鍩洪噾寰炴キ(y猫)璩囨牸鑰冭│銆婄鍕熻偂娆�(qu谩n)鎶曡硣鍩洪噾銆嬭▓(j矛)绠楅鑰冮婕旂反


鍩洪噾寰炴キ(y猫)绉戠洰涓夈€婄鍕熻偂娆�(qu谩n)鎶曡硣鍩洪噾鍩虹(ch菙)鐭ヨ瓨銆嬭€冭│涓湁5椤屽乏鍙崇殑瑷�(j矛)绠楅銆傛帉鎻″叕寮忥紝娲荤敤鍏紡鏄牳蹇�銆�
1.甯傜泩鐜�(P/E)=浼佹キ(y猫)鑲℃瑠(qu谩n)鍍瑰€�/鍑堝埄娼�=姣忚偂鍍规牸/姣忚偂鍑堝埄娼�
渚嬮锛氭煇浼佹キ(y猫)2015骞村噲璩囩敘(ch菐n)鐐�1000钀厓锛岄姺鍞敹鍏ョ偤800钀厓锛岄姺鍞垚鏈偤400钀厓锛岄爯(y霉)瑷�(j矛)鏈締涓€骞村埄娼ょ偤500钀�锛屼及瑷�(j矛)甯傜泩鐜囩偤3銆佸競鍑堢巼鐐�3銆佸競閵风巼鐐�5锛岀敤甯傜泩鐜囨硶瑷�(j矛)绠楄┎鍏徃鍍瑰€�()钀厓銆�
A锛�1500
B锛�3000
C锛�2400
D锛�1200
绛旀锛欰
瑙f瀽锛氬競鐩堢巼娉曚笅锛屼紒妤�(y猫)鑲℃瑠(qu谩n)鍍瑰€�=浼佹キ(y猫)鍑堝埄娼�*甯傜泩鐜�=500钀�*3=1500钀厓銆�
2. 甯傚噲鐜�(P/B)=浼佹キ(y猫)鑲℃瑠(qu谩n)鍍瑰€�/鑲℃澅娆�(qu谩n)鐩婅超闈㈠児鍊�=姣忚偂鍍规牸/姣忚偂璩潰鍍瑰€�
渚嬮锛氬璩囧墠鐢插叕鍙告敞鍐婅硣鏈�100钀厓锛岀敳鍏徃鍓嶄竴骞村害缍�(j墨ng)瀵╄▓(j矛)鐨勭嚐妤�(y猫)鏀跺叆12鍎勫厓锛屽噲鍒╂饯4000钀厓锛屽勾鏈噲璩囩敘(ch菐n)1.5鍎勫厓銆備緷鎿�(j霉)鍓嶈堪璨�(c谩i)鍕�(w霉)鎯呮硜锛屾煇鑲℃瑠(qu谩n)鎶曡硣鍩洪噾鎿嚭璩�1鍎勫厓锛屽璩囩敳鍏徃锛岀嵅寰�20%鑲℃瑠(qu谩n)銆傝┎鑲℃瑠(qu谩n)鍩洪噾鎶曡硣鐢插叕鍙哥殑鎶曞悗甯傚噲鐜囩偤()銆�
A锛�10
B锛�2
C锛�1.67
D锛�3.33
绛旀锛欴
瑙f瀽锛氭姇璩�1鍎勫悗鐛插緱20%鐨勮偂娆�(qu谩n)锛屽墖鎶曡硣鍚庤偂娆�(qu谩n)鍍瑰€肩偤锛�1鍎�/20%=5鍎勩€傚競鍑堢巼=浼佹キ(y猫)鑲℃瑠(qu谩n)鍍瑰€�/鑲℃澅娆�(qu谩n)鐩婅超闈㈠児鍊�=5/1.5=3.33銆�
3. 甯傞姺鐜�(P/S)=浼佹キ(y猫)鑲℃瑠(qu谩n)鍍瑰€�/骞撮姺鍞敹鍏�
