Trabalho Fluxo Caixa

Projeo e Anlise de Fluxo de Caixa
Dados
Investimentos R$ mil
Produo Unidds\ano
Preo de Venda R$ Unid
Imposto s/Venda
Matria Prima R$ p/Unid
Mo de Obra Direta R$ mil
Custo Indireto de Fabricao R$ mil
Depreciao R$ mil
Valor Residual Depreciao R$ mil
Despesas de Administrao R$ mil
Despesas Comerciais R$ mil
Imposto de Renda
TMA
0
200,000,000.00
1
30,000.00
900
10%
130
7,000,000.00
3,000,000.00
5,000,000.00
2,000,000.00
1,000,000.00
25%
15%
Ano
2
3/4/5/6/7/8/9
10
60,000.00
120,000.00
120,000.00
8,000,000.00
6,000,000.00
10,000,000.00
9,000,000.00
12,000,000.00
20,000,000.00
3,000,000.00
2,000,000.00
4,000,000.00
5,000,000.00
9,000,000.00
12,000,000.00
20,000,000.00
25,000,000.00
4,000,000.00
5,000,000.00
Composio Fluxo de Caixa

Eventos
Investimento Inicial
Vendas Brutas
Impostos s/Venda
Vendas Lquidas
C.P.V
Matria-Prima
Mo-de-Obra
Custo Inidireto de Fabricao
Depreciao
Lucro Bruto
Despesas Administrativas
Despesas Comerciais
Total Despesas
Lucro Operacional
Imposto de Renda
Lucro Lquido
Depreciao
0
(200,000,000.00)
Ano
2
3/4/5/6/7/8/9
10
27,000,000.00
(2,700,000.00)
24,300,000.00
(18,900,000.00)
(3,900,000.00)
(7,000,000.00)
(3,000,000.00)
(5,000,000.00)
5,400,000.00
(2,000,000.00)
(1,000,000.00)
(3,000,000.00)
54,000,000.00
(5,400,000.00)
48,600,000.00
(31,800,000.00)
(7,800,000.00)
(8,000,000.00)
(6,000,000.00)
(10,000,000.00)
16,800,000.00
(3,000,000.00)
(2,000,000.00)
(5,000,000.00)
108,000,000.00
(10,800,000.00)
97,200,000.00
(56,600,000.00)
(15,600,000.00)
(9,000,000.00)
(12,000,000.00)
(20,000,000.00)
40,600,000.00
(4,000,000.00)
(5,000,000.00)
(9,000,000.00)
108,000,000.00
(10,800,000.00)
97,200,000.00
(56,600,000.00)
(15,600,000.00)
(9,000,000.00)
(12,000,000.00)
(20,000,000.00)
40,600,000.00
(4,000,000.00)
(5,000,000.00)
(9,000,000.00)
2,400,000.00
(600,000.00)
1,800,000.00
5,000,000.00
11,800,000.00
(2,950,000.00)
8,850,000.00
10,000,000.00
31,600,000.00
(7,900,000.00)
23,700,000.00
20,000,000.00
31,600,000.00
(7,900,000.00)
23,700,000.00
20,000,000.00
Valor Residual Depreciao

Total Fluxo de Caixa
6,800,000.00
18,850,000.00
43,700,000.00
25,000,000.00
68,700,000.00
Demonstrao Grfica Fluxo de Caixa
100,000,000.00
43,700,000.00
50,000,000.00
18,850,000.00
6,800,000.00
-
(50,000,000.00)
(100,000,000.00)
(150,000,000.00)
(200,000,000.00)
(250,000,000.00)
(200,000,000.00)
Ano 1
Ano 2
Ano 3 10
Anlise Investimento - Payback

