Net Present Value[NPV,净现值]

知识中心



摘要,论坛,最佳做法,专家提示和信息来源。

78 项 • 943.574 次访问


总结

 Net Present Value[NPV,净现值] 什么是净现值? 释义

投资项目的净现值就是一项投资所产生的未来现金流的折现值与项目投资成本之间的差值。 它是一种传统的项目估值法,它的计算通过Discounted Cash Flow[贴现现金流]、并按照以下步骤进行。


NPV计算步骤

  1. 计算投资预期产生的Free Cash Flow[自由现金流]
  2. 减去折扣(去除资金的时间、风险影响)。

这个中间值称为: 现值(Present Value

  1. 减去初始投资成本。

这个终值即为: 净现值(NPV


因此,NPV所表示的就是一项投资所能创造的价值, 并且将未来现金流回溯到当前时间点上,取其折现值。


如果NPV值为正数,说明项目可行。


NPV的局限

  • 尽管在投资决策过程中NPV被广泛使用,它的一个主要缺点是它不考虑项目执行后的弹性和不确定性。 详尽信息,请参阅Real Options[实物期权]
  • 对于无形收益的测量,NPV无能为力。 这一不足严重削弱了NPV在战略项目决策时的效用。 详尽信息,请参阅IC Rating[智慧资本评级]

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

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

参考书: James R. Hitchner - Financial Valuation: Applications and Models


小组

净现值 小组。



小组 (10名成员)

论坛

净现值论坛。


开始一个新的论坛主题

 

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条评论
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条评论
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条评论
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条评论
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条评论
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条评论
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
 

最佳实践

关于净现值的最高评价的讨论主题。在这里你会找到最有价值的思路和切实可行的建议。


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条评论

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条评论

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条评论

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条评论

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条评论

专家提示

关于Net Present Value (NPV)(英语)的高级见解。在这里,您将找到专家的专业建议。


信息来源

有关净现值的各种信息来源。在这里,您将找到Powerpoint,视频,新闻等可用于您自己的讲座和讲习班。


Net Present Value vs IRR

NPV vs IRR
Two of the most important criteria for choosing between capital investment projects are net present value (NPV) and inte...

Present Value Tables

Calculating PV
Set of present value tables written in rich text format, compatible with MS-Word and most other word processors. Include...

Capital Budgeting

Calculate NPV, IRR, ROC
Basic capital budgeting analysis for a project. Compute NPV, IRR and ROI. Spreadsheet by Aswath Damodaran....

Business Valuation | Company Valuation | Firm Valuation

Business Analysis, Company Analysis | Firm Analysis
This presentation elaborates on the valuation and analysis of companies and include the following sections: 1. Company ...

Analyzing Financial Feasibility

Financial Feasibility Analysis, Project Selection, ROI, NPV, IRR
Presentation about Feasibility Studies in the Financial Area. The presentation includes the following sections: 1. Fina...

How to Calculate NPV in MS Excel

Basic Understanding of how to use Excel for calculating NPV
The 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 Diagram

Investment Valuation
Download and edit this 12manage PowerPoint graphic for limited personal, educational and business use. Republishing in ...

研究链接

自动跳入有关以下内容的其他有用资源净现值。


新闻

新闻

视频

视频

简报

简报

书比人好

书比人好

学术的

学术的

更多

更多


比较: Internal Rate of Return[内部收益率]  |  Payback Period[投资回收期]  |  Cost-Benefit Analysis[成本效益分析]  |  Total Cost of Ownership[总体拥有成本]  |  CAGR[年均复合增长率]  |  Cost of Equity[股本成本]


返回到分类主页: 决策与评估  |  金融与投资


更多管理方法、模型和理论

小组

您对感兴趣吗净现值?成为我们的 SIG 负责人

 


关于12manage | 广告服务 | 链接到我们/引用我们 | 隐私 | 建议 | 服务条款
© 2022 12manage - The Executive Fast Track V15.8 - 最后更新:8-12-2022 所有名称™属于其所有者