Valoración de la empresa Isagen S.A. bajo el método de flujo de caja libre

Abstract

ISAGEN S.A is a Colombian company positioned in the market in the energy generation, the build of projects and the commercializationof energy solutions. Currently, operates five plants of energy generation which four are hydraulic origin and one is thermal. Consideringthe strength of the company and its continuous growth in the market, this makes of ISAGEN a preferential company for shareholders and investors, for this reason that it is considered prudent realize a valuation of the company that way that allow give to know a estimated value of the company. The methodology used for the development of the work consists of the analysis realized from the year 2009 of the financial statements, its main economic indicators and of the sector behavior to national level, of way that to identify behaviors that permit realize the necessary projections for the valuation of the company through of the method of the discounted freecash flow. As result is shown that ISAGEN is a company whose activity depends of variables that are difficult of control, its capacity of generation depends mainly of hydric projects. In this ideas order, the valuation of ISAGEN will depend of direct way of climatic phenomenon, such as the phenomenon of the boy and girl, which affect directly the generation and the incomes of the company.