Payback Mdio
InvestimentoInicial
FluxoDeCaixaPeriodos
200,000,000.00
200,000,000.00 Payback Mdio=
400,250,000.00
10
PerodoInv estimento
5.00 anos
40,025,000.00
Payback Efetivo
Invest.
A
n
o
1
2
3
4
5
6
7
8
9
10
(200,000,000.00)
6,800,000.00
18,850,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
68,700,000.00
(193,200,000.00)
(174,350,000.00)
(130,650,000.00)
(86,950,000.00)
(43,250,000.00)
(0.99)
Payback Efet.=
5.99 anos
Payback Descontado
A
n
o
Fluxo de Caixa
0 (200,000,000.00)
1
6,800,000.00
2
18,850,000.00
3
43,700,000.00
4
43,700,000.00
5
43,700,000.00
6
43,700,000.00
7
43,700,000.00
8
43,700,000.00
9
43,700,000.00
10
68,700,000.00
Tx.Desconto
FCx.Descontado
1.00 (200,000,000.00)
0.87
5,913,043.48
0.76
14,253,308.13
0.66
28,733,459.36
0.57
24,985,616.83
0.50
21,726,623.33
0.43
18,892,715.94
0.38
16,428,448.64
0.33
14,285,607.52
0.28
12,422,267.41
0.25
16,981,589.31
n
VPL=I +
t=1
FC 1
t
(1+k )
=I +
FC 1
Saldo
(200,000,000.00)
(194,086,956.52)
(179,833,648.39)
(151,100,189.04)
(126,114,572.20)
(104,387,948.87)
(85,495,232.93)
(69,066,784.28)
(54,781,176.77)
(42,358,909.36)
(25,377,320.05) Payback Desc
FC 2
2
1+k (1+k )
...
FC n
(1+ k )n
0.00 anos
Valor Presente Liq (VPL)
VPL=I +
t=1
FC 1
t
(1+k )
=I +
FC 1
FC 2
2
1+k (1+k )
...
FC n
(1+ k )n
VPL =
(25,377,319.90)
Projeo e Anlise de Fluxo de Caixa-B

Dados
Produo Unidds\ano
Imposto s/Venda
Depreciao R$ mil
Despesas Financeira
Imposto de Renda
TMA
0
250,000,000.00
Ano
2
3/4/5/6/7/8/9
10
30,000.00
750
10%
120
6,000,000.00
4,000,000.00
6,250,000.00
60,000.00
120,000.00
120,000.00
6,000,000.00
4,000,000.00
12,500,000.00
8,000,000.00
###
25,000,000.00
2,000,000.00
1,000,000.00
3,000,000.00
2,000,000.00
4,000,000.00
3,000,000.00
8,000,000.00
4,000,000.00
25,000,000.00
31,250,000.00
4,000,000.00
3,000,000.00
25%
5%

Eventos
Vendas Brutas
Impostos s/Venda
Vendas Lquidas
C.P.V
Matria-Prima
Mo-de-Obra
Depreciao
Lucro Bruto
Despesas Fiancerias
Despesas Comerciais
Total Despesas
Lucro Operacional
Imposto de Renda
0
(250,000,000.00)
1
22,500,000.00
(2,250,000.00)
20,250,000.00
(19,850,000.00)
(3,600,000.00)
(6,000,000.00)
(4,000,000.00)
(6,250,000.00)
400,000.00
(2,000,000.00)
(1,000,000.00)
(3,000,000.00)
(2,600,000.00)
-
Ano
2
45,000,000.00
(4,500,000.00)
40,500,000.00
(29,700,000.00)
(7,200,000.00)
(6,000,000.00)
(4,000,000.00)
(12,500,000.00)
10,800,000.00
(3,000,000.00)
(2,000,000.00)
(5,000,000.00)
5,800,000.00
(1,450,000.00)
3/4/5/6/7/8/9
90,000,000.00
(9,000,000.00)
81,000,000.00
(51,400,000.00)
(14,400,000.00)
(8,000,000.00)
(4,000,000.00)
(25,000,000.00)
29,600,000.00
(4,000,000.00)
(3,000,000.00)
(7,000,000.00)
22,600,000.00
(5,650,000.00)
10
90,000,000.00
(9,000,000.00)
81,000,000.00
(51,400,000.00)
(14,400,000.00)
(8,000,000.00)
(4,000,000.00)
(25,000,000.00)
29,600,000.00
(4,000,000.00)
(3,000,000.00)
(7,000,000.00)
22,600,000.00
(5,650,000.00)
Lucro Lquido
Depreciao
(2,600,000.00)
6,250,000.00
4,350,000.00
12,500,000.00
16,950,000.00
25,000,000.00
3,650,000.00
16,850,000.00
41,950,000.00
16,950,000.00
25,000,000.00
31,250,000.00
73,200,000.00
100,000,000.00
41,950,000.00
50,000,000.00
16,850,000.00
3,650,000.00
-
(50,000,000.00)
(100,000,000.00)
(150,000,000.00)
(200,000,000.00)
(250,000,000.00)
(300,000,000.00)
(250,000,000.00)
Ano 1
Ano 2
Ano 3 10

