Beruflich Dokumente
Kultur Dokumente
(C) Gross Cash Flow 0.0 42.0 88.2 138.9 152.8 163.9 172.1 175.0 117.8 58.8
(D) Investment NWC 20.0 22.0 24.2 26.6 28.9 31.0 32.9 0.0 0.0 0.0
(E) Released NWC 0.0 0.0 0.0 20.0 22.0 24.2 26.6 28.9 31.0 32.9
(F) Net Change NWC (D - E) 20.0 22.0 24.2 6.6 6.9 6.8 6.3 (28.9) (31.0) (32.9)
(G) CAPEX 80.0 88.0 96.8 106.5 115.5 124.2 131.6 0.0 0.0 0.0
(H) NCR (C - F - G) (100.0) (68.0) (32.8) 25.8 30.4 32.8 34.2 203.9 148.9 91.7
(I) Balance Sheet - NWC 20.0 42.0 66.2 72.8 79.7 86.6 92.8 64.0 32.9 0.0
(J) Balance Sheet - Gross Assets 100.0 210.0 331.0 364.1 398.5 432.8 464.2 319.8 164.6 0.0
(K) % Non-Depreciating 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
(L) CFROI 20.0% 20.0% 20.0% 20.0% 18.9% 17.2% 14.6% 13.5% 12.0%
Gross CF(t) & Gross Assets(t-1)
EXISTING ASSETS
(M) PV This Year of Cash Flow / Wind Down 244.6 269.1 285.4 296.9 300.6 155.7 53.4 0.0
(N) PV Released NWC 54.5 60.0 65.7 71.4 76.6 55.4 29.9 0.0
(O) PV of Total Receipts From Existing Assets (M + N) 299.2 329.1 351.1 368.3 377.3 211.1 83.3 0.0
FUTURE INVESTMENTS
(P) Investment (D + G) 121.0 133.1 144.4 155.2 164.6 0.0 0.0 0.0
(Q) PV of Investment 144.5 158.9 163.9 170.2 170.9 0.0 0.0 0.0
(R) Incremental Wealth Created (P - Q) 23.5 25.8 19.5 14.9 6.3 0.0 0.0 0.0
(S) PV Incremental Wealth Stream 55.2 34.8 18.8 5.7 0.0 0.0 0.0 0.0
(T) Shareholder Return 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
((Value(t) + NCR(t) ) / Value(t-1)) - 1
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
(A) Asset Growth Rate 10.0% 10.0% 10.0% 8.5% 7.5% 6.0%
(B) Project ROI 20.0% 20.0% 20.0% 20.0% 17.0% 15.0% 12.0%
1 42 42 42
2 46 46 46
3 51 51 51
4 56 56 56
5 57 57 57
6 59 59 59
7 59 59 59
8 0 0 0
9 0 0 0
10 0 0 0
11 0 0 0
12 0 0 0
13 0 0 0
14 0 0 0
15 0 0 0
16 0 0 0
(C) Gross Cash Flow 0 42 88 139 153 164 172 175 118 59 0 0 0 0 0 0 0 0 0 0
(L) CFROI 20.0% 20.0% 20.0% 20.0% 18.9% 17.2% 14.6% 13.5% 12.0% Err:523 Err:523 Err:523 Err:523 Err:523 Err:523 Err:523 Err:523 Err:523 Err:523
Gross CF(t) & Gross Inv(t-1)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
PV of Gross Investments + NCR 685 728 768 807 841 531 248 0 0 0 0 0 0 0 0 0 0 0
EXISTING ASSETS:
(M) PV This Year of Cash Flows 245 269 285 297 301 156 53 0 0 0 0 0 0 0 0 0 0 0
(N) PV Released NWC 55 60 66 71 77 55 30 0 0 0 0 0 0 0 0 0 0 0
(O) PV of Total Receipts From Existing Assets (M + N) 299 329 351 368 377 211 83 0 0 0 0 0 0 0 0 0 0 0
(V) Shareholder Return ((Value(t) + NCR(t) ) / Value(t-1)) - 1 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
SIMPLIFIED CFROI VALUATION MODEL AUDIT
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CFROI
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CFROI
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CFROI
Big T
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354 354 354 354 354 354 354 354 354 354
364 364 364 364 364 364 364 364 364 364
370 370 370 370 370 370 370 370 370 370
374 374 374 374 374 374 374 374 374 374
377 377 377 377 377 377 377 377 377 377
211 211 211 211 211 211 211 211 211 211
83 83 83 83 83 83 83 83 83 83
- - - - - - - - - -
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- - - - - - -
- - - - - -
- - - - -
- - - -
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- -
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CFROI
11 12 13 14 15 16 17 18 19 20
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
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