Talousarvoosuuskunta
Talousarvoosuuskunta, also known as economic value added (EVA), is a financial metric used to measure the profitability of a company or a business unit. It is calculated by subtracting the cost of capital from the operating profit of the company. The cost of capital represents the required return on investment for the company, taking into account the risk and time value of money. EVA provides a more accurate measure of a company's profitability than traditional metrics such as net income or earnings per share, as it accounts for the cost of capital and the time value of money.
EVA was first introduced by Robert S. Kaplan and David P. Norton in their 1992 book "The
Talousarvoosuuskunta can be calculated using the following formula:
EVA = Operating Profit - (Capital Expenditure + Change in Net Working Capital + Depreciation) x (1 - Tax Rate) - (Capital
* Operating Profit is the profit generated from the company's core operations.
* Capital Expenditure is the amount of money spent on long-term assets such as property, plant, and
* Change in Net Working Capital is the difference between the current assets and current liabilities at
* Depreciation is the allocation of the cost of a long-term asset over its useful life.
* Tax Rate is the effective tax rate paid by the company.
* Cost of Capital is the required return on investment for the company, taking into account the
Talousarvoosuuskunta is a useful tool for managers and investors to assess the true profitability of a