Professional Documents
Culture Documents
Ativo total
Disponibilidades
Patrominio Liquido
Capital de Terceiros
Receita Liquida
Lucro Bruto
Depreciao e Amort.
EBIT (Lucro operacional)
Lucro liquido
Liquidez
Capital Circulante Liquido
Liquidez Corrente
Liquidez Seca
Liquidez Imediata
Composio do endividamento (%)
Imobilizao do Capital Prprio (%)
Imobilizao do Recursos Pernamentes (%)
Ativo Circulante
Multiplos
Taxa de crescimento
ROIC (investimento)
Taxa de investimento (IR)
Price to erarning (modelo Kopeland)
2010
670,856,000
49,527,000
823,769,000
580,255,000
804,924,000
365,924,000
16,954,000.00
52,310,000.00
28,317,000.00
2009
522,732,000
2,515,000
823,769,000
519,590,000
834,215,000
409,673,000
8,197,000.00
325,004,000.00
391,565,000.00
2010
503,655,000
1.18
0.87
0.44
35.93%
38.86%
2009
623,916,000
1.21
0.99
0.44
41.22%
24.26%
246,492,000
258,360,000
2010
2009
2.54%
29.36%
2010
2009
Valor Continuo
NOPAT
ROIC
Taxa de crescimento (g)
WACC
VC (valor contnuo)
2010
20,964,240.00
2.54%
2009
241,830,600.00
29.36%
8.71%
10.66%
FCF
WACC
Taxa de crescimento (g)
VC (valor contnuo)
2010
2009
CURSO DE VALUATION
Rentabilidade
Ativo Operacional
NOPAT
ROI (%)
ROE (%)
Margem liquida (%)
Margem Operacional (%)
Margem bruta (%)
Giro
Spread (ROI - Ki)
Quantidade de aes
On emitidas
Pn emitidas
Total das aes
Aes em tesouraria
Fluxo de caixa
Fluxo de caixa operacional (FCO)
Fluxo de caixa do acionista (FCFE)
Razo payout
VP dos FCF do periodo explicito
VP do FCF aps perodo explicito
Valor total dos FCF
Endividamento
Valor do PL
Investimento
Goodwill
2010
1,404,024,000
20,964,240
14.62%
3.44%
3.52%
8.40%
45.46%
1.74
0.09
2010
20,000,000.00
34,065,000.00
54,065,000.00
9.44
510,373,600.00
2010
2009
1,343,359,000
241,830,600
164.37%
47.53%
34.49%
44.66%
36.08%
3.68
1.48
2009
20,000,000.00
34,065,000.00
54,065,000.00
9.00
486,585,000.00
2009
2010
(5.69)
86.49%
28,963,000
(49,509,000)
34,790,000
70.44%
2009
Calcular:
(2.48)
99.40%
146,610,000
(105,204,000)
86,259,000
63.07%
CFROI
Fluxo Caixas
Multiplos
Indicadores Econmicos
Beta - Fonte Comdinheiro
Risk free
Remunerao do mercado
Beta
Risco Pais
Ke
Ki
WACC
EBITDA
EVA
MVA (goodwill)
VME
RROI
CFROI
VAC (valor criado para o acionista)
Valor de mercado da empresa
Capital Investido
MVA do mercado
Razo Market to capital
Valor da ao (Fundamentalista)
2010
2009
nd
6.90%
9.78%
1.29
0.00%
10.62%
6.00%
8.71%
67,582,840
