Kapitalwert (NPV)

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Was ist Kapitalwert? Definition

Der Kapitalwert (NPV) einer Investition (Projekt) ist der Unterschied zwischen der Summe der diskontierten Cash Flows, die von der Investition erwartet werden und dem Betrag, der anfänglich investiert wird. Es ist eine traditionelle Bewertungsmethode (häufig für ein Projekt), die in der DCF-Verfahren Bewertungsmethodik verwendet wird, bei der die folgenden Schritte durchgeführt werden:

Schritte in der Berechnung des Kapitalwert

1. Berechnung der erwarteten Free Cashs Flows (häufig pro Jahr), die aus der Investition resultieren
2. Subtrahieren/abziehen der Kapitalkosten (ein Zinssatz, um für Zeit und Gefahr anzupassen)

Das Zwischenresultat wird genannt: Present Value (Barwert).

3. Subtrahieren Sie die Ausgangsinvestitionen

Das Endresultat wird genannt: Kapitalwert.

Folglich ist NPV ein Betrag, der ausdrückt, in wieviel Wert eine Investition resultiert. Dieses wird getan, indem man alle Cash Flows über die Zeit in Richtung zum gegenwärtigen Zeitpunkt in der Gegenwart mißt.

Wenn die NPV Methode in einem positiven Betrag resultiert, sollte das Projekt durchgeführt werden.

Einschränkungen des Kapitalwert

• Obgleich NPV Bewertung für das Treffen von Investitionsentscheidungen am häufigsten benutzt wird, ist ein Nachteil von NPV, dass es Flexibilität/Ungewissheit nach der Projektentscheidung nicht berücksichtigt. Siehe Realoptionen für mehr Informationen.
• NPV ist auch nicht imstande, immateriellen Nutzen zu berücksichtigen. Dieses verringert seinen Nutzen für strategische Themen und Projekte. Siehe IC Rating für mehr Informationen.

Buch: S. David Young, Stephen F.O'Byrne - EVA and Value-Based Management: A Practical Guide.

Buch: Aswath Damodaran - Investment Valuation: Tools and Techniques for Determining the.

Buch: James R. Hitchner - Financial Valuation: Applications and Models

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Best Practices Die am besten bewerteten Themen über Kapitalwert (NPV). Hier finden Sie die wertvollsten Ideen und praktischen Vorschläge. Re-evaluating an investment decision Question: I am re-evaluating an investment decision from 2004 - - where the initial investment was made. If I wanted to look at the investment today would I need to take the future value of the past C... 43   6 Kommentare Operating Cash Flows What is the NPV of a project that has cost of 52,125 and net cash flows of 12,000 per year for 8 years with a cost of capital of 12 percent?... 33   5 Kommentare Does the Net Present Value (NPV) calculation uses cash inflows or profits? Does the NPV calculation uses cash inflows or profits? Should I use the revenue generated by the project or the profit?... 20   1 Kommentare Choosing between Investments Using a Comparison of NPVs If I have 2 investments and I compare the NPV of both. Which one I prefer? With the biggest NPV?... 19   2 Kommentare More Complex NPV Comparison: Interrelated Projects How would I compare 3 projects - two have an NPV = $500,000 (over 9 years mixed stream of inflows and 20 years annuity, respectively) and one which is a lump of $490,000 cash right now? ... 16   1 Kommentare

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Vergleichen Sie mit Kapitalwert: Interne Rendite  |  Amortisationsdauer  |  Cost-Benefit Analysis (Kosten-Nutzen-Analyse)  |  Gesamtbetriebskosten |  CAGR  |  Eigenkapitalkosten

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