{"id":2041825,"date":"2024-05-23T09:01:35","date_gmt":"2024-05-23T09:01:35","guid":{"rendered":"https:\/\/www.nimbo.net\/leitfaden-unternehmenswert"},"modified":"2025-11-17T14:29:02","modified_gmt":"2025-11-17T14:29:02","slug":"guide-till-foretagets-varde","status":"publish","type":"post","link":"https:\/\/www.nimbo.net\/sv\/guide-till-foretagets-varde","title":{"rendered":"Den praktiska guiden till f\u00f6retagsv\u00e4rdering f\u00f6r 2026 (med exempel)"},"content":{"rendered":"<style>.kb-row-layout-id2041576_c800a0-a1 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id2041576_c800a0-a1 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id2041576_c800a0-a1 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:750px;margin-left:auto;margin-right:auto;padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id2041576_c800a0-a1 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id2041576_c800a0-a1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id2041576_c800a0-a1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id2041576_c800a0-a1 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col,.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_4c0a2f-6e{position:relative;}@media all and (max-width: 1024px){.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_4c0a2f-6e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_4c0a2f-6e inner-column-1\"><div class=\"kt-inside-inner-col\">\n<p class=\"has-text-align-left\"><strong>\u201cVad \u00e4r mitt f\u00f6retag egentligen v\u00e4rt?\u201d<\/strong> \u2013 Denna fr\u00e5ga syssels\u00e4tter m\u00e5nga f\u00f6retagare, oavsett om det g\u00e4ller f\u00f6rs\u00e4ljning, successionsplanering eller strategiska beslut. I den h\u00e4r omfattande guiden hittar du allt du beh\u00f6ver veta om ber\u00e4kningen av f\u00f6retagsv\u00e4rdet \u2013 praktiskt och med exempel.  <\/p>\n<\/div><\/div>\n\n<\/div><\/div><style>.kb-row-layout-wrap.wp-block-kadence-rowlayout.kb-row-layout-id_9f0bc7-59{margin-top:30px;margin-bottom:30px;}.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:1000px;margin-left:auto;margin-right:auto;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id_9f0bc7-59{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kb-row-layout-id_9f0bc7-59{border-top:0.5px solid var(--global-palette4, #2D3748);border-right:0.5px solid var(--global-palette4, #2D3748);border-bottom:0.5px solid var(--global-palette4, #2D3748);border-left:0.5px solid var(--global-palette4, #2D3748);}.kb-row-layout-id_9f0bc7-59{background-image:url('https:\/\/www.nimbo.net\/wp-content\/uploads\/2022\/03\/NIMBO_Sc_05_2-no-background-e1649249520508.png');background-size:cover;background-position:center center;background-attachment:scroll;background-repeat:no-repeat;}.kb-row-layout-id_9f0bc7-59 > .kt-row-layout-overlay{opacity:0.90;background-color:var(--global-palette9, #ffffff);}@media all and (max-width: 1024px){.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 1024px){.kb-row-layout-id_9f0bc7-59{border-top:0.5px solid var(--global-palette4, #2D3748);border-right:0.5px solid var(--global-palette4, #2D3748);border-bottom:0.5px solid var(--global-palette4, #2D3748);border-left:0.5px solid var(--global-palette4, #2D3748);}}@media all and (max-width: 767px){.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id_9f0bc7-59{border-top:0.5px solid var(--global-palette4, #2D3748);border-right:0.5px solid var(--global-palette4, #2D3748);border-bottom:0.5px solid var(--global-palette4, #2D3748);border-left:0.5px solid var(--global-palette4, #2D3748);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id_9f0bc7-59 aligncenter has-theme-palette8-background-color kt-row-has-bg wp-block-kadence-rowlayout\"><div class=\"kt-row-layout-overlay kt-row-overlay-normal\"><\/div><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column_31e235-46 > .kt-inside-inner-col{display:flex;}.kadence-column_31e235-46 > .kt-inside-inner-col,.kadence-column_31e235-46 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:center;}.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}.kadence-column_31e235-46 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_31e235-46{text-align:center;}.kadence-column_31e235-46{position:relative;}@media all and (max-width: 1024px){.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:center;}}@media all and (min-width: 768px) and (max-width: 1024px){.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}@media all and (max-width: 767px){.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;justify-content:flex-start;justify-content:center;}.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column_31e235-46 kb-section-has-link kb-section-dir-horizontal inner-column-1\"><div class=\"kt-inside-inner-col\">\n<p class=\"has-small-font-size\">Online f\u00f6retagsutv\u00e4rdering, gratis och utan registrering, omedelbar utv\u00e4rdering, 13-sidig rapport, algoritm baserad p\u00e5 tusentals utv\u00e4rderingar <br\/><br\/><a href=\"https:\/\/www.nimbo.net\/sv\/berakna-foretagsvardering\"><strong>&gt; Till f\u00f6retagsbetyg online &lt;<\/strong><\/a><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.nimbo.net\/wp-content\/uploads\/2022\/08\/Google-Reviews.webp\" alt=\"\" class=\"wp-image-2014773\" width=\"130\" height=\"30\"\/><\/figure><\/div><\/div><a href=\"https:\/\/www.nimbo.net\/sv\/berakna-foretagsvardering\" class=\"kb-section-link-overlay\"><\/a><\/div>\n\n<\/div><\/div><style>.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col,.kadence-column2041576_f2d667-4d > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{background-color:rgba(224, 228, 229, 0.22);}.kadence-column2041576_f2d667-4d > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_f2d667-4d{position:relative;}@media all and (max-width: 1024px){.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_f2d667-4d > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_f2d667-4d\"><div class=\"kt-inside-inner-col\">\n<p class=\"has-medium-font-size\">Inneh\u00e5llsf\u00f6rteckning<\/p>\n\n\n<style>.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-content-wrap{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-contents-title-wrap{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-contents-title{font-family:var( --global-body-font-family, inherit );font-weight:inherit;font-style:normal;}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-content-wrap .kb-table-of-content-list{font-size:var(--global-kb-font-size-sm, 0.9rem);font-weight:regular;font-style:normal;text-transform:none;margin-top:var(--global-kb-spacing-xxs, 0.5rem);margin-right:0px;margin-bottom:0px;margin-left:0px;}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-content-wrap .kb-table-of-content-list .active > .kb-table-of-contents__entry{color:var(--global-palette1, #3182CE);}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-content-list li{margin-bottom:4px;}.kb-table-of-content-nav.kb-table-of-content-id2041576_6be5e6-fc .kb-table-of-content-list li .kb-table-of-contents-list-sub{margin-top:4px;}<\/style><\/div><\/div>\n\n<h2 class=\"wp-block-heading\">R\u00e4tt mindset<\/h2>\n\n<h4 class=\"wp-block-heading\"><em><mark class=\"kt-highlight\">En f\u00f6retagsv\u00e4rdering \u00e4r inte en vetenskap, utan ber\u00e4ttelsen om en historia<\/mark><\/em><\/h4>\n\n<p>Att ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag \u00e4r inte en vetenskap och inte objektivt. Man anv\u00e4nder visserligen skenbart neutrala siffror, \u201ch\u00e5rda fakta\u201d och g\u00f6r ber\u00e4kningar utifr\u00e5n akademiska modeller. Dessa baseras dock p\u00e5 antaganden om en os\u00e4ker framtid. De enskilda v\u00e4rderingsmetoderna ger dig de n\u00f6dv\u00e4ndiga verktygen f\u00f6r att sammanfatta dina antaganden och \u00e5sikter i siffror p\u00e5 ett konsekvent s\u00e4tt. Bakom detta ligger dock alltid en subjektiv historia, p\u00e5verkad av f\u00f6rfattaren till v\u00e4rderingen.