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
 计算投资预期产生的Free Cash Flow[自由现金流]。
 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）。
 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
参考书： S. David Young， Stephen F.O'Byrne  EVA and ValueBased 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
净现值 小组。
小组 (11名成员)


关于以下内容的论坛讨论：净现值。您可以在下方提出有关此主题的问题、分享您的经验、报告新的发展或解释一些事情。

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 ...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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。
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Reevaluating an investment decision
Question: I am reevaluating 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...
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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?...
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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。


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 MSWord 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 ...




比较： Internal Rate of Return[内部收益率]  Payback Period[投资回收期]  CostBenefit 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]
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