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[null,"Fundamentale Analyse"]
[]
[null,"Geben Sie die Zahlen in die gelb markierten Felder ein"]
[]
[null,null,"Datum der Analyse","2009-05-15"]
[]
[null,null,"Aktuelle Kennwerte der Aktie",null,null,null,"Fünfjahres-Durchschnitte",null,null,null,null,null,null,"Begriffe:"]
[null,null,"Firma:","VCA Antech",null,null,null,null,"EK-Rendite",{"$f":"AVERAGE($K$25:$K$29)","v":{"$error":"#DIV/0!"}}]
[null,null,"Ticker:","WOOF",null,null,null,null,"Ausschüttungsquote",{"$f":"AVERAGE($L$25:$L$29)","v":{"$error":"#DIV/0!"}},null,null,null,"GPA","= Gewinn pro Aktie",null," "]
[null,null,"Kurs:",0,null,null,null,null,"KGV Hoch",{"$f":"AVERAGE($I$25:$I$29)","v":{"$error":"#DIV/0!"}},null,null,null,"DPA","= Dividende pro Aktie",null," "]
[null,null,"GPA",0,null,null,null,null,"KGV Tief",{"$f":"AVERAGE($J$25:$J$29)","v":{"$error":"#DIV/0!"}},null,null,null,"BWPA","= Buchwert pro Aktie",null," "]
[null,null,"DPA",0,null,null,null,null,"KGV",{"$f":"AVERAGE($J$10:$J$11)","v":{"$error":"#DIV/0!"}},null,null,null,"KGV","= Kurs-Gewinn Verhältnis"]
[null,null,"BWPA",0,null,null,null,null,"Nachhaltige Wachstumsrate",{"$f":"$J$8*(1-$J$9)","v":{"$error":"#DIV/0!"}},null,null,null,"EKR","= Eigenkapitalrendite"]
[null,null,"KGV",{"$f":"$D$10/$D$11","v":{"$error":"#DIV/0!"}},null,null,null,null,"(EKR * (1 - Aussch.quote))"]
[null,null,"Gewinn-Rendite",{"$f":"$D$11/$D$10","v":{"$error":"#DIV/0!"}}]
[null,null,"Dividenden-Rendite",{"$f":"$D$12/$D$10","v":{"$error":"#DIV/0!"}}]
[null,null,"P/BW",{"$f":"$D$10/$D$13","v":{"$error":"#DIV/0!"}}]
[]
[null,null,"Rendite Bundesanleihen",1.4999999999999999E-2]
[]
[null,"Historische Unternehmenskennzahlen"]
[null,null,null,null,null,"Preis",null,null,"KGV",null,null,"Ausschüttungs"]
[null,"Jahr","GPA","DPA","BWPA","Hoch","Tief",null,"Hoch","Tief","EKR","Quote"]
[null,"Jahr 6",0,0,0,0,0,null,{"$f":"F24/$C24","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$f":"C24/E24","v":{"$error":"#DIV/0!"}},{"$f":"D24/C24","v":{"$error":"#DIV/0!"}}]
[null,"Jahr 5",0,0,0,0,0,null,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 4",0,0,0,0,0,null,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 3",0,0,0,0,0,null,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 2",0,0,0,0,0,null,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 1",0,0,0,0,0,null,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[null,null,null,null,null,"Preis"]
[null,null,"GPA","DPA","BWPA","Hoch","Tief"]
[]
[null,"Jährliche Wachstumsraten (5 Jahre)",null,null,null,null,null,null,"[(Jahr 1 / Jahr 6) ^ (1/5)] - 1"]
[null,null,{"$f":"(C29/C24)^(1/5)-1","v":{"$error":"#DIV/0!"}},{"$f":"(D29/D24)^(1/5)-1","v":{"$error":"#DIV/0!"}},{"$f":"(E29/E24)^(1/5)-1","v":{"$error":"#DIV/0!"}},{"$f":"(F29/F24)^(1/5)-1","v":{"$error":"#DIV/0!"}},{"$f":"(G29/G24)^(1/5)-1","v":{"$error":"#DIV/0!"}}]
[]
[null,"Jährliche Wachstumsraten (3 Jahre)",null,null,null,null,null,null,"[(Jahr 1 / Jahr 4) ^ (1/3)] - 1"]