<\/p>\n\n<h4 class=\"wp-block-heading\"><em><mark class=\"kt-highlight\">V\u00e4rderingen kommer att \u00e5terspegla vad man<\/mark><mark class=\"kt-highlight\"> redan tror om f\u00f6retaget<\/mark><\/em><\/h4>\n\n<p>De flesta m\u00e4nniskor som sysslar med v\u00e4rderingen av ett f\u00f6retag har redan en uppfattning om vad de anser vara v\u00e4rdet p\u00e5 ett f\u00f6retag. Denna f\u00f6rutfattade mening kommer att hitta en v\u00e4g in i v\u00e4rderingen. Vare sig det \u00e4r genom valet av v\u00e4rderingsmetod, antagandena f\u00f6r den framtida tillv\u00e4xten eller valet av de f\u00f6retag som j\u00e4mf\u00f6rs med. V\u00e4rderingen kommer att \u00e5terspegla vad skaparen redan tror om f\u00f6retaget. Var d\u00e4rf\u00f6r medveten om din egen partiskhet och fr\u00e5ga dig alltid n\u00e4r du betraktar en f\u00f6retagsv\u00e4rdering: Vem har skapat eller betalat f\u00f6r denna v\u00e4rdering och vilken partiskhet och vilka motiv ing\u00e5r i den?<\/p>\n\n<h4 class=\"wp-block-heading\"><em><mark class=\"kt-highlight\">Komplicerat betyder inte b\u00e4ttre<\/mark><\/em><\/h4>\n\n<p>Se upp f\u00f6r skengenauaktighet n\u00e4r du ber\u00e4knar f\u00f6retagsv\u00e4rdet! Ju mer komplicerad en v\u00e4rderingsmodell \u00e4r, desto fler v\u00e4gar kommer f\u00f6rfattaren medvetet eller omedvetet att hitta f\u00f6r att \u00e5terspegla sin partiskhet i v\u00e4rderingen. Den som inte kan f\u00f6rklara sin f\u00f6retagsv\u00e4rdering p\u00e5 ett enkelt s\u00e4tt f\u00f6r n\u00e5gon annan har inte f\u00f6rst\u00e5tt den sj\u00e4lv. <\/p>\n\n<h4 class=\"wp-block-heading\"><em><mark class=\"kt-highlight\">T\u00e4nk i bandbredder och scenarier<\/mark><\/em><\/h4>\n\n<p>Anv\u00e4nd om m\u00f6jligt minst tv\u00e5 metoder f\u00f6r f\u00f6retagsutv\u00e4rdering och betrakta <a href=\"#welche-methoden\">f\u00f6retagsv\u00e4rdet fr\u00e5n flera synvinklar<\/a>. F\u00f6rs\u00f6k att f\u00f6rst\u00e5 varf\u00f6r olika v\u00e4rderingsmetoder leder till olika resultat. Unders\u00f6k hur \u00e4ndringar av antaganden och prognoser p\u00e5verkar v\u00e4rderingsresultaten. Detta ger dig en k\u00e4nsla f\u00f6r det m\u00f6jliga intervallet f\u00f6r f\u00f6retagets v\u00e4rde och vad det beror p\u00e5.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"methoden\">Vilken v\u00e4rderingsmetod \u00e4r den r\u00e4tta?<\/h2>\n\n<div class=\"hierarchyTree-scroll-wrapper\">\n  <div class=\"hierarchyTree-container\">\n    <!-- Background Image -->\n    <img decoding=\"async\" src=\"https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/12\/Hierarchy-Tree-1-3-1.png\" alt=\"Hierarkidiagram\" class=\"hierarchyTree-background-image\"\/>\n\n    <!-- Overlay Text -->\n    <div class=\"hierarchyTree-text-overlay\">\n      <div class=\"hierarchyTree-node hierarchyTree-parent\">\n        <strong>Metoder f\u00f6r f\u00f6retagsv\u00e4rdering<\/strong>\n      <\/div>\n      <div class=\"hierarchyTree-node hierarchyTree-child1\">\n        <strong>Marknadsorienterad<\/strong>\n        <ul>\n          <li>Multiplicerarmetod<\/li>\n        <\/ul>\n      <\/div>\n      <div class=\"hierarchyTree-node hierarchyTree-child2\">\n        <strong>Vinstorienterad<\/strong>\n        <ul>\n          <li>F\u00f6renklad avkastningsv\u00e4rde<\/li>\n          <li>Diskonterat kassafl\u00f6de (DCF)<\/li>\n          <li>riskkapitalmetoden<\/li>\n        <\/ul>\n      <\/div>\n      <div class=\"hierarchyTree-node hierarchyTree-child3\">\n        <strong>Kostnadsbaserad<\/strong>\n        <ul>\n          <li>Substansv\u00e4rde<\/li>\n        <\/ul>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n<h3 class=\"wp-block-heading\" id=\"orientierungshilfe\">S\u00e5 v\u00e4ljer du r\u00e4tt v\u00e4rderingsmetod<\/h3>\n\n<p>Inte varje v\u00e4rderingsmetod \u00e4r l\u00e4mplig f\u00f6r alla f\u00f6retag. Nedanst\u00e5ende bild visar ett beslutstr\u00e4d som hj\u00e4lper dig att v\u00e4lja r\u00e4tt v\u00e4rderingsmetod. Anv\u00e4nd om m\u00f6jligt flera v\u00e4rderingsmetoder f\u00f6r att f\u00e5 en bandbredd av m\u00f6jliga f\u00f6retagsv\u00e4rden.  <\/p>\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"614\" height=\"1024\" src=\"https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/de-1-614x1024.png\" alt=\"\" class=\"wp-image-2051486\" srcset=\"https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/de-1-614x1024.png 614w, https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/de-1-180x300.png 180w, https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/de-1-768x1280.png 768w, https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/de-1.png 900w\" sizes=\"auto, (max-width: 614px) 100vw, 614px\" \/><\/figure>\n\n<p><a href=\"#Multiplikatorenverfahren\"><strong>Multiplicerarmetoden<\/strong><\/a> och det <a href=\"#Ertragswertmethode\"><strong>f\u00f6renklade avkastningsv\u00e4rdet<\/strong><\/a> \u00e4r l\u00e4mpliga f\u00f6r stabila och l\u00f6nsamma f\u00f6retag. Deras f\u00f6rdel \u00e4r att de \u00e4r enklare och mer begripliga (t.ex. j\u00e4mf\u00f6rt med diskonterad kassafl\u00f6desmetod (DCF)), kr\u00e4ver f\u00e4rre antaganden och ingen detaljerad vinstprognos f\u00f6r kommande \u00e5r. De baseras p\u00e5 f\u00f6retagets aktuella situation. D\u00e4rmed kan de dock inte beakta utvecklingen i framtiden.<\/p>\n\n<p>Den <a href=\"#DCF\"><strong>diskonterad kassafl\u00f6desmetod (DCF)<\/strong><\/a> \u00e4r mycket flexibel och kan i princip anv\u00e4ndas i alla situationer. Metoden bygger dock p\u00e5 m\u00e5nga antaganden och prognoser m\u00e5ste g\u00f6ras f\u00f6r flera \u00e5r fram\u00e5t. Sm\u00e5 \u00e4ndringar kan inneb\u00e4ra stora variationer i v\u00e4rderingsresultatet. V\u00e4rderingsmodellen kan ocks\u00e5 ge sken av noggrannhet. F\u00f6r stabila f\u00f6retag kan metoden eventuellt anv\u00e4ndas som ett komplement till enklare metoder.