Iyo yakajeka mutemo wevemabhizinesi unobatsira vanoisa mari kubvisa rusaruro mukusarudza kwevadyidzani. Makambani anoshandisa purofiti zvichienderana nezvinangwa. Vanoisa mari mukusimudzira, nekugadzirisa mari yenguva dzose.
Chii chinonzi CAPEX – mumashoko akareruka nezve yakaoma
Capital expenditure (CAPEX) ndiyo inoshandiswa mari yekambani ine chinangwa chekutenga zvinhu zvisiri zvemazuva ano zvinoshanda kweinopfuura gore. Mari yenguva refu inopa kutorwa kwezvinhu zvakagadziriswa. Mhedzisiro yekudyara kwebhizinesi kuita purofiti kana uchidyara mumaindasitiri ane capital-intensive. Aya ndiwo mafuta uye gasi, simba, zvikamu zvemigodhi, metallurgy. Kune zvakare mari yebasa-inorema, iyo inosanganisira kushandisa mari pamabasa, zvinhu zvekutengesa. Iyo huru vhoriyamu yekudyara iri mune zvigadzirwa zvinotengeswa. Investment munzira yekugadzira, yavo yemazuva ano, inofanirwa kuchengetedza chinangwa chekubatsira, kuverengerwa ramangwana.
Zvisiri-zvino zviwanikwa zvakakamurwa kuita marudzi maviri: midziyo yakatarwa uye midziyo isingabatike (IA). Izvo zvinhu zvehungwaru chiitiko chebhizinesi chinogona kuve nehukoshi hunounza purofiti mune ramangwana. Zvirongwa, dhatabhesi, zviratidzo zvinosanganisira mari yenguva nenguva. CAPEX inogadzira purofiti nekuwedzera kukosha kwekuwedzera zviitiko, kuwedzera mutengo, kukwezva vatengesi vatsva.
CAPEX uye OPEX – chii mutsauko
Kusiyana nekushandiswa kwemari, OPEX ndiyo mutengo wekumhanyisa mashandiro. Mari yekushandisa inoenderana nemutengo wezvinhu, zvekutonga, zvekutengesa zvinodiwa zvebhizinesi. Kukosha kweOPEX kukambani kunowanzo zivikanwa, kunotemerwa nekudiwa kwenguva yekubika. Kushanda kusingapindiki kwebhizinesi kunogoneka nekuronga yunifomu yemari yekushandisa, iyo inonyorwa kunze kweiyo depreciation sequentially, mushure mekuita capitalization pabalance sheet. Sangano rinobhadhara rendi yezvivakwa, kuendesa, zvinoshandiswa. Vashandi vanotambira mihoro. Mari inoenda kucashier, kuaccount yazvino semari. Profit inodzikira kana OPEX yakawedzera. Nyanzvi munyaya dzezvehupfumi dzekambani iyi dzinoedza kuderedza mari yekushandisa kuitira kuti purofiti iwedzere.
Mhando yezviitwa zvebhizinesi, iyo yenguva refu hunhu hwemapurojekiti inokanganisa chiyero cheCAPEX neOPEX. Vatungamiri vebhizinesi vanoita sarudzo dzekudyara zvichibva pakusimudzira kumberi. Semuenzaniso, kutorwa kwezvivakwa munzvimbo yacho kunogona kutariswa nenzira mbiri, zvichienderana nebasa rekambani mune ramangwana. Kambani diki inobatsirikana zvakanyanya kubva mukurenda. Bhizinesi guru rinofarira kukwezva vatengesi richatenga chivakwa kuitira kuderedza mari yemangwana, pamwe nekukwanisa kutengesa nzvimbo yacho nemutengo wekutengesa. Kuchinja kwegore negore kuchakurumidza kuvhara mari inoshandiswa. Iyo kambani ichabatsirwa nekusarudza kuwedzera CAPEX nekudzikisa mari yekushandisa. Misiyano pakati peCAPEX neOPEX ndeiyi inotevera:
- Kuwanda kwemari . Capital investments inosanganisira mari yakawanda.
