Formulario Examen

1. Fórmulas financieras
𝑨𝒄𝒕𝒊𝒗𝒐𝒔 = 𝑃𝑎𝑠𝑖𝑣𝑜𝑠 + 𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜

𝑴𝒂𝒓𝒈𝒆𝒏 𝑩𝒓𝒖𝒕𝒐 = 𝐼𝑛𝑔𝑟𝑒𝑠𝑜 𝑝𝑜𝑟 𝑉𝑒𝑛𝑡𝑎𝑠 − 𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑙𝑎𝑠 𝑉𝑒𝑛𝑡𝑎𝑠

𝑴𝒂𝒓𝒈𝒆𝒏 𝑶𝒑𝒆𝒓𝒂𝒄𝒊𝒐𝒏𝒂𝒍 = 𝑀𝑔. 𝐵𝑟𝑢𝑡𝑜 − 𝐺𝑎𝑠𝑡𝑜𝑠 𝑂𝑝𝑒𝑟𝑎𝑐𝑖𝑜𝑛𝑎𝑙𝑒𝑠 + 𝑂𝑡𝑟𝑜𝑠 𝐼𝑛𝑔𝑟𝑒𝑠𝑜𝑠 (𝐺𝑎𝑠𝑡𝑜𝑠)

𝑪𝒂𝒋𝒂 𝑭𝒊𝒏𝒂𝒍 = 𝐶𝑎𝑗𝑎 𝐼𝑛𝑖𝑐𝑖𝑎𝑙 + 𝐶𝑎𝑗𝑎 𝑅𝑒𝑐𝑖𝑏𝑖𝑑𝑎 − 𝐶𝑎𝑗𝑎 𝐺𝑎𝑠𝑡𝑎𝑑𝑎

𝑪𝒂𝒑𝒊𝒕𝒂𝒍 𝒅𝒆 𝑻𝒓𝒂𝒃𝒂𝒋𝒐 = 𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠 − 𝑃𝑎𝑠𝑖𝑣𝑜𝑠 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠

𝑭𝒍𝒖𝒋𝒐 𝒐𝒑𝒆𝒓𝒂𝒄𝒊𝒐𝒏𝒂𝒍 = 𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑂𝑝𝑒𝑟𝑎𝑐𝑖𝑜𝑛𝑎𝑙 − ∆𝐶𝑡𝑎𝑠. 𝑝𝑜𝑟 𝐶𝑜𝑏𝑟𝑎𝑟 − ∆𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜𝑠 +

∆𝐶𝑡𝑎𝑠. 𝑝𝑜𝑟 𝑃𝑎𝑔𝑎𝑟 + 𝐺𝑎𝑠𝑡𝑜 𝑝𝑜𝑟 𝐷𝑒𝑝𝑟𝑒𝑐𝑖𝑎𝑐𝑖ó𝑛 𝑦 𝐴𝑚𝑜𝑟𝑡𝑖𝑧𝑎𝑐𝑖ó𝑛 + 𝑂𝑡𝑟𝑜𝑠 𝑎𝑗𝑢𝑠𝑡𝑒𝑠 𝑛𝑜 𝑚𝑜𝑛𝑒𝑡𝑎𝑟𝑖𝑜𝑠

2. Análisis vertical (AV) y Análisis horizontal (AH)

𝐶𝑖𝑓𝑟𝑎$𝑎ñ𝑜
𝑖
𝑪𝒊𝒇𝒓𝒂𝑨𝑽𝒂ñ𝒐 =
𝒊 𝑇𝑜𝑡𝑎𝑙 𝑑𝑒 𝐴𝑐𝑡𝑖𝑣𝑜𝑠$ 𝑎ñ𝑜
𝑖

𝐶𝑖𝑓𝑟𝑎$𝑎ñ𝑜
𝑖
𝑪𝒊𝒇𝒓𝒂𝑨𝑯𝒂ñ𝒐 =
𝒊 𝐶𝑖𝑓𝑟𝑎$𝑎ñ𝑜
𝑏𝑎𝑠𝑒
 3. Ratios financieros

𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠
𝑹𝒂𝒛ó𝒏 𝒄𝒐𝒓𝒓𝒊𝒆𝒏𝒕𝒆 =
𝑃𝑎𝑠𝑖𝑣𝑜𝑠 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠
𝐸𝑓𝑒𝑐𝑡𝑖𝑣𝑜 𝑦 𝑒𝑞𝑢𝑖𝑣𝑎𝑙𝑒𝑛𝑡𝑒𝑠 + 𝐼𝑛𝑣𝑒𝑟𝑠𝑖𝑜𝑛𝑒𝑠 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠 + 𝐶𝑡𝑎𝑠. 𝑝𝑜𝑟 𝑐𝑜𝑏𝑟𝑎𝑟
𝑸𝒖𝒊𝒄𝒌 𝒓𝒂𝒕𝒊𝒐 =
𝑃𝑎𝑠𝑖𝑣𝑜𝑠 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒𝑠
𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑏𝑖𝑒𝑛𝑒𝑠 𝑣𝑒𝑛𝑑𝑖𝑑𝑜𝑠
𝑹𝒐𝒕𝒂𝒄𝒊ó𝒏 𝒅𝒆 𝒊𝒏𝒗𝒆𝒏𝒕𝒂𝒓𝒊𝒐𝒔 𝒑𝒓𝒐𝒎𝒆𝒅𝒊𝒐 =
𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜𝑝𝑟𝑜𝑚

