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Best-Practice EVA
The Definitive Guide to Measuring and Maximizing Shareholder Value
Bennett Stewart
- English
- ePUB (adapté aux mobiles)
- Disponible sur iOS et Android
Best-Practice EVA
The Definitive Guide to Measuring and Maximizing Shareholder Value
Bennett Stewart
Ă propos de ce livre
Best-Practice EVA tells the new EVA story from the ground up. Stewart covers EVA essentialsâthe classic economic profit version of EVAâin the first three chapters of the book. He shows readers how simple and intuitive EVA really is, how it is defined, and why it is better than all other measures of corporate profit. You discover how it naturally guides managers into making all the right decisionsâthe ones that will truly maximize value. You see how to use it in profit-sharing bonus plans that create the powerful incentives of an owner. Later, Stewart introduces new ratios that make EVA much more powerful and much easier to use than ever before. The pinnacle of the new ratio framework is EVA Momentum, calculated by taking the change in EVA versus the prior period, and dividing by the revenues in the prior period. It measures the growth rate in EVA, scaled to the sales size of the business. It is the only corporate performance ratio where bigger always is better, because it gets bigger when EVA does, which means it should be every company's most important financial goal, the one ratio metric that everyone aims to maximize as the key measure of corporate success. Stewart then walks through the nuts and bolts of Best-Practice EVA, kicking off with an in-depth look at EVA Margin, or EVA as a percent of sales. It's a key productivity metric, and Stewart's candidate to replace ROI. The last link in the Best-Practice program is PRVitâthe EVA market score report. Stewart shows how to read and interpret the report, how the score is determined, and why investors are turning to it to screen and rate stocks. He also shows why it is finding a home with CFOs and IR directors who want insights into how the market is pricing their stock. The book concludes with battle-tested tips from the firing line, practical suggestions for how you can test drive and adopt Best-Practice EVA at your company.
Foire aux questions
Informations
Table des matiĂšres
- Cover
- Praise
- Series
- Title Page
- Copyright
- Dedication
- Preface
- Chapter 1: EVA 101
- Chapter 2: EVA and Value
- Chapter 3: Accounting for Value
- Chapter 4: Whatâs Wrong with RONA?
- Chapter 5: The New EVA Ratio Metrics
- Chapter 6: EVA Margin
- Chapter 7: Setting EVA Targets
- Chapter 8: Put Momentum into Planning
- Chapter 9: Dividing Multiples into Good and Bad
- Chapter 10: Put EVA into Capital Decisions and Acquisitions
- Chapter 11: EVA and the Buy Side
- Chapter 12: Become a Best-Practice EVA Company
- Appendix A: The Best-Practice EVA Software Toolkit
- Appendix B: Corrective Accounting Adjustments
- Appendix C: Accounting for Corporate Charges in Detail
- Glossary
- About the Author
- Index
- Bonus Material