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, , . , . . , , . . , .
. , EVA (Economic Value Added). EVA , . , , , .
EVA , EVA. , EVA .
EVA .
, , . , , . , EVA, , , , . , , , . , , .
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, EVA , EVA , , , , EVA .
, . , . , . , EVA , . , .
EVA EPS ( ), ROA (ROI) ( ()) CF ( ) .
EPS (Earnings per share) , .
ROA (Return on assets) ROI (Return on investments), , .
FCF , , , .
EVA :
1) EVA = NOPAT (Cost of Capital)*(ital employed)
EVA = * .
2) EVA = (Rate f Return) (Cost / Capital) * (Capital employed)
EVA= * .
.
EVA :
= (Capital Invested in Assets in Place) + (P V of VA from Assets in Place) + (Sum of V of VA from new projects)
= +
+
EVA : , , . , . EVA ROI ( ) NPV, EVA , EVA , .
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, EVA. EVA, , , : , , , . EVA , . , . EVA, .
, EVA , , : , . EVA (ROC). EVA . EVA , .
, (VBM) , , , . VBM , . , , , .
VBM , . . , - , . , , , , , .
EVA : 1) ( ); 2) ( ). EVA, , , .