EBITDA - chii? How kuverenga Analytical parameter?

Kune vakawanda zviratidzo zvakasiyana kuongorora mari mabasa kambani. Vamwe vavo nevakawanda, kwete chete nyika yedu asi pasi pose. Kune vaya rakava EBITDA. Chii mufananidzo ichi sezvo rinowanikwa, uye nokuda chii? Munyaya ino tichakurukura muudzame sei kuongorora mari mabasa zvavakanga vachida kuita maererano EBITDA tsika, uye nokuti zvinangwa kushandiswa.

EBITDA: achiongorora zvaive uye zvinoreva

Zvakakodzera pakarepo kugadzira nzvimbo, kuti Analytical parameter haisi chikamu ndizvidavirire. Uye ayo chinangwa chepakutanga - tinyatsonzwisisa kuti Kukwezva kambani tichitarisa kwayo Absorção de Água pedyo rakumbirwa mari. Sei kuongorora? First kuona EBITDA, dzemaitirwe iyo inobva mashoko ezvemari sangano wacho. Zvadaro, kunoguma nhamba rinofananidzwa ne bazi analogs, naro kubudirira ichi dzakaonekwa kunyanya kambani.

Kuti tinzwisise kuti kuenzanisa zvakafanira decipher zvinoreva EBITDA. Chii mufananidzo uyu, uye chii mashoko anopa pamusoro kambani? Anomira izwi sezvo zvakaoma pamberi Kufarira, Mitero, Depreciation uye Amortization. Kana zvashandurwa sezvariri, ndiwo zvakaoma pamberi mubereko pamusoro zvikwereti, mitero, depreciation uye amortization. Kuti zvinofungidzirwa chekambani kugona kuwana, zvisinei kuvapo zvikwereti vake chikwereti, hurumende uye depreciation nzira inoshandiswa. Profitability Akatsunga zvakananga huru basa unokubvumira kuongorora izvozvo "pfungwa yakavhurika".

Kukarukureta pamusoro EBITDA kuti dzakawanda mitemo

Sezvo indekisi ichi rinoshandiswa munyika, uye hwaro hwayo kukarukureta anofanira kuva mashoko kushuma pasi IFRS. Zvakananga, zvinotevera tsika vanofanira kuona EBITDA coefficient:

• Net mari (vasara pashure mitero uye dzimwe mari kuti bhajeti);
• nemari mari mutero;
• uwandu muripo mari mutero;
• zvinoshamisa mari uye mari;
• mubereko aibhadhara akagamuchira;
• ukoshi depreciation (zvose zvokunyama uye chisingaoneki zvinhu);
• revaluation kuti midziyo.

The zviratidzi shanu yokutanga vanoumba EBIT, kana uchishandisa mari. Inonzi musiyano chakakomba purofiti uye mari zvavo mabasa zvebhizimisi uye ndiyo hwaro EBITDA kukarukureta. EBIT kukarukureta fomura iri sezvinotevera:

• Net mubereko + mari mutero - zvaizopedza ne mutero + kwazvo. mari - zvikuru. mari +% akabhadhara -% yapihwa.

Mugumisiro chinhu zvenguva mufananidzo pakati chakakomba uye mambure mubereko. Izvi kunobatsireiko kuti kambani ingadai kugamuchira kushandisa rakumbirwa mari. Zvinosanganisira mari zvose kubva rokutengesa nezvimwe mari uye mari (kusanganisira depreciation).

EBIT uye EBITDA

, EBIT anofanira zvinenge zvakanaka. Achiziva, zvinokwanisika kuti ngaaverenge kukosha EBITDA. The kukarukureta fomura iri sezvinotevera:

• EBIT + depreciation pamusoro AI uye IA - revaluation kuti midziyo.

Saka, isu tiwane mwero profitability pamberi mitero,% -s pamusoro zvikwereti uye depreciation maererano dzakawanda nemitemo. Achabvisa izvi asiri mari mari nyaya (izvo zvinogona kunzi yakarongwa chizvidavirire mhosva ane mhando) EBITDA ukoshi hunowedzera anofungidzirwa kuti kutengeserana mari dziriko.

