJO
1.1 ADECUACIÓN DE LOS AMBIENTES
Inversión en infraestructura 5,000.00

1.2 JUEGOS
Juegos simbólicos 1,500.00
Juegos de ensamblaje 1,500.00
Juegos de reglas matemáticas 1,500.00
Juegos de reglas musicales 2,500.00
Otros juegos 1,000.00
1.3 EQUIPOS TECNOLOGICOS
Televesores Led 2,500.00
Equipo de sonido 1,500.00
Computadora portatil 2,500.00

1. 4 MUEBLES Y ENSERES
Estructuras y armarios 8,000.00
Sillas, mesas y sillones 4,000.00

TOTAL ACTIVO FIJO

"CUIDADO BEBE"

UNIDADES REQUERIDAS COSTO TOTAL

1 5,000.00

1 1,500.00
1 1,500.00
1 1,500.00
1 2,500.00
1 1,000.00

1 2,500.00
1 1,500.00
1 2,500.00

1 8,000.00
1 4,000.00

S/. 31,500.00
 SERVICIOS DE ALIMENTACION

Usuarios mensuales de 1 hora por dia

Usuarios mensuales de 2 hora por dia
Usuarios mensuales de 3 hora por dia
Usuarios mensuales de 4 hora por dia
Usuario mensuales por día entero

TOTAL COSTO VARIABLE MENSUAL

COSTO VARIABLE ANUAL

COSTO VARIABLE PROMEDIO EN % RESPECTO A LAS VENTAS
COSTO VARIABLE PROMEDIO
 COSTO VARIABLE UNITARIO MES USUARIOS MENSUALES TOTAL

S/. 30.00 5 S/. 150.00

S/. 30.00 10 S/. 300.00
S/. 30.00 15 S/. 450.00
S/. 50.00 30 S/. 1,500.00
S/. 60.00 35 S/. 2,100.00

S/. 4,500.00

12 54,000.00
20%
47.37
COSTOS FIJOS ANUALES (INDIRECTOS) ANUALES

Licencia de funcionamiento
Otros permisos
Alquiler del local
Luz
Agua
Internet
Arbitrios
Mano de obra
TOTAL COSTOS FIJOS (GASTOS GENERALES MENSUAL)
COSTOS FIJOS ANUALES (DIRECTOS)
Mano de obra anual

TOTAL COSTOS FIJOS ANUALES

COSTOS DE MANO DE OBRA RESPECTO A LAS VENTAS

COSTOS DE LOS GASTOS GENERALES RESPECTO A LAS VENTAS

COSTO FIJO MENSUAL PROMEDIO INCLUYE MANO DE OBRA

 UNIDADES
VALOR UNITARIO
REQUERIDAS POR TOTAL S./
(S/.) MES
2,000.00 0.08 166.67
800.00 0.08 66.67
1,500.00 1 1,500.00
150.00 1 150.00
50.00 1 50.00
50.00 1 50.00
40.00 1 40.00
9,150.00 1 9,150.00
11,173.33
12 134,080.00
9,150 12 109,800.00

120,973.33

41.54%
0.77%

11,173.33
ITEMS PERSONAL CANTIDAD

1 Gerente 1
2 Psicologo 1
3 Profesora 1
4 Practicantes 3
5 Operarios (cocina - vigilante - apoyo) 3
TOTAL
COSTO TOTAL (INCLUYE
TOTAL
BENEFICIOS SOCIALES

2000 2,000
2200 2,200
1500 1,500
200 600
950 2,850
9,150
 SERVICIOS

Usuarios mensuales de 1 hora por dia

Usuarios mensuales de 2 hora por dia
Usuarios mensuales de 3 hora por dia
Usuarios mensuales de 4 hora por dia
Usuario mensuales por día entero

TOTAL VENTAS MENSUAL

VENTA PROYECTADA ANUAL

PRECIO DE VENTA PROMEDIO

TOTAL USUARIOS
 PRECIO DE VENTA USUARIOS DEL PROGRAMA (MES)

