{"id":350,"date":"2023-12-22T12:31:00","date_gmt":"2023-12-22T03:31:00","guid":{"rendered":"https:\/\/yorozu.cloudfree.jp\/wordpress\/?p=350"},"modified":"2024-02-01T17:52:31","modified_gmt":"2024-02-01T08:52:31","slug":"%e6%8a%95%e8%b3%87%e5%8a%b9%e6%9e%9c%e3%81%ae%e8%a9%95%e4%be%a1","status":"publish","type":"post","link":"https:\/\/yorozu.cloudfree.jp\/wordpress\/?p=350","title":{"rendered":"\u6295\u8cc7\u52b9\u679c\u306e\u8a55\u4fa1"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong>\uff11\uff0eEVA&nbsp;<\/strong>\uff08Economic Value Added\uff09<\/h4>\n\n\n\n<p>\u3000\u7d4c\u6e08\u4ed8\u52a0\u4fa1\u5024<br>\u3000\u3000\u3000\u53ce\u76ca\u6027\u6307\u6a19<br><br>\u3000\u3000\u3000\u6bce\u5e74\u306e\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u304b\u3089\u5165\u308b\u30ea\u30bf\u30fc\u30f3\u304b\u3089<br>\u3000\u3000\u3000\u3000\u3000\u6295\u4e0b\u8cc7\u672c\u306b\u5bfe\u3057\u3066\u767a\u751f\u3057\u3066\u3044\u308b\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u5dee\u3057\u5f15\u304f<br><br>\u3000\u3000\u3000\u30d7\u30e9\u30b9\u306e\u5834\u5408\u3001\u4f01\u696d\u306f<a href=\"https:\/\/mba.globis.ac.jp\/about_mba\/glossary\/detail-12415.html\">\u6295\u8cc7<\/a>\u5bb6\u306e\u671f\u5f85\u3092\u4e0a\u56de\u308b\u7d4c\u6e08\u7684\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b<br><br>\u3000\u8a08\u7b97\u5f0f<br>\u3000\u3000\u3000EVA&nbsp;\uff1d NOPAT \uff0d CE \u00d7&nbsp;WACC<br>\u3000\u3000\u3000\u3000\u3000NOPAT\uff1a\u7a0e\u5f15\u5f8c\u55b6\u696d\u5229\u76ca<br>\u3000\u3000\u3000\u3000\u3000CE\uff1a\u6709\u5229\u5b50\u8ca0\u50b5\uff0b\u682a\u4e3b\u8cc7\u672c<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\uff1d \u30cd\u30c3\u30c8\u8cc7\u7523\u306b\u6295\u4e0b\u3055\u308c\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u7dcf\u984d<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\uff1d \u6b63\u5473\u904b\u8ee2\u8cc7\u672c\uff0b\u6709\u5f62\u56fa\u5b9a\u8cc7\u7523\uff0b\u305d\u306e\u4ed6\u8cc7<br>\u3000\u3000\u3000\u3000\u3000WACC\uff1a\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\uff12\uff0eNPV<\/strong>\uff08Net Present Value\uff09<\/h4>\n\n\n\n<p>\u3000\u6b63\u5473\u73fe\u5728\u4fa1\u5024<br>\u3000\u3000\u3000\u6295\u8cc7\u984d\u306b\u5bfe\u3057\u3066\u5c06\u6765\u7684\u306b\u671f\u5f85\u3067\u304d\u308b\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b<br>\u3000\u3000\u3000\u3000\u3000\u30d7\u30e9\u30b9\u306e\u5834\u5408\u306b\u6295\u8cc7\u4fa1\u5024\u304c\u3042\u308b\u3068\u8a55\u4fa1\u3059\u308b<br><br>\u3000\u3000\u3000\u6295\u8cc7\u3092\u6c7a\u5b9a\u3059\u308b\u305f\u3081\u306e\u8a55\u4fa1\u6307\u6a19\u306e1\u3064<br>\u3000\u3000\u3000\u3000\u3000NPV\u304c\u5927\u304d\u3044\u307b\u3069\u751f\u307f\u51fa\u3059\u4fa1\u5024\u304c\u5927\u304d\u3044<br>\u3000\u3000\u3000\u3000\u3000\u7570\u306a\u308b\u6761\u4ef6\u306e\u6295\u8cc7\u6848\u4ef6\u3092\u5358\u7d14\u6bd4\u8f03\u3067\u304d\u308b<br><br>\u3000\u8a08\u7b97\u5f0f<br>\u3000\u3000\u3000NPV \uff1d PV\uff08\u73fe\u5728\u4fa1\u5024\uff09 \uff0d \u6295\u8cc7\u984d<br>\u3000\u3000\u3000\u3000\u3000\u6295\u8cc7\u306b\u3088\u3063\u3066\u5c06\u6765\u767a\u751f\u3059\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u73fe\u5728\u4fa1\u5024\uff08PV\uff09\u304b\u3089<br>\u3000\u3000\u3000\u3000\u3000\u6295\u8cc7\u984d\u3092\u5dee\u3057\u5f15\u3044\u3066\u6c42\u3081\u308b<br><br>\u3000\u3000\u3000\u3000\u3000\u73fe\u5728\u4fa1\u5024\u306f<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000PV\uff08\u73fe\u5728\u4fa1\u5024\uff09 \uff1d \u5c06\u6765\u53d7\u3051\u53d6\u308b\u91d1\u984d \uff0f \uff081 + \u5229\u7387\u30fb\u5272\u5f15\u7387\uff09n\u4e57<br><br>\u3000\u4f8b\u984c<br>\u3000\u3000\u3000\u6295\u8cc7\u984d\uff1a5,000\u4e07\u5186<br>\u3000\u3000\u3000\u5272\u5f15\u7387\uff1a4\uff05<br>\u3000\u3000\u3000\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff1a300\u4e07\u5186<br>\u3000\u3000\u3000\u60f3\u5b9a\u671f\u9593\uff1a5\u5e74<br>\u3000\u3000\u3000NPV\uff1d\uff5b300\u00f7\uff081\uff0b0.04\uff09\uff3e1\u3000+<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000300\u00f7\uff081\uff0b0.04\uff09\uff3e2\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000300\u00f7\uff081\uff0b0.04\uff09\uff3e3\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000300\u00f7\uff081\uff0b0.04\uff09\uff3e4\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000300\u00f7\uff081\uff0b0.04\uff09\uff3e5\uff5d-\u30005,000\u4e07\u5186<br>\u3000\u3000\u3000\u3000\u3000\uff1d-36,644,533<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<strong>\u6295\u8cc7\u4fa1\u5024\u306f\u7121\u3044<\/strong><br><br>\u3000\u3000\u3000\u6295\u8cc7\u984d\uff1a5,000\u4e07\u5186<br>\u3000\u3000\u3000\u5272\u5f15\u7387\uff1a4\uff05<br>\u3000\u3000\u3000\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff1a1,200\u4e07\u5186<br>\u3000\u3000\u3000\u60f3\u5b9a\u671f\u9593\uff1a5\u5e74<br>\u3000\u3000\u3000NPV\uff1d\uff5b1,200\u00f7\uff081\uff0b0.04\uff09\uff3e1\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u30001,200\u00f7\uff081\uff0b0.04\uff09\uff3e2\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u30001,200\u00f7\uff081\uff0b0.04\uff09\uff3e3\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u30001,200\u00f7\uff081\uff0b0.04\uff09\uff3e4\u3000+\u3000<br>\u3000\u3000\u3000\u3000\u3000\u3000\u30001,200\u00f7\uff081\uff0b0.04\uff09\uff3e5\uff5d\u3000-\u30005,000\u4e07\u5186<br>\u3000\u3000\u3000\u3000\u3000\uff1d3,421,868<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<strong>\u6295\u8cc7\u4fa1\u5024\u3042\u308a<\/strong>\u3000<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\uff13\uff0eROI<\/strong>\uff08Return