Examinando por Materia "ANÁLISIS FINANCIERO"

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    Análisis de proyecciones y valoración de una compañía del sector de alimentos
    (2014-05-12) Pérez-Linaza, A. (Andrés); Muñoz-Aristizábal, C. (Camilo)
    The project consists in the valuation of a Colombian company following the method of discounted free cash flow, using a financial model that allows projecting the future performance of the company. The valuation project is described, including the used method, the historical evolution of the company, the assumptions of projection, the financial projections, the calculation of the value and the statistical sensitization, with use of software Crystal Ball. The article ends with some recommendations and conclusions for the valuation of the company, based in the experience of the authors during the project, as well as in its academic and professional trajectory.
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    PublicaciónAcceso abierto
    Valoración de Cementos Argos en un contexto internacional
    (2014-05-13) Ochoa-Rodríguez, M. (Mónica); Arango-Botero, C. A. (Carlos Andrés)
    The paper contains the valuation of Cementos Argos (a Colombian cement company), in an international environment, using the discounted free cash flow method based on public available information, and considering a time horizon of 10 years. This valuation exercise is made of three stages: sector and company analysis, subsequently, a survey of key macroeconomic variables and their projections was conducted and an analysis of the macroeconomic risk to which the company is exposed was carried out; valuation of Cementos Argos performed with a model created by Bancolombia investment bank to valuate firms in Colombia and with Crystal Ball used to reach a range of more real values through statistic simulations; comparison of multiples of Cementos Argos in an international context, comparing it to similar cement companies (Cemex, Holcim and Lafarge) around the world. For a projection period of 10 years and a WACC (Weighted Average Cost of Capital) of 12,6% for the first year, the value per share that the model shows is COP 6386, which is fairly close to the trading price in recent months.
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    PublicaciónAcceso abierto
    Valoración de una empresa de representaciones turísticas en Antioquia
    (2014-05-12) Garzón-Palacio, F. J. (Francisco Javier); González-Posada, A. (Alejandro)
    This article describes the development of a model of valuation by means of the method of net present value of free cash flows for a company of tourist representations in Antioquia acting in different business niches, especially in the representation of an international airline of passengers transportation, an international rent a car company, a network of hotels abroad and a local company of transportation to Rionegro airport and in the distribution of prepayment phone card for international calls. At the end of the exercise, considering variable, like the opportunity cost, volatility of the sector, policies of portfolio, and exchange rate, the value of the company is obtained, which facilitates the decisions and the generation of financial recommendations.