<\/p>\n\n<p>Det <strong><a href=\"#Substanzwertmethode\">substansv\u00e4rdet<\/a><\/strong> beaktar endast de aktuella tillg\u00e5ngarna i ett f\u00f6retag. F\u00f6r ett l\u00f6nsamt f\u00f6retag \u00e4r substansv\u00e4rdet betydligt l\u00e4gre \u00e4n v\u00e4rderingsresultatet fr\u00e5n andra metoder. Om s\u00e5 inte vore fallet skulle det inneb\u00e4ra att f\u00f6rs\u00e4ljningen av de enskilda tillg\u00e5ngarna i f\u00f6retaget (och d\u00e4rmed uppl\u00f6sningen av f\u00f6retaget) skulle vara meningsfull. F\u00f6rdelen med substansv\u00e4rdemetoden \u00e4r att den \u00e4r relativt enkel och &#8220;objektiv&#8221;. Substansv\u00e4rdet kan betraktas som en nedre gr\u00e4ns f\u00f6r f\u00f6retagets v\u00e4rde. I vissa l\u00e4nder baseras v\u00e4rderingen av skattemyndigheten \u00e5tminstone delvis p\u00e5 denna v\u00e4rderingsmetod.<\/p>\n\n<p><a href=\"#venturecapital\"><strong>riskkapitalmetoden<\/strong><\/a> \u00e4r i praktiken allm\u00e4nt anv\u00e4nd f\u00f6r att v\u00e4rdera startups. Det \u00e4r en anpassning av diskonterad kassafl\u00f6desmetod (DCF).<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"Multiplikatormethode\">Multiplicerarmetod<\/h2>\n\n<p>F\u00f6r v\u00e4rderingen anv\u00e4nds aktuellt uppn\u00e5dda priser fr\u00e5n j\u00e4mf\u00f6rbara f\u00f6retag. Man betraktar f\u00f6rs\u00e4ljningspriset som en multipel (\u201cmultipel\u201d, \u201cmultiplicerare\u201d) av en basnyckeltal, exempelvis EBIT, EBITDA eller oms\u00e4ttningen.<\/p>\n\n<div class=\"wp-block-group notepad has-border-color has-background\" style=\"border-color:var(--global-palette3);border-width:1px;border-radius:10px;padding-top:0;background-image:url(&#039;https:\/\/www.nimbo.net\/wp-content\/uploads\/2023\/11\/Example-Notepad-Background.png&#039;);background-position:50% 0;background-size:800px;\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-e3e06330 wp-block-group-is-layout-flex\"><style>.kt-svg-icons2041576_e76740-48 .kt-svg-item-0 .kb-svg-icon-wrap{color:var(--global-palette4, #2D3748);font-size:50px;}.wp-block-kadence-icon.kt-svg-icons2041576_e76740-48{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons2041576_e76740-48 alignnone kb-icon-valign-bottom\"><style>.kt-svg-item-2041576_a26b53-d7 .kb-svg-icon-wrap, .kt-svg-style-stacked.kt-svg-item-2041576_a26b53-d7 .kb-svg-icon-wrap{font-size:40px;}<\/style>\n<div class=\"wp-block-kadence-single-icon kt-svg-style-default kt-svg-icon-wrap kt-svg-item-2041576_a26b53-d7\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_edit\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M20 14.66V20a2 2 0 0 1-2 2H4a2 2 0 0 1-2-2V6a2 2 0 0 1 2-2h5.34\"\/><polygon points=\"18 2 22 6 12 16 8 16 8 12 18 2\"\/><\/svg><\/span><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Exempel p\u00e5 multiplikatormetoden <\/h3>\n<\/div>\n\n\n\n<!-- Link to Google Fonts for Caveat font --><link href=\"https:\/\/fonts.googleapis.com\/css2?family=Caveat&#038;display=swap\" rel=\"stylesheet\"\/><!-- Style to apply the Caveat font only within the .notepad group --><style>.notepad {\n    font-family: 'Caveat', cursive;\n}\n<\/style>\n\n\n\n<h4>Exempel p\u00e5 antaganden:<\/h4>\n<table>\n    <tr>\n        <th><\/th>\n        <th><\/th>\n    <\/tr>\n    <tr>\n        <td>EBIT:<\/td>\n <td>1 000 000 \u20ac<\/td>\n    <\/tr>\n    <tr>\n        <td>Branschtypisk multipel:<\/td>\n <td>4-7<\/td>\n    <\/tr>\n  <tr>\n        <td>Antagen multipel:<\/td>\n <td>6<\/td>\n    <\/tr>\n <tr>\n        <td>Bankl\u00e5n:<\/td>\n <td>1 000 000 \u20ac<\/td>\n    <\/tr>\n    <tr>\n        <td>H\u00f6gre \u00e4n vanligt lagerbest\u00e5nd:<\/td>\n <td>500 000 \u20ac<\/td>\n    <\/tr>\n<\/table>\n\n<h4>Steg 1: Ber\u00e4kning av Enterprise Value (EV)<\/h4>\n<p>Enterprise Value = EBIT \u00d7 Multipel<\/p>\n<p>EV = 1 000 000 \u20ac \u00d7 6 = 6 000 000 \u20ac<\/p>\n<h4>Steg 2: Ber\u00e4kning av eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;)<\/h4>\n            <p>Eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;) = F\u00f6retagsv\u00e4rde \u2013 Netto skulder<\/p>\n            <p>Netto skulder = Bankl\u00e5n \u2013 \u00d6verskottslager<\/p>\n            <p>Netto skulder = 1 000 000 \u20ac \u2013 500 000 \u20ac = 500 000 \u20ac<\/p>\n            <p>Eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;) = 6 000 000 \u20ac \u2013 500 000 \u20ac = 5 500 000 \u20ac<\/p>\n\n            <p class=\"result\">F\u00f6retagsv\u00e4rdet (Enterprise Value) \u00e4r: <strong>6 000 000 \u20ac<\/strong><\/p>\n            <p class=\"result\">Eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;) \u00e4r: <strong>5 500 000 \u20ac<\/strong><\/p>\n<\/div><\/div>\n\n<p><\/p>\n\n<p>K\u00f6peskillingar f\u00f6r sm\u00e5 och medelstora f\u00f6retag publiceras s\u00e4llan. En j\u00e4mf\u00f6relse med b\u00f6rsnoterade f\u00f6retag \u00e4r oanv\u00e4ndbar, eftersom v\u00e4sentligt l\u00e4gre multiplar i regel betalas f\u00f6r mindre f\u00f6retag. NIMBO publicerar varje m\u00e5nad <a href=\"https:\/\/www.nimbo.net\/sv\/varderingsmultiplar\">de aktuellt observerade EBIT-, EBITDA-, EBITC- och oms\u00e4ttningsmultiplarna f\u00f6r olika l\u00e4nder, f\u00f6retagsstorlekar och branscher.<\/a> L\u00e4s \u00e4ven den detaljerade <a href=\"https:\/\/www.nimbo.net\/sv\/bewertungsmethoden-2#h-die-multiplemethode\">f\u00f6rklaringen av de enskilda multiplarna<\/a>.  <\/p>\n<style>.kadence-column2041576_6909de-48 > .kt-inside-inner-col{display:flex;}.kadence-column2041576_6909de-48 > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_6909de-48 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);}.kadence-column2041576_6909de-48 > .kt-inside-inner-col,.kadence-column2041576_6909de-48 > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column2041576_6909de-48 > .kt-inside-inner-col{row-gap:var(--global-kb-gap-none, 0rem );column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_6909de-48 > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_6909de-48 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_6909de-48 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_6909de-48{position:relative;}.kadence-column2041576_6909de-48, .kt-inside-inner-col > .kadence-column2041576_6909de-48:not(.specificity){margin-top:20px;margin-bottom:20px;}@media all and (max-width: 1024px){.kadence-column2041576_6909de-48 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_6909de-48 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_6909de-48\"><div class=\"kt-inside-inner-col\">\n<p>F\u00f6rdelar och nackdelar med multiplikatormetoden:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_de6df7-5f:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_de6df7-5f ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_de6df7-5f ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_de6df7-5f .kb-svg-icon-wrap{font-size:22px;color:var(--global-palette2, #2B6CB0);}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_de6df7-5f ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_de6df7-5f ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_de6df7-5f kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_2bb84b-c2 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_2bb84b-c2\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">L\u00e4mplig f\u00f6r f\u00f6retag med stabil