𝐼𝑛𝑔𝑟𝑒𝑠𝑜𝑠 𝑝𝑜𝑟 𝑉𝑒𝑛𝑡𝑎𝑠

𝑹𝒐𝒕𝒂𝒄𝒊ó𝒏 𝒅𝒆 𝒂𝒄𝒕𝒊𝒗𝒐𝒔 𝒑𝒓𝒐𝒎𝒆𝒅𝒊𝒐 =
𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑡𝑜𝑡𝑎𝑙𝑒𝑠𝑝𝑟𝑜𝑚

𝐶𝑢𝑒𝑛𝑡𝑎𝑠 𝑝𝑜𝑟 𝑐𝑜𝑏𝑟𝑎𝑟𝑝𝑟𝑜𝑚 × 365

𝑫í𝒂𝒔 𝒆𝒏 𝒄𝒖𝒆𝒏𝒕𝒂𝒔 𝒑𝒐𝒓 𝒄𝒐𝒃𝒓𝒂𝒓 =
𝑉𝑒𝑛𝑡𝑎𝑠
𝐶𝑢𝑒𝑛𝑡𝑎𝑠 𝑝𝑜𝑟 𝑝𝑎𝑔𝑎𝑟𝑝𝑟𝑜𝑚 × 365
𝑫í𝒂𝒔 𝒆𝒏 𝒄𝒖𝒆𝒏𝒕𝒂𝒔 𝒑𝒐𝒓 𝒑𝒂𝒈𝒂𝒓 =
𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑙𝑜𝑠 𝑏𝑖𝑒𝑛𝑒𝑠 𝑣𝑒𝑛𝑑𝑖𝑑𝑜𝑠
𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑁𝑒𝑡𝑎 𝐼𝑛𝑔𝑟𝑒𝑠𝑜𝑠 𝑝𝑜𝑟 𝑉𝑒𝑛𝑡𝑎𝑠
𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑛𝑒𝑡𝑎
𝑹𝑶𝑨 = = 𝐼𝑛𝑔𝑟𝑒𝑠𝑜𝑠
⏟ 𝑝𝑜𝑟 𝑉𝑒𝑛𝑡𝑎𝑠 × ⏟𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑡𝑜𝑡𝑎𝑙𝑒𝑠𝑝𝑟𝑜𝑚
𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑡𝑜𝑡𝑎𝑙𝑒𝑠𝑝𝑟𝑜𝑚
𝑀𝑎𝑟𝑔𝑒𝑛 𝑑𝑒 𝑢𝑡𝑖𝑙𝑖𝑑𝑎𝑑𝑒𝑠 𝑅𝑜𝑡𝑎𝑐𝑖ó𝑛 𝑑𝑒 𝑎𝑐𝑡𝑖𝑣𝑜𝑠

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑛𝑒𝑡𝑎 𝐼𝑛𝑔𝑟𝑒𝑠𝑜𝑠 𝑥 𝑉𝑒𝑛𝑡𝑎𝑠 𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑡𝑜𝑡𝑎𝑙𝑒𝑠

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑛𝑒𝑡𝑎
𝑹𝑶𝑬 = = 𝐼𝑛𝑔𝑟𝑒𝑠𝑜 𝑥 𝑉𝑒𝑛𝑡𝑎𝑠
⏟ × 𝐴𝑐𝑡𝑖𝑣𝑜𝑠
⏟ 𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑡𝑜𝑡𝑎𝑙𝑝𝑟𝑜𝑚
𝑡𝑜𝑡𝑎𝑙𝑒𝑠𝑝𝑟𝑜𝑚 × ⏟
𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑡𝑜𝑡𝑎𝑙𝑝𝑟𝑜𝑚
𝑀𝑎𝑟𝑔𝑒𝑛 𝑑𝑒 𝑢𝑡𝑖𝑙𝑖𝑑𝑎𝑑𝑒𝑠 𝑅𝑜𝑡𝑎𝑐𝑖ó𝑛 𝑑𝑒 𝑎𝑐𝑡𝑖𝑣𝑜𝑠 𝐴𝑝𝑎𝑙𝑎𝑛𝑐𝑎𝑚𝑖𝑒𝑛𝑡𝑜

𝐷𝑒𝑢𝑑𝑎 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 𝑦 𝑑𝑒 𝑙𝑎𝑟𝑔𝑜 𝑝𝑙𝑎𝑧𝑜

𝑹𝒆𝒍𝒂𝒄𝒊ó𝒏 𝒅𝒆𝒖𝒅𝒂-𝒑𝒂𝒕𝒓𝒊𝒎𝒐𝒏𝒊𝒐 =
𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑡𝑜𝑡𝑎𝑙
𝐷𝑒𝑢𝑑𝑎 𝑐𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 𝑦 𝑑𝑒 𝑙𝑎𝑟𝑔𝑜 𝑝𝑙𝑎𝑧𝑜
𝑹𝒂𝒛ó𝒏 𝒅𝒆 𝒆𝒏𝒅𝒆𝒖𝒅𝒂𝒎𝒊𝒆𝒏𝒕𝒐 =
𝐴𝑐𝑡𝑖𝑣𝑜𝑠 𝑡𝑜𝑡𝑎𝑙𝑒𝑠
𝐸𝐵𝐼𝑇𝐷𝐴
𝑪𝒐𝒃𝒆𝒓𝒕𝒖𝒓𝒂 𝒅𝒆 𝒈𝒂𝒔𝒕𝒐𝒔 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒆𝒓𝒐𝒔 =
𝐺𝑎𝑠𝑡𝑜𝑠 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑒𝑟𝑜𝑠