Definiciones

Conceptos contables

Goodwill

is an intangible asset that accounts for the excess purchase price of another company (sobrecoste intangible)

includes proprietary or intellectual property, brand recognition, and other aspects of a company that are valuable but not easily quantifiable such as loyal customer base, solid customer service, good employee relations.

represents a value that can give the acquiring company a competitive advantage. It’s one of the reasons that one company may pay a premium for another.

It’s calculated by taking the purchase price of a company and subtracting the difference between the fair market value of the assets and liabilities

has an indefinite life. Most other intangible assets have a finite useful life

Multiplos y ratios

ROCE (Return on capital employed)

Se calcula como –> EBIT / Capital empleado. El capital empleado puede incluir o no el goodwill.

This measure is considered useful as it provides insights into our ability to generate returns from the total amount of capital invested in our operations and it also helps in assessing our operational efficiency and capital allocation decisions.

Earnings before interest and taxes (“EBIT”) represents net earnings plus income taxes and net financial expenses.

Capital employed represents total assets less short-term liabilities not bearing interest, which excludes the short- term debt and current portion of long-term debt and current portion of lease liabilities