渚嬮锛氭煇浼佹キ(y猫)2015骞村噲璩囩敘(ch菐n)鐐�1000钀厓锛岄姺鍞敹鍏ョ偤800钀厓锛岄姺鍞垚鏈偤400钀厓锛岄爯(y霉)瑷�(j矛)鏈締涓€骞村埄娼ょ偤500钀�锛屼及瑷�(j矛)甯傜泩鐜囩偤3銆佸競鍑堢巼鐐�3銆佸競閵风巼鐐�5锛岀敤甯傞姺鐜囪▓(j矛)绠楄┎鍏徃鍍瑰€�()钀厓銆�
A锛�1500
B锛�4000
C锛�2400
D锛�1200
绛旀锛欱
瑙f瀽锛氫紒妤�(y猫)鑲℃瑠(qu谩n)鍍瑰€�=浼佹キ(y猫)骞撮姺鍞敹鍏�*甯傞姺鐜�=800钀�*5=4000钀厓銆�
4. 寰呰⿻浼拌硣鐢�(ch菐n)鍍瑰€�=閲嶇疆鍏ㄥ児-缍滃悎璨跺€�=閲嶇疆鍏ㄥ児×缍滃悎鎴愭柊鐜�
渚嬮锛氭煇鍏徃鍦ㄧ従(xi脿n)鏅傛浠朵笅閲嶆柊璩煎叆涓€闋�(xi脿ng)鍏ㄦ柊鐙€鎱�(t脿i)鐨勮硣鐢�(ch菐n)锛屽叾閲嶇疆鍏ㄥ児鐐�40000鍏冿紝缍滃悎璨跺€肩偤5000鍏�锛屽鏋滀娇鐢ㄦ垚鏈硶閫�(j矛n)琛屼及鍊硷紝鍏剁稖鍚堟垚鏂扮巼鐐�()銆�
A锛�13.5%
B锛�12.5%
C锛�85.5%
D锛�87.5%
绛旀锛欴
瑙f瀽锛氬緟瑭曚及璩囩敘(ch菐n)鍍瑰€�=閲嶇疆鍏ㄥ児-缍滃悎璨跺€�=閲嶇疆鍏ㄥ児*缍滃悎鎴愭柊鐜囷紝鍓囷細40000-5000=40000*缍滃悎鎴愭柊鐜�锛岀稖鍚堟垚鏂扮巼=87.5%銆�
5.缍�(j墨ng)婵�(j矛)澧炲姞鍊�(EVA)=绋呭悗鍑堢嚐妤�(y猫)鍒╂饯-璩囨湰鎴愭湰=(R-C)×A=R×A-C×A
鍏朵腑锛歊鏄硣鏈敹鐩婄巼=(绋呭墠鍒╂饯-鐝�(xi脿n)閲戞墍寰楃▍)/鎶曞叆璩囨湰;C鏄姞娆�(qu谩n)璩囨湰鎴愭湰=鍌靛嫏(w霉)鎴愭湰+鎵€鏈夎€呮瑠(qu谩n)鐩婃垚鏈�;A鐐烘姇鍏ヨ硣鏈�=璩囩敘(ch菐n)-璨�(f霉)鍌�锛屽叾涓硣鐢�(ch菐n)涓櫎鍘荤従(xi脿n)閲戯紝璨�(f霉)鍌典腑闄ゅ幓闀锋湡璨�(f霉)鍌靛拰鐭湡璨�(f霉)鍌典互鍙婇仦寤剁▍娆�;R×A鐐虹▍鍚庡噲鐕熸キ(y猫)鍒╂饯銆�
渚嬮锛欰鍏徃鏌愬勾搴︾嚐妤�(y猫)鏀跺叆鐐�6000钀厓锛岀▍鍓嶇嚐妤�(y猫)鍒╂饯鐐�500钀厓锛屾墍寰楃▍鐐�80钀厓锛屽偟鍕�(w霉)璩囨湰鎴愭湰30钀厓锛屾墍鏈夎€呮瑠(qu谩n)鐩婄偤1000钀厓锛屾姇璩囪€呮湡鏈涚殑鏀剁泭鍥炲牨(b脿o)鐜囩偤10%锛屽墖瑭插叕鍙哥殑缍�(j墨ng)婵�(j矛)澧炲姞鍊兼槸()钀厓銆�
A锛�5790
B锛�290
C锛�5890
D锛�390
绛旀锛欴
