Dimin corp

Freport (NYSE)
Tasa libre de riesgo
2009-2015
1- calculo de beta
Precio acciones DIMIN CORP
Fecha Costo acciones Variacion porcentual [%] Fecha
1/2/2009 10.69 US$ 0 1/2/2009
2/2/2009 10.51 US$ -0.0168381665 2/2/2009
3/2/2009 13.47 US$ 0.2816365366 3/2/2009
4/1/2009 14.35 US$ 0.0653303638 4/1/2009
5/1/2009 16.21 US$ 0.1296167247 5/1/2009
6/1/2009 15.83 US$ -0.0234423196 6/1/2009
7/1/2009 19.96 US$ 0.260897031 7/1/2009
8/3/2009 21.97 US$ 0.1007014028 8/3/2009
9/1/2009 23.86 US$ 0.0860263996 9/1/2009
10/1/2009 24.49 US$ 0.0264040235 10/1/2009
11/2/2009 27.24 US$ 0.1122907309 11/2/2009
12/1/2009 25.73 US$ -0.0554331865 12/1/2009
1/4/2010 20.82 US$ -0.1908278274 1/4/2010
2/1/2010 23.28 US$ 0.1181556196 2/1/2010
3/1/2010 25.11 US$ 0.0786082474 3/1/2010
4/1/2010 24.24 US$ -0.0346475508 4/1/2010
5/3/2010 23.76 US$ -0.0198019802 5/3/2010
6/1/2010 21.39 US$ -0.0997474747 6/1/2010
7/1/2010 25.32 US$ 0.1837307153 7/1/2010
8/2/2010 24.66 US$ -0.0260663507 8/2/2010
9/1/2010 28.65 US$ 0.1618004866 9/1/2010
10/1/2010 34.91 US$ 0.2184991274 10/1/2010
11/1/2010 34.52 US$ -0.0111715841 11/1/2010
12/1/2010 40.13 US$ 0.1625144844 12/1/2010
1/3/2011 36.9 US$ -0.0804884127 1/3/2011
2/1/2011 35.3 US$ -0.0433604336 2/1/2011
3/1/2011 33.59 US$ -0.0484419263 3/1/2011
4/1/2011 31.25 US$ -0.0696635904 4/1/2011
5/2/2011 29.26 US$ -0.06368 5/2/2011
6/1/2011 27.83 US$ -0.0488721805 6/1/2011
7/1/2011 28.93 US$ 0.0395256917 7/1/2011
8/1/2011 29.18 US$ 0.0086415486 8/1/2011
9/1/2011 21.59 US$ -0.2601096642 9/1/2011
10/3/2011 26.51 US$ 0.2278832793 10/3/2011
11/1/2011 27.49 US$ 0.0369671822 11/1/2011
12/1/2011 26.65 US$ -0.030556566 12/1/2011
1/3/2012 30.64 US$ 0.1497185741 1/3/2012
2/1/2012 28.56 US$ -0.0678851175 2/1/2012
3/1/2012 28.16 US$ -0.0140056022 3/1/2012
4/2/2012 29.2 US$ 0.0369318182 4/2/2012
 5/1/2012 25.7 US$ -0.1198630137 5/1/2012
6/1/2012 28.46 US$ 0.1073929961 6/1/2012
7/2/2012 29.16 US$ 0.0245959241 7/2/2012
8/1/2012 29.6 US$ 0.0150891632 8/1/2012
9/4/2012 31.26 US$ 0.0560810811 9/4/2012
10/1/2012 34.66 US$ 0.1087651951 10/1/2012
11/1/2012 35.56 US$ 0.025966532 11/1/2012
12/3/2012 37.09 US$ 0.0430258718 12/3/2012
1/2/2013 38.59 US$ 0.0404421677 1/2/2013
2/1/2013 37.24 US$ -0.0349831563 2/1/2013
3/1/2013 37.03 US$ -0.0056390977 3/1/2013
4/1/2013 32.85 US$ -0.1128814475 4/1/2013
5/1/2013 30.88 US$ -0.0599695586 5/1/2013
6/3/2013 27.38 US$ -0.1133419689 6/3/2013
7/1/2013 25.84 US$ -0.0562454346 7/1/2013
8/1/2013 27.38 US$ 0.0595975232 8/1/2013
9/3/2013 27.12 US$ -0.0094959825 9/3/2013
10/1/2013 27.83 US$ 0.026179941 10/1/2013
11/1/2013 25.1 US$ -0.0980955803 11/1/2013
12/2/2013 28.71 US$ 0.1438247012 12/2/2013
1/3/2014 13.72 US$ -0.522117729 1/2/2014
2/1/2014 15.9 US$ 0.1588921283 2/3/2014
3/1/2014 16.15 US$ 0.0157232704 3/3/2014
4/2/2014 18.1 US$ 0.1207430341 4/1/2014
5/1/2014 20.33 US$ 0.1232044199 5/1/2014
6/1/2014 21.61 US$ 0.0629611412 6/2/2014
7/2/2014 25.84 US$ 0.1957427117 7/1/2014
8/1/2014 24.52 US$ -0.0510835913 8/1/2014
9/4/2014 28.85 US$ 0.1765905383 9/2/2014
10/1/2014 32.54 US$ 0.1279029463 10/1/2014
11/1/2014 26.17 US$ -0.1957590658 11/3/2014
12/3/2014 24.86 US$ -0.0500573175 12/1/2014
1/2/2015 22.24 US$ -0.105390185 1/2/2015
2/1/2015 27.4 US$ 0.2320143885 2/2/2015
3/1/2015 24.94 US$ -0.0897810219 3/2/2015
4/1/2015 27.56 US$ 0.1050521251 4/1/2015
5/1/2015 26.88 US$ -0.0246734398 5/1/2015
6/3/2015 26 US$ -0.0327380952 6/1/2015
7/1/2015 20.32 US$ -0.2184615385 7/1/2015
8/1/2015 19.14 US$ -0.0580708661 8/3/2015
9/3/2015 14.3 US$ -0.2528735632 9/1/2015
10/1/2015 10.91 US$ -0.2370629371 10/1/2015
11/1/2015 10.55 US$ -0.0329972502 11/2/2015
12/2/2015 12.31 US$ 0.1668246445 12/1/2015