EBITDA munhoroondo dzezvoupfumi

Sezvambotaurwa, nhamba iyi yakanga chinangwa kuongorora chekambani kugona basa chikwereti mari (kana chikwereti). Lenders vaigona kuongorora EBITDA tsika emisasa siyana ari bhizimisi uye kuti maererano huwandu mhindu kubhadhara, iyo mumwe nomumwe wavo vachakwanisa kupa munguva yemberi iri pedyo. The chakarurama zvave zvinofadza kwazvo zvikwereti raiders, vakange vachitsvaka makambani akakodzera purofiti. Kambani kwainzi, pane sezvo nyaya upfumi, uyewo chine zvinhu kuti iwe unogona kubudirira kutengesa. Kuti aite izvi, vose nyaya iyo Tingangonyanya kutungamirirwa chikwereti mutsividzo, vakanga muchidimbu. Panyaya iyi, kana yose mambure purofiti akaenda chikwereti kubhadhara, uye bhizimisi vakava hazvikubatsiriyi somugumisiro, kunyange mutengo kwemitero aigona sechinhu mamwe hwaro dzemaitirwe muzvikwereti. Sezvingatarisirwa, kambani ava sezvisingakundiki dambudziko - zvose mari dzayo achitorwa, uye somugumisiro mabasa aifanira kurega. Asi chikwereti vaiva dema. Izvi akaita EBITDA ari kunyanya nevakawanda vari 80s, apo paiva nhokwe rokudzikinura / pakuunganidza pamwe akakwereta mari.

EBITDA iri kuitika mari kuita makambani

Nhasi, nhamba yacho inomira wechitatu dzakatevedzana nematurusi kuongorora migumisiro zvemasangano mazana mashanu pakukura America uye kuva nechokwadi kuti zvinyorwe zvavo gore negore mishumo zvemari. Zvinoratidza kuti nhamba kwemari kuti chekambani akavhiyiwa uchauyisa kuitika munguva. Uyezve, rinowanikwa inobva mubhizimisi kumahombekombe EBITDA.

The chikuru kufarirwa investor - remangwana mari wekambani, pazviri anoronga saka mari uye, zvinokosha EBITDA saizi. Kuziva zvinobvira kuona coefficient kuti inivhesitimendi profitability. The yemaitiro anotarira seizvi:

• kukosha EBITDA: kwemari kubva rokutengesa.

Pahwaro tsika vakawana rinofananidzwa dzingangoitika makambani pamwe zvivako zvakasiyana, asi kushanda chete indasitiri. For makambani, nhamba iyi - unokosha chokukomborerwa kudzoka musi inivhesitimendi yavo.

Kubatsira indekisi

Sei makambani akawanda kudaro kuita, kunyanya makuru ndivo, vanofarira pakuverenga ari chinoratidza ari EBITDA? Chii anopa? Tsanangura kufarira profitability kuongororwa chokushandisa yakareruka. Enterprises pamwe yakawanda kuti guta havashandisi mari yakawanda, vane mukana kupa basa renyu muchiedza kupfuura zvakanaka, pane maererano kwezvipimo nhau. vanoita 'pfungwa pfungwa chaiyo iri kukosha EBITDA, izvo zvinogona yekudyidzana pfuura uwandu mari chaiyo, akaverenga kufungisisa upfront mari. Asi vamwe emakambani depreciation mugove ungasvika 30% okuwana mari (simbi maindasitiri, waya TV, uye zvichingodaro.).

Pasinei chokwadi kuti anoonga kushandisa chinoratidza ichi basa kakawanda vanotarisa chakasimba kupfuura "inoti" ayo chaiye mari aibuda, vaongorori vakawanda zvino mari zvikuru nezvahwo. Zvisinei, ichi, vanonzi. Pashure pezvose, pahwaro EBITDA zvinoita kufungidzira chekambani kugona basa ayo sungiro uye kuti reinvest kuti ramangwana mabhizimisi kukura.

Kuenzanisa nekambani EBITDA

chakarurama ichi chinoshandiswa nevakawanda kuziva nzvimbo ane zvebhizimisi munyika indasitiri. Kuti aite izvi, akaita kuenzaniswa kuongorora. Inoitwa zviviri fanira zvinoriumba:

• kukarukureta kukosha bhizimisi (mu okufananidza chimiro, iro mitengo dzikwanise multiples kwemubairo, rokutengesa uye bhuku ukoshi) ;
• tichienzanisa akafanana nemakambani ari zvekutepfenyura.

Saka ari akaita Rating kambani iri musika mari. Zvinongoreva rinofananidzwa nevamwe mabhizimisi yakafanana, vane migove vari nhumbi imwe indasitiri chidimbu. EBITDA zvinodiwa ne ruzhinji rwevanhu makambani uye hazvo aripo mashoko akagadzirirwa zvinogona makambani.

mhedziso

Tinogona kugumisa kuti isu vaiona chokukomborerwa ndechimwe chezvinhu zvinokosha zvose makambani uye vanoita zvakafanana. Takazoziva nei vose dzinonakidza chaizvo EBITDA reshiyo, rinopa pacharo kuti mabhizimisi varidzi uye vanofarira bhizimisi mairi. Nokuti vapfumi ndiwo mukana kupa kambani yenyu mune chiedza zvakanaka, nokuti yechipiri - nzira kufungidzira dzingangoitika mari inogona kuwanikwa kubva bhizimisi pakuvhiya ayo.