(101,288,995.40)
(116,290,465.45)
1,287,733,534.55
5.91%
0.24
6.92%
9.93%
0.00%
6.92%
16.60%
10.66%
507,152,060
98,566,785.20
113,165,080.60
1,456,524,080.60
153.70%
510,373,600.00
1,404,024,000.00
1,287,733,534.55
0.92
23.81824719
486,585,000.00
1,343,359,000.00
1,456,524,080.60
1.08
26.94024009
Fluxo Caixas
ROE
Retorno sobre o Patrimnio Lquido
2010
2009
2008
28,317,000
823,769,000
0.03
391,565,000
823,769,000
0.48
8,984,000
823,769,000
0.01
XY
0.03
0.48
0.01
0.11
0.63
X (SELIC)(RM)
0.10
0.10
0.13
0.12
0.44
Y (retorno cia)
X (IBOVESPA)(RM)
(RJ)
Ano
2010
2009
2008
2007
SOMA
0.03
0.48
0.01
0.11
0.63
0.03
0.48
0.01
0.11
0.63
XY
0.07
0.07
0.08
0.08
0.29
0.00
0.23
0.00
0.01
0.24
0.01
0.83
-0.41
0.44
0.86
Y (retorno cia)
X (POUPANA)(RM)
(RJ)
Ano
2010
2009
2008
2007
SOMA
0.00
0.05
0.00
0.01
0.07
0.00
0.39
-0.00
0.05
0.44
XY
0.00
0.23
0.00
0.01
0.24
Y
0.00
0.03
0.00
0.01
0.04
0.01
0.01
0.02
0.01
0.05
0.00
0.68
0.17
0.19
1.04
X
0.00
0.23
0.00
0.01
0.24
0.00
0.00
0.01
0.01
0.02
2007
92,776,000
823,769,000
0.11
X - Mdia X
0.01
0.01
0.04
0.03
0.09
X - Mdia X
-0.08
0.74
-0.50
0.35
0.51
X - Mdia X
-0.02
-0.02
-0.01
-0.01
-0.06
(X-MediaX)
Y - Mdia Y
(Y-MdiaY)
0.00
0.00
0.00
0.00
0.00
-0.09
0.35
-0.12
-0.01
0.13
0.01
0.12
0.01
0.00
0.14
(X-MediaX)
Y - Mdia Y (Y-MdiaY)
0.01
0.55
0.25
0.12
0.92
-0.09
0.35
-0.12
-0.01
0.13
(X-MediaX)
Y - Mdia Y
0.00
0.00
0.00
0.00
0.00
-0.09
0.35
-0.12
-0.01
0.13
0.01
0.12
0.01
0.00
0.14
(Y-MdiaY) *
(X - MdiaX)
-0.00
0.00
-0.00
-0.00
-0.00
Mdia Y
Mdia X
0.13
0.09
(Y-MdiaY) * (X Mdia Y
MdiaX)
0.01
0.26
0.06
-0.00
0.32
0.13
(Y-MdiaY)
(Y-MdiaY) * (X - MdiaX)
Mdia Y
0.01
0.12
0.01
0.00
0.14
0.00
-0.01
0.00
0.00
-0.00
0.13
Mdia X
0.17
Mdia X
0.06
Desvio X
0.00
Desvio X
0.18
Desvio X
0.00
Desvio Y
0.03
Desvio Y
0.03
Desvio Y
0.03
VAR X
0.00
VAR Y
0.00
COV XY
0.00
BETA
1.29
ALFA
0.13
VAR X
VAR Y
COV XY
BETA
ALFA
BETA
ALFA
0.03
VAR X
0.00
0.00
VAR Y
0.00
0.06
COV XY
-0.00
rj
0.24
Indicadores da Economia
Indicador
Inflao INPC(1)
Inflao IPCA(1)
Inflao IGP-di(1)
Poupana(2)
Taxa SELIC(1)
DI CETIP(3)
Ibovespa(4)
Prime Rate(5)
T Bonds(6)
Variao Real do PIB
Risco Brasil (7)
2000
5,27%
5,97%
9,81%
8,61%
17,43%
17,32%
-10,72%
2001
9,44%
7,67%
10,40%
8,49%
17,32%
17,21%
-11,02%
2002
14,74%
12,53%
26,41%
8,97%
19,17%
19,00%
-17,00%
5.46%
4.30%
7.23%
5.48%
1.30%
8.80%
4,78%
2.70%
12.69%
2003
10,38%
9,30%
7,67%
11,29%
23,34%
23,17%
97,34%
4,00%