- Payment frequency . Mari yekushanda inoitwa nguva dzose, mari inosvika makore mashoma kana pagore.
- Kurevera kunoitwa pazvikamu zvakasiyana zvebalance sheet . OPEX inoratidzwa mukubhadhara kwekushanda, CAPEX iri muchikamu chemari.
- Nzvimbo dzakasiyana-siyana dzemari . CAPEX neOPEX zvinotora mari kubva kumari kana mari, zvichiteerana.
Zvakakosha kuti muzvinabhizimisi akazvimiririra azive zviratidzo zvemari iri kutariswa kuitira kuti averenge chiyero cheukoshi hwezvinhu kune purofiti yekambani.
Sei zvakakosha kuti investor afunge nezveCAPEX
CAPEX inogona kupa ruzivo kune vanoisa mari nezve hurongwa hwekudyara mari, kuwanikwa kwemari yemahara iyo kambani inoda kushandisa mukuvandudza kugadzirwa. Iyo kambani inogovera purofiti nekubhadhara mibairo kana nekupa mari yekutora midziyo yakatarwa. Kuwedzera kwemari inoshandiswa kunoderedza nguva dzose, kunoderedza kukosha kwezvikamu. Saizvozvo, vatengesi vanoongorora mapotifolio avo. Cherechedza! CAPEX yakanangana nekusimudzira bhizinesi, kuwedzera purofiti mune ramangwana. Kuderera kwezvikamu kunoitika kuitira kuti uwane purofiti yakakura mune ramangwana. Negatively-refu-investimenti inotariswa kana paine kusava nechokwadi pamusoro pezvakanakira, pane njodzi yekurasikirwa nemari. Semuenzaniso, nekudzoka pamari ye15%, hazvina musoro kuisa mari mumapurojekiti asina mari. Zviito zvakadaro zvinotungamira kudzokororwa nevaisiri vezvirongwa zvavo, yakanangana nekuwana migove. Vemari vanofarira kuwedzera kushanda kwekambani yavanoshandira pamwe nayo. Maonero avo anogona kusapindirana nehutungamiriri hwekambani kana paine kusawirirana pane ramangwana rekusimudzira indasitiri. CAPEX inodiwa kuti mabhizinesi asimudzire michina, kuchengetedza huwandu hwekugadzira. Kana iwe ukasavakazve zvakagadziriswa midziyo, ipapo pane kuderera kwezviwanikwa, kuderera kwekugadzirwa mune ramangwana. Naizvozvo, zvakakosha kuchengetedza chiyero pakati peCAPEX neOPEX. Chii chinonzi CAPEX uye OPEX mumashoko akareruka, fomula uye kuverenga, tsananguro nemazwi akareruka: https://youtu.be/cPwlp3-NHZI kana paine kusawirirana pane ramangwana rekusimudzira indasitiri. CAPEX inodiwa kuti mabhizinesi asimudzire michina, kuchengetedza huwandu hwekugadzira. Kana iwe ukasavakazve zvakagadziriswa midziyo, ipapo pane kuderera kwezviwanikwa, kuderera kwekugadzirwa mune ramangwana. Naizvozvo, zvakakosha kuchengetedza chiyero pakati peCAPEX neOPEX. Chii chinonzi CAPEX uye OPEX mumashoko akareruka, fomula uye kuverenga, tsananguro nemazwi akareruka: https://youtu.be/cPwlp3-NHZI kana paine kusawirirana pane ramangwana rekusimudzira indasitiri. CAPEX inodiwa kuti mabhizinesi asimudzire michina, kuchengetedza huwandu hwekugadzira. Kana iwe ukasavakazve zvakagadziriswa midziyo, ipapo pane kuderera kwezviwanikwa, kuderera kwekugadzirwa mune ramangwana. Naizvozvo, zvakakosha kuchengetedza chiyero pakati peCAPEX neOPEX. Chii chinonzi CAPEX uye OPEX mumashoko akareruka, fomula uye kuverenga, tsananguro nemazwi akareruka: https://youtu.be/cPwlp3-NHZI
