Ejercicios Wacc
Ejercicios Wacc
Ejercicios Wacc
Determine la rentabilidad que debe exigir una acción si la rentabilidad libre de riesgo es 6%
la rentabilidad que el inversionista espera del mercado es del 15%. El entormo politico hace q
la beta sea del 0,30
Página 3
388818302.xlsx
50%
120,000
31,250
88,750
44,375
44,375
44,375
75,625
12.50%
16.00%
250,000
277,344
527,344
250,000
250,000
500,000
12.00%
17.75%
2,630
105.4688
16.875
6.25
50%
47.41%
60,000
527,344
0.00%
105.4688
Página 4
Probabilidad Nivel de Ventas
miles US$ Nro de acciones
10.00% 70,000 Costos Fijos
25.00% 75,000 C Variables
35.00% 80,000 Impuestos
20.00% 85,000 Activos Totales
10.00% 90,000 Tasa de deuda
- 0.00% - 6.00%
10,000 14.71% 0.17 6.00%
20,000 29.41% 0.42 6.50%
30,000 44.12% 0.79 7.00%
40,000 58.82% 1.43 8.00%
EPS
50.00
48.00
46.00
44.00
42.00
40.00
38.00
50.00
48.00
46.00
44.00
42.00
40.00
38.00
- 10,000 20,000
Beta apalancado
12.00
10.00
8.00
6.00
4.00
2.00
-
- 10,000 20,000
1200.00%
1000.00%
800.00%
600.00%
400.00%
200.00%
0.00%
- 10,000 20,000
600.00%
400.00%
200.00%
0.00%
- 10,000 20,000
WACC
1200.0000%
1000.0000%
800.0000%
600.0000%
400.0000%
200.0000%
0.0000%
- 10,000 20,000
12.00
10.00
8.00
6.00
4.00
2.00
-
- 10,000 20,000
4.00
2.00
-
- 10,000 20,000
100
18,000 grado de
70.00% endeudamiento Monto de deuda
30.00% 50.00% 34,000
68,000 50
7.00%
41.48 0.28
43.70 0.31
45.86 0.36
47.91 0.44
46.33 0.61
7.00% 8.00%
7.00% 8.00%
EPS
EPS
EPS
Beta apalancado
Beta apalancado
WACC
WACC
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
(000 $)
Tasas
COK
WACC
INDICACIONES: SOLO LLENAR ESPAC
unidades
precio
+ Ingresos
- C variables
- c fijos
= EBITDA
- Depreciacion
= EBIT
- Impuestos
= EBT
+ Depreciacion
- Inv k de w
- CAPEX
+ Valor de rescate
+ Recuperacion k w
= FCF (10,000)
CCPP 11.38%
VAN (10,000)
TIR Err:523
+ CxC
+ Inventario
- CxP
Total Capital Trabajo
Inversión en Capital de T
OLO LLENAR ESPACIOS EN AMARILLO
Año 1 Año 2 Año 3 Año 4 Año 5 Año 6 Año 7
- - - - - - -
2,000
10,255
These costs of capital are in US$. To convert to a different currency, please enter
Expected inflation rate in local currency = 6.00%
Expected inflation rate in US $ = 1.90%
New_Home_Page/data.html
pc/datasets/indname.xls
New_Home_Page/datafile/variable.htm