On Investment\uff09<\/h4>\n\n\n\n<p>\u3000\u6295\u8cc7\u53ce\u76ca\u7387\u53c8\u306f\u6295\u8cc7\u5229\u76ca\u7387<br>\u3000\u3000\u3000\u4e8b\u696d\u6295\u8cc7\u3092\u8a55\u4fa1\u30fb\u6574\u7406\u3059\u308b\u969b\u306e\u57fa\u6e96\u5024<br><br>\u3000\u6295\u3058\u305f\u8cbb\u7528\u306b\u5bfe\u3057\u3066\u3001\u3069\u308c\u3060\u3051\u306e\u5229\u76ca\u3092\u4e0a\u3052\u3089\u308c\u305f\u304b\u3092\u793a\u3059\u6307\u6a19<br>\u3000\u3000\u3000ROI\u304c\u9ad8\u3044\u307b\u3069\u300c\u6295\u8cc7\u52b9\u7387\u304c\u9ad8\u3044\u300d\u3068\u5224\u65ad\u3067\u304d\u308b<br><br>\u3000ROI = \u5229\u76ca \uff0f \u6295\u8cc7\u984d<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\uff14\uff0eFCF<\/strong>\uff08Free Cash Flow\uff09<\/h4>\n\n\n\n<p>\u3000\u4f01\u696d\u304c\u81ea\u7531\u306b\u4f7f\u7528\u3067\u304d\u308b\u4f59\u5270\u8cc7\u91d1<br>\u3000\u3000\u3000\u304a\u91d1\u306e\u6d41\u308c\u3092\u77e5\u308b\u306b\u306f\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u3068\u640d\u76ca\u8a08\u7b97\u66f8\u306e\u628a\u63e1\u304c\u5fc5\u9808<br>\u3000\u3000\u3000\u3000\u3000\u3053\u308c\u3089\u306f\u5e33\u7c3f\u4e0a\u3067\u306e\u304a\u91d1\u306e\u6d41\u308c\u3057\u304b\u5206\u304b\u3089\u306a\u3044<br>\u3000\u3000\u3000\u3000\u3000\u73fe\u5728\u3069\u306e\u3050\u3089\u3044\u306e\u73fe\u91d1\uff08Cash Flow\uff09\u304c\u3042\u308b\u306e\u304b\u3092\u77e5\u308b\u5fc5\u8981\u304c\u3042\u308b<br><br>\u3000\u3000\u3000\u4e8b\u696d\u62e1\u5927\u3084\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u306b\u3069\u308c\u3060\u3051\u4e88\u7b97\u304c\u5272\u3051\u308b\u304b\u3092\u6c7a\u3081\u308b\u91cd\u8981\u306a\u8981\u7d20<br><br>\u3000\u8a08\u7b97\u5f0f<br>\u3000\u3000\u3000FCF = \u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3000\u30fc\u3000\u6295\u8cc7\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<br><br>\u3000\u6ce8\u610f\u70b9<br>\u3000\u3000\u3000\u30fb\u73fe\u6642\u70b9\u3067\u624b\u5143\u306b\u3042\u308b\u73fe\u91d1\u3060\u3051\u3067\u7b97\u51fa\u3059\u308b\u3053\u3068<br>\u3000\u3000\u3000\u3000\u3000\u88fd\u54c1\u304c100\u4e07\u5186\u58f2\u308c\u305f\u3068\u3057\u3066\u3082\u3001\u58f2\u4e0a\u306e\u5165\u91d1\u304c1\u30ab\u6708\u5148\u3067\u3042\u308c\u3070\u3001<br>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u624b\u5143\u306b\u73fe\u91d1\u306f\u306a\u3044\u305f\u3081\u3001\u58f2\u4e0a\u306f\u30bc\u30ed<br><br>\u3000\u3000\u3000\u3000\u3000\u5fc5\u305a\u5165\u91d1\u306