贝恩业绩评估-CorporatePerformanceMea.pptx

Author: Patrick Cote; ; ;Executive Summary (2 of 2); ;Objectives; ; ; ; ; ; ;Measures; ; * Sometimes referred to as Return on Investment (ROI); ; * EVA=EVA with depreciation added back;; * Adjusted for all stock splits and assuming all dividends reinvested ; ; ; ; ; ;Next, The working capital requirements are the firm’s net investments in the operating cycle, or the net amount of short-term investment required to fund operations;When calculating MVA, Net Fixed Assets is defined as Net PPE plus other Investment (tangible and intangible). The third and final step to calculate Net Assets is Net PPE, which is the amount of long-term investment required to fund operations; ; ; ; ; ; ; ; ; ; ; ; ;Definition (1 of 2);Definition (2 of 2); ; ;Economic Profit Balance Sheet; ; ; ; ; ;Advantages;Advantages (1 of 3);Advantages (2 of 3);Advantages (3 of 3);Disadvantages; ; ;Agenda;Framework;NOPAT;Note: NOPAT = Net operating profit after tax; Invested capital = All debt equity invested in format at book value; WACC = Weighted average cost of capital ROIC = Return on invested capital = (NOPAT / invested capital) also known as: Return on Net Assets (RONA) or Return on Capital employed (ROCE) ; * May be referred to as Return on Capital (ROC) or Return on Investment (ROI);Discount Rates; ; ; ;Source: INSEAD; ;Agenda;Use in Strategy Work; ;Use in Strategy Work; ; ; ; ; ; ; ; ; ;EP;CFROI; ; ; Source: Harnischfeger’s 1996 Annual Report, INSEAD; ; ; ; ; ; ; ; ; ; ; ; ;63.600 181.761; ; ; ; ; ; ; ; ; ;1、有时候读书是一种巧妙地避开思考的方法。6月-206月-20Saturday, June 13, 2020 2、阅读一切好书如同和过去最杰出的人谈话。22:04:0122:04:0122:046/13/2020 10:04:01 PM 3、越是没有本领的就越加自命不凡。6月-2022:04:0122:04Jun-2013-Jun-20 4、越是无能的人，越喜欢挑剔别人的错儿。22:04:0122:04:0122:04Saturday, June 13, 2020 5、知人者智，自知者明。胜人者有力，自胜者强。6月-206月-2022:04:0122:04:01June 13, 2020 6、意志坚强的人能把世界放在手中像泥块一样任意揉捏。13 六月 202010:04:01 下午22:04:016月-20 7、最具挑战性的挑战莫过于提升自我。。六月 2010:04 下午6月-2022:04June 13, 2020 8、业余生活要有意义，不要越轨。2020/6/13 22:04:0122:04:0113 June 2020 9、一个人即使已登上顶峰，也仍要自强不息