EVA
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What is Economic Value Added?
Quite simply, Economic Value Added is a measure of the economic profit produced by a company as a result of operations. A key difference between economic profit and accounting profit is a charge for the use of equity capital. EVA analysis looks at all capital, both debt and equity. The Capital Charge is simply the Cost of Capital multiplied by Capital Invested. In this way, EVA accounts for the use of all capital in assessing performance. The calculation of EVA is:
EVA = Net Operating Profit After Tax (NOPAT) - (Cost of Capital x Capital)
If NOPAT equals $150 and Capital equals $1000 and the Cost of Capital is 10%, the following equation defined the calculation of EVA.
EVA = $150 -(10% x $1000) = $50
EVA can be thought of as ”what’s left” (the residual) after the suppliers have been paid, the employees have received their salaries, the administrative expenses are covered and the capital providers get what was agreed (in the case of lenders) or what they expect (in the case of stockholders). This concept in finance is called residual income.
Investors may or may not get what they expect. That’s what makes EVA particularly useful to investors. At a glance you can see a company’s performance. A positive EVA means that the company has produced returns in excess of investors' expectations and a negative EVA means that it did not. Is the EVA positive or negative? Is the EVA increasing or declining? See this important information at a glance.
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ilus lihtne ja selge jutt!
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Jah, sellepärast ma selle siia paningi, et lihtne ja selge. Lihtne on mitte ainult ilus, vaid ka efektiivne. Ja investori jaoks on ju hinna ja väärtuse suhte kindlakstegemine sama tähtis nagu filosoofide jaoks vaimu ja mateeria primaarsuse määramine.
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Hea mudel, kuid puudulik, kuna kasumiga annab manipuleerida.
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Arkok: Tõde on selles, et kõigega annab mängida. Aga kuidas sa ise väärtust määrad?
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Mulle meeldib rohkem vaadata ettevõtte rahavoogude aruannet. See annab parema ülevaate omanikutuludest, mis erinevad tihti kasumist oluliselt.
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Väärtuse määramiseks pole niivõrd tähtis mis mudelit kasutad, vaid et ärist aru saad.
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coral, ja milles siis sina kasu väljendad, eriti väikeaktsionärina?
moraalne heaolu, enesekindlus, kuuluvustunne jm subjektiivsed kvalitatiivsed näitajad? ;) -
seikatsu, "mmoraalne heaolu, enesekindlus, kuuluvustunne" - no mida sa sakid?
"kvalitatiivsed näitajad" - noh bränd, juhid jne. näiteks- loomulikult!
coral
(üpris veinine;) -
väga veinine vist... kui kaks kommenti kokku panna, saame teada, et coralile pole tähtis, mis mudelit kasutab, vaid see, et ärist kasu (brändi, juhte jne) saaks?
kes see siis ööl vastu esmaspäeva niiviisii... :P
