Zininzi izinto ekufuneka ziqwalaselwe xa uxabisa inkampani. Abatyali-mali abaninzi bakhetha ukulandela isicwangciso se ukutyala ixabiso, ekwabizwa ngokuba yixabiso lotyalo-mali. Kule nto, kubalulekile ukwazi indlela yokufumanisa ukuba izabelo zingaphantsi okanye zingaphezulu kwexabiso lazo lokwenyani, okanye ubuncinci ukwazi ukubala ixabiso lazo kwinqanaba lokubala. Kule nto kukho ixabiso lethiyori yesabelo, esiza kuthetha ngayo kweli nqaku.
Okokuqala siya kuchaza ukuba yintoni kanye ixabiso lethiyori yesabelo kwaye emva koko siya kukubonisa ukuba yintoni ifomula yayo, sichaza ukubala ngomzekelo. Ukongeza, siya kuphawula kancinci malunga nokuba liliphi ixabiso lokutyala imali. Ukuba ucinga ngokutyala imali, ezi ngqikelelo zibalulekile, Ngoko ke ndincoma ukuba uqhubeke ufunda.
Lithini ixabiso lethiyori yesabelo?
Ikwaziwa njengexabiso lencwadi, ixabiso lethiyori yesitokhwe Lelo xabiso ekufuneka inkampani ibe nalo kwinqanaba le-accounting. Iphunyezwa ngokubala okwenziwe ngedatha ekhutshwe kwi-balance sheet yenkampani echaphazelekayo.
Elinye igama leli xabiso lixabiso lencwadi. Ukufumana ukuba yintoni na, Kuyimfuneko ukubala ukuba yintoni umahluko phakathi kwee-asethi zenkampani, ukuthabatha kuzo izibophelelo okanye iimfanelo zayo zokuhlawula. Isiphumo sahlulwe linani lilonke lezabelo ezikhutshwe yile nkampani.
Kodwa lithini ixabiso lethiyori lesabelo? Eli xabiso ngokusisiseko lisixelela ukuba yintoni ixabiso lenkampani, esoloko ethetha kwinqanaba lobalo-mali. Ibonisa elo xabiso njengoko, ukubala, isimbuku sazo zonke ii-asethi okanye izinto zenkampani ekuthethwa ngayo zisetyenziswa, njengezakhiwo, oomatshini, njl.njl., ukuthabatha kwisiphumo samatyala inkampani enawo.
Kufuneka kuqatshelwe ukuba ixabiso lencwadi yethiyori ayifani nexabiso lobuso. Omabini la magama adla ngokubhidaniswa rhoqo. Umahluko kukuba, ukufumana ixabiso le-nominal, umlinganiselo phakathi kwe-share capital (hayi i-asethi) kunye nenani elipheleleyo lezabelo ezikhutshwe yinkampani zibalwa.
Libalwa njani ixabiso lethiyori yesabelo?
Ngoku siyazi ukuba yintoni ixabiso lethiyori yesabelo, makhe sibone ukuba sibalwa njani. Ukuze wenze lo msebenzi, Kunyanzelekile ukuba sazi zombini ii-asethi kunye namatyala enkampani ekuthethwa ngayo. Ifomyula yokubala ixabiso lencwadi esisiseko yile ilandelayo:
I-VTC (iXabiso loCwangciso loCwangciso) = Ii-Asethi-Amatyala
Njengoko abaninzi benu sele besazi, Isiphumo esifunyenwe ngokuthabatha amatyala kwii-asethi zenkampani yaziwa njenge ixabiso elifanelekileyo. Ke ngoko, ifomula epheleleyo yokufumana ixabiso lencwadi yethiyori yezabelo zenkampani imi ngolu hlobo lulandelayo:
VTCa = Ixabiso elipheleleyo / inani lezabelo ezikhutshiweyo
Isiphumo salo msebenzi lixabiso lobalo-mali lwethiyori ngesabelo ngasinye, esisixelela ukuba singakanani isabelo senkampani esinokuxabisa ngokwemigaqo yobalo. Le ngcamango iluncedo kakhulu kubatyali-mali xa becinga ukutyala imali kwinkampani ethile. Inketho elungileyo kukusebenzisa njengesalathiso xa kufikwa ekuboneni ixabiso lezabelo zenkampani ngaphakathi kwimarike.
Ukuqwalasela oko sisandul 'ukuchaza, sinokufumanisa ukuba ukuba ixabiso lethiyori yesabelo lingaphantsi kwexabiso elinikezelwa yi-stock market, lixesha elibi lokulithenga. Kule meko, inkampani ekuthethwa ngayo ixabisa kakhulu kwaye ukukhula okulindelweyo okukhoyo kuyo kuphezulu kakhulu. Endaweni yoko, ukuba ixabiso lethiyori yesabelo liphezulu kunexabiso lesabelo kwi-stock market, lixesha elifanelekileyo lokuthenga, njengoko kunokwenzeka ukuba siza kwenza inzuzo kwixesha elizayo.
Umzekelo wokubala
Ukuze siqinisekise ukuba siyayiqonda indlela yokubala ixabiso lethiyori yesabelo, siza kunika umzekelo omncinci. Masithi sinenkampani ethengiswe esidlangalaleni enempahla ye-200 yezigidi zeedola, ukwenza amanani ajikelezayo. Ukongeza, banamatyala ewonke ezizigidi ezingama-50 zeedola.
Ukwazi ukuba i-net yakhe ixabisa i-150 yezigidi zeedola, oko kukuthi, i-200 yezigidi ze-50 yezigidi zamatyala, ngoku kufuneka sijonge kwinani lezabelo eziseleyo. Masithi kukho izabelo ezizizigidi ezili-100 zizonke ezikhutshiweyo, ifomula yokusetyenziswa ingangokulandelayo:
TVCa = $150.000.000 / 100.000.000 = $1,5
Oku kusixelela ukuba ixabiso lencwadi yethiyori yesabelo yi-$1. Masikhumbule ukuba ukuba eli xabiso liphezulu kwi-market market, lithengi elibi, kodwa ukuba lingaphantsi kwayo, lithengwa kakuhle. Ngamanye amazwi, ukuba kwiimarike, ngenxa yaso nasiphi na isizathu, izabelo zorhwebo kwi-$ 0, kuya kuba lithuba elinomdla kakhulu. Apha umsebenzi uya kuba kukufumanisa ukuba le yinto enqabileyo ngenxa yeengxaki ezithile kwicandelo okanye kwenye, okanye ukuba inkampani ichaphazeleke ngokwenene ngesizathu esithile sokuba imarike sele ithotyiwe.
ixabiso lotyalo-mali
Ukugqiba, siza kugqabaza kancinci malunga nokuba liliphi ixabiso utyalo-mali, ekwabizwa ngokuba ukutyala ixabiso. Yifilosofi yotyalo-mali enabalandeli ababaluleke kakhulu kwaye iye yathandwa ngumbulelo Warren Buffett nomfundisi wakhe UBenjamin Graham. Le filosofi okanye iqhinga Isekelwe ekuthengeni izibambiso xa ixabiso labo lemarike lingaphantsi kwexabiso labo lokwenyani.
Ngokwexabiso lotyalo-mali, Elona xesha lilungileyo lokuthenga izabelo kuxa ixabiso lemarike lingaphantsi kwexabiso elisisiseko lesabelo. Oku kungenxa yokuba amathuba okunyuka kwexabiso layo kwixesha elizayo aphezulu kakhulu, njengoko imarike idla ukulungelelanisa. Nangona kuyinyani ukuba sisicwangciso esihle kakhulu kwaye sinengqondo, kukho iingxaki ezimbini ezinkulu ekuphumezeni:
- Bala okanye uqikelele ukuba liyakuba yintoni ixabiso langaphakathi lesihloko okanye isabelo.
- Yazi indlela yokuqikelela ukuba kuya kuthatha ixesha elingakanani ukuba ixabiso libonakale kwimarike.
Nokuba singabaxhasi okanye hayi ukutyala ixabiso, okanye ixabiso lokutyala imali, ukwazi ukuba yintoni kunye nendlela yokubala ixabiso lethiyori yesabelo kuya kuba luncedo xa ufunda ixabiso lenkampani kunye nokunciphisa ilahleko enokwenzeka. Ulwazi aluthathi ndawo!