2- Calculo CAPM
 CAPM Rf [%]
DIMIN 0.107 2.17
FREEPORT 0.130 2.17

CAPM [%]
DIMIN 10.67
FREEPORT 13.02

3- calculo WACC

WACC [%] CAA

s/escudo fiscal DIMIN 9.05 23453.8
C/escudo fiscal DIMIN 8.49 23453.8
s/escudo fiscal FREEPORT 10.55 23453.8
C/escudo fiscal FREEPORT 9.99 23453.8

Supuestos %
Impuestos sobre utilidades 25% 25
Kd=6% tasa endeudamiento bancos 6.22
- calculo de beta
Varia
Close Adj Close Variacion Porcentual [%] Periodo
25.1 US$ 0 0140
30.4 US$ 0.2100239145 1
38.1 US$ 0.2527942472 2120
42.7 US$ 0.1191288607 3
54.4 US$ 0.2762015814 4
100
50.1 US$ -0.0793679772 5
60.3 US$ 0.2033525803 6
63.0 US$ 0.0444444618 7 80

CLOSE US$
68.6 US$ 0.0893934741 8
73.4 US$ 0.0692318894 9 60
82.8 US$ 0.1286805053 10
80.3 US$ -0.0303140327 11
40
66.7 US$ -0.1693859613 12
75.2 US$ 0.1270055742 13
83.5 US$ 0.1114954305 14 20
75.5 US$ -0.0958822349 15
70.1 US$ -0.0725539001 16 0
0 10
59.1 US$ -0.1558886728 17
71.5 US$ 0.2098765397 18
72.0 US$ 0.0062901453 19
85.4 US$ 0.1861369825 20
94.8 US$ 0.1100831726 21
101.3 US$ 0.068889112 22
120.1 US$ 0.1852545993 230.4
108.8 US$ -0.094429148 24
0.3
53.0 US$ -0.5131034391 25
55.5 US$ 0.0491028886 260.2
55.0 US$ -0.0095409363 27
51.6 US$ -0.0614322246 280.1
52.9 US$ 0.0243997487 29
0
53.0 US$ 0.0011341587 30 0 10
47.1 US$ -0.1104606894 31-0.1
[%]

