Ziva kambani ye ROIC kuti Uiongorore seSekurima
Kudzoka paInvest Capital (ROIC) inobatsira kana kuti inoshanda chiyero chinotarisa kuti vashandi vakawanda mune bhizinesi vanowana sei mari inotengeswa. Semuenzaniso wekutsvaga kwemari, kudzokera kune mari inoshandiswa mari inowanikwawo kukosha kwehuwandu hunokosha.Musika wekutengesa, somuenzaniso, wakadzoka anenge 9 muzana gore negore kwemakore anopfuura zana.
Inopa chibatsiro chinobatsira - kana uchigara uchiwana kudzoka kunorova kuwedzera kwezvinhu (iyo 9 muzana yezvikamu haina kutora inflation munyaya) nomumwe 5 kusvika ku7 muzana anodzoka, izvo hazvisi zvakaipa zvachose. Kana, kune rumwe rutivi, kudzoka kwako kunekutsvaga kwekutsvaga kusina kukonzera kutengesa kwezvinhu kana kuti kunowira pasi pekutengesa kwenyika, ROI haina zvigutsa.
Kudzoka paInvested Capital Calculation
Iwe unofanirwa kutarisa zvikwereti zvemari zvekambani kuti unzwisise kudzoka pamari inotengeswa. Tarisa muhope yemari . Iwe uchaona chinhu chendaneti yeMaripo Asati Ada Kufarira uye Mitero (EBIT). Kana iwe uwandisa EBIT ne (1-tax rate), unosvika paNet Operating Profit mushure meMitero kana NOPAT. NOPAT ndiyo nhamba inotarisa kuverenga kudzoka Kudzoka Kwekutsvaga Mari. Dzimwe nguva, EBIT inotsiviwa se nhamba.
NOPAT = EBIT (1 - mutero wero) = Numerator
Isu tine numerator muiyo equation kuti tiverenge Kudzoka paInvested Capital, saka iye zvino tinoda sangano.
Iyo denominator is Operating Capital. Tinotarisa chikamu chemazeri kwemashoko aya kubva maakaiti ayo maitiro ekugadzira aripo.
Operating Capital inoumbwa nenheji dzinobhadharwa, nguva refu dzisungo, sarudzo yakasarudzwa, uye inowanzoenzaniswa. Pano tinotora shanduro iri nyore iyo ine zvinyorwa zvingabhadharwa (iyo nguva yakareba yekubhadhara mari yebhangi) uye yakaenzana kuenzanisa zvikwereti.
Rimwe rinonyanya kushandiswa kwepurasitiki rinogona kuva nezvisungo uye inoshandiswa pamatombo. Mutengo unoshandiswa, dhinominator, unoverengerwa nekuwedzera chikamu chemari chikwereti chikwereti kumusangano wekuchengetwa kwemari:
Kushandisa Capital = Avhareji Chikwereti Chekwereti + Avhareji yeVashandi veEquity = Denominator
Zvichipa ruzivo urwu, heino chirevo chekudzoka paInvested Capital:
ROIC kana ROCE = NOPAT / Operating Capital
Iwe Unotsanangura Sei Kudzoka Kwekutsvaga Mari ?
Kudzoka paInvest Capital ndiyo chiyero chekushanda chinoratidza kuti mari yakadini inokonzerwa nedhora rega rega rekushandisa. Kana iyo ROIC yakakura kudarika iyo yakawanda inorema muvhareji yemari yemari, zvino bhizinesi iri kuwedzera kukosha.
Kuverenga kuyerwa kwemahombekombe ekubhadhara mari (WACC) hakusi kwakaoma, asi kuunganidza zvakakosha zvinodiwa zvakakosha kuita kuti kuverenga zviremerwe (inoshandiswa mari yekubhadhara, kubhadhara mitero yekambani, mari yehutano nezvimwe). Asi, nerufaro, hazvisi zvekare. Chero huwandu hwekutengeserana hukuru, kusanganisira huwandu hwemabhizimisi epaIndaneti, huchava nehuwandu hwekutsvaga huripo kune imwe sangano guru, uye mushumo wega wega unosanganisira WACC.
Kana uchinge wava neWACC, une chikonzero chinokosha chokugadzira chisarudzo. Ngatitii, somuenzaniso, kuti kambani ine 15% ROIC uye WACC ye8%.
Zvinoreva kuti kambani iri kudzorera mambure 7% kune varairi vayo. Zvichienderana nehuwandu hwemamiriro ehupfumi, izvi zvinogona kuva zvakanaka kana zvakaipa - zvichida pane imwe nzvimbo pakati. Kana, kune rumwe rutivi, ROIC yekambani ye8% uye WACC yayo ye9%, iyo haina kunaka, uye chisarudzo chako chakanaka hachifaniri kutenga sangano rekambani iyoyo.