Examinando por Materia "VALORACIÓN - FINANZAS"

Mostrando 1 - 1 de 1
  • No hay miniatura disponible
    Publicación
    Impacto de la reforma tributaria 2277 del año 2022 en la valoración financiera de Operlog S.A.S como empresa transportadora de Colombia
    (Universidad EAFIT, 2022) Ruiz Arenas, Daniel Steven; Duque Arboleda, Jonathan
    The tax reform approved in Colombia in 2022 (Law 2277) introduced substantial changes in the country's tax structure, directly impacting the profitability of companies, particularly those in sectors with high operating costs, such as cargo transportation. The main objective of this paper is to evaluate the impact of this reform on the financial valuation of Operlog S.A.S., a Colombian company specialized in logistics and transportation of pharmaceutical products, using the discounted cash flow (DCF) model. The analysis is based on the company's financial statements between 2019 and 2023, evaluating the effect of the reform on key indicators such as EBITDA, net income, operating margin, free cash flow (FCF) and return on invested capital (ROIC). The study also includes the calculation of the weighted average cost of capital (WACC) and terminal value, as well as a sensitivity analysis to examine various fiscal scenarios. In addition, a qualitative approach is incorporated through semi-structured interviews with company executives, which provides insight into their perceptions and tax adaptation strategies. The research results provide a comprehensive view of how tax reforms affect companies' ability to generate value and make strategic decisions. They also provide valuable guidance for internal policymaking in uncertain tax contexts.