非常全面的eva计算手册

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1、EVAManualGeneralConcept____________________________________________________________________________________________________________Issued:September2001EVAManualPage:1Printout:2021/6/238:56:13File:a08b93ddc7e1ddef8017946aa5caa87d.docTableofContentsGeneralConceptI.Introduction11.EVAisamanagementtool

2、thatmeasurestrueeconomicprofit12.EVAcanbeintegratedinallkeyprocesses13.Decision-makingbasedonEVA2II.Decision-makingwithEVA3A.HowtobuildupEVAonoperatingunitlevel31.Overview32.NOPAT(Netoperatingprofitaftertax)33.Investedcapital44.Costofcapital65.FocusonDeltaEVA7B.HowtobuildupEVAontheGroupandSBUlevel

3、8C.UseofEVAintheXYmanagementsystem91.Managementreporting92.Capitalexpenditures103.Portfolioanalysis11DetailsoftheEVACalculationIII.Appendix…………………………………………………………………………………………………………….____________________________________________________________________________________________________________Issued:Se

4、ptember2001EVAManualPage:1Printout:2021/6/238:56:13File:a08b93ddc7e1ddef8017946aa5caa87d.docI.Introduction1.EVAisamanagementtoolthatmeasurestrueeconomicprofitAllmanagersofXYshouldfocusonimprovingtheGroup’soverallvalue.WithEVA,forthefirsttime,thereisatoolthatreflectsnotonlytheoperatingperformance,b

5、utalsotheexpectedreturnontheinvestedcapitalofXY.TheEVAsystemencouragesmanagerstothinkandactlikeowners,treatingthecompany’sresourcesasiftheyweretheirown.EVAreflectsnotonlyoperatingprofitaftertaxes,butalsotakesintoaccountcostsfordebtandequitycapital.Creatingshareholdervaluemaybeachievedbyimprovingpe

6、rformance,growth,portfoliomanagementandoptimisationofcapitalstructure.EVAprovidesatoolforalloftheseaspects.EVAisamanagementtool.Ithelpsmanagerstoevaluateopportunities,setgoals,measureresults,andbenchmarkperformance.EVAisalsoanaccuratebasisforvalue-orientedincentivecompensationschemes.2.EVAcanbeint

7、egratedinallkeyprocessesTypically,companiesuseavarietyofconflictingmeasuressuchasearningsgrowth,earningspershare,returnonequity,marketshare,grossandnetmargin,cashflow,NPVandROIC.Usinganumberofdifferentmeasureslea