2.41%
5.08%
0.00%
Std Dev in Stock Cost of Debt Tax Rate After-tax Cost of Debt D/(D+E)
80.95% 6.91% 6.38% 5.25% 42.49%
49.06% 3.91% 11.59% 2.97% 15.58%
40.20% 3.91% 24.57% 2.97% 41.52%
59.71% 3.91% 10.35% 2.97% 25.48%
38.59% 3.61% 8.15% 2.74% 59.69%
56.74% 3.91% 7.71% 2.97% 22.06%
33.37% 3.61% 27.31% 2.74% 61.13%
32.08% 3.61% 25.57% 2.74% 36.98%
50.14% 3.91% 10.12% 2.97% 20.73%
45.33% 3.91% 6.41% 2.97% 18.74%
52.30% 3.91% 17.18% 2.97% 52.87%
42.48% 3.91% 14.56% 2.97% 68.74%
41.01% 3.91% 23.34% 2.97% 17.67%
49.45% 3.91% 11.09% 2.97% 21.53%
36.33% 3.61% 22.23% 2.74% 34.66%
59.39% 3.91% 9.76% 2.97% 29.22%
68.62% 4.66% 11.66% 3.54% 21.37%
59.69% 3.91% 9.64% 2.97% 22.48%
90.61% 8.16% 4.94% 6.20% 31.23%
48.53% 3.91% 9.40% 2.97% 23.57%
61.38% 3.91% 5.03% 2.97% 15.38%
45.67% 3.91% 17.36% 2.97% 24.51%
26.82% 3.61% 12.09% 2.74% 24.52%
94.78% 8.16% 1.36% 6.20% 13.67%
85.70% 6.91% 2.11% 5.25% 12.76%
53.59% 3.91% 8.24% 2.97% 27.97%
66.17% 4.66% 5.06% 3.54% 13.68%
70.22% 4.66% 5.98% 3.54% 6.49%
60.25% 3.91% 8.34% 2.97% 13.02%
53.02% 3.91% 13.37% 2.97% 22.91%
54.94% 3.91% 5.45% 2.97% 25.23%
65.74% 4.66% 4.45% 3.54% 25.85%
42.57% 3.91% 7.69% 2.97% 35.71%
36.63% 3.61% 19.89% 2.74% 91.17%
41.18% 3.91% 15.13% 2.97% 23.56%
55.42% 3.91% 11.91% 2.97% 27.25%
51.26% 3.91% 12.56% 2.97% 21.79%
60.29% 3.91% 2.41% 2.97% 49.55%
66.92% 4.66% 4.79% 3.54% 14.59%
57.44% 3.91% 13.69% 2.97% 19.89%
58.64% 3.91% 5.96% 2.97% 16.17%
44.70% 3.91% 23.86% 2.97% 28.39%
60.63% 3.91% 10.57% 2.97% 63.84%
45.51% 3.91% 14.01% 2.97% 28.52%
56.30% 3.91% 7.35% 2.97% 17.37%
41.35% 3.91% 15.90% 2.97% 13.58%
37.21% 3.61% 14.71% 2.74% 27.80%
37.34% 3.61% 15.32% 2.74% 36.33%
34.65% 3.61% 18.50% 2.74% 20.90%
41.00% 3.91% 8.30% 2.97% 29.62%
43.17% 3.91% 14.05% 2.97% 16.49%
82.33% 6.91% 1.66% 5.25% 23.39%
49.66% 3.91% 18.37% 2.97% 34.06%
20.21% 3.11% 10.96% 2.36% 13.26%
78.88% 6.91% 2.18% 5.25% 29.53%
62.79% 3.91% 4.84% 2.97% 48.30%
73.29% 4.66% 5.27% 3.54% 23.65%
27.67% 3.61% 22.37% 2.74% 33.43%
56.81% 3.91% 14.18% 2.97% 28.58%
31.23% 3.61% 20.31% 2.74% 43.30%
91.35% 8.16% 2.16% 6.20% 15.15%
54.14% 3.91% 11.92% 2.97% 30.79%
32.14% 3.61% 1.96% 2.74% 43.98%
44.27% 3.91% 5.80% 2.97% 31.18%
41.07% 3.91% 12.77% 2.97% 19.10%
54.01% 3.91% 8.82% 2.97% 31.84%