vinst<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_2f8ede-98 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_2f8ede-98\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Enkelhet och begriplighet<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_86386d-c0 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_86386d-c0\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">V\u00e4rderingen \u00e4r marknadsorienterad<\/span><\/li>\n<\/ul><\/div>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_2adb78-39:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_2adb78-39 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_2adb78-39 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_2adb78-39 .kb-svg-icon-wrap{font-size:22px;color:#b9431c;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_2adb78-39 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_2adb78-39 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_2adb78-39 kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_c5108b-41 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_c5108b-41\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Brist p\u00e5 data f\u00f6r j\u00e4mf\u00f6rbara f\u00f6retag<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_109942-42 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_109942-42\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Inget beaktande av framtida utveckling<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"Ertragswertmethode\">F\u00f6renklad avkastningsv\u00e4rde<\/h2>\n\n<p>Formeln f\u00f6r denna v\u00e4rderingsmetod \u00e4r: F\u00f6retagsv\u00e4rde = Int\u00e4kter dividerat med kapitaliseringsr\u00e4nta. Kapitaliseringsr\u00e4ntan visar att dessa int\u00e4kter ligger f\u00f6rst i framtiden och \u00e4r riskfyllda. Storleken p\u00e5 denna antagna r\u00e4ntesats \u00e4r subjektiv. F\u00f6r mindre f\u00f6retag ligger den i intervallet 10-20 %. Sm\u00e5 \u00e4ndringar av r\u00e4ntesatsen har en stor inverkan p\u00e5 det ber\u00e4knade f\u00f6retagsv\u00e4rdet. Denna avkastningsmetod kallas &#8220;enkel&#8221; eftersom man bara antar en justerad h\u00e5llbar vinst. Man bortser fr\u00e5n en detaljerad framtida int\u00e4ktsutveckling. Naturligtvis leder bara l\u00f6nsamma f\u00f6retag till positiva v\u00e4rderingar. Att v\u00e4rdera ol\u00f6nsamma f\u00f6retag med hj\u00e4lp av denna metod \u00e4r meningsl\u00f6st.         <\/p>\n\n<div class=\"wp-block-group notepad has-border-color has-background\" style=\"border-color:var(--global-palette3);border-width:1px;border-radius:10px;padding-top:0;background-image:url(&#039;https:\/\/www.nimbo.net\/wp-content\/uploads\/2023\/11\/Example-Notepad-Background.png&#039;);background-position:50% 0;background-size:800px;\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-e3e06330 wp-block-group-is-layout-flex\"><style>.kt-svg-icons2041576_923d00-02 .kt-svg-item-0 .kb-svg-icon-wrap{color:var(--global-palette4, #2D3748);font-size:50px;}.wp-block-kadence-icon.kt-svg-icons2041576_923d00-02{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons2041576_923d00-02 alignnone kb-icon-valign-bottom\"><style>.kt-svg-item-2041576_b74931-98 .kb-svg-icon-wrap, .kt-svg-style-stacked.kt-svg-item-2041576_b74931-98 .kb-svg-icon-wrap{font-size:40px;}<\/style>\n<div class=\"wp-block-kadence-single-icon kt-svg-style-default kt-svg-icon-wrap kt-svg-item-2041576_b74931-98\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_edit\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M20 14.66V20a2 2 0 0 1-2 2H4a2 2 0 0 1-2-2V6a2 2 0 0 1 2-2h5.34\"\/><polygon points=\"18 2 22 6 12 16 8 16 8 12 18 2\"\/><\/svg><\/span><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Exempel f\u00f6renklad avkastningsv\u00e4rde<\/h3>\n<\/div>\n\n\n\n<!-- Link to Google Fonts for Caveat font --><link href=\"https:\/\/fonts.googleapis.com\/css2?family=Caveat&#038;display=swap\" rel=\"stylesheet\"\/><!-- Style to apply the Caveat font only within the .notepad group --><style>.notepad {\n    font-family: 'Caveat', cursive;\n}\n<\/style>\n\n\n\n<table>\n    <tr>\n        <th><\/th>\n        <th><\/th>\n    <\/tr>\n    <tr>\n        <td>H\u00e5llbar int\u00e4kt<\/td>\n <td>1 000 000 \u20ac<\/td>\n    <\/tr>\n <tr>\n        <td>Fastst\u00e4lld basr\u00e4nta:<\/td>\n <td>2 %<\/td>\n <\/tr>\n    <tr>\n        <td>Marknadsriskpremie:<\/td>\n <td>8 %<\/td>\n   <\/tr>\n <tr>\n        <td>F\u00f6retagsspecifik riskpremie:<\/td>\n <td>10 %<\/td>\n\n    <\/tr>\n<\/table>\n<h4>Fr\u00e5ga ur k\u00f6parens perspektiv:<\/h4>\n            <p>Hur mycket pengar skulle k\u00f6paren beh\u00f6va investera i en alternativ investering med samma risk f\u00f6r att uppn\u00e5 en avkastning p\u00e5 1 000 000 \u20ac?<\/p>\n\n            <h4>Ber\u00e4kning av kapitaliseringsr\u00e4ntan:<\/h4>\n            <p><strong>Steg 1: Kapitaliseringsr\u00e4nta = Basr\u00e4nta + Marknadsriskpremie + f\u00f6retagsspecifik riskpremie<\/strong><\/p>\n            <p>Kapitaliseringsr\u00e4nta = 2 % + 8 % + 10 %<\/p>\n            <p>Kapitaliseringsr\u00e4nta = 20 %<\/p>\n\n            <h4>Ber\u00e4kning av f\u00f6retagsv\u00e4rdet (avkastningsv\u00e4rde):<\/h4>\n            <p>Avkastningsv\u00e4rde = H\u00e5llbar avkastning \/ Kapitaliseringsr\u00e4nta<\/p>\n            <p>Avkastningsv\u00e4rde = 1 000 000 \u20ac \/ 0,20 = 5 000 000 \u20ac<\/p>\n\n            <p class=\"result\">Kapitaliseringsr\u00e4ntan \u00e4r: <strong>20 %<\/strong><\/p>\n            <p class=\"result\">F\u00f6retagsv\u00e4rdet uppg\u00e5r till: <strong>5 000 000 \u20ac<\/strong><\/p>\n\n\n\n<p><\/p>\n<\/div><\/div>\n<style>.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{display:flex;}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col,.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{row-gap:var(--global-kb-gap-none, 0rem );column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_0eed5e-3d{position:relative;}.kadence-column2041576_0eed5e-3d, .kt-inside-inner-col > .kadence-column2041576_0eed5e-3d:not(.specificity){margin-top:20px;margin-bottom:20px;}@media all and (max-width: 1024px){.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_0eed5e-3d > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_0eed5e-3d\"><div class=\"kt-inside-inner-col\">\n<p>F\u00f6r- och nackdelar med den f\u00f6renklade avkastningsmetoden:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_611d1d-f5:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_611d1d-f5 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_611d1d-f5 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_611d1d-f5 .kb-svg-icon-wrap{font-size:22px;color:var(--global-palette2, #2B6CB0);}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_611d1d-f5 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_611d1d-f5 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_611d1d-f5 kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_717146-4f .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_717146-4f\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Enkelhet<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_124062-ca .