[null,null,{"$f":"(C29/C26)^(1/3)-1","v":{"$error":"#DIV/0!"}},{"$f":"(D29/D26)^(1/3)-1","v":{"$error":"#DIV/0!"}},{"$f":"(E29/E26)^(1/3)-1","v":{"$error":"#DIV/0!"}},{"$f":"(F29/F26)^(1/3)-1","v":{"$error":"#DIV/0!"}},{"$f":"(G29/G26)^(1/3)-1","v":{"$error":"#DIV/0!"}}]
[]
[]
[null,"Projizierte Unternehmenskennzahlen basierend auf historischen Wachstumsraten"]
[]
[null,"Jahr","GPA","DPA"]
[null,"Heute",{"$f":"$D$11","v":0},{"$f":"C44*$J$9","v":{"$error":"#DIV/0!"}},null,null,{"$f":"$C$54","v":{"$error":"#DIV/0!"}},"Firmen-Gewinn nach 10 Jahren"]
[null,"Jahr 1",{"$f":"C44*(1+$C$35)","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},null,null,{"$f":"SUM($D$44:$D$54)","v":{"$error":"#DIV/0!"}},"Summe aller über 10 Jahre gezahlten Dividenden"]
[null,"Jahr 2",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 3",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,{"$f":"$J$12*$G$44","v":{"$error":"#DIV/0!"}},"Projizierter Preis (Durchschn. KGV * GPA)"]
[null,"Jahr 4",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,{"$f":"$G$47+$G$45","v":{"$error":"#DIV/0!"}},"Wert Total  (Projizierter Preis + Dividenden)"]
[null,"Jahr 5",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 6",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,{"$f":"$G$48-$D$10","v":{"$error":"#DIV/0!"}},"Gewinn der Investition (Projizierter Preis + Dividenden - Preis heute)"]
[null,"Jahr 7",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,{"$f":"($G$48/$D$10)^0.1-1","v":{"$error":"#DIV/0!"}},"Projizierte Jahresrendite basierend auf historischem GPA-Wachstum"]
[null,"Jahr 8",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,null,"[(Wert Total / Preis heute) ^ (1/10)] - 1"]
[null,"Jahr 9",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 10",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[]
[null,"Projizierte Unternehmenskennzahlen basierend auf nachhaltiger Wachstumsrate"]
[]
[null,"Jahr","BWPA","GPA","DPA"]
[null,"Heute",{"$f":"$D$13","v":0},{"$f":"$D$11","v":0},{"$f":"D60*$J$9","v":{"$error":"#DIV/0!"}},null,{"$f":"$D$70","v":{"$error":"#DIV/0!"}},"Firmen-Gewinn nach 10 Jahren (BWPA * EKR)"]
[null,"Jahr 1",{"$f":"C60+D60-E60","v":{"$error":"#DIV/0!"}},{"$f":"C61*$J$8","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},null,{"$f":"SUM($E$60:$E$70)","v":{"$error":"#DIV/0!"}},"Summe aller über 10 Jahre gezahlten Dividenden"]
[null,"Jahr 2",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 3",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,{"$f":"$J$12*$G$60","v":{"$error":"#DIV/0!"}},"Projizierter Preis (Durchschn. KGV * GPA)"]
[null,"Jahr 4",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,{"$f":"$G$63+$G$61","v":{"$error":"#DIV/0!"}},"Wert Total (Projizierter Preis + Dividenden)"]
[null,"Jahr 5",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 6",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,{"$f":"G64-D10","v":{"$error":"#DIV/0!"}},"Gewinn der Investition (Projizierter Preis + Dividenden - Preis heute)"]
