Valoración de empresas por el método de flujo de caja libre aplicado a NetBeam S.A

Abstract

The following seeks to find the current economical value of the company NETBEAM S.A applying a free cash flow discounted methodology, using all needed tools in order to do a assertive analysis. The hystory and surroundings of the company are initially shown as a fundamental base to identify all relevant variables. Historical financial statements are also analyzed, by doing it the analysis can take off from a base in order to develop protections from it and be able to gather technically adequate results, contemplating the effect of the main economical variables about the results of the generation of the companies cash on a nine year term period. The financial states projection is taken as a base for the calculus of the futures cash flows, supported on the companies administration business plan and some macro economical variables protections stimated such as DTF and inflation, as well as the internal sales projection and operational margins to find the base of their future profits for the operative net working capital reinvestment and the productive assets that can guarantee that the company remain in business. After having obtain the companies future cash flow and calculating them to its present value we proceed to adjust them with the capitals pondered average capital cost/working average capital cost (CPACC or WACC) which calculus is define as the theoretical frame and the sum of the results provides the companies current value thru the free cash flow valorization method.