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_124062-ca\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Liten anstr\u00e4ngning f\u00f6r datainsamling<\/span><\/li>\n<\/ul><\/div>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_bc4cc1-34:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_bc4cc1-34 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_bc4cc1-34 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_bc4cc1-34 .kb-svg-icon-wrap{font-size:22px;color:#b9431c;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_bc4cc1-34 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_bc4cc1-34 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_bc4cc1-34 kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_f689f8-6e .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_f689f8-6e\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Inget beaktande av framtida utveckling<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_79be96-1d .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_79be96-1d\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Mycket beroende av valet av kapitaliseringsr\u00e4nta<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_6552cd-42 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_6552cd-42\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Valet av kapitaliseringsr\u00e4nta \u00e4r subjektivt<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"DCF\">Diskonterat kassafl\u00f6de (DCF)<\/h2>\n\n<p>Denna v\u00e4rderingsmetod \u00e4r n\u00e4ra besl\u00e4ktad med den ovan beskrivna enkla avkastningsmetoden. R\u00e4ntesatsen till\u00e4mpas individuellt p\u00e5 de framtida kassafl\u00f6dena (&#8220;Free Cash Flows&#8221;) f\u00f6r de kommande 5 \u00e5ren. F\u00f6r tiden d\u00e4refter l\u00e4ggs det s\u00e5 kallade residualv\u00e4rdet till. Detta liknar mycket det ovan beskrivna enkla avkastningsv\u00e4rdet. Summan av dessa diskonterade kassafl\u00f6den och f\u00f6retagets residualv\u00e4rde ger f\u00f6retagets v\u00e4rde. Denna v\u00e4rderingsmetod \u00e4r mycket flexibel och ur teoretisk synvinkel &#8220;Best Practice&#8221;. Den \u00e4r dock \u00e4nnu mer subjektiv och k\u00e4nslig \u00e4n avkastningsmetoden. Lita aldrig p\u00e5 en DCF-v\u00e4rdering som du inte sj\u00e4lv har f\u00f6rsk\u00f6nat. H\u00e4r hittar du mer information om <a href=\"https:\/\/www.nimbo.net\/sv\/bewertungsmethoden-2#h-die-discounted-cashflow-verfahren-dcf\">diskonterad kassafl\u00f6desmetod (DCF)<\/a>.        <\/p>\n\n<div class=\"wp-block-group notepad has-border-color has-background\" style=\"border-color:var(--global-palette3);border-width:1px;border-radius:10px;padding-top:0;background-image:url(&#039;https:\/\/www.nimbo.net\/wp-content\/uploads\/2023\/11\/Example-Notepad-Background.png&#039;);background-position:50% 0;background-size:800px;\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-e3e06330 wp-block-group-is-layout-flex\"><style>.kt-svg-icons2041576_37b9ae-a2 .kt-svg-item-0 .kb-svg-icon-wrap{color:var(--global-palette4, #2D3748);font-size:50px;}.wp-block-kadence-icon.kt-svg-icons2041576_37b9ae-a2{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons2041576_37b9ae-a2 alignnone kb-icon-valign-bottom\"><style>.kt-svg-item-2041576_69d7e9-92 .kb-svg-icon-wrap, .kt-svg-style-stacked.kt-svg-item-2041576_69d7e9-92 .kb-svg-icon-wrap{font-size:40px;}<\/style>\n<div class=\"wp-block-kadence-single-icon kt-svg-style-default kt-svg-icon-wrap kt-svg-item-2041576_69d7e9-92\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_edit\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M20 14.66V20a2 2 0 0 1-2 2H4a2 2 0 0 1-2-2V6a2 2 0 0 1 2-2h5.34\"\/><polygon points=\"18 2 22 6 12 16 8 16 8 12 18 2\"\/><\/svg><\/span><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Exempel Discounted Cash Flow (DCF)<\/h3>\n<\/div>\n\n\n\n<!-- Link to Google Fonts for Caveat font --><link href=\"https:\/\/fonts.googleapis.com\/css2?family=Caveat&#038;display=swap\" rel=\"stylesheet\"\/><!-- Style to apply the Caveat font only within the .notepad group --><style>.notepad {\n    font-family: 'Caveat', cursive;\n}\n<\/style>\n\n\n\n<h4>Fritt kassafl\u00f6de (FCF) f\u00f6r prognos av de kommande 3 \u00e5ren<\/h4>\n<div class=\"table-scroll\">\n<table>\n    <tr>\n        <th><\/th>\n        <th>Prognos \u00e5r 1<\/th>\n <th>Prognos \u00e5r 2<\/th>\n <th>Prognos \u00e5r 3<\/th>\n    <\/tr>\n    <tr>\n        <td>Fritt kassafl\u00f6de (FCF)<\/td>\n <td>300,000<\/td>\n <td>330,000<\/td>\n <td>360,000<\/td>\n    <\/tr>\n<\/table>\n<\/div>\n\n<h4>Ber\u00e4kning av de diskonterade kassafl\u00f6dena och terminalv\u00e4rdet<\/h4>\n\n<p>Diskonteringsr\u00e4nta (r) = 10 %<\/p>\n<p>Terminaltillv\u00e4xttakt (g) = 2 %<\/p>\n\n<!-- Formula for DCF -->\n<p class=\"formula\">\n DCF <sub>1<\/sub> =  \n    <span class=\"fraction\">\n        <span class=\"top\">FCF<sub>1<\/sub><\/span>\n <span class=\"bottom\">(1 + r)<sup>1<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">300,000<\/span>\n <span class=\"bottom\">1.10<\/span>\n    <\/span>  = 272,727\n<\/p>\n\n<p class=\"formula\">\n DCF <sub>2<\/sub> =  \n    <span class=\"fraction\">\n        <span class=\"top\">FCF<sub>2<\/sub><\/span>\n <span class=\"bottom\">(1 + r)<sup>2<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">330,000<\/span>\n <span class=\"bottom\">(1.10)<sup>2<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">330,000<\/span>\n <span class=\"bottom\">1.21<\/span>\n    <\/span>  = 272,727\n<\/p>\n\n<p class=\"formula\">\n DCF <sub>3<\/sub> =  \n    <span class=\"fraction\">\n        <span class=\"top\">FCF<sub>3<\/sub><\/span>\n <span class=\"bottom\">(1 + r)<sup>3<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">360,000<\/span>\n <span class=\"bottom\">(1.10)<sup>3<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">360,000<\/span>\n <span class=\"bottom\">1.33<\/span>\n    <\/span>  = 270,676\n<\/p>\n\n<h4>Ber\u00e4kning av terminalv\u00e4rdet (TV)<\/h4>\n\n<p>Terminalv\u00e4rdet ber\u00e4knas som:<\/p>\n\n<p class=\"formula\">\n  TV = \n <span class=\"fraction\">\n <span class=\"top\">FCF<sub>3<\/sub> \u00d7 (1 + g)<\/span>\n <span class=\"bottom\">r &#8211; g<\/span>\n <\/span> = \n <span class=\"fraction\">\n <span class=\"top\">360,000 \u00d7 1.02<\/span>\n <span class=\"bottom\">0.10 &#8211; 0.02<\/span>\n <\/span> = 4,590,000\n<\/p>\n\n<p>Terminalv\u00e4rdet diskonteras sedan ocks\u00e5:<\/p>\n\n<p class=\"formula\">\n DCF <sub>TV<\/sub> =  \n    <span class=\"fraction\">\n        <span class=\"top\">4,590,000<\/span>\n <span class=\"bottom\">(1 + r)<sup>3<\/sup><\/span>\n    <\/span>  =  \n    <span class=\"fraction\">\n        <span class=\"top\">4,590,000<\/span>\n <span class=\"bottom\">1.33<\/span>\n    <\/span>  = 3,451,128\n<\/p>\n\n<h4>Totalt f\u00f6retagsv\u00e4rde (Enterprise Value, EV)<\/h4>\n\n<p class=\"formula\">\n  EV = Summa DCF + DCF<sub>TV<\/sub> = 272,727 + 272,727 + 270,676 + 3,451,128 = 4,267,258\n<\/p>\n\n<h4>Ber\u00e4kning av eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;)<\/h4>\n\n<p>Eget kapitalv\u00e4rde ber\u00e4knas genom att dra av nettoskulden fr\u00e5n f\u00f6retagsv\u00e4rdet:<\/p>\n\n<p class=\"formula\">\n  Eget kapitalv\u00e4rde = EV &#8211; Skulder + Kassa\n<\/p>\n\n<p>Anta att f\u00f6retaget har 500 000 i skulder och 200 000 i kassan:<\/p>\n\n<p class=\"formula\">\n  Eget kapitalv\u00e4rde = 4 267 258 &#8211; 500 000 + 200 000 = 3 967 258\n<\/p>\n\n<p>Eget kapitalv\u00e4rde \u00e4r s\u00e5ledes 3 967 258.