30.5 US$ -0.3536404085 32

40.3 US$ 0.3221673786 33-0.2
39.6 US$ -0.0163934434 34
36.8 US$ -0.0709595238 35-0.3
46.2 US$ 0.2560477778 36
-0.4
42.6 US$ -0.0789871906 37
38.0 US$ -0.106203005 38-0.5
38.3 US$ 0.0068348579 39
-0.6
 -0.4

-0.5

32.0 US$ -0.1634464272 40-0.6

34.1 US$ 0.0633582689 41
33.7 US$ -0.0117405929 42
36.1 US$ 0.0724681659 43
39.6 US$ 0.0960952895 44
38.9 US$ -0.0176857242 45
39.0 US$ 0.0033435442 46
34.2 US$ -0.1233016469 47
35.3 US$ 0.0307017242 48
31.9 US$ -0.0944680851 49
33.1 US$ 0.0369673559 50
30.4 US$ -0.080664597 51
31.0 US$ 0.0203745974 52
27.6 US$ -0.1107889891 53
28.3 US$ 0.0242665692 54
30.2 US$ 0.068599644 55
33.1 US$ 0.0946394141 56
36.8 US$ 0.1112453379 57
34.7 US$ -0.0563111837 58
37.7 US$ 0.0879216803 59
32.4 US$ -0.1412295103 60
32.6 US$ 0.0064794508 61
33.1 US$ 0.0137952487 62
34.4 US$ 0.0393105231 63
34.0 US$ -0.0093104454 64
36.5 US$ 0.0719530418 65
37.2 US$ 0.0197260548 66
36.4 US$ -0.0228372374 67
32.7 US$ -0.102282021 68
28.5 US$ -0.1271057196 69
26.9 US$ -0.0578947368 70
23.4 US$ -0.1299813408 71
16.8 US$ -0.2803939092 72
21.6 US$ 0.2867341039 73
19.0 US$ -0.1239019012 74
23.3 US$ 0.2279682729 75
19.7 US$ -0.1555651053 76
18.6 US$ -0.0524172519 77
11.8 US$ -0.3689581435 78
10.6 US$ -0.0944680851 79
9.7 US$ -0.0892857143 80
11.8 US$ 0.2146542828 81
8.2 US$ -0.3050127443 82
7.8 US$ -0.0427872861 83

2- Calculo CAPM
PRM
 B Rm [%] Franquicias de freeport en otros paises
1.44 8.08 Pais Country risk (RM)
1.84 8.08 Chile 0.7%
5.78 Congo (Democratic Republic of) 7.2%
Indonesia 2.4%
Rm 8.08 Peru 1.3%
United States of America 0.0%
Promedio 2.3%

3- calculo WACC
Freeport
D Kd Ke=CAPM Año
13381.6 6.22 10.67 2009
13381.6 6.22 10.67 2010
13381.6 6.22 13.02 2011
13381.6 6.22 13.02 2012
2013
2014
2015

Fuente http://s2.q4cdn.com/089924811/files/
pagina 70

usar 1.19
o tambien el 6.22
Fuente : http://l.facebook.com/l.php?u=http%3A%2F%2Fwww.sbif.cl%2Fsbifweb%2Fservlet
 Variación acciones
140

120

100 Di mi n
Corp
Freeport
80
CLOSE US$

60

40

20

0
0 10 20 30 40 50 60 70 80 90

Periodo [mes]

Variación porcentual
0.4

0.3

0.2

0.1

0
0 10 20 30 40 50 60 70 80 90
Freeport
[%]

-0.1 DIMIN

-0.2

-0.3

-0.4

-0.5 -0.5131034391

-0.6

periodos [mes]
-0.4

-0.5 -0.5131034391

-0.6

periodos [mes]
 2.3

Deuda Patrimonio
- -
- -
3505 18499
3508 20999
20618 24042
18849 26220
20428 27509