S/. 120.00 5
S/. 150.00 10
S/. 175.00 15
S/. 250.00 30
S/. 280.00 35

12.00

S/. 195.00
95
 TOTAL

S/. 600.00
S/. 1,500.00
S/. 2,625.00
S/. 7,500.00
S/. 9,800.00

S/. 22,025.00

264,300.00
INPUTS DE VALOR

Inversión en activos 31,500

Inversiones anuales adicionales -

Ventas iniciales esperadas 264,300

Crecimiento en ventas esperado 2.0%

Costo de MP 20.4% ventas

Costo de MOD 41.5% ventas

Gastos Generales 0.8% ventas

Depreciación lineal 5 años

Impuesto a la renta 30.0%

Recupero de Inversión
Capital de trabajo (fondo de maniobra) 100.0%
Valor venta de activo -

Tasas
Costo de la deuda (antes de impuesto) 11.80%
Costo de la deuda (despues imp) 8.26%
Riesgo País 1.36%
Beta desapalancada 1.23
Beta apalancado 3.24
Rf 4.00%
Prima de mercado 5.32%
Retorno del accionista 22.59%

Pasivo (deuda) 70.00%

Patrimonio 30.00%
Plazo credito 2.0 años

ROA de laempresa 20.0%

Fondo de Maniobra
Inversión en clientes PPC 30 días de las ventas
Inventarios PPI 10 días de Costo de MP
Proveedores PPP 30 días de Costo de MP
Efectivo 2.00% % de las ventas
base de calculo Año 360 días
 EVALUACIÓN FINANCIERA

Año 1
Ingresos 264,300
Costo de Materias Primas -54,000
Costo de Mano de Obra Directa -109,800
Margen bruto 100,500
Gastos Generales -2,023
Intereses -2,602

EBITDA 95,875
Depreciación -6,300
EBIT 89,575
Impuestos -26,872
Depreciacion 6,300
NOPAT 69,002
CAPEX (inversión) -31,500 0
Inversión en capital de trabajo -24,311
Valor de rescate
Recuperación de capital de trabajo
FLUJO DE EFECTIVO LIBRE -31,500 44,691

RENTABILIDAD % (ANUAL) 26.11

RENTABILIDAD DEL ACTIVO % 219

CCPP (costo del capital) 12.56%

VAN 286,614
TIR 173.37%

INVERSION EN CAPITAL DE TRABAJO

Cuentas por cobrar 22,025
Inventarios 1,500
Efectivo 5,286
Cuentas por pagar 4,500
Fondo de maniobra 24,311
Inversiones en capital de trabajo -24,311
Activo bruto 31,500 31,500
Depreciacion 6,300
Activos fijos neto 31,500 25,200

Pago financiamiento Año 1

Saldo 22,050 11,639
Amortizacion 10,411
Intereses 2,602
Cuota 13,013

Cobertura financiera (CAPACIDAD DE PAGO)

EBITDA / Intereses 37
NOPAT / Intereses 27
EBITDA / cuota 7
NOPAT / Cuota 5
 Año 2 Año 3 Año 4 Año 5 Año 6
269,586 274,978 280,477 286,087 291,809
-55,080 -56,182 -57,305 -58,451 -59,620
-111,996 -114,236 -116,521 -118,851 -121,228
102,510 104,560 106,651 108,784 110,960
-2,064 -2,105 -2,147 -2,190 -2,234
-1,373

99,073 102,455 104,504 106,594 108,726

-6,300 -6,300 -6,300 -6,300 0
92,773 96,155 98,204 100,294 108,726
-27,832 -28,847 -29,461 -30,088 -32,618
6,300 6,300 6,300 6,300 0
71,241 73,609 75,043 76,506 76,108
0 0 0 0
-486 -496 -506 -516 -526

