开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

徐威廉 · 2020年06月01日

问一道题:NO.PZ201612170200000304 第4小题 [ CFA II ]

* 问题详情,请 查看题干

问题如下:

4. Based on Exhibit 2, the multiple of enterprise value to sales for Centralino as of 31 December 2014 is closest to:

选项:

A.

0.67.

B.

0.74.

C.

0.77.

解释:

C is correct. Enterprise value (EV) is calculated as follows: EV = Market value of common equity + Market value of preferred stock + Market value of debt Cash, cash equivalents, and short-term investments

= (50 × 41.94 million) + (5.25 × 16.00 million) + 367 102

= 2,446 million (or 2.446 billion).

So, EV/Sales = 2.446 billion/3.182 billion = 0.77.

MV of debt这块为什么没有包括current liability这点看了解析还是不理解
1 个答案
已采纳答案

Debrah_品职答疑助手 · 2020年06月02日

同学你好,企业价值EV的概念是股权价值+净负债(net debt),这里的debt是有息负债,普通的liability如短期借款长期借款,应付债券等,这些是不计入企业价值EV的。因为这些负债是经营性负债,表示企业应支付但尚未支付的款项,这些款项是不用向债权人支付利息的,不构成债务。

  • 1

    回答
  • 3

    关注
  • 1287

    浏览
相关问题

NO.PZ201612170200000304问题如下4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to:A.0.67.B.0.74.C.0.77.C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77.既然是从资产负债表右边来算EV,右边的数字就应该全算进去才符合逻辑,难道留存收益就不算公司价值吗?

2024-10-02 20:42 1 · 回答

NO.PZ201612170200000304问题如下4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to:A.0.67.B.0.74.C.0.77.C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77.从逻辑上分析,站在资产负债表右边来计算整个公司的fair value ,就应该包含无息负债,这样才完整。否则用一个不完整的右边再减去cash,得出来的数字就不对了。

2024-10-02 20:38 1 · 回答

NO.PZ201612170200000304 问题如下 4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to: A.0.67. B.0.74. C.0.77. C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77. rt

2024-01-22 16:48 1 · 回答

NO.PZ201612170200000304 问题如下 4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to: A.0.67. B.0.74. C.0.77. C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77. 老师请问计算EV时怎么判断需不需要减去cash ancash equivalents呢?我记得在讲private company valuation时里面asset baseapproach是不需要减的,但是这里又需要。

2023-08-18 15:03 1 · 回答

NO.PZ201612170200000304问题如下4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to:A.0.67.B.0.74.C.0.77.C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77.表格中的common shares 826,preferreshares80是什么意思,是股数的意思吗,不是总价值的意思吧,那下面的41.94和16又是什么

2023-03-12 11:50 1 · 回答