2.q4cdn.com/089924811/files/doc_financials/annual/2015/10_k2015.pdf#page=74

w.sbif.cl%2Fsbifweb%2Fservlet%2FInfoFinanciera%3Findice%3D4.1%26idCategoria%3D555%26tipocont%3D0&h=_AQHdS6aR
 Fecha $ Cierre Rentabilidad Mensual (%)
1/2/2009 825.880005 0
2/2/2009 735.090027 -0.1099311976
3/2/2009 797.869995 0.0854044616 covarianza
4/1/2009 872.809998 0.0939250799 Varianza
5/1/2009 919.140015 0.0530814463 B
Di mi n
Corp 6/1/2009 919.320007 0.0001958265
reeport 7/1/2009 987.47998 0.074141727
8/3/2009 1020.62 0.0335601892
9/1/2009 1057.07996 0.0357233458
10/1/2009 1036.18994 -0.0197620009
11/2/2009 1095.63001 0.057364062
12/1/2009 1115.09998 0.0177705712
1/4/2010 1073.87 -0.0369742462
2/1/2010 1104.48999 0.0285136889
3/1/2010 1169.43005 0.058796426
4/1/2010 1186.68994 0.0147592299
5/3/2010 1089.41003 -0.0819758419
6/1/2010 1030.70996 -0.053882442
7/1/2010 1101.59998 0.0687778499
8/2/2010 1049.32996 -0.047449184
9/1/2010 1141.19995 0.0875511029
10/1/2010 1183.26001 0.0368559944
11/1/2010 1180.55005 -0.0022902498
12/1/2010 1257.64002 0.0653000405
1/3/2011 1286.12 0.022645574
2/1/2011 1327.21997 0.0319565641
3/1/2011 1325.82996 -0.0010473132
4/1/2011 1363.60999 0.0284953804
5/2/2011 1345.19995 -0.0135009528
6/1/2011 1320.64002 -0.0182574613
7/1/2011 1292.28003 -0.0214744258
Freeport 8/1/2011 1218.89002 -0.0567911075
DIMIN
9/1/2011 1131.42004 -0.0717619883
10/3/2011 1253.30005 0.1077230385
11/1/2011 1246.95996 -0.0050587152
12/1/2011 1257.59998 0.0085327639
1/3/2012 1312.41003 0.0435830622
2/1/2012 1365.68005 0.0405894641
3/1/2012 1408.46997 0.0313323145
4/2/2012 1397.91003 -0.0074974527
 5/1/2012 1310.32996 -0.0626507256
6/1/2012 1362.16003 0.0395549821
7/2/2012 1379.31995 0.0125975741
8/1/2012 1406.57996 0.0197633697
9/4/2012 1440.67004 0.0242361537
10/1/2012 1412.16003 -0.0197894099
11/1/2012 1416.18005 0.002846717
12/3/2012 1426.18994 0.0070682305
1/2/2013 1498.10999 0.0504280965
2/1/2013 1514.68005 0.0110606492
3/1/2013 1569.18994 0.0359877235
4/1/2013 1597.56995 0.0180857679
5/1/2013 1630.73999 0.0207628117
6/3/2013 1606.28003 -0.0149993016
7/1/2013 1685.72998 0.0494620798
8/1/2013 1632.96997 -0.031298019
9/3/2013 1681.55005 0.0297495232
10/1/2013 1756.54004 0.0445957526
11/1/2013 1805.81006 0.0280494716
12/2/2013 1848.35999 0.0235627916
1/2/2014 1782.58997 -0.0355829057
2/3/2014 1859.44995 0.04311703
3/3/2014 1872.33997 0.0069321656
4/1/2014 1883.94995 0.006200789
5/1/2014 1923.56995 0.02103028
6/2/2014 1960.22998 0.0190583317
7/1/2014 1930.67004 -0.0150798306
8/1/2014 2003.37 0.0376552955
9/2/2014 1972.29004 -0.0155138372
10/1/2014 2018.05005 0.0232014608
11/3/2014 2067.56006 0.0245335888
12/1/2014 2058.8999 -0.0041885879
1/2/2015 1994.98999 -0.0310408058
2/2/2015 2104.5 0.054892511
3/2/2015 2067.88989 -0.0173961069
4/1/2015 2085.51001 0.0085208197
5/1/2015 2107.38989 0.0104913824
6/1/2015 2063.11011 -0.0210116724
7/1/2015 2103.84009 0.0197420297
8/3/2015 1972.18005 -0.0625808182
9/1/2015 1920.03003 -0.0264428316
10/1/2015 2079.36011 0.0829831178
11/2/2015 2080.40991 0.0005048693
12/1/2015 2043.93994 -0.0175301852
%3D0&h=_AQHdS6aR
DIMIN Freeport
0.0024 0.0031
0.0017 0.0017
1.438 1.836

