muestra beta L d e d/e 1+(1-t)*d/e

1 1.3 4000 10000 0.4 1.22

2 1.45 2800 6000 0.46666667 1.26
3 1.6 1700 2400 0.70833333 1.40
44% beta u prom
cok

beta empresa
beta u
1.06
1.15
1.15
1.1191 2.00036
26.50%

12.40%
efectivo y val 100 cxp 300
cxc 400 trib 100
inv 600 d cp 0
ac fij 1200 d lp 0 D/D+E DEUDA
ac intangibl 100 patrimonio 2000 10% 200
tot act 2400 tot pas y patr 2400 20% 400
30% 600
40% 800
50% 1000
60% 1200
70% 1400
80% 1600

P&L 2010 2011

ut operativa 396 470
gasto fin -57.15 -132.39971
ut imponible 338.85 337.600288
imp rent -113.51475 -113.0961
utilidad neta 225.33525 224.504191
 beta L 0.9 ebitda 400

cok 12.400% ratio de cobertura de

prima TASA INTERE beta ke wacc intereses intereses
80 5.80% 0.97 12.82% 11.94% 11.60 34.4827586207
140 6.40% 1.06 13.35% 11.57% 25.60 15.625
220 7.20% 1.17 14.02% 11.33% 43.20 9.2592592593
300 8.00% 1.32 14.92% 11.19% 64.00 6.25
500 10.00% 1.53 16.18% 11.59% 100.00 4
800 13.00% 1.85 18.07% 12.69% 156.00 2.5641025641
1200 17.00% 2.37 21.22% 14.70% 238.00 1.6806722689
1201 17.01% 3.42 27.52% 15.03% 272.16 1.4697236919

fc
2012 2013 2014 ut neta
518 572 rubros divers
-143.64437 fce
374.355627 pago deuda
-125.40914 endeudamiento
248.946492 0 0 dividendos
fcf
tesoreria
tesoreria final
ratio de deuda sobre
ebitda
0.5
1
1.5
2
2.5
3
3.5
4

2010 2011 2012 2013

225.33525 224.504191 248.946492
-727 -253 -152
-501.66475 -28.495809 96.946492
-128.625 -115.16122 -352.81825
612.28975 237.657028 353.871754
-90 -94 -98
-108 0 0
109 1 1
1 1 1