 # 순현재가치(NPV,Net Present Value)

지식 센터

## 요약, 포럼, 모범 사례, 전문가 팁 및 정보 소스.

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 요약

### NPV란 무엇인가? 정의

어느 한 투자(프로젝트)의 순현재가치(NPV)는 투자로부터 기대되는 할인된 현금흐름의 합과 최초에 투자된 금액과의 차이이다. (보통 하나의 프로젝트) 다음과 같은 단계로 계산되는 Discounted Cash Flow[현금흐름할인법] 측정 방법에서 사용된 전통적인 가치평가 방법이다:

### NPV 계산방법

1. (보통 1년기준) 투자의 결과인 예상된 기업잉여현금흐름(free cash flows)의 계산
2. 자본비용(시간과 리스크에 대해 조정된 이자율)을 차감하고 할인.

그 결과 현재가치(Present Value)이다.

1. 초기 투자액을 차감한다.

그 결과 최종적으로 순현재가치 (Net Present Value)가 계산된다.

그러므로 NPV는 하나의 투자가 얼마만큼의 가치를 가져올 것인지를 보여주는 금액이다. 이것은 현재 현시점으로 시간을 추정하여 모든 현금흐름을 측정하여 구한다.

만일 NPV가 양(+)의 결과를 보여주면 프로젝트는 착수되야한다.

### 순현재가치의 한계

• 비록 NPV 측정이 투자결정에 널리 사용되고 있지만, NPV는 프로젝트가 결정된 후의 유연성과 불확실성을 설명하지 않는다는 단점이 있다. 좀 더 자세한 내용은 Real Options [리얼옵션이론]를 보십시오.
• 또한 NPV는 무형적인 혜택을 다룰 수 없다. 그 때문에 전략적 이슈와 프로젝트에 대한 유용성이 감소한다. 좀 더 자세한 내용은 IC Rating [지적자본 평가방법론]를 보십시오.

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

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

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

 시그(SIG)
 순현재가치 시그(SIG).
 포럼

다음에 대한 포럼 토론: 순현재가치. 아래에서 이 주제에 대해 질문하거나 경험을 공유하거나 새로운 개발을 보고하거나 무언가를 설명할 수 있습니다.     에 대한 순현재가치 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 개의 댓글 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 option ... 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 개의 댓글 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. Investment 2 r... 2 2 개의 댓글 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 개의 댓글 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 개의 댓글 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 개의 댓글 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, the le... 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 produced ... 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 this pr... 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
 모범 사례

순현재가치에 대한 최고 평점 토론 주제. 여기에서 가장 가치있는 아이디어와 실용적인 제안을 찾을 수 있습니다. 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 개의 댓글 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 개의 댓글 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 개의 댓글 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 개의 댓글 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 개의 댓글
 전문가 팁
 Net Present Value (NPV)에 대한 고급 통찰력 (영어). 여기에서 전문가의 전문적인 조언을 찾을 수 있습니다.
 정보 출처

순현재가치 에 대한 다양한 정보 출처. 여기에서 자신의 강의 및 워크샵에 사용할 파워 포인트, 비디오, 뉴스 등을 찾을 수 있습니다. Net Present Value vs IRRNPV vs IRRTwo of the most important criteria for choosing between capital investment projects are net present value (NPV) and inte... Present Value TablesCalculating PVSet of present value tables written in rich text format, compatible with MS-Word and most other word processors. Include... Capital BudgetingCalculate NPV, IRR, ROCBasic capital budgeting analysis for a project. Compute NPV, IRR and ROI. Spreadsheet by Aswath Damodaran.... Business Valuation | Company Valuation | Firm ValuationBusiness Analysis, Company Analysis | Firm AnalysisThis presentation elaborates on the valuation and analysis of companies and include the following sections: 1. Company ... Analyzing Financial FeasibilityFinancial Feasibility Analysis, Project Selection, ROI, NPV, IRRPresentation about Feasibility Studies in the Financial Area. The presentation includes the following sections: 1. Fina... How to Calculate NPV in MS ExcelBasic Understanding of how to use Excel for calculating NPVThe Net Present Value of an investment is the present value of the investment minus the amount of money it cost to buy i... Net Present Value DiagramInvestment ValuationDownload and edit this 12manage PowerPoint graphic for limited personal, educational and business use. Republishing in ...

 추가 연구 링크

순현재가치다음과 관련된 다른 유용한 소스로 자동으로 이동합니다 . 뉴스 영화 프리젠 테이션 서적 플라톤 학파 사람들 더

다른 페이지로 이동: 의사결정과 가치평가  |  재무와 투자

 시그(SIG) 순현재가치 에 대해 많이 알고 계십니까? 우리의 SIG 리더가 되십시오 전문가로서 세계적으로 인정받다.

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