EVA, FCF y EVA

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Ejercicio EVACrecimiento9%WACC8%1234567Ventas500.00545.00594.05647.51705.79769.31838.55Capital1,000.00##############################ROIC20%18.00%16.00%14.00%12.00%10.00%8.00%WACC8%8%8%8%8%8%8%Inversion neta###################################NOPAT###################################FCF###################################EVA###################################Factor de descuento###################################VP FCF###################################VP EVA###################################Suma FCF#####Suma EVA#####Capital inicial#####Capital incial + VP EVA#####Crecimiento9%WACC8%123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202203204205206207208209210211212213214215216217218219220221222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254255Capital1,000.001,090.001,188.101,295.031,411.581,538.621,677.101677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.11677.1ROIC20%18.00%16.00%14.00%12.00%10.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%8.00%WACC8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%Inversion neta90.0098.10106.93116.55127.04138.480.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0NOPAT200.00196.20190.10181.30169.39153.86134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17FCF110.0098.1083.1764.7542.3515.39134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17134.17EVA120.00109.0095.0577.7056.4630.770.000.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0Factor de descuento0.930.860.790.740.680.630.580.540.500.460.430.400.370.340.320.290.270.250.230.210.200.180.170.160.150.140.130.120.110.100.090.090.080.070.070.060.060.050.050.050.040.040.040.030.030.030.030.020.020.020.020.020.020.020.010.010.010.010.010.010.010.010.010.010.010.010.010.010.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00VP FCF101.8584.1066.0247.5928.829.7078.2972.4967.1262.1557.5453.2849.3345.6842.3039.1636.2633.5831.0928.7926.6524.6822.8521.1619.5918.1416.8015.5514.4013.3312.3511.4310.589.809.078.407.787.206.676.185.725.294.904.544.203.893.603.343.092.862.652.452.272.101.951.801.671.551.431.331.231.141.050.970.900.830.770.720.660.610.570.530.490.450.420.390.360.330.310.280.260.240.230.210.190.180.170.150.140.130.120.110.100.100.090.080.080.070.070.060.060.050.050.040.040.040.040.030.030.030.030.020.020.020.020.020.020.020.010.010.010.010.010.010.010.010.010.010.010.010.010.010.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00VP EVA111.1193.4575.4557.1138.4319.390.000.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0Suma FCF1,394.95Suma EVA394.95Capital inicial1,000.00Capital incial + VP EVA1,394.95VP FCF=Valor presente FCFVP EVA=Valor presente EVA

Ejercicio EVA resueltoCrecimiento9%WACC8%1234567Capital1,000.001,090.001,188.101,295.031,411.581,538.621,677.10ROIC20%18.00%16.00%14.00%12.00%10.00%8.00%WACC8%8%8%8%8%8%8%Inversin90.0098.10106.93116.55127.04138.480.0NOPAT200.00196.20190.10181.30169.39153.86134.17FCF110.0098.1083.1764.7542.3515.39134.17EVA120.00109.0095.0577.7056.4630.770.0Factor0.930.860.790.740.680.637.88VP FCF101.8584.1066.0247.5928.829.701,056.86VP EVA111.1193.4575.4557.1138.4319.390.0Suma FCF1,394.95Suma EVA394.95Capital inicial1,394.95

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