{"id":173,"date":"2018-09-25T19:38:16","date_gmt":"2018-09-25T10:38:16","guid":{"rendered":"http:\/\/nsspirt-cashf2.com\/2018\/09\/25\/2018-09-25-193816\/"},"modified":"2023-09-25T13:56:05","modified_gmt":"2023-09-25T04:56:05","slug":"eva","status":"publish","type":"post","link":"https:\/\/www.nsspirt-cashf2.com\/ba\/eva\/","title":{"rendered":"EVA\u3068\u306f\uff1f\u30a8\u30b3\u30ce\u30df\u30c3\u30af\u30d7\u30ed\u30d5\u30a3\u30c3\u30c8\u3068\u306f\uff1fMVA\u3068\u306f\uff1f"},"content":{"rendered":"<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30b9\u30bf\u30f3\u30fb\u30b9\u30c1\u30e5\u30ef\u30fc\u30c8\u793e\u304c\u958b\u767a\u3057\u305f\u6295\u8cc7\u5c3a\u5ea6\u3067\u3042\u308bEVA\u3068MVA\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<div id=\"nsspi-1818146074\" class=\"nsspi-toc nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- responsive -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"5736131584\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2>EVA\u3068\u306f<\/h2>\n<p>EVA\u3068\u306f\u4f01\u696d\u304c\u3069\u308c\u3060\u3051\u7d4c\u6e08\u7684\u4ed8\u52a0\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3057\u305f\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p>EVA\u306e\u4e00\u822c\u540d\u79f0\u306f\u30a8\u30b3\u30ce\u30df\u30c3\u30af\u30d7\u30ed\u30d5\u30a3\u30c3\u30c8\u3001\u7d4c\u6e08\u4ed8\u52a0\u4fa1\u5024\u306a\u3069\u3068\u547c\u3070\u308c\u307e\u3059\u3002<\/p>\n<p>EVA\u306f\u3001\u6295\u8cc7\u5c3a\u5ea6\u3068\u3057\u3066\u3060\u3051\u3067\u306a\u304f\u3001\u5f93\u696d\u54e1\u306e\u696d\u7e3e\u8a55\u4fa1\u6307\u6a19\u3068\u3057\u3066\u7528\u3044\u3089\u308c\u308b\u30b1\u30fc\u30b9\u3082\u591a\u3044\u6307\u6a19\u3067\u3059\u3002<\/p>\n<h3>EVA\u306e\u610f\u5473<\/h3>\n<p>EVA\u3068\u306f\u8ca1\u52d9\u4f1a\u8a08\u30d9\u30fc\u30b9\u306e\u5229\u76ca\u3067\u306f\u306a\u304f\u3001\u7d4c\u6e08\u7684\u306a\u610f\u5473\u3067\u306e\u5229\u76ca\u3092\u8868\u3059\u6307\u6a19\u3067\u3001\u65e5\u672c\u8a9e\u3067\u306f\u7d4c\u6e08\u4ed8\u52a0\u4fa1\u5024\u3068\u8a00\u3044\u307e\u3059\u3002<\/p>\n<p>\u4f01\u696d\u306f\u4f1a\u8a08\u4e0a\u306e\u5229\u76ca\u3067\u306f\u306a\u304f\u3001\u7d4c\u6e08\u7684\u5229\u76ca\u3067\u3042\u308bEVA\u3092\u30d7\u30e9\u30b9\u306b\u3059\u308b\u3053\u3068\u3067\u3001\u7d4c\u6e08\u4fa1\u5024\u3092\u751f\u3093\u3067\u3044\u308b\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>EVA\u306f\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u305b\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>EVA<\/strong><\/p>\n<p><strong>\uff1d\u3000NOPAT\u3000\uff0d\u3000\uff5b\u6295\u4e0b\u8cc7\u672c\u00d7\u8cc7\u672c\u30b3\u30b9\u30c8\uff5d<\/strong><\/p>\n<p><strong>\uff1d\u3000EBIT\u00d7\uff081-\u5b9f\u884c\u7a0e\u7387\uff09\u3000\uff0d\u3000\uff08\u6295\u4e0b\u8cc7\u672c\u00d7\u8cc7\u672c\u30b3\u30b9\u30c8\uff09<\/strong><\/p>\n<\/div>\n<p><span style=\"font-size: 1em; letter-spacing: 