问题如下图：
选项：
A. 
B. 
C. 
解释：
请问，企业价值是这样计算的嘛？只需要加上长期负债，短期负债不用加？而且留存收益也不用加（虽然书上公式里面确实没有留存收益这一项，但是为什么不用加呢）？
maggie_品职助教 · 2018年01月12日
这里需要区分的是debt和liability这两个概念，公司对外的债务debt分为长期和长期中需要短期偿还两部分，题目里只给了current liability并没有做具体划分（current liability包括各种应付科目都不是公司的debt），因此这道题在计算EV时只考虑了长期debt部分。
此外，EV里面加的是权益的市值并非账面价值。
小布的圈圈 · 2018年01月14日
请问，即便是应付账款，确实不需要付利息，但为什么就应该被计算公司价值的时候排除在外呢？毕竟A公司收购B公司后，B公司之前的任何不需要付利息的短期借款，也不是就不需要偿还啦？？为什么不计入公司价值呢？不好意思，我还是无法理解~
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
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。
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
NO.PZ201612170200000304 Account receivable 难道不是现金等价物吗？
0.74. 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.MV of bt这块为什么没有包括current liability这点看了解析还是不理解