50.85% 3.91% 10.16% 2.97% 22.83%
18.99% 3.11% 10.92% 2.36% 21.71%
48.41% 3.91% 14.99% 2.97% 24.36%
42.62% 3.91% 19.04% 2.97% 43.17%
53.44% 3.91% 15.36% 2.97% 15.15%
49.24% 3.91% 14.20% 2.97% 31.31%
49.94% 3.91% 22.96% 2.97% 23.75%
45.73% 3.91% 21.04% 2.97% 45.56%
60.64% 3.91% 7.57% 2.97% 10.24%
59.68% 3.91% 22.01% 2.97% 34.64%
56.24% 3.91% 7.91% 2.97% 43.82%
52.68% 3.91% 8.04% 2.97% 11.58%
61.04% 3.91% 8.51% 2.97% 10.34%
94.40% 8.16% 8.31% 6.20% 31.95%
44.39% 3.91% 16.75% 2.97% 8.80%
49.61% 3.91% 2.21% 2.97% 6.06%
65.60% 4.66% 2.50% 3.54% 3.21%
53.27% 3.91% 3.98% 2.97% 12.39%
70.40% 4.66% 7.05% 3.54% 26.59%
54.46% 3.91% 7.95% 2.97% 54.54%
57.87% 3.91% 8.12% 2.97% 17.17%
52.57% 3.91% 8.05% 2.97% 44.30%
45.16% 3.91% 5.25% 2.97% 14.63%
46.36% 3.91% 21.92% 2.97% 23.09%
29.77% 3.61% 23.82% 2.74% 18.48%
54.25% 3.91% 20.56% 2.97% 41.11%
20.67% 3.11% 30.89% 2.36% 40.21%
34.50% 3.61% 15.09% 2.74% 27.61%
53.52% 3.91% 10.04% 2.97% 37.11%
57.16% 3.91% 7.92% 2.97% 23.51%
Cost of Capital Cost of Capital (Local Currency)
6.99% 11.29%
7.14% 11.45%
5.64% 9.89%
6.40% 10.68%
5.06% 9.29%
6.64% 10.93%
3.87% 8.05%
4.14% 8.33%
7.87% 12.21%
5.42% 9.66%
5.39% 9.63%
4.76% 8.98%
7.15% 11.46%
7.19% 11.50%
5.58% 9.83%
6.88% 11.18%
10.78% 15.23%
6.93% 11.23%
7.96% 12.30%
6.82% 11.12%
6.84% 11.14%
6.85% 11.14%
7.07% 11.38%
9.24% 13.64%
8.13% 12.48%
6.79% 11.08%
7.32% 11.64%
7.67% 12.00%
6.63% 10.92%
7.51% 11.84%
6.93% 11.23%
6.01% 10.27%
5.04% 9.27%
2.99% 7.13%
5.17% 9.40%
9.16% 13.55%
5.67% 9.92%
5.77% 10.02%
6.66% 10.95%
6.17% 10.45%
6.67% 10.96%
6.60% 10.89%
4.93% 9.16%
5.98% 10.24%
6.69% 10.98%
6.36% 10.64%
5.38% 9.62%
5.79% 10.05%
5.85% 10.11%
6.11% 10.38%
7.38% 11.70%
7.37% 11.69%
7.20% 11.52%
8.45% 12.81%
7.76% 12.09%
5.85% 10.11%
7.44% 11.76%
5.02% 9.24%
6.92% 11.22%
4.01% 8.19%
7.14% 11.45%
6.17% 10.44%
4.43% 8.63%
5.21% 9.44%
5.58% 9.83%
6.13% 10.40%
5.87% 10.13%
4.47% 8.68%
5.81% 10.07%
5.57% 9.82%
6.19% 10.46%
6.59% 10.88%
6.61% 10.90%
4.62% 8.83%
7.86% 12.20%
6.29% 10.57%
5.38% 9.62%
7.74% 12.08%
6.94% 11.24%
8.26% 12.61%
6.54% 10.83%
6.70% 10.99%
8.36% 12.72%
7.32% 11.64%
9.49% 13.89%
5.72% 9.98%
6.86% 11.16%
5.72% 9.98%
7.97% 12.31%
6.25% 10.52%
6.64% 10.93%
6.23% 10.50%
3.28% 7.44%
3.76% 7.94%
5.81% 10.07%
6.69% 10.99%