Payback Mdio
InvestimentoInicial
250,000,000.00
387,350,000.00
10
PerodoInv estimento
250,000,000.00 Payback Mdio=
6.5 anos
38,735,000.00
Payback Efetivo
Invest.
A
n
o
1
2
3
4
5
6
7
8
9
10
(250,000,000.00)
3,650,000.00
16,850,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
73,200,000.00
(246,350,000.00)
(229,500,000.00)
(187,550,000.00)
(145,600,000.00)
(103,650,000.00)
(61,700,000.00)
(1.47)
Payback Efet.=
TMA
Payback Descontado
#
N
A
M
E
?
0
1
2
3
4
5
6
7
8
9
10
Fluxo de Caixa
(250,000,000.00)
3,650,000.00
16,850,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
41,950,000.00
73,200,000.00
Tx.Desconto
FCx.Descontado
1.0000 (250,000,000.00)
0.9524
3,476,190.48
0.9070
15,283,446.71
0.8638
36,237,987.26
0.8227
34,512,368.82
0.7835
32,868,922.68
0.7462
31,303,735.89
0.7107
29,813,081.80
0.6768
28,393,411.24
0.6446
27,041,344.04
0.6139
44,938,450.16
TMA
5%
Saldo
(250,000,000.00)
(246,523,809.52)
(231,240,362.81)
(195,002,375.55)
(160,490,006.74)
(127,621,084.05)
(96,317,348.16)
(66,504,266.36)
(38,110,855.13)
(11,069,511.09)
33,868,939.07
10%
Tx.Desconto
FCx.Descontado
Saldo
1.0000 (250,000,000.00) (250,000,000.00)
0.9091
3,318,181.82 (246,681,818.18)
0.8264
13,925,619.83 (232,756,198.35)
0.7513
31,517,655.90 (201,238,542.45)
0.6830
28,652,414.45 (172,586,128.00)
0.6209
26,047,649.50 (146,538,478.49)
0.5645
23,679,681.37 (122,858,797.13)
0.5132
21,526,983.06 (101,331,814.07)
0.4665
19,569,984.60
(81,761,829.47)
0.4241
17,790,895.09
(63,970,934.38)
0.3855
28,221,768.79
(35,749,165.59)
Payback Desc
VPL=I +
t=1
7.5 anos
FC1
t
(1+k )
=I +
FC1 FC 2
FC n
+
...
2
1+k ( 1+k )
(1+ k )n
9.2 anos
VPL=I +
t=1
FC1
t
(1+k )
=I +
FC1 FC 2
FC n
+
...
2
1+k ( 1+k )
(1+ k )n
VPL 1 =
(33,868,939.07) VPL 2 =
35,749,165.59
Projeo e Anlise de Fluxo de Caixa-C

Dados
Produo Unidds\ano
Imposto s/Venda
Depreciao R$ mil
Despesas Financeira
Imposto de Renda
TMA
0
200,000,000.00
Ano
2
3/4/5/6/7/8/9
10
30,000.00
900
10%
130
7,000,000.00
3,000,000.00
5,000,000.00
60,000.00
120,000.00
120,000.00
8,000,000.00
6,000,000.00
10,000,000.00
9,000,000.00
12,000,000.00
20,000,000.00
2,000,000.00
1,000,000.00
3,000,000.00
2,000,000.00
4,000,000.00
5,000,000.00
9,000,000.00
12,000,000.00
20,000,000.00
25,000,000.00
4,000,000.00
5,000,000.00
25%
5%