70,755 73,113 74,537 75,990 75,582

26.43 26.77 26.76 26.74 26.08

226 234 238 243 242

PERIODO DE RECUPERACION 1

22,466 22,915 23,373 23,841 24,317

1,530 1,561 1,592 1,624 1,656
5,392 5,500 5,610 5,722 5,836
4,590 4,682 4,775 4,871 4,968
24,797 25,293 25,799 26,315 26,841
-486 -496 -506 -516 -526
31,500 31,500 31,500 31,500
6,300 6,300 6,300 6,300
18,900 12,600 6,300 0

Año 2
0 0 0 0 0
11,639 0 0 0 0
1,373 0 0 0 0
13,013

72
52
8
5
 Año 7
297,645
-60,813
-123,653
113,179
-2,279

110,901 utilidad antes de impuestos, depreciaciones y amortizaciones

0
110,901 utilidad antes de intereses e impuestos
-33,270
0
77,631 Beneficio de explotación neto después del impuesto (utilidad)

-537 INVERSION EN CAPITAL DE TRABAJO

0
27,378
104,472 flujo de efectivo libre

26.08
246

AÑOS

ventas t x PPC / 360

24,804 costo mat primas t x PPI / 360
1,689 % efectivo x ventas
5,953 costo mat primas t X PPP / 360
5,068 CxC + Inventarios + Efectivo - CxP
27,378 Fondo maniobra t - FM t-1
-537
0
0
0
Date updated: 5-Jan-17
Created by: Aswath Damodaran, adamodar@stern.nyu.edu
What is this data? Beta, Unlevered beta and other risk measures
Home Page: http://www.damodaran.com
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
Companies in each industry: http://www.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitions: http://www.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm

Industry Name Number of firms Beta D/E Ratio Tax rate

Advertising 41 1.36 62.98% 5.10%

Aerospace/Defense 96 1.07 23.53% 10.86%

Air Transport 18 1.12 70.12% 22.99%
Apparel 58 0.88 34.21% 10.95%
Auto & Truck 15 0.85 150.42% 8.14%
Auto Parts 63 1.12 35.22% 10.40%
Bank (Money Center) 10 0.86 188.03% 27.90%
Banks (Regional) 645 0.47 60.51% 25.43%
Beverage (Alcoholic) 25 0.79 29.02% 10.86%
Beverage (Soft) 36 0.91 24.51% 5.87%
Broadcasting 30 1.22 95.92% 18.54%
Brokerage & Investment Banking 45 1.08 232.21% 13.59%
Building Materials 41 1.01 26.98% 23.39%
Business & Consumer Services 165 1.07 35.10% 12.61%
Cable TV 14 1.12 49.24% 20.28%
Chemical (Basic) 45 1.00 58.62% 7.71%
Chemical (Diversified) 8 1.52 35.52% 6.59%
Chemical (Specialty) 100 1.20 29.98% 9.58%
Coal & Related Energy 38 1.36 138.55% 0.48%
Computer Services 117 0.99 28.33% 11.18%
Computers/Peripherals 55 1.06 19.60% 5.68%
Construction Supplies 51 1.31 42.57% 18.44%
Diversified 24 0.76 35.98% 11.55%
Drugs (Biotechnology) 426 1.40 19.45% 1.44%
Drugs (Pharmaceutical) 164 1.02 14.58% 2.54%
Education 36 1.23 33.38% 9.29%
Electrical Equipment 119 1.14 19.15% 5.87%
Electronics (Consumer & Office) 24 1.08 19.39% 3.81%
Electronics (General) 164 0.86 17.87% 8.85%
Engineering/Construction 48 1.18 32.45% 15.15%
Entertainment 79 1.20 30.83% 5.50%
Environmental & Waste Services 89 0.85 38.98% 5.07%
Farming/Agriculture 37 0.92 60.04% 7.89%
Financial Svcs. (Non-bank & Insura 258 0.65 1124.41% 20.80%
Food Processing 87 0.75 26.84% 14.66%
Food Wholesalers 16 1.20 36.34% 11.77%
Furn/Home Furnishings 30 0.84 29.01% 14.58%
Green & Renewable Energy 25 1.14 174.38% 4.25%
Healthcare Products 254 1.04 17.96% 6.12%
Healthcare Support Services 121 0.94 32.18% 14.31%
Heathcare Information and Techno 125 0.95 20.70% 6.32%
Homebuilding 33 1.08 66.29% 27.28%
Hospitals/Healthcare Facilities 38 1.10 170.77% 12.06%
Hotel/Gaming 69 0.96 55.28% 11.23%
Household Products 129 0.80 21.20% 9.05%
Information Services 64 0.98 20.46% 16.37%
Insurance (General) 19 0.90 38.95% 18.33%
Insurance (Life) 22 1.03 71.41% 22.91%
Insurance (Prop/Cas.) 50 0.83 31.11% 22.27%
Investments & Asset Management 156 0.90 61.59% 7.71%
Machinery 127 1.06 21.70% 11.73%
Metals & Mining 97 1.30 51.98% 1.16%
Office Equipment & Services 24 1.49 54.32% 16.68%
Oil/Gas (Integrated) 7 1.08 16.91% 1.14%
Oil/Gas (Production and Exploratio 330 1.38 46.98% 0.32%
Oil/Gas Distribution 78 1.20 77.05% 2.93%
Oilfield Svcs/Equip. 148 1.37 32.66% 4.11%
Packaging & Container 26 0.84 56.03% 24.47%
Paper/Forest Products 23 1.12 49.34% 14.46%
Power 68 0.54 87.30% 19.27%
Precious Metals 109 1.25 24.11% 1.84%
Publishing & Newspapers 37 1.32 56.95% 14.32%
R.E.I.T. 238 0.72 79.46% 1.72%
Real Estate (Development) 18 0.68 60.51% 1.97%
Real Estate (General/Diversified) 11 1.27 24.33% 15.32%
Real Estate (Operations & Services) 54 0.99 76.67% 8.78%
Recreation 66 0.92 31.12% 13.21%
Reinsurance 3 0.75 32.38% 19.33%
Restaurant/Dining 86 0.77 35.01% 16.47%
Retail (Automotive) 25 0.91 59.89% 22.58%
Retail (Building Supply) 6 1.30 21.86% 20.11%
Retail (Distributors) 88 1.10 56.95% 16.95%
Retail (General) 19 1.05 39.57% 22.22%
Retail (Grocery and Food) 14 0.69 66.85% 24.11%
Retail (Online) 57 1.23 9.63% 8.46%
Retail (Special Lines) 108 1.02 52.13% 21.29%
Rubber& Tires 4 1.35 72.35% 10.09%
Semiconductor 80 1.20 14.09% 7.71%
Semiconductor Equip 45 1.10 16.35% 11.13%
Shipbuilding & Marine 11 1.20 48.41% 7.30%
Shoe 10 0.85 10.26% 14.47%
Software (Entertainment) 13 0.98 14.74% 1.04%
Software (Internet) 297 1.13 4.27% 3.49%
Software (System & Application) 236 1.13 21.50% 5.67%
Steel 38 1.60 47.93% 7.94%
Telecom (Wireless) 17 1.12 114.58% 9.11%
Telecom. Equipment 107 0.99 24.55% 6.14%
Telecom. Services 67 1.04 65.89% 13.36%
Tobacco 22 1.28 17.18% 8.84%
Transportation 17 1.01 31.98% 17.46%
Transportation (Railroads) 7 0.79 27.94% 22.17%
Trucking 30 1.21 90.80% 26.74%
Utility (General) 18 0.38 68.37% 25.62%
Utility (Water) 22 0.65 43.47% 11.97%
Total Market 7330 1.00 67.90% 10.44%
Total Market (without financials 6100 1.08 35.71% 8.31%
 US companies

data.html
me.xls
datafile/variable.htm

Unlevered beta Cash/Firm value Unlevered beta corrected for cash HiLo Risk
0.85 6.27% 0.91 0.6671