CAPEX kana OPEX, chii chekutaura kune – muenzaniso
Makambani mazhinji anofarira kurenda nzvimbo yehofisi. Hadzisi dzese nzvimbo dzekurenda dzinosangana nezvinodiwa nekambani. Mamaneja anoita sarudzo nezve kuvandudzwa, chirongwa cheshanduko chiri kugadzirwa. Ngatitarisei muenzaniso wekudyara kwebhizinesi diki rekugadzira rinogadzira chikafu chekuwedzera. Kuwedzera kweNeovit kwaida kuwedzera kwevashandi. Huwandu hweakaunzi hwawedzera. Kuti ive nechokwadi chebasa remhando yevashandi, zvaive zvakafanira kuisa mamwe magonhi uye zvikamu. Mushure mekupera kwenguva yekurenda, kubvisa hazvizogoneki. Mubvunzo unomuka maitiro ekufunga nezvemitengo yebhizinesi, kupi kuratidza mitengo. Funga kutevedzera zvinodiwa neIAS 16 kuti uone kana mitengo yacho ichinzi ndeyeCAPEX.
Parameters yenzira huru yekugadzira | Chinhu chekudzidza ndechekuvandudzwa kwehofisi yeakaunzi panzvimbo inorendwa | Kutevedzwa neyakagadziriswa asset maitiro |
1. Chinangwa chenzvimbo | Hofisi inodiwa pabasa reakaunzi | Ehe |
2. Nguva yekushandiswa | Nguva yese yekurenda yemakore gumi. | Ehe. |
3. Kutorwa kwemabhenefiti ebhizinesi | Kubatsira kwehupfumi kwepamusoro kunobatanidzwa nekuwedzera kwekushanda kwenzvimbo yebasa rekuwedzera kwekuumbwa kwedhipatimendi re accounting | Ehe. |
4. Inofungidzirwa mutengo wechinhu. | Mari ye1 miriyoni rubles inoruramiswa kubva pakuona kwehupfumi, yakasimbiswa. | Ehe. |
Neovit inogona kuronga mitengo pasi peCAPEX sezvo ichizadzikisa zvinodiwa neIAS 16. Mutengo wekuvaka madziro ekuganhura nekutenga nekuisa magonhi unotsanangurwa semuripo wekugadzirisa chivako, chirimwa nemidziyo. Iyo IFRS cash flow statement inoratidza iyo kambani CAPEX. Funga nezvechikamu chebasa rekudyara nemashandisirwo emari, akakamurwa kuita midziyo yakatarwa uye midziyo isingabatike nemakore. Mari idzi dziri mumamiriyoni emadhora ekuAmerica.
Mabasa ekudyara | 2018 | 2017 | 2016 |
Kutengwa kwezvinhu zvakagadziriswa | 653 | 560 | 494 |
Kutengwa kwezvinhu zvisingabatike | 35 | 31 | 31 |
Kuwanikwa kwekudyara | 23 | 137 | 227 |
Kutengeswa kwemapazi | – | 42 | 3 |
Kuwana pakurasa zvinhu zvenguva refu | gumi neshanu | gumi neshanu | 7 |
Mari inobva pakuraswa kwemari | 210 | 36 | gumi nesere |
Kufarira | 16 | 54 | 61 |
Dividends | ina | Poshi | – |
Dzokera pakudyara | 466 | 580 | 663 |
Chinangwa chikuru chebhizimusi rekuita purofiti. Mutengo weCAPEX neOPEX unofanirwa kuitwa nenzira yekudzora mumwe nemumwe, usingabvumiri mhedzisiro yakaipa yemari mubasa rebhizinesi.