78.3013149 21.6986850516
 Fuente; http://finance.yahoo.com/q/hp?s=FCX&a=00&b=2&c=2009&d=11&e=2&f=2015&g=m

Date Close
1/2/2009 25.1
2/2/2009 30.4
3/2/2009 38.1
4/1/2009 42.7
5/1/2009 54.4
6/1/2009 50.1
7/1/2009 60.3
8/3/2009 63.0
9/1/2009 68.6
10/1/2009 73.4
11/2/2009 82.8
12/1/2009 80.3
1/4/2010 66.7
2/1/2010 75.2
3/1/2010 83.5
4/1/2010 75.5
5/3/2010 70.1
6/1/2010 59.1
7/1/2010 71.5
8/2/2010 72.0
9/1/2010 85.4
10/1/2010 94.8
11/1/2010 101.3
12/1/2010 120.1
1/3/2011 108.8
2/1/2011 53.0
3/1/2011 55.5
4/1/2011 55.0
5/2/2011 51.6
6/1/2011 52.9
7/1/2011 53.0
8/1/2011 47.1
9/1/2011 30.5
10/3/2011 40.3
11/1/2011 39.6
12/1/2011 36.8
1/3/2012 46.2
2/1/2012 42.6
3/1/2012 38.0
4/2/2012 38.3
5/1/2012 32.0
6/1/2012 34.1
 7/2/2012 33.7
8/1/2012 36.1
9/4/2012 39.6
10/1/2012 38.9
11/1/2012 39.0
12/3/2012 34.2
1/2/2013 35.3
2/1/2013 31.9
3/1/2013 33.1
4/1/2013 30.4
5/1/2013 31.0
6/3/2013 27.6
7/1/2013 28.3
8/1/2013 30.2
9/3/2013 33.1
10/1/2013 36.8
11/1/2013 34.7
12/2/2013 37.7
1/2/2014 32.4
2/3/2014 32.6
3/3/2014 33.1
4/1/2014 34.4
5/1/2014 34.0
6/2/2014 36.5
7/1/2014 37.2
8/1/2014 36.4
9/2/2014 32.7
10/1/2014 28.5
11/3/2014 26.9
12/1/2014 23.4
1/2/2015 16.8
2/2/2015 21.6
3/2/2015 19.0
4/1/2015 23.3
5/1/2015 19.7
6/1/2015 18.6
7/1/2015 11.8
8/3/2015 10.6
9/1/2015 9.7
10/1/2015 11.8
11/2/2015 8.2
12/1/2015 7.8
11&e=2&f=2015&g=m
 Rentabilidad
Date $ Cierre
Mensual (%)

