A(z) NPV kiszámítása
Mi az a NPV?
Net Present Value (NPV) sums all future cash flows discounted to today's value minus the initial investment. Positive NPV means the investment creates more value than it costs.
Képlet
NPV = Σ [Cₜ / (1+r)ᵗ] − C₀; If NPV > 0, project is value-accretive
- C₀
- Initial investment (outflow) (Currency)
- Cₜ
- Cash inflow in period t (Currency)
- r
- Discount rate (Annual percentage)
- t
- Time period (Years)
Útmutató lépésről lépésre
- 1NPV = Σ Cₜ/(1+r)ᵗ − Initial investment
- 2r = required discount rate (cost of capital)
- 3NPV > 0: invest; NPV < 0: reject
- 4Higher discount rate → lower NPV
Worked Examples
Bemenet
−$50k initial, $15k/yr for 5yr, 10% discount rate
Eredmény
NPV = +$6,862 → invest
Frequently Asked Questions
How do I choose the discount rate?
Use your weighted average cost of capital (WACC) or hurdle rate. 10% for stocks, 5–8% for real estate, 3–5% for bonds. Higher rate = stricter NPV test.
What does negative NPV mean?
Project doesn't meet your return threshold. In theory, reject it. In practice: real-world factors (strategic, competitive, optionality) may justify it anyway.
Does NPV account for risk?
Partially, via discount rate. Higher risk = higher discount rate = lower NPV. But NPV doesn't handle big downside scenarios—use scenario analysis + NPV together.
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