0.89 5.21% 0.94 0.5241

0.73 4.23% 0.76 0.4760
0.67 4.30% 0.71 0.4968
0.35 6.46% 0.38 0.6222
0.85 8.90% 0.94 0.5478
0.37 9.89% 0.41 0.2658
0.33 10.76% 0.36 0.2325
0.63 11.30% 0.71 0.5805
0.74 4.84% 0.78 0.5856
0.68 2.17% 0.70 0.4266
0.36 14.97% 0.42 0.4577
0.83 4.05% 0.87 0.3818
0.82 3.52% 0.85 0.5200
0.80 2.32% 0.82 0.3395
0.65 4.00% 0.68 0.5526
1.14 6.50% 1.22 0.5298
0.94 3.97% 0.98 0.4924
0.57 5.34% 0.61 0.6001
0.79 5.24% 0.83 0.5390
0.89 5.61% 0.94 0.4866
0.98 4.68% 1.02 0.4424
0.58 7.84% 0.63 0.3951
1.18 5.54% 1.25 0.5805
0.89 3.98% 0.93 0.6179
0.94 10.16% 1.05 0.5865
0.97 6.42% 1.04 0.6252
0.91 5.99% 0.97 0.6086
0.74 10.02% 0.83 0.4951
0.93 8.26% 1.01 0.5056
0.93 3.59% 0.97 0.6605
0.62 0.95% 0.63 0.5837
0.59 3.88% 0.62 0.5482
0.07 2.29% 0.07 0.2947
0.61 2.57% 0.63 0.4214
0.91 1.76% 0.93 0.3878
0.67 3.39% 0.69 0.4789
0.43 8.85% 0.47 0.6770
0.89 3.91% 0.92 0.5348
0.74 10.07% 0.82 0.5096
0.80 4.22% 0.83 0.5458
0.73 5.33% 0.77 0.3321
0.44 1.43% 0.45 0.4817
0.64 3.43% 0.67 0.4598
0.67 2.97% 0.69 0.5926
0.84 3.71% 0.87 0.3452
0.69 3.92% 0.71 0.2761
0.67 16.83% 0.80 0.2818
0.67 4.61% 0.70 0.2524
0.57 15.46% 0.68 0.3809
0.89 4.28% 0.93 0.4467
0.86 2.98% 0.89 0.7440
1.03 6.31% 1.09 0.4362
0.93 2.05% 0.95 0.5161
0.94 5.44% 0.99 0.6405
0.68 0.76% 0.69 0.4215
1.04 6.27% 1.11 0.5450
0.59 2.55% 0.60 0.3546
0.79 4.87% 0.83 0.5042
0.32 2.46% 0.33 0.2648
1.01 8.33% 1.10 0.7586
0.89 7.77% 0.96 0.4132
0.41 1.61% 0.41 0.2392
0.43 8.47% 0.47 0.6038
1.05 3.71% 1.09 0.4391
0.58 5.21% 0.62 0.5913
0.73 4.54% 0.76 0.5233
0.59 8.30% 0.65 0.2514
0.59 2.36% 0.61 0.4123
0.62 1.12% 0.63 0.4333
1.11 1.66% 1.12 0.2621
0.75 2.19% 0.77 0.5018
0.80 2.73% 0.82 0.2805
0.46 1.25% 0.46 0.3599
1.13 3.79% 1.17 0.5212
0.73 4.29% 0.76 0.4108
0.82 8.09% 0.89 0.4555
1.06 4.78% 1.11 0.4717
0.96 12.69% 1.10 0.4324
0.83 2.83% 0.85 0.5953
0.78 5.59% 0.83 0.3007
0.86 11.29% 0.96 0.6124
1.09 2.64% 1.12 0.6293
0.94 5.33% 0.99 0.5614
1.11 7.04% 1.19 0.5972
0.55 5.92% 0.58 0.6530
0.80 6.86% 0.86 0.4893
0.66 1.78% 0.68 0.4531
1.11 2.38% 1.13 0.6350
0.80 3.51% 0.83 0.3969
0.65 1.82% 0.66 0.2829
0.72 4.25% 0.76 0.4577
0.25 0.65% 0.25 0.1515
0.47 0.43% 0.47 0.4530
0.62 4.92% 0.65 0.4822
0.81 4.08% 0.85 0.5249
 Standard deviation in
operating income (last
Standard deviation of equity 10 years)
72.80% 17.05%