Jan 2, 2009 825.88 0 Fuente

Feb 2, 2009 735.09 -12.350869 http://finance.yahoo.com/q/hp?s=%5EGSPC&a=11&b=1&
Mar 2, 2009 797.87 7.86844975
Apr 1, 2009 872.81 8.58606111
May 1, 2009 919.14 5.04058141
Jun 1, 2009 919.32 0.01957969
Jul 1, 2009 987.48 6.90241828
Aug 3, 2009 1,020.62 3.24704591
Sep 1, 2009 1,057.08 3.449124
Oct 1, 2009 1,036.19 -2.0160395
Nov 2, 2009 1,095.63 5.42518916
Dec 1, 2009 1,115.10 1.74603175
Jan 4, 2010 1,073.87 -3.8393847
Feb 1, 2010 1,104.49 2.77232026
Mar 1, 2010 1,169.43 5.55313272
Apr 1, 2010 1,186.69 1.45446578
May 3, 2010 1,089.41 -8.9296041
Jun 1, 2010 1,030.71 -5.6951034
Jul 1, 2010 1,101.60 6.43518519
Aug 2, 2010 1,049.33 -4.9812738
Sep 1, 2010 1,141.20 8.05029793
Oct 1, 2010 1,183.26 3.55458648
Nov 1, 2010 1,180.55 -0.229554
Dec 1, 2010 1,257.64 6.12973506
Jan 3, 2011 1,286.12 2.21441234
Feb 1, 2011 1,327.22 3.09669836
Mar 1, 2011 1,325.83 -0.10484
Apr 1, 2011 1,363.61 2.7705869
May 2, 2011 1,345.20 -1.3685697
Jun 1, 2011 1,320.64 -1.8597044
Jul 1, 2011 1,292.28 -2.1945708
Aug 1, 2011 1,218.89 -6.0210519
Sep 1, 2011 1,131.42 -7.7309929
Oct 3, 2011 1,253.30 9.72472672
Nov 1, 2011 1,246.96 -0.5084365
Dec 1, 2011 1,257.60 0.84605598
Jan 3, 2012 1,312.41 4.17628637
Feb 1, 2012 1,365.68 3.90062094
Mar 1, 2012 1,408.47 3.03804838
Apr 2, 2012 1,397.91 -0.7554134
May 1, 2012 1,310.33 -6.6838125
Jun 1, 2012 1,362.16 3.8049862
Jul 2, 2012 1,379.32 1.24409129
Aug 1, 2012 1,406.58 1.9380341
Sep 4, 2012 1,440.67 2.36626014
Oct 1, 2012 1,412.16 -2.018893
Nov 1, 2012 1,416.18 0.28386222
Dec 3, 2012 1,426.19 0.70187002
Jan 2, 2013 1,498.11 4.80071557
Feb 1, 2013 1,514.68 1.09396044
Mar 1, 2013 1,569.19 3.47376672
Apr 1, 2013 1,597.57 1.77644798
May 1, 2013 1,630.74 2.03404589
Jun 3, 2013 1,606.28 -1.5227731
Jul 1, 2013 1,685.73 4.71309166
Aug 1, 2013 1,632.97 -3.2309228
Sep 3, 2013 1,681.55 2.88900122
Oct 1, 2013 1,756.54 4.26918829
Nov 1, 2013 1,805.81 2.7284155
Dec 2, 2013 1,848.36 2.30204073
Jan 2, 2014 1,782.59 -3.6895753
Feb 3, 2014 1,859.45 4.13348033
Mar 3, 2014 1,872.34 0.68844334
Apr 1, 2014 1,883.95 0.61625839
May 1, 2014 1,923.57 2.05971189
Jun 2, 2014 1,960.23 1.8701887
Jul 1, 2014 1,930.67 -1.5310747
Aug 1, 2014 2,003.37 3.62888533
Sep 2, 2014 1,972.29 -1.5758332
Oct 1, 2014 2,018.05 2.26753549
Nov 3, 2014 2,067.56 2.39461007
Dec 1, 2014 2,058.90 -0.4206129
Jan 2, 2015 1,994.99 -3.2035248
Feb 2, 2015 2,104.50 5.20361131
Mar 2, 2015 2,067.89 -1.7704036
Apr 1, 2015 2,085.51 0.84487727
May 1, 2015 2,107.39 1.03825111
Jun 1, 2015 2,063.11 -2.1462743
Jul 1, 2015 2,103.84 1.93598372
Aug 3, 2015 1,972.18 -6.6758612
Sep 1, 2015 1,920.03 -2.7161034
Oct 1, 2015 2,079.36 7.66245383
Nov 2, 2015 2,080.41 0.05047082
Dec 1, 2015 2,102.63 1.05677176
/hp?s=%5EGSPC&a=11&b=1&c=2009&d=11&e=1&f=2015&g=m&z=66&y=66