[null,"Jahr 7",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,{"$f":"($G$64/$D$10)^0.1-1","v":{"$error":"#DIV/0!"}},"Projizierte Jahresrendite basierend auf nachhaltiger Wachstumsrate"]
[null,"Jahr 8",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},null,null,"[(Wert Total) / Preis heute) ^ (1/10)] - 1"]
[null,"Jahr 9",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,"Jahr 10",{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]

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["Aktienbewertung"]
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[]
[]
[" ",null,null,null,null,"Gewinn pro Aktie"]
[null,null,null,null,null,"year 0","year 1","year 2","year 3","year 4","year 5","year 6","year 7","year 8","year 9","year 10","onwards (yearly)"]
["Aktueller Gewinn pro Aktie",null,null,1,null,{"$f":"+D8","v":1},{"$f":"$F$8*(1+$D$10/100)^1","v":1},{"$f":"$F$8*(1+$D$10/100)^2","v":1},{"$f":"$F$8*(1+$D$10/100)^3","v":1},{"$f":"$I$8*(1+$D$12/100)^1","v":1},{"$f":"$I$8*(1+$D$12/100)^2","v":1},{"$f":"$K$8*(1+$D$14/100)^1","v":1},{"$f":"$K$8*(1+$D$14/100)^2","v":1},{"$f":"$K$8*(1+$D$14/100)^3","v":1},{"$f":"$K$8*(1+$D$14/100)^4","v":1},{"$f":"$K$8*(1+$D$14/100)^5","v":1},{"$f":"+P8","v":1}]
[null,null,null,null,null,"Nettobarwert (NPV) pro Aktie"]
["Erwartete Wachstumsrate Jahre 1-3 in %",null,null,0,null,"year 0","year 1","year 2","year 3","year 4","year 5","year 6","year 7","year 8","year 9","year 10","npv onwards"]
[null,null,null,null,null,{"$f":"+D8","v":1},{"$f":"+G8/(1+$D$16/100)^1","v":0.92592592592592582},{"$f":"+H8/(1+$D$16/100)^2","v":0.85733882030178321},{"$f":"+I8/(1+$D$16/100)^3","v":0.79383224102016958},{"$f":"+J8/(1+$D$16/100)^4","v":0.73502985279645328},{"$f":"+K8/(1+$D$16/100)^5","v":0.68058319703375303},{"$f":"+L8/(1+$D$16/100)^6","v":0.63016962688310452},{"$f":"+M8/(1+$D$16/100)^7","v":0.58349039526213387},{"$f":"+N8/(1+$D$16/100)^8","v":0.54026888450197574},{"$f":"+O8/(1+$D$16/100)^9","v":0.50024896713145905},{"$f":"+P8/(1+$D$16/100)^10","v":0.46319348808468425},{"$f":"+Q8/(D16/100)/(1+D16/100)^11","v":5.3610357417208823}]
["Erwartete Wachstumsrate Jahre 4-5 in %",null,null,0]
[]
["Erwartete Wachstumsrate Jahre 6-10 in %",null,null,0]
[]
["Risikoadjustierter Eigenkapitalkostensatz in %",null,null,8]
[null,null,null," "]
["Theoretischer Preis der Aktie",null,null,{"$f":"SUM(F11:Q11)","v":13.071117140662324}]
[]
["Aktueller Kurs der Aktie",null,null,30]
[]
["Aktuelle theoretische Überbewertung (-) resp."]
["Unterbewertung (+)",null,null,{"$f":"D18-D20","v":-16.928882859337676}]
[]
["Anzahl Aktien (optionale Eingabe)",null,null,0]
[]
["Aktueller Gewinn des Unternehmens",null,null,{"$f":"D25*D8","v":0}]
[" "]
["KGV theoretisch",null,null,{"$f":"D18/D8","v":13.071117140662324}]
[]
["KGV aktuell",null,null,{"$f":"D20/D8","v":30},"  "," "]