Valore Attuale Netto (NPV)

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Che cosa è il Valore Attuale Netto? Definizione

Il Valore Attuale Netto (VAN o NPV) di un investimento (progetto) è la differenza fra la somma dei flussi di cassa scontati che si attendono dall'investimento e l'importo inizialmente investito. È un metodo tradizionale di valutazione (spesso per un progetto) usato nella metodologia di misurazione dei Flussi di Cassa Scontati, per cui si intraprendono le seguenti fasi:

Fasi nel calcolo del Valore Attuale Netto

1. Calcolo dei free cash flows attesi (spesso per anno) che risultano dall'investimento
2. Sottrarre/scontare per il costo del capitale (un tasso di interesse che tiene conto del tempo e del rischio)

Il risultato intermedio è denominato: Valore Attuale.

3. Sottrarre gli investimenti iniziali

Il risultato finale è denominato: Valore Attuale Netto.

Di conseguenza il NPV è un importo che esprime quanto valore genererà un investimento. Ciò avviene misurando tutti i flussi di cassa generati nel tempo riportati al punto attuale nel presente.

Se dal metodo NPV esce fuori un importo positivo, il progetto dovrebbe essere intrapreso.

Limitazioni del Valore Attuale Netto

• Anche se la misurazione del NPV è ampiamente usata per prendere le decisioni di investimento, uno svantaggio del NPV è che nontiene conto della flessibilità/incertezza dopo la decisione di progetto. Vedi Opzioni Reali per le maggiori informazioni.
• Inoltre il NPV non può trattare i benefici immateriali. Questa incapacità fa diminuire la sua utilità per le questioni ed i progetti strategici. Vedi IC Rating per maggiori informazioni.

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

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

Referenza Bibliografica: James R. Hitchner - Financial Valuation: Applications and Models

Forum Forum sul Valore Attuale Netto. Inizia un nuovo argomento Condividi le tue conoscenze o fai una domanda   NPV of $1 Million for a Project Means What If a NPV of one project is $1 million, what does it mean to an investor?... 11   2 commenti WHEN to Invest? Investing at the Right Moment... I have done a NPV calculation for an investment option. The problem I'm thinking about is not IF I should invest, it is WHEN to invest. Its weird to make a calculation on a 10 years basis for opt... 5   Calculating NPV with Missing Data How will I calculate the NPV if I only have the different annual income for 6 years business proposal?... 4   4 commenti Example of Net Present Calculation Consider the following two investments: Investment 1 requires a cash investment of $ 10,000 today and $14,000 two years from now. One year from now this investment will yield $24,000. Invest... 2   2 commenti NPV of Partial Payments Suppose a business sells an average of $ 1000 per month to a group of 200 customers on Net 30 terms. What would be the financial benefit to the seller if those customers each paid 1/30th of the invoi... 2   Missed Interest in NPV (How) Can I include interest income forgone in an NPV calculation?... 1   1 commenti How do you Calculate NPV when Initial Investments are Unknown? In calculating NPV when initial investment is not mentioned what should i do? Only cost and benefit from year 1 is given. What would be the power of (1+discount rate) 1 or 0?... 1   4 commenti NPV assumes Certainty of Cash Flows When using the Net Present Value method be careful: this calculation assumes certainly in the forecasted future cash flows. For strategic longer term projects this assumptions is often not valid in to... 1   NPV with a Missing Cash Flow Figure Is is possible to calculate NPV with a missing cash flow figure? E.g. the expected cash flows for a 5 year project at 2% with initial investment of £5000 pounds are £1000, £2500, £2300, £1700 and unkn... 0   NPV with Only Costs & IRR Hi, I have been posed with the problem of trying to calculate an NPV, with only costs provided and an IRR. Additionally, costs are not incurred upfront, but by borrowing over each period at a given ra... 0   1 commenti NPV for Leased Equipment versus Purchased Equipment Do any of you use NPV for a lease situation? I lease equipment and am often asked about purchase versus lease I do not have the customers cash inflows, but when I'd do this comparison of NPVs, th... 0   Calculating Cost per Unit if Zero NPV without any Operating Costs Information How does one calculate the cost per unit from the following info? Initial investment of R120M, R8M maintenance costs per year, R5M additional costs for each 1M units produced and 1.2M units produ... 0   NPV Cost Avoidance and Savings I evaluating a capital expenditure project where 'stand alone' (location 1) the savings from the investment are low. Due to this, the NPV is low. And thus the project is not feasible. However thi... 0   Calculating NPV for a Project John owns a nursery school. He estimates that, with an extension, he would be able to sell the business as a going concern for $600,000 in six years time. Without the extension, he would expect to sel... 0

Migliori Pratiche Gli argomenti migliori e più votati su Valore Attuale Netto. Qui troverai le idee più preziose e suggerimenti pratici. 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 commenti 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 commenti 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 commenti 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 commenti 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 commenti

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