5,07%
1.10%
8.03%
2004
6,13%
7,60%
12,14%
8,04%
16,25%
16,10%
17,81%
5,25%
4,83%
5.70%
5.33%
2005
5,05%
5,69%
1,22%
9,19%
19,05%
19,00%
27,71%
7,25%
4,53%
3.20%
3.95%
onomia
2006
2,81%
3,14%
3,79%
8,33%
15,08%
25,03%
32,93%
8,25%
4,81%
4.00%
2.33%
2007
5,16%
4,46%
7,89%
7,70%
11,88%
11,77%
43,65%
7,25%
4,45%
6.10%
1.78%
2008
6,48%
5,90%
9,10%
7,90%
12,53%
12,37%
-41,22%
3,25%
2,68%
5.10%
2.83%
2009
4.11%
4.31%
-1.44%
6.92%
9.93%
9.88%
82.66%
3.25%
4.69%
-0.60%
2.95%
2010
6.65%
5.91%
11.31%
6.90%
9.78%
9.75%
1.04%
3.25%
4.15%
7.50%
2.01%
PAINEL DE INDICADORES
Indicadores de Liquidez
Liquidez Corrente
Liquidez Seca
Liquidez Geral
Indicadores de Estrutura e Endividamento
Indicadores de Atividades
Giro do Ativo
Margem Lquida
Alavancagem
Retorno sobre o PL
Analise do Retorno sobre o Ativo Operacional
Margem Operacional
INEL DE INDICADORES
2010
2009
Ativo Circulante
Passivo Circulante
1.18
1.21
0.87
0.98
Ativo Realizveis
Passivo Exgiveis
0.44
0.44
3.52%
46.94%
24.02%
186.05%
Ativo Total
Patrimnio Lquido
Lucro Lquido aps os Impostos
Patrimnio Lquido
Despesas Financeiras
Capital de Terceiros
5,585,983
26,492,297.15
21.09%
Lucro Operacional
Ativo Operacional
ROE
ROA
Patrimnio Lquido
Nmero de Aes em Circulao
Market Value
Lucro liquido do Exerccio
Nmero de Aes em Circulao
Valor de mercado da Ao
Lucro por Ao
Comentrios
Data
8/2/2011
8/1/2011
7/29/2011
7/28/2011
7/27/2011
7/26/2011
7/25/2011
7/22/2011
7/21/2011
7/20/2011
7/19/2011
7/18/2011
7/15/2011
7/14/2011
7/13/2011
7/12/2011
7/11/2011
7/8/2011
7/7/2011
7/6/2011
Fonte: Comdinheiro
Quant Preo
ON
ON
7,44 bi
25.6
7,44 bi
26.15
7,44 bi
26.05
7,44 bi
26.06
7,44 bi
26.35
7,44 bi
26.38
7,44 bi
26.06
7,44 bi
25.5
7,44 bi
25.45
7,44 bi
24.81
7,44 bi
25.01
7,44 bi
25.2
7,44 bi
25.38
7,44 bi
25.3
7,44 bi
25.8
7,44 bi
25.5
7,44 bi
25.5
7,44 bi
25.93
7,44 bi
26.07
7,44 bi
25.96
Quant PN Preo PN
5,60 bi
23.17
5,60 bi
23.5
5,60 bi
23.5
5,60 bi
23.5
5,60 bi
23.59
5,60 bi
23.66
5,60 bi
23.5
5,60 bi
22.97
5,60 bi
23
5,60 bi
22.38
5,60 bi
22.65
5,60 bi
22.76
5,60 bi
22.99
5,60 bi
22.95
5,60 bi
23.39
5,60 bi
23.12
5,60 bi
23.15
5,60 bi
23.44
5,60 bi
23.63
5,60 bi
23.51
Market
Value
320,32 bi
326,26 bi
325,52 bi
325,59 bi
328,26 bi
328,87 bi
325,59 bi
318,46 bi
318,25 bi
310,02 bi
313,02 bi
315,05 bi
317,68 bi
316,86 bi
323,04 bi
319,30 bi
319,46 bi
324,29 bi
326,40 bi
324,91 bi
fonte Comdinheiro
Fonte Comdinheiro