瑙f瀽锛氱稉(j墨ng)婵�(j矛)澧炲姞鍊�(EVA)=绋呭悗鍑堢嚐妤�(y猫)鍒╂饯-璩囨湰鎴愭湰=(绋呭墠鍒╂饯-鎵€寰楃▍)-璩囨湰鎴愭湰锛屽墖缍�(j墨ng)婵�(j矛)澧炲姞鍊�=500-80-30=390钀厓銆�
6.宸插垎閰嶆敹鐩婂€嶆暩(sh霉)=
鍏朵腑D0锛孌1锛孌2锛�?锛孌n锛岀偤鎶曡硣浜烘骞村緸鍩洪噾鐛插緱鐨勫垎閰嶉锛� PI0锛孭I1锛孭I2锛�?锛孭In锛岀偤鎶曡硣浜烘骞村悜鍩洪噾鏀粯鐨勫(sh铆)绻冲嚭璩囬銆�
渚嬮锛氭煇鎶曡硣鑰呮姇璩嘇鍩洪噾5钀厓锛岀従(xi脿n)鐛插緱鐝�(xi脿n)閲戝垎绱�15000鍏冿紝鍓囧凡鍒嗛厤鏀剁泭鍊嶆暩(sh霉)鐐�()銆�
A锛�0.2
B锛�0.25
C锛�0.5
D锛�0.3
绛旀锛欴
瑙f瀽锛欴PI=鎶曡硣鑰呮墍鐛插緱鐝�(xi脿n)閲戝垎绱�/宸叉姇璩囪硣鏈�=15000/50000=0.3銆�
7. 绺芥敹鐩婂€嶆暩(sh霉)(TVPI)=
鍏朵腑D0锛孌1锛孌2锛�?锛孌n锛岀偤鎶曡硣浜烘骞村緸鍩洪噾鐛插緱鐨勫垎閰嶉锛� PI0锛孭I1锛孭I2锛�?锛孭In锛岀偤鎶曡硣浜烘骞村悜鍩洪噾鏀粯鐨勫(sh铆)绻冲嚭璩囬锛孨AV鐐鸿硣鐢�(ch菐n)鍑堝€笺€�
渚嬮锛氭姇璩囦汉鐢叉姇璩嘇鍩洪噾宸叉湁4骞�锛�4骞撮噷姣忓勾寰炲熀閲戠嵅寰楃殑鍒嗛厤閲戦绺介鍒嗗垾鐐�200钀厓銆�300钀厓銆�300钀厓銆�400钀厓锛�4骞撮噷鐢插凡鍚戝熀閲戠钩娆鹃噾椤嶇附鍜岀偤1000钀厓锛岄爯(y霉)瑷�(j矛)閭勫皣绻崇磵2娆℃闋�(xi脿ng)锛屽垎鍒ユ槸500钀厓鍜�600钀厓锛岄爯(y霉)瑷�(j矛)灏囦簬绗�5骞翠腑鏃強绗�9骞翠腑鏃钩绱�锛屾埅鑷崇4骞存湯锛屽熀閲慛AV绛変簬100钀厓锛岃珛鍟忔埅鑷宠┎鏅傞粸(di菐n)鎶曡硣浜虹敳鐨勭附鏀剁泭鍊嶆暩(sh霉)鐐�()銆�
A锛�1.09
B锛�1.2
C锛�1.18
D锛�1.3
绛旀锛欴
瑙f瀽锛氱附鏀剁泭鍊嶆暩(sh霉)=鍩洪噾鎸佹湁鏈熼枔鍏�(n猫i)鐛插緱鐨勫垎閰嶉噾椤嶄箣鍜�/鍩洪噾鎸佹湁鏈熼枔鍏�(n猫i)鍚戝熀閲戞敮浠樼殑瀵�(sh铆)绻抽噾椤嶄箣鍜�銆傚墖锛氱附鏀剁泭鍊嶆暩(sh霉)=(200+300+300+400+100)/1000=1.3銆�
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