40.75% 14.67%
38.61% 99.37%
47.15% 24.77%
29.21% 366.54%
50.64% 54.10%
25.85% #DIV/0!
22.84% #DIV/0!
44.18% 27.49%
52.80% 16.55%
41.01% 18.50%
44.96% 40.20%
33.77% 48.36%
44.71% 20.37%
30.78% 40.08%
59.91% 54.64%
45.48% 26.46%
45.44% 27.95%
73.31% 84.87%
45.57% 16.36%
60.29% 57.15%
38.87% 28.00%
23.28% 21.92%
75.23% 68.61%
67.61% 12.05%
51.51% 43.36%
54.63% 17.78%
66.94% 57.44%
48.91% 30.66%
44.23% 20.48%
44.71% 18.90%
57.94% 14.25%
41.14% 26.67%
29.20% 45.33%
30.98% 22.15%
52.66% 15.60%
42.94% 28.13%
47.60% 97.34%
56.59% 11.19%
50.06% 22.08%
52.46% 37.38%
33.76% 137.06%
44.67% 32.38%
39.32% 26.38%
50.91% 6.48%
36.65% 34.87%
30.38% 76.49%
27.80% 34.97%
25.41% 59.96%
34.30% 32.59%
38.59% 22.89%
77.36% 32.69%
33.85% 14.76%
46.30% 44.08%
75.08% 70.00%
45.13% 45.25%
60.50% 33.60%
29.58% 20.50%
38.67% 38.75%
24.11% 7.62%
78.31% 72.93%
48.08% 13.57%
24.67% 27.75%
39.45% 336.02%
24.99% 170.32%
50.15% 41.20%
46.01% 28.71%
21.23% 79.92%
39.10% 21.59%
28.30% 36.36%
39.62% 23.30%
40.48% 38.55%
40.00% 6.58%
35.13% 17.61%
48.86% 51.38%
42.19% 21.86%
63.88% 46.21%
42.08% 33.61%
38.24% 50.41%
73.54% 24.62%
37.21% 26.27%
48.14% 119.34%
55.85% 46.53%
47.40% 17.04%
54.19% 65.41%
37.67% 42.23%
49.24% 17.73%
47.21% 37.74%
61.73% 16.67%
32.72% 24.08%
27.05% 28.20%
42.01% 33.32%
19.32% 6.86%
45.04% 25.14%
45.04% 17.28%
48.81% 16.91%
http://webs.ucm.es/
http://webs.ucm.es/info/jmas/mon/19.pdf
http://www.bcrp.gob.pe/docs/Publicaciones/Revista-Moneda/moneda-151/moneda-151-04.pdf
eda-151/moneda-151-04.pdf
PUNTO DE EQUILIBRIO = CFT/ (Pu - CVU)
CFT COSTOS FIJOS TOTALES (MES)
PU PRECIO UNITARIO DE VENTA (PROMEDIO)
CVU COSTO VARIABLE UNITARIO (PROMEDIO)

PUNTO DE EQUILIBRIO = 76

76 USUARIOS es lo mínimo que debe vender para

poder cubrir los costos totales, es preciso señalar
que la demanda para este proyecto son 95 NIÑOS

APALANCAMIENTO FINANCIERO
COSTO DE LA DEUDA 11.80%
TASA DE RENDIMIENTO DEL PROYECTO 173.37%

Existe un apalancamiento financiero positivo ya

que la tasa de rendimiento del proyecto es mayor
al costo de la deuda (fondos que financian el
proyecto)
UNIDADES