e\u3042\u3063\u305f\u58f2\u4e0a\u984d\u3001\u652f\u6255\u3063\u305f\u4ed5\u5165\u984d\u3001\u7d4c\u8cbb\u7b49\u3067\u7b97\u51fa\u3059\u308b<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u30fb\u91d1\u984d\u306e\u30d7\u30e9\u30b9\u30fb\u30de\u30a4\u30ca\u30b9\u306e\u7406\u7531\u3092\u3088\u304f\u628a\u63e1\u3059\u308b<br>\u3000\u3000\u3000\u3000\u3000\u3000\u8cc7\u7523\u306e\u58f2\u5374\u306b\u3088\u308b\u4e00\u6642\u7684\u306a\u30d7\u30e9\u30b9\u3067\u306f\u5b89\u5b9a\u7d4c\u55b6\u3068\u306f\u8a00\u3048\u306a\u3044<br>\u3000\u3000\u3000\u3000\u3000\u3000\u4e8b\u696d\u62e1\u5927\u306e\u591a\u984d\u306e\u6295\u8cc7\u306f\u4e00\u6642\u7684\u306b\u30de\u30a4\u30ca\u30b9\u306b\u8ee2\u3058\u308b<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\uff15\uff0e\u6bd4\u8f03<\/strong><\/h4>\n\n\n\n<p>\u3000EVA\u306f\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u8003\u3048\u65b9\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u305f\u3081\u3001<br>\u3000\u3000\u3000ROA\u3084ROE\u3068\u3044\u3063\u305f\u4f1a\u8a08\u30d9\u30fc\u30b9\u306e\u6307\u6a19\u306b\u6bd4\u3079\u3066\u6063\u610f\u6027\u304c\u5165\u308a\u306b\u304f\u3044<br><br>\u3000EVA\u6570\u5b57\u3092\u5358\u5e74\u5ea6\u30d9\u30fc\u30b9\u3067\u7b97\u51fa\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u305f\u3081\u3001<br>\u3000\u3000\u3000\u4f01\u696d\u306e\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u30b5\u30a4\u30af\u30eb\u306b\u5408\u308f\u305b\u3084\u3059\u3044<br><br>\u3000NPV\u306f\u6295\u8cc7\u306e\u610f\u601d\u6c7a\u5b9a\u306b\u5411\u3044\u3066\u3044\u308b<\/p>\n\n\n\n<p>\u3000FCF\u306f\u5de8\u984d\u306e<a href=\"https:\/\/mba.globis.ac.jp\/about_mba\/glossary\/detail-12415.html\">\u6295\u8cc7<\/a>\u3092\u884c\u3046\u3068\u3059\u3050\u306b\u30de\u30a4\u30ca\u30b9\u306e\u5024\u306b\u306a\u308a\u5358\u5e74\u5ea6\u3067\u306e\u5224\u65ad\u306f\u96e3\u3057\u3044<br>\u3000\u3000\u3000EVA\u306f\u53ce\u76ca\u6027\u3092\u53cd\u6620\u3057\u3066\u5358\u5e74\u5ea6\u306e\u6570\u5b57\u3082\u3088\u304f\u306a\u308a\u3046\u308b<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30fb\u6295\u8cc7\u52b9\u679c\u306e\u6e2c\u5b9a\u65b9\u6cd5\u3092\u6574\u7406\u3059\u308b<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[41],"class_list":["post-350","post","type-post","status-publish","format-standard","hentry","category-22_","tag-management"],"_links":{"self":[{"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=350"}],"version-history":[{"count":0,"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/350\/revisions"}],"wp:attachment":[{"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yorozu.cloudfree.jp\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}