商业地产项目财务测算

1.002.00序号项目\年份共计（万元）Y1Y2Y31.00现金流入销售收入4 6 9 9 5 5 .5 60 .0 07 2 4 5 0 .0 07 8 9 6 0 .0 0小计4 6 9 9 5 5 .5 60 .0 07 2 4 5 0 .0 07 8 9 6 0 .0 02.00现金流出0 .0 0开发成本3 4 2 2 5 9 .3 26 6 9 8 5 .3 15 6 2 7 6 .7 84 3 8 1 2 .8 6营业税及附加、土地增值税2 1 5 8 2 .0 00 .0 05 9 7 7 .1 36 5 1 4 .2 0所得税2 2 2 3 1 .2 30 .0 02 7 1 6 .8 82 9 6 1 .0 0小计4 0 3 2 6 1 .8 86 6 9 8 5 .3 16 4 9 7 0 .7 85 3 2 8 8 .0 63.00净现金流量(6 6 9 8 5 .3 1 )7 4 7 9 .2 22 5 6 7 1 .9 44.00累计净现金流量(6 6 9 8 5 .3 1 )(5 9 5 0 6 .0 8 )(3 3 8 3 4 .1 4 )5.00折现净现金流量(6 6 9 8 5 .3 1 )6 7 9 9 .2 92 1 2 1 6 .4 86.00累计折现净现金流量(6 6 9 8 5 .3 1 )(6 0 1 8 6 .0 1 )(3 8 9 6 9 .5 3 )7.00财务内部收益率(IRR):8.00财务净现值(NPV @10%):9.00投资回收期(PBP):10.0%项目变化范围内部收益率财务净现值+15%37.98%63440+10%32.65%51358+5%27.28%39277021.90%27195-5%16.55%15113-10%11.29%3032现金流量表销售价格敏感性分析-15%6.22%(9050)+15%21.63%26607+10%21.72%26803+5%21.81%26999021.90%27195-5%21.99%27391-10%22.08%27587-15%22.17%27782建安费3.004.005.006.007.00Y4Y5Y6Y7Y81 1 0 1 9 0 .0 07 5 8 6 6 .6 74 8 8 0 0 .0 02 5 2 4 4 .4 45 8 4 4 4 .4 41 1 0 1 9 0 .0 07 5 8 6 6 .6 74 8 8 0 0 .0 02 5 2 4 4 .4 45 8 4 4 4 .4 44 7 6 9 8 .0 03 7 9 3 0 .1 85 9 4 5 6 .6 52 7 5 4 8 .8 32 5 5 0 .7 39 0 9 0 .6 86 2 5 9 .0 04 0 2 6 .0 02 0 8 2 .6 74 8 2 1 .6 74 1 3 2 .1 32 8 4 5 .0 01 8 3 0 .0 09 4 6 .6 76 7 9 9 .5 66 0 9 2 0 .8 04 7 0 3 4 .1 86 5 3 1 2 .6 53 0 5 7 8 .1 61 4 1 7 1 .9 54 9 2 6 9 .2 02 8 8 3 2 .4 9(1 6 5 1 2 .6 5 )(5 3 3 3 .7 2 )4 4 2 7 2 .4 91 5 4 3 5 .0 64 4 2 6 7 .5 52 7 7 5 4 .9 02 2 4 2 1 .1 96 6 6 9 3 .6 83 7 0 1 6 .6 81 9 6 9 2 .9 8(1 0 2 5 3 .0 6 )(3 0 1 0 .7 4 )2 2 7 1 8 .7 9(1 9 5 2 .8 5 )1 7 7 4 0 .1 37 4 8 7 .0 74 4 7 6 .3 32 7 1 9 5 .1 22 1 .9 0 %27,1952.6921.90%0.40 0.60 0.80 1.00 1.20 2 7 1 9 5 .1 20.00 0.20 0.40 Y1Y2Y3Y4销售收入开发成本