<\/p>\n<\/div><\/div>\n<style>.kadence-column2041576_496c68-8b > .kt-inside-inner-col{display:flex;}.kadence-column2041576_496c68-8b > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_496c68-8b > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);}.kadence-column2041576_496c68-8b > .kt-inside-inner-col,.kadence-column2041576_496c68-8b > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column2041576_496c68-8b > .kt-inside-inner-col{row-gap:var(--global-kb-gap-none, 0rem );column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_496c68-8b > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_496c68-8b > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_496c68-8b > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_496c68-8b{position:relative;}.kadence-column2041576_496c68-8b, .kt-inside-inner-col > .kadence-column2041576_496c68-8b:not(.specificity){margin-top:20px;margin-bottom:20px;}@media all and (max-width: 1024px){.kadence-column2041576_496c68-8b > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_496c68-8b > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_496c68-8b\"><div class=\"kt-inside-inner-col\">\n<p>F\u00f6r- och nackdelar med DCF-metoden:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_0f7378-9f:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_0f7378-9f ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_0f7378-9f ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_0f7378-9f .kb-svg-icon-wrap{font-size:22px;color:var(--global-palette2, #2B6CB0);}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_0f7378-9f ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_0f7378-9f ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_0f7378-9f kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_1f504e-2e .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_1f504e-2e\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Baseras p\u00e5 den f\u00f6rv\u00e4ntade framtida utvecklingen<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_6c3e58-c8 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_6c3e58-c8\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Flexibel; kan anpassas till olika marknadssituationer, kassafl\u00f6desmodeller och strategiska antaganden<\/span><\/li>\n<\/ul><\/div>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_e001de-5b:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_e001de-5b ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_e001de-5b ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_e001de-5b .kb-svg-icon-wrap{font-size:22px;color:#b9431c;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_e001de-5b ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_e001de-5b ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_e001de-5b kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_1c4ffc-63 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_1c4ffc-63\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Komplex; kr\u00e4ver en m\u00e4ngd sv\u00e5rbed\u00f6mda antaganden<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_4da4a6-c5 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_4da4a6-c5\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Mycket beroende av valet av kapitaliseringsr\u00e4nta<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_b815a0-38 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_b815a0-38\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Subjektiva framtidsf\u00f6rv\u00e4ntningar<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_5dd88f-dc .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_5dd88f-dc\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Ofta f\u00f6r h\u00f6ga v\u00e4rderingar genom optimistiska antaganden<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<h2 class=\"wp-block-heading\">Venture Capital-metoden (VC-metoden)<\/h2>\n\n<p><strong>Venture Capital-metoden<\/strong> \u00e4r en praktisk v\u00e4rderingsmetod som framf\u00f6r allt anv\u00e4nds f\u00f6r <strong>startups och unga, \u00e4nnu inte l\u00f6nsamma f\u00f6retag<\/strong>. Den kommer fr\u00e5n riskkapitalgivarnas v\u00e4rld. I grunden st\u00e4ller sig en investerare vid denna metod fr\u00e5gan: <em>Vad kan f\u00f6retaget vara v\u00e4rt vid exit (t.ex. f\u00f6rs\u00e4ljning eller b\u00f6rsintroduktion om 5\u20137 \u00e5r)?<\/em> Och: <em>Hur mycket f\u00e5r jag maximalt investera i dag f\u00f6r att uppn\u00e5 min efterstr\u00e4vade avkastning fram till dess?<\/em>  <\/p>\n\n<p>Investeraren fastst\u00e4ller ett rimligt f\u00f6retagsv\u00e4rde vid exit-tidpunkten \u2013 oftast baserat p\u00e5 en oms\u00e4ttnings- eller vinstprognos och en multiplicerare (t.ex. 10\u00d7 EBIT eller 3\u00d7 oms\u00e4ttning). Venture Capital-givare r\u00e4knar med h\u00f6ga risker och efterstr\u00e4var motsvarande h\u00f6ga avkastningar, ofta mellan <strong>25 % och 60 % per \u00e5r<\/strong>, beroende p\u00e5 bransch och fas. Det f\u00f6rv\u00e4ntade exit-v\u00e4rdet diskonteras sedan med m\u00e5lavkastningen \u00f6ver den planerade innehavstiden (t.ex. 5 \u00e5r). D\u00e4rav f\u00f6ljer det <strong>nuvarande v\u00e4rdet ur investerarens synvinkel<\/strong>, allts\u00e5 det maximala investeringsbeloppet. Kapitalgivaren fastst\u00e4ller d\u00e4rifr\u00e5n sin \u00f6nskade andel i f\u00f6retaget \u2013 denna f\u00f6rhandlas eller anv\u00e4nds som bas f\u00f6r v\u00e4rderingen.    <\/p>\n<style>.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{display:flex;}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col,.kadence-column2041576_f988d2-0f > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{row-gap:var(--global-kb-gap-none, 0rem );column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_f988d2-0f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_f988d2-0f{position:relative;}.kadence-column2041576_f988d2-0f, .kt-inside-inner-col > .kadence-column2041576_f988d2-0f:not(.specificity){margin-top:20px;margin-bottom:20px;}@media all and (max-width: 1024px){.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_f988d2-0f > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_f988d2-0f\"><div class=\"kt-inside-inner-col\">\n<p>F\u00f6r- och nackdelar med riskkapitalmetoden:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_1874a8-88:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_1874a8-88 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_1874a8-88 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_1874a8-88 .kb-svg-icon-wrap{font-size:22px;color:var(--global-palette2, #2B6CB0);}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_1874a8-88 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_1874a8-88 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_1874a8-88 kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_ae8a3f-9a .