. , -.
(8.7) ( ), ( ).
:
= ×, (8.8)
, ; , ( , ), ; ( -, ).
:
1. ֳ / (/)
/ = / , (8.9)
, .
2. ֳ / (/):
/ = / , (8.10)
.
, .
3. ֳ / (/CF):
/CF = / CF, (8.11)
CF Cash flow ( + ).
.
4. ֳ / (P/PTCF):
P/PTCF = / ( + + ), (8.12)
; ; .
5. ֳ / (P /EBIT):
P /EBIT = / ( + + - ), (8.13)
, , , .
6. ֳ / , (P /EBDIT):
P /EBDIT = / ( + + +), (8.14)
.
7. ֳ / (P/BV):
P/BV = / , (8.15)
8. ֳ / (/VD):
/VD = / , (8.16)
.
(8.9) (8.16) , , (8.8) .
( , , ) . 8.2 .
8.2
( )
ϳ 1 | ϳ 2 | ||||
, . . | , . . | - | , . . | , . . | |
1. ֳ / (/) | |||||
2. ֳ / (/) | |||||
3. ֳ / (/CF) | |||||
4. ֳ / (P/PTCF) | |||||
5. ֳ / (P /EBIT) | |||||
6. ֳ / , (P /EBDIT) | |||||
7. ֳ / (P/BV) | |||||
8. ֳ / (/VD) |
9
|
|
: Ⳕ
: , : , ( ).
: , , , , .
:
1. .
2. .
3. .
4. .
:
9 . 9 _______________ _______ \ Lab 9.xls.