Net Present Value (NPV)

Centro de Conhecimento

Que é Net Present Value? Definição

Net Present Value (NPV) de um investimento (projeto) é a diferença entre a soma dos fluxos de dinheiro discontados que se esperam do investimento, e a quantidade que invested inicialmente. É um método tradicional do valuation (frequentemente para um projeto) usado na metodologia da medida de Discounted Cash Flow, por meio de que as seguintes etapas são empreendidas:

Etapas no cálculo de Net Present Value

1. Cálculo de fluxos de dinheiro livres previstos (frequentemente por por o ano) esse resultado fora do investimento
2. Subtraia/disconto para cost of capital (uma taxa de interesse a ajustar para o tempo e o risco)

O resultado intermediário é chame: Valor atual.

3. Subtraia os investimentos iniciais

O resultado de fim é chame: Net Present Value.

Conseqüentemente o NPV é uma quantidade que expresse quanto valor um investimento resultará. Isto é feito medindo todos os fluxos de dinheiro sobre o tempo para trás para o ponto atual no tempo atual.

Se o método do NPV resultar em uma quantidade positiva, o projeto deve ser empreendido.

Limitações de Net Present Value

• Embora a medida do NPV seja usada extensamente fazendo decisões do investimento, uma desvantagem do NPV é que não esclarece a flexibilidade/incerteza após a decisão do projeto. Veja Real Options para mais informação.
• Também o NPV é incapaz de tratar dos benefícios intangíveis. Esta inabilidade diminui sua utilidade para edições e projetos estratégicos. Veja IC Rating para mais informação.

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

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

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

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