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_ae8a3f-9a\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Praktisk och marknadsm\u00e4ssig i startup-finansieringen<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_174a68-1e .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_174a68-1e\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Fokus p\u00e5 avkastningsm\u00e5l fr\u00e5n investerare<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_0c2767-d3 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_0c2767-d3\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Beaktar risk genom h\u00f6g diskonteringsr\u00e4nta<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_4c9c33-17 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_4c9c33-17\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">M\u00f6jligg\u00f6r snabba bed\u00f6mningar f\u00f6r investerare och grundare<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_14d393-fa .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_14d393-fa\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">V\u00e4l kombinerbar med andra metoder eller scenarioanalyser<\/span><\/li>\n<\/ul><\/div>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_332c1e-6b:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_332c1e-6b ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_332c1e-6b ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_332c1e-6b .kb-svg-icon-wrap{font-size:22px;color:#b9431c;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_332c1e-6b ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_332c1e-6b ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_332c1e-6b kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_b786e2-80 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_b786e2-80\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Stark f\u00f6renkling \u2013 inget detaljerat betraktande av mellan\u00e5r<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_458c17-5a .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_458c17-5a\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Sv\u00e5righet vid v\u00e4rderingen av immateriella tillg\u00e5ngar<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_469463-fd .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_469463-fd\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">H\u00f6gt beroende av f\u00e5 antaganden (exit-multiplicerare, innehavstid etc.)<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_526f05-00 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_526f05-00\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Inget uttalande om v\u00e4rdet f\u00f6r andra intressenter (t.ex. k\u00f6pare, eftertr\u00e4dare)<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_0832fa-b2 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_0832fa-b2\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Inte l\u00e4mplig f\u00f6r etablerade f\u00f6retag utan exit-scenario<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<p><br\/><\/p>\n\n<h2 class=\"wp-block-heading\" id=\"Substanzwertmethode\">Substansv\u00e4rde<\/h2>\n\n<p>Man f\u00e5r substansv\u00e4rdet genom att f\u00f6rst addera v\u00e4rdena f\u00f6r anl\u00e4ggnings- och oms\u00e4ttningstillg\u00e5ngar till marknadspriser. Detta inkluderar balansposter av materiell och immateriell karakt\u00e4r. Skatter, skulder och f\u00f6rpliktelser dras av. Tysta reserver l\u00f6ses upp. Det som objektivt finns v\u00e4rderas allts\u00e5 nyktert. En k\u00f6pare \u00e4r dock oftast inte bara intresserad av f\u00f6retagets substans. Han vill veta vilken vinst man kan generera med denna substans i framtiden. D\u00e4rf\u00f6r anv\u00e4nds denna v\u00e4rderingsmetod endast i kombination med andra metoder. Om f\u00f6rs\u00e4ljningspriset \u00e4r l\u00e4gre \u00e4n substansv\u00e4rdet skulle det vara meningsfullt f\u00f6r f\u00f6retagaren att helt enkelt likvidera f\u00f6retaget. D\u00e4rf\u00f6r fungerar <strong>substansv\u00e4rdet som en nedre gr\u00e4ns f\u00f6r f\u00f6retagets v\u00e4rde.<\/strong> Substansv\u00e4rdemetoden         <strong> <\/strong>anv\u00e4nds ocks\u00e5 n\u00e4r andra metoder leder till negativa v\u00e4rderingar.<\/p>\n\n<div class=\"wp-block-group notepad has-border-color has-background\" style=\"border-color:var(--global-palette3);border-width:1px;border-radius:10px;padding-top:0;background-image:url(&#039;https:\/\/www.nimbo.net\/wp-content\/uploads\/2023\/11\/Example-Notepad-Background.png&#039;);background-position:50% 0;background-size:800px;\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-e3e06330 wp-block-group-is-layout-flex\"><style>.kt-svg-icons2041576_879a9a-f1 .kt-svg-item-0 .kb-svg-icon-wrap{color:var(--global-palette4, #2D3748);font-size:50px;}.wp-block-kadence-icon.kt-svg-icons2041576_879a9a-f1{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons2041576_879a9a-f1 alignnone kb-icon-valign-bottom\"><style>.kt-svg-item-2041576_b88a34-e2 .kb-svg-icon-wrap, .kt-svg-style-stacked.kt-svg-item-2041576_b88a34-e2 .kb-svg-icon-wrap{font-size:40px;}<\/style>\n<div class=\"wp-block-kadence-single-icon kt-svg-style-default kt-svg-icon-wrap kt-svg-item-2041576_b88a34-e2\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_edit\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M20 14.66V20a2 2 0 0 1-2 2H4a2 2 0 0 1-2-2V6a2 2 0 0 1 2-2h5.34\"\/><polygon points=\"18 2 22 6 12 16 8 16 8 12 18 2\"\/><\/svg><\/span><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Exempel substansv\u00e4rde<\/h3>\n<\/div>\n\n\n\n<!-- Link to Google Fonts for Caveat font --><link href=\"https:\/\/fonts.googleapis.com\/css2?family=Caveat&#038;display=swap\" rel=\"stylesheet\"\/><!-- Style to apply the Caveat font only within the .notepad group --><style>.notepad {\n    font-family: 'Caveat', cursive;\n}\n<\/style>\n\n\n\n<h4>Exempel p\u00e5 antaganden:<\/h4>\n\n<div class=\"calculation\">\n<table>\n    <tr>\n        <th><\/th>\n        <th><\/th>\n        <th><\/th>\n       \n    <\/tr>\n    <tr>\n        <td>V\u00e4rde p\u00e5 anl\u00e4ggnings- och oms\u00e4ttningstillg\u00e5ngar (till marknadspriser):<\/td>\n <td> <\/td>\n <td> <\/td>\n <td>1 000 000 \u20ac<\/td>\n    <\/tr>\n    <tr>\n        <td>F\u00f6rbindelser\/skulder:<\/td>\n <td> <\/td>\n <td> <\/td>\n <td>500 000 \u20ac<\/td>\n    <\/tr>\n  <tr>\n        <td>Avs\u00e4ttningar:<\/td>\n <td> <\/td>\n <td> <\/td>\n <td>100 000 \u20ac<\/td>\n    <\/tr>\n <tr>\n        <td>Uppl\u00f6sning av ekonomiskt on\u00f6diga avs\u00e4ttningar:<\/td>\n <td> <\/td>\n <td> <\/td>\n <td>100 000 \u20ac<\/td>\n    <\/tr>\n<\/table>\n<\/div>\n\n<div class=\"calculation\">\n            <h4>Ber\u00e4kning av substansv\u00e4rdet:<\/h4>\n\n            <p><strong>Steg 1: Justering av avs\u00e4ttningarna<\/strong><\/p>\n            <p>Ekonomiskt on\u00f6diga avs\u00e4ttningar uppl\u00f6ses:<\/p>\n            <p>Effektiva avs\u00e4ttningar = Avs\u00e4ttningar &#8211; on\u00f6diga avs\u00e4ttningar<\/p>\n            <p>Effektiva avs\u00e4ttningar = 100 000 \u20ac &#8211; 100 000 \u20ac = 0 \u20ac<\/p>\n\n            <p><strong>Steg 2: Substansv\u00e4rde = Tillg\u00e5ngar &#8211; Skulder &#8211; effektiva avs\u00e4ttningar<\/strong><\/p>\n            <p>Substansv\u00e4rde = 1 000 000 \u20ac &#8211; 500 000 \u20ac &#8211; 0 \u20ac<\/p>\n            <p>Substansv\u00e4rde = 500 000 \u20ac<\/p>\n\n            <p class=\"result\">F\u00f6retagets substansv\u00e4rde \u00e4r: <strong>500 000 \u20ac<\/strong><\/p>\n<\/div>\n<\/div><\/div>\n<style>.