0.05em;\">\u3053\u306e\u5f0f\u304b\u3089\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u4f01\u696d\u306f\u6295\u4e0b\u3057\u305f\u8cc7\u672c\u306b\u304b\u304b\u308b\u30b3\u30b9\u30c8\u3001\u3059\u306a\u308f\u3061\u682a\u4e3b\u306e\u671f\u5f85\u5229\u56de\u308a\u3084\u8ca0\u50b5\u306e\u5229\u5b50\u306e\u52a0\u91cd\u5e73\u5747\u3088\u308a\u7a0e\u5f15\u304d\u5f8c\u306e\u5229\u76ca\u304c\u5927\u304d\u3051\u308c\u3070\u7d4c\u6e08\u4fa1\u5024\u3092\u751f\u3093\u3067\u3044\u308b\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<p>\u8cc7\u672c\u30b3\u30b9\u30c8\u306b\u306f\u3001\u4e00\u822c\u7684\u306b<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC\uff08\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff09<\/a>\u3092\u4f7f\u3044\u307e\u3059\u3002<\/p>\n<h3>\u6295\u4e0b\u8cc7\u672c\u306e\u6c42\u3081\u65b9<\/h3>\n<p>\u6295\u4e0b\u8cc7\u672c\u3068\u306f\u3001\u682a\u4e3b\u304b\u3089\u306e\u8abf\u9054\u8cc7\u91d1\u3067\u3042\u308b\u682a\u4e3b\u8cc7\u672c\u3068\u3001\u50b5\u6a29\u8005\u304b\u3089\u306e\u8abf\u9054\u8cc7\u91d1\u3067\u3042\u308b\u6709\u5229\u5b50\u8ca0\u50b5\u306e\u5408\u8a08\u306e\u3053\u3068\u3067\u3001\u3059\u306a\u308f\u3061\u4f01\u696d\u6d3b\u52d5\u306e\u305f\u3081\u306b\u6295\u5165\u3055\u308c\u305f\u8cc7\u91d1\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>\u6295\u4e0b\u8cc7\u672c\u3000<\/strong><strong>\uff1d\u3000\u682a\u4e3b\u8cc7\u672c\u3000\uff0b\u3000\u6709\u5229\u5b50\u8ca0\u50b5<\/strong><\/p>\n<\/div>\n<h3>EVA\u30b9\u30d7\u30ec\u30c3\u30c9<\/h3>\n<p>EVA\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u306f\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/roic\/\">ROIC<\/a>\u3068<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC<\/a>\u306e\u5dee\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p>EVA\u306e\u8a08\u7b97\u5f0f\u3067\u3001\u4e21\u8fba\u3092\u6295\u4e0b\u8cc7\u672c\u3067\u5272\u308b\u3068\u3001EVA\u3001ROIC\u3001WACC\u306e\u95a2\u4fc2\u304c\u6b21\u306e\u3088\u3046\u306b\u660e\u3089\u304b\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>EVA\uff0f\u6295\u4e0b\u8cc7\u672c\u3000\uff1d\u3000NOPAT\uff0f\u6295\u4e0b\u8cc7\u672c\u3000\uff0d\u3000WACC<br \/>\n\uff1d\u3000ROIC\u3000\uff0d\u3000WACC<\/strong><\/p>\n<\/div>\n<p>\u3053\u306e\u3068\u304d\u306e<strong>\uff08ROIC\uff0dWACC\uff09\u3092EVA\u30b9\u30d7\u30ec\u30c3\u30c9<\/strong>\u3068\u8a00\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u6570\u5f0f\u304b\u3089\u3001EVA\uff08\u4f01\u696d\u306e\u7d4c\u6e08\u4ed8\u52a0\u4fa1\u5024\uff09\u3092\u30d7\u30e9\u30b9\u306b\u3059\u308b\u305f\u3081\u306b\u306f\u3001ROIC\u3092WACC\u3088\u308a\u9ad8\u304f\u3059\u308b\uff08EVA\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u30d7\u30e9\u30b9\u306b\u3059\u308b\uff09\u5fc5\u8981\u304c\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n<p>\u56f3\u89e3\u3059\u308b\u3068\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13236\" src=\"https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/roic003.jpg\" alt=\"ROIC\u3068WACC\u306e\u95a2\u4fc2\u3092\u56f3\u89e3\" width=\"1000\" height=\"460\" srcset=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-content\/uploads\/2018\/09\/roic003.jpg 1000w, https:\/\/www.nsspirt-cashf2.com\/ba\/wp-content\/uploads\/2018\/09\/roic003-300x138.jpg 300w, https:\/\/www.nsspirt-cashf2.com\/ba\/wp-content\/uploads\/2018\/09\/roic003-768x353.jpg 768w, https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/roic003.jpg 856w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/>\n<h3>EVA\u3092\u5897\u3084\u3059\u65b9\u6cd5<\/h3>\n<p>EVA\u306e\u5f0f\u3092\u898b\u308b\u3068EVA\u3092\u5897\u3084\u3059\u306b\u306f\u6b21\u306e4\u3064\u306e\u65b9\u6cd5\u304c\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n<ol>\n<li><strong>NOPAT\u3092\u4e0a\u3052\u308b\uff08\u58f2\u4e0a\u9ad8\u3092\u4e0a\u3052\u308b\u3001\u30b3\u30b9\u30c8\u3092\u524a\u6e1b\u3059\u308b\u306a\u3069\uff09<\/strong><\/li>\n<li><strong>\u6295\u4e0b\u8cc7\u672c\u3092\u6e1b\u3089\u3059\uff08\u4e0d\u63a1\u7b97\u8cc7\u7523\u306e\u524a\u6e1b\u306a\u3069\uff09<\/strong><\/li>\n<li><strong>WACC\u3092\u4e0b\u3052\u308b\uff08\u6700\u9069\u306a\u8cc7\u672c\u69cb\u6210\u306e\u5b9f\u73fe\u3059\u308b\u306a\u3069\uff09<\/strong><\/li>\n<li><strong>WACC\u3092\u4e0a\u56de\u308b\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306b\u6295\u8cc7\u3059\u308b<\/strong><\/li>\n<\/ol>\n<h3>EVA\u3068FCF\uff08\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff09\u306e\u95a2\u4fc2<\/h3>\n<p>EVA\u306f<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/fcf\/\">\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/a>\u3068\u5bc6\u63a5\u306a\u95a2\u4fc2\u304c\u3042\u308a\u307e\u3059\u3002\u5b9f\u969b\u306b\u4e21\u8005\u306e\u5f0f\u3092\u898b\u6bd4\u3079\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>FCF\u3000\uff1d\u3000<\/strong><\/p>\n<p><strong>NOPAT\uff08\u7a0e\u5f15\u304d\u5f8c\u5229\u76ca\uff09\uff0d\u3000\u904b\u8ee2\u8cc7\u672c\u306e\u5897\u6e1b \uff0d\u8a2d\u5099\u6295\u8cc7\u984d \uff0b \u6e1b\u4fa1\u511f\u5374\u8cbb<\/strong><\/p>\n<p><strong>EVA\u3000\uff1d<\/strong><\/p>\n<p><strong>NOPAT\uff08\u7a0e\u5f15\u304d\u5f8c\u5229\u76ca\uff09\uff0d\uff08\u6295\u4e0b\u8cc7\u672c \u00d7 WACC\uff09<\/strong><\/p>\n<\/div>\n<p>\u3053\u306e\u5f0f\u3092\u898b\u308b\u3068\u3001FCF\u304cNOPAT\u304b\u3089\u305d\u306e\u5e74\u5ea6\u306e\u6295\u4e0b\u8cc7\u672c\u3092\u5f15\u3044\u3066\u3044\u308b\u306e\u306b\u5bfe\u3057\u3001EVA\u3067\u306fNOPAT\u304b\u3089\u904e\u53bb\u306e\u6295\u4e0b\u8cc7\u672c\u3092\u5f15\u3044\u3066\u3044\u308b\u306e\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n<p>FCF\u306f\u5358\u5e74\u5ea6\u3067\u898b\u308b\u3068\u3001\u8a2d\u5099\u6295\u8cc7\u984d\u304c\u591a\u3044\u5834\u5408\u306a\u3069\u306f\u5927\u304d\u304f\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u5358\u5e74\u5ea6\u3067\u56de\u53ce\u3059\u308b\u3088\u3046\u306a\u6295\u8cc7\u6848\u4ef6\u306f\u5c11\u306a\u3044\u305f\u3081\u3001FCF\u306e\u8a55\u4fa1\u3092\u5358\u5e74\u5ea6\u3067\u884c\u3046\u3068\u5224\u65ad\u3092\u8aa4\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u3001EVA\u306f\u6295\u4e0b\u8cc7\u672c\u306e\u30b3\u30b9\u30c8\u306b\u898b\u5408\u3046\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308c\u3070\u3001\u7d4c\u6e08\u4ed8\u52a0\u4fa1\u5024\u3092\u4e0a\u3052\u3066\u3044\u308b\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001EVA\u306fFCF\u3067\u306f\u8a55\u4fa1\u3057\u306b\u304f\u3044\u5358\u5e74\u5ea6\u3067\u306e\u8a55\u4fa1\u3092\u53ef\u80fd\u306b\u3057\u305f\u6307\u6a19\u3068\u3044\u3048\u307e\u3059\u3002<\/p>\n<h3>EVA\u306e\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8<\/h3>\n<p>EVA\u306b\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li>\u682a\u4e3b\u4fa1\u5024\u3068\u306e\u9023\u52d5\u6027\u306e\u9ad8\u3044\u6307\u6a19\u3067\u3042\u308b\u3002<\/li>\n<li>\u6210\u719f\u3057\u305f\u4f01\u696d\u304c\u7d4c\u55b6\u52b9\u7387\u306e\u6539\u5584\u3092\u56f3\u308b\u306e\u306b\u9069\u3057\u3066\u3044\u308b\u3002<\/li>\n<\/ul>\n<p><strong>\u30c7\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li>NOPAT\u306b\u542b\u307e\u308c\u3066\u3044\u308b\u6e1b\u4fa1\u511f\u5374\u8cbb\u306e\u511f\u5374\u65b9\u6cd5\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b\u3002<\/li>\n<li>\u5229\u76ca\u3084\u6295\u8cc7\u984d\u304c\u5b89\u5b9a\u3057\u306a\u3044\u4f01\u696d\u306e\u8a55\u4fa1\u306b\u306f\u5411\u304b\u306a\u3044\u3002<\/li>\n<\/ul>\n<\/div>\n<h2>MVA\u3068\u306f<\/h2>\n<p>MVA\u3068\u306f\u4f01\u696d\u306e\u5e02\u5834\u4fa1\u5024\u306e\u5897\u52a0\u3092\u8868\u3059\u6307\u6a19\u3067\u3059\u3002MVA\u306f\u65e5\u672c\u8a9e\u3067\u306f\u5e02\u5834\u4ed8\u52a0\u4fa1\u5024\u3068\u547c\u3073\u307e\u3059MVA\u306f\u6b21\u306e\u3088\u3046\u306b\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>MVA\u3000\uff1d\u3000\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\u3000\uff0d\u3000\u682a\u4e3b\u8cc7\u672c\u91d1\u984d\uff08\u7c3f\u4fa1\uff09<\/strong><\/p>\n<\/div>\n<p>MVA\u304c\u5927\u304d\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u4f01\u696d\u304c\u682a\u4e3b\u304b\u3089\u9810\u304b\u3063\u3066\u3044\u308b\u8cc7\u91d1\u3092\u52b9\u7387\u3088\u304f\u904b\u7528\u3057\u3066\u3001\u4ed8\u52a0\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>MVA\u306f\u3001\u5c06\u6765\u671f\u5f85\u3055\u308c\u308bEVA\u306e\u73fe\u5728\u4fa1\u5024\u5408\u8a08\u3068\u8003\u3048\u3089\u308c\u308b\u306e\u3067\u3001EVA\u3092\u9577\u671f\u7684\u306b\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u304c\u3001MVA\u306e\u4e0a\u6607\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n<h3>MVA\u3068PBR\u306e\u95a2\u4fc2<\/h3>\n<p><a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/pbr\/\">PBR<\/a>\u306f\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u305b\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>PBR\u3000\uff1d\u3000\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\uff0f\u682a\u4e3b\u8cc7\u672c\uff08\u7c3f\u4fa1\uff09<\/strong><\/p>\n<\/div>\n<p>MVA\u3092\u4f7f\u3063\u3066\u3001PBR\u3092\u8868\u3059\u3068\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box3\">\n<p><strong>PBR<\/strong><\/p>\n<p><strong>\uff1d\u3000\uff08\u682a\u4e3b\u8cc7\u672c\u7c3f\u4fa1\u3000\uff0b\u3000MVA\uff09\uff0f\u682a\u4e3b\u8cc7\u672c\u7c3f\u4fa1<\/strong><\/p>\n<p><strong>\uff1d\u30001\u3000\uff0b\u3000\uff08MVA\uff0f\u682a\u4e3b\u8cc7\u672c\u7c3f\u4fa1\uff09<\/strong><\/p>\n<p><strong>\uff1d\u30001\u3000\uff0b\u3000\uff08EVA\u306e\u73fe\u5728\u4fa1\u5024\u7d2f\u8a08\uff0f\u682a\u4e3b\u8cc7\u672c\u7c3f\u4fa1\uff09<\/strong><\/p>\n<\/div>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001PBR\u306f\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u4fa1\u5024\u306b\u6bd4\u4f8b\u3057\u3066\u9ad8\u304f\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div id=\"nsspi-3797075363\" class=\"nsspi-h2-4 nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"6457306725\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div id=\"nsspi-1424750857\" class=\"nsspi-h2-2 nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"6457306725\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2>\u307e\u3068\u3081<\/h2>\n<p>\u4ee5\u4e0a\u304cEVA\u3001MVA\u306e\u89e3\u8aac\u3067\u3057\u305f\u3002<\/p>\n<p>\u203bEVA\u3001MVA\u306f\u3068\u3082\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u4f1a\u793e\u300c\u30b9\u30bf\u30fc\u30f3\u30fb\u30b9\u30c1\u30e5\u30ef\u30fc\u30c8\u793e\u300d\u306e\u767b\u9332\u5546\u6a19\u3067\u3059\u3002EVA\u306b\u306f\u30a8\u30b3\u30ce\u30df\u30c3\u30af\u30fb\u30d7\u30ed\u30d5\u30a3\u30c3\u30c8\u3068\u3044\u3046\u547c\u3073\u65b9\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"concept-box1\">\n<ul>\n<li>EVA\u3068\u306f\u3001\u4f01\u696d\u304c\u3069\u308c\u3060\u3051\u7d4c\u6e08\u7684\u4ed8\u52a0\u4fa1\u5024\u3092\u5275\u51fa\u3057\u305f\u304b\u3092\u8868\u3059\u6307\u6a19\u3067\u3042\u308b\u3002<\/li>\n<li>EVA\u306f\u3001\u7a0e\u5f15\u5f8c\u5229\u76ca\uff08NOPAT\uff09\u30fc\u6295\u4e0b\u8cc7\u672c\u2715\u8cc7\u672c\u30b3\u30b9\u30c8\u3067\u8a08\u7b97\u3067\u304d\u308b<\/li>\n<li>EVA\u3092\u5897\u3084\u3059\u306b\u306f\u3001NOPAT\u3092\u4e0a\u3052\u308b\u3001\u6295\u4e0b\u8cc7\u672c\u3092\u6e1b\u3089\u3059\u3001WACC\u3092\u4e0b\u3052\u308b\u3001WACC\u3092\u4e0a\u56de\u308b\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306b\u6295\u8cc7\u3092\u3059\u308b\u3068\u3044\u30464\u3064\u306e\u65b9\u6cd5\u304c\u3042\u308b\u3002<\/li>\n<li>MVA\u3068\u306f\u3001\u5e02\u5834\u4ed8\u52a0\u4fa1\u5024\u3092\u793a\u3059\u6307\u6a19\u3067\u3042\u308b\u3002<\/li>\n<li>MVA\u3068PBR\u306e\u95a2\u4fc2\u3092\u6574\u7406\u3059\u308b\u3068\u3001PBR\u304c1\u3092\u8d85\u3048\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001MVA\u304c\u30d7\u30e9\u30b9\u3067\u3042\u308b\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u3053\u3068\u304c\u308f\u304b\u308b<\/li>\n<\/ul>\n<\/div>\n<p><a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/finance-index\/\"><strong>\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u77e5\u8b58\u306e\u7fd2\u5f97\u306b\u5f79\u7acb\u3064\u8a18\u4e8b\u306f\u3053\u3061\u3089\uff1e\uff1e\uff1e<\/strong><\/a><\/p>\n<p><strong>\u8ca1\u52d9\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3092\u3082\u3063\u3068\u77e5\u308b\u306b\u306f<\/strong><\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/books-for-finance\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30b9\u30bf\u30f3\u30fb\u30b9\u30c1\u30e5\u30ef\u30fc\u30c8\u793e\u304c\u958b\u767a\u3057\u305f\u6295\u8cc7\u5c3a\u5ea6\u3067\u3042\u308bEVA\u3068MVA\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002 EVA\u3068\u306f EVA\u3068\u306f\u4f01\u696d\u304c\u3069\u308c\u3060\u3051\u7d4c\u6e08\u7684\u4ed8\u52a0\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3057\u305f\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002 EVA\u306e\u4e00\u822c\u540d\u79f0\u306f\u30a8\u30b3\u30ce\u30df<\/p>\n","protected":false},"author":1,"featured_media":1171,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts\/173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/comments?post=173"}],"version-history":[{"count":0,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts\/173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media\/1171"}],"wp:attachment":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media?parent=173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/categories?post=173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/tags?post=173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}