Eventos
Vendas Brutas
Impostos s/Venda
Vendas Lquidas
C.P.V
Matria-Prima
Mo-de-Obra
Depreciao
Lucro Bruto
Despesas Fiancerias
Despesas Comerciais
Total Despesas
Lucro Operacional
Imposto de Renda
0
(200,000,000.00)
1
27,000,000.00
(2,700,000.00)
24,300,000.00
(18,900,000.00)
(3,900,000.00)
(7,000,000.00)
(3,000,000.00)
(5,000,000.00)
5,400,000.00
(2,000,000.00)
(1,000,000.00)
(3,000,000.00)
2,400,000.00
(600,000.00)
Ano
2
54,000,000.00
(5,400,000.00)
48,600,000.00
(31,800,000.00)
(7,800,000.00)
(8,000,000.00)
(6,000,000.00)
(10,000,000.00)
16,800,000.00
(3,000,000.00)
(2,000,000.00)
(5,000,000.00)
11,800,000.00
(2,950,000.00)
3/4/5/6/7/8/9
108,000,000.00
(10,800,000.00)
97,200,000.00
(56,600,000.00)
(15,600,000.00)
(9,000,000.00)
(12,000,000.00)
(20,000,000.00)
40,600,000.00
(4,000,000.00)
(5,000,000.00)
(9,000,000.00)
31,600,000.00
(7,900,000.00)
10
108,000,000.00
(10,800,000.00)
97,200,000.00
(56,600,000.00)
(15,600,000.00)
(9,000,000.00)
(12,000,000.00)
(20,000,000.00)
40,600,000.00
(4,000,000.00)
(5,000,000.00)
(9,000,000.00)
31,600,000.00
(7,900,000.00)
Lucro Lquido
Depreciao
1,800,000.00
5,000,000.00
8,850,000.00
10,000,000.00
23,700,000.00
20,000,000.00
6,800,000.00
18,850,000.00
43,700,000.00
23,700,000.00
20,000,000.00
25,000,000.00
68,700,000.00
100,000,000.00
43,700,000.00
50,000,000.00
18,850,000.00
6,800,000.00
-
(50,000,000.00)
(100,000,000.00)
(150,000,000.00)
(200,000,000.00)
(250,000,000.00)
(200,000,000.00)
Ano 1
Ano 2
Ano 3 10

Payback Mdio
InvestimentoInicial
200,000,000.00
400,250,000.00
10
PerodoInv estimento
200,000,000.00 Payback Mdio=
5.0 anos
40,025,000.00
Payback Efetivo
Invest.
A
n
o
1
2
3
4
5
6
7
8
9
10
(200,000,000.00)
6,800,000.00
18,850,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
68,700,000.00
(193,200,000.00)
(174,350,000.00)
(130,650,000.00)
(86,950,000.00)
(43,250,000.00)
450,000.00
0.01
Payback Efet.=
TMA
Payback Descontado
A
n
o
0
1
2
3
4
5
6
7
8
9
10
Fluxo de Caixa
(200,000,000.00)
6,800,000.00
18,850,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
43,700,000.00
68,700,000.00
Tx.Desconto
FCx.Descontado
1.0000 (200,000,000.00)
0.8696
5,913,043.48
0.7561
14,253,308.13
0.6575
28,733,459.36
0.5718
24,985,616.83
0.4972
21,726,623.33
0.4323
18,892,715.94
0.3759
16,428,448.64
0.3269
14,285,607.52
0.2843
12,422,267.41
0.2472
16,981,589.31
TMA
15.00%
Saldo
(200,000,000.00)
(194,086,956.52)
(179,833,648.39)
(151,100,189.04)
(126,114,572.20)
(104,387,948.87)
(85,495,232.93)
(69,066,784.28)
(54,781,176.77)
(42,358,909.36)
(25,377,320.05)
10%
Tx.Desconto
FCx.Descontado
Saldo
1.0000 (200,000,000.00) (200,000,000.00)
0.9091
6,181,818.18 (193,818,181.82)
0.8264
15,578,512.40 (178,239,669.42)
0.7513
32,832,456.80 (145,407,212.62)
0.6830
29,847,688.00 (115,559,524.62)
0.6209
27,134,261.82
(88,425,262.80)
0.5645
24,667,510.74
(63,757,752.06)
0.5132
22,425,009.77
(41,332,742.29)
0.4665
20,386,372.52
(20,946,369.78)
0.4241
18,533,065.92
(2,413,303.86)
0.3855
26,486,823.98
24,073,520.13
Payback Desc
VPL=I +
t=1
6.0 anos
FC1
t
(1+k )
=I +
FC1 FC 2
FC n
+
...
2
1+k ( 1+k )
(1+ k )n
0.0 anos
VPL=I +
t=1
FC1
t
(1+k )
=I +
FC1 FC 2
FC n
+
...
2
1+k ( 1+k )
(1+ k )n
VPL 1 =
25,377,320.05 VPL 2 =
(24,073,520.13)
Projeo e Anlise de Fluxo de Caixa-E

Dados
Produo Unidds\ano
Imposto s/Venda
Depreciao R$ mil
Despesas Financeira
Imposto de Renda
TMA
0
60,000,000.00
1
9,000.00
1200
10%
200
4,000,000.00
1,400,000.00
1,125,000.00
1,500,000.00
2,500,000.00
200,000.00
25%
10%
Ano
2
3/4/5/6/7/8/9
10
18,000.00
40,000.00
40,000.00
4,000,000.00
1,400,000.00
2,250,000.00
###
###
5,000,000.00
1,500,000.00
2,500,000.00
200,000.00
###
###
###
4,000,000.00
1,400,000.00
5,000,000.00
6,600,000.00
1,500,000.00
2,500,000.00
200,000.00

Eventos
Vendas Brutas
Impostos s/Venda
Vendas Lquidas
C.P.V
Matria-Prima
Mo-de-Obra
Depreciao
Lucro Bruto
Despesas Fiancerias
Despesas Comerciais
Total Despesas
Lucro Operacional
Imposto de Renda
0
(60,000,000.00)
1
10,800,000.00
(1,080,000.00)
9,720,000.00
(8,325,000.00)
(1,800,000.00)
(4,000,000.00)
(1,400,000.00)
(1,125,000.00)
1,395,000.00
(1,500,000.00)
(200,000.00)
(2,500,000.00)
(4,200,000.00)
(2,805,000.00)
-
Ano
2
21,600,000.00
(2,160,000.00)
19,440,000.00
(11,250,000.00)
(3,600,000.00)
(4,000,000.00)
(1,400,000.00)
(2,250,000.00)
8,190,000.00
(1,500,000.00)
(200,000.00)
(2,500,000.00)
(4,200,000.00)
3,990,000.00
(997,500.00)
3/4/5/6/7/8/9
48,000,000.00
(4,800,000.00)
43,200,000.00
(18,400,000.00)
(8,000,000.00)
(4,000,000.00)
(1,400,000.00)
(5,000,000.00)
24,800,000.00
(1,500,000.00)
(200,000.00)
(2,500,000.00)
(4,200,000.00)
20,600,000.00
(5,150,000.00)
10
48,000,000.00
(4,800,000.00)
43,200,000.00
(18,400,000.00)
(8,000,000.00)
(4,000,000.00)
(1,400,000.00)
(5,000,000.00)
24,800,000.00
(1,500,000.00)
(200,000.00)
(2,500,000.00)
(4,200,000.00)
20,600,000.00
(5,150,000.00)
Lucro Lquido
Depreciao
(2,805,000.00)
1,125,000.00
2,992,500.00
2,250,000.00
15,450,000.00
5,000,000.00
(1,680,000.00)
5,242,500.00
20,450,000.00
15,450,000.00
5,000,000.00
6,600,000.00
27,050,000.00
30,000,000.00
20,450,000.00
20,000,000.00
10,000,000.00
5,242,500.00
(1,680,000.00)
(10,000,000.00)
(20,000,000.00)
(30,000,000.00)
(40,000,000.00)
(50,000,000.00)
(60,000,000.00)
(70,000,000.00)
(60,000,000.00)
Ano 1
Ano 2
Ano 3 10

Payback Mdio
InvestimentoInicial
60,000,000.00
FluxoDeCaixaPeriodos173,762,500.00
PerodoInv estimento
60,000,000.00 Payback Mdio=
3.45 anos
17,376,250.00
10
Payback Efetivo
Invest.
A
n
o
1
2
3
4
5
6
7
8
9
10
(60,000,000.00)
(1,680,000.00)
5,242,500.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
27,050,000.00
(61,680,000.00)
(56,437,500.00)
(35,987,500.00)
(15,537,500.00)
(0.76)
Payback Efet.=
TMA
Payback Descontado
A
n
o
0
1
2
3
4
5
6
7
8
9
10
Fluxo de Caixa
(60,000,000.00)
(1,680,000.00)
5,242,500.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
20,450,000.00
27,050,000.00
Tx.Desconto FCx.Descontado
1.0000
(60,000,000.00)
0.9091
(1,527,272.73)
0.8264
4,332,644.63
0.7513
15,364,387.68
0.6830
13,967,625.16
0.6209
12,697,841.06
0.5645
11,543,491.87
0.5132
10,494,083.52
0.4665
9,540,075.93
0.4241
8,672,796.30
0.3855
10,428,945.98
n
VPL=I +
t =1
4.8 anos
FC 1
(1+k )t
=I +
FC 1
TMA
10.00%
Saldo
(60,000,000.00)
(61,527,272.73)
(57,194,628.10)
(41,830,240.42)
(27,862,615.26)
(15,164,774.20)
(3,621,282.33)
6,872,801.19
16,412,877.11
25,085,673.41
35,514,619.39
FC 2
FC n
+
...
1+k (1+k )2 (1+ k )n
Tx.Desconto FCx.Descontado
1.0000
(60,000,000.00)
0.8333
(1,400,000.00)
0.6944
3,640,625.00
0.5787
11,834,490.74
0.4823
9,862,075.62
0.4019
8,218,396.35
0.3349
6,848,663.62
0.2791
5,707,219.69
0.2326
4,756,016.40
0.1938
3,963,347.00
0.1615
4,368,726.02
Payback Desc
6.3 anos
20%
Saldo
(60,000,000.00)
(61,400,000.00)
(57,759,375.00)
(45,924,884.26)
(36,062,808.64)
(27,844,412.29)
(20,995,748.67)
(15,288,528.99)
(10,532,512.58)
(6,569,165.58)
(2,200,439.56)
VPL=I +
t =1
FC 1
t
(1+k )
=I +
FC 1
FC 2
2
1+k (1+k )
...
FC n
(1+ k )n VPL 1 =
(35,514,619.39) VPL 2 =
2,200,439.56

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Projeo e Anlise de Fluxo de Caixa

Composio Fluxo de Caixa

Valor Residual Depreciao

Demonstrao Grfica Fluxo de Caixa

Anlise Investimento - Payback

200,000,000.00 Payback Mdio=

Valor Presente Liq (VPL)

Projeo e Anlise de Fluxo de Caixa-B

Composio Fluxo de Caixa

Demonstrao Grfica Fluxo de Caixa

Anlise Investimento - Payback

250,000,000.00 Payback Mdio=

Valor Presente Liq (VPL)

Projeo e Anlise de Fluxo de Caixa-C

Composio Fluxo de Caixa

Demonstrao Grfica Fluxo de Caixa

Anlise Investimento - Payback

200,000,000.00 Payback Mdio=

Valor Presente Liq (VPL)

Projeo e Anlise de Fluxo de Caixa-E

Composio Fluxo de Caixa

Demonstrao Grfica Fluxo de Caixa

Anlise Investimento - Payback

60,000,000.00 Payback Mdio=

Valor Presente Liq (VPL)

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