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{display:flex;}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col,.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{row-gap:var(--global-kb-gap-none, 0rem );column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{flex-direction:column;}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column2041576_dcf6c0-74{position:relative;}.kadence-column2041576_dcf6c0-74, .kt-inside-inner-col > .kadence-column2041576_dcf6c0-74:not(.specificity){margin-top:20px;margin-bottom:20px;}@media all and (max-width: 1024px){.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column2041576_dcf6c0-74 > .kt-inside-inner-col{border-top:1px solid var(--global-palette3, #1A202C);border-right:1px solid var(--global-palette3, #1A202C);border-bottom:1px solid var(--global-palette3, #1A202C);border-left:1px solid var(--global-palette3, #1A202C);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column2041576_dcf6c0-74\"><div class=\"kt-inside-inner-col\">\n<p>F\u00f6r- och nackdelar med substansv\u00e4rdemetoden:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_315cf3-5b:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_315cf3-5b ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_315cf3-5b ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_315cf3-5b .kb-svg-icon-wrap{font-size:22px;color:var(--global-palette2, #2B6CB0);}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_315cf3-5b ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_315cf3-5b ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_315cf3-5b kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_a77e09-28 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_a77e09-28\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Enkel och begriplig<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_fb0aea-5f .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_fb0aea-5f\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Mindre subjektiv \u00e4n andra v\u00e4rderingsmetoder<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_dfd06f-65 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_dfd06f-65\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-up kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M104 224H24c-13.255 0-24 10.745-24 24v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V248c0-13.255-10.745-24-24-24zM64 472c-13.255 0-24-10.745-24-24s10.745-24 24-24 24 10.745 24 24-10.745 24-24 24zM384 81.452c0 42.416-25.97 66.208-33.277 94.548h101.723c33.397 0 59.397 27.746 59.553 58.098.084 17.938-7.546 37.249-19.439 49.197l-.11.11c9.836 23.337 8.237 56.037-9.308 79.469 8.681 25.895-.069 57.704-16.382 74.757 4.298 17.598 2.244 32.575-6.148 44.632C440.202 511.587 389.616 512 346.839 512l-2.845-.001c-48.287-.017-87.806-17.598-119.56-31.725-15.957-7.099-36.821-15.887-52.651-16.178-6.54-.12-11.783-5.457-11.783-11.998v-213.77c0-3.2 1.282-6.271 3.558-8.521 39.614-39.144 56.648-80.587 89.117-113.111 14.804-14.832 20.188-37.236 25.393-58.902C282.515 39.293 291.817 0 312 0c24 0 72 8 72 81.452z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Anv\u00e4ndbarhet vid likvidation<\/span><\/li>\n<\/ul><\/div>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_641c07-ad:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_641c07-ad ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_641c07-ad ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_641c07-ad .kb-svg-icon-wrap{font-size:22px;color:#b9431c;}.wp-block-kadence-iconlist.kt-svg-icon-list-items2041576_641c07-ad ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items2041576_641c07-ad ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items2041576_641c07-ad kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-2041576_8ffa7e-a4 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_8ffa7e-a4\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">F\u00f6rsummelse av intj\u00e4ningsf\u00f6rm\u00e5gan<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_1a5e79-75 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_1a5e79-75\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Sv\u00e5righet vid v\u00e4rderingen av immateriella tillg\u00e5ngar<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_f8ba55-45 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_f8ba55-45\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Potentiell underv\u00e4rdering<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_ad5767-0c .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_ad5767-0c\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Starkt beroende av redovisningsstandarder<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-2041576_02fec6-3a .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2041576_02fec6-3a\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_thumbs-down kt-svg-icon-list-single\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 56v240c0 13.255 10.745 24 24 24h80c13.255 0 24-10.745 24-24V56c0-13.255-10.745-24-24-24H24C10.745 32 0 42.745 0 56zm40 200c0-13.255 10.745-24 24-24s24 10.745 24 24-10.745 24-24 24-24-10.745-24-24zm272 256c-20.183 0-29.485-39.293-33.931-57.795-5.206-21.666-10.589-44.07-25.393-58.902-32.469-32.524-49.503-73.967-89.117-113.111a11.98 11.98 0 0 1-3.558-8.521V59.901c0-6.541 5.243-11.878 11.783-11.998 15.831-.29 36.694-9.079 52.651-16.178C256.189 17.598 295.709.017 343.995 0h2.844c42.777 0 93.363.413 113.774 29.737 8.392 12.057 10.446 27.034 6.148 44.632 16.312 17.053 25.063 48.863 16.382 74.757 17.544 23.432 19.143 56.132 9.308 79.469l.11.11c11.893 11.949 19.523 31.259 19.439 49.197-.156 30.352-26.157 58.098-59.553 58.098H350.723C358.03 364.34 384 388.132 384 430.548 384 504 336 512 312 512z\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Inget beaktande av marknadsf\u00f6rh\u00e5llanden<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"faktoren\">De fr\u00e4msta faktorerna f\u00f6r f\u00f6retagsv\u00e4rdet<\/h2>\n\n<h4 class=\"wp-block-heading\" id=\"angebot-nachfrage\">Utbud och efterfr\u00e5gan<\/h4>\n\n<p>Det finns inget objektivt f\u00f6retagsv\u00e4rde om man vill s\u00e4lja ett f\u00f6retag. Fastst\u00e4ll f\u00f6retagsv\u00e4rdet vid en f\u00f6rