某通信公司戰(zhàn)略的制定方法咨詢報告-在線瀏覽
2025-02-05 17:57本頁面
【正文】 于決定進(jìn)入哪些業(yè)務(wù)? 用于確定業(yè)務(wù)的戰(zhàn)略原則? 用于衡量業(yè)務(wù)戰(zhàn)略的財務(wù)影響 , 并調(diào)整戰(zhàn)略方向? 時間跨度為十二個月? 詳細(xì)的財務(wù)預(yù)算? 用于決定次年的具體經(jīng)營目標(biāo)? 作為績效考評的主要依據(jù)之一16Datang010307BJ(GB)PR1戰(zhàn)略規(guī)劃的財務(wù)模型按業(yè)務(wù)群建立業(yè)務(wù) 業(yè)務(wù)群 業(yè)務(wù)3G系統(tǒng)2G系統(tǒng)____________________移動固線 程控交換機(jī)ATM交換機(jī)IP路由器以太網(wǎng)交換機(jī)__________________________________________________軟件 _____________________微電子 _____________________風(fēng)險投資 _____________________傳輸 _____________________業(yè)務(wù)群示意17Datang010307BJ(GB)PR1財務(wù)模型示例Market size factsGlobal Market SizeChina Share of World MktChina Market SizeTarget geography mkt sizeTgt Sgmt as% of Tgt GeogrphyTarget Market SizeTarget Market Size ShareRevenueGross Margin (% of revenue)Gross ProfitSGA ExpensesEBITDA (% of revenue)EBITDADepreciation AmortizationOperating Margin as % of RevenueNet Operating Profit (EBIT)Tax Rate Adjustment (as %)NOPLATCapital TurnoverInvested CapitalROICNOPLATDepreciation AmortizationNew Capital Investment Cash FlowShare of Revenue InternalInternal RevenueRevenue per headH/CX=X==X=X=–==–==–=+–=Target MarketIne StatementCash FlowROICInternal accounting H/CYear Historical Aspiration 1999 2023 2023 2023 2023US$ millionsPercent US$ MillionsUS$ millionsPercent US$ MillionsUS$ millionsPercent US$ MillionsPercent US$ MillionsUS$ MillionsPercent US$ MillionsUS$ MillionsPercent US$ MillionsPercent US$ MillionsRatio US$ MillionsPercentUS$ MillionsUS$ MillionsUS$ MillionsUS$ MillionsPercentUS$ MillionsUS$ Millions of employeesUnit18Datang010307BJ(GB)PR1基本財務(wù)指標(biāo) Source:McKinsey analysis EBITDA 息稅折攤前盈利Earning before interest, tax, depreciation and amortizationEBIT 息前稅前盈利 Earning before interest and taxNOPLAT 稅后凈營業(yè)利潤Net operating profit less adjusted taxROIC 投入資本回報率Return on invested capital19Datang010307BJ(GB)PR1如何估計 EBITDA直接法 : 間接法 : 收入–成本 (不含折舊和難攤銷 )–銷售、市場、管理費(fèi)用 (不含折舊和攤銷，不含利息 ) EBITDA–折舊和攤銷 EBIT–所得稅 NOPLAT(稅后凈經(jīng)營利潤 )EBITDA%=EBITDA收入 (Revenue)EBITDA= 收入 (Revenue) * EBITDA%行業(yè)參考數(shù)據(jù) /企業(yè)歷史數(shù)據(jù)(Benchmark/historical record)20Datang010307BJ(GB)PR1投資資本回報率 (ROIC)公式稅息前營運(yùn)利潤減去調(diào)整稅 *營運(yùn)資本加經(jīng)營性長期資產(chǎn)調(diào)整稅后營運(yùn)利潤投資資本投資資本回報率 =*假設(shè)遞延稅項不變 21Datang010307BJ(GB)PR1如何估計資本投入 (Operating Invested Capital)直接法 (簡化后 ): 間接法 : 現(xiàn)金儲備 (Cash)+應(yīng)收帳款 (AR)+存貨 (Stock) 應(yīng)付帳款 (AP)+其他流動資產(chǎn) 其他流動負(fù)債(債務(wù)除外 )+固定資產(chǎn)凈值 (FA)+長期投資 (LI)經(jīng)營性資本投入(Operating Capital Invested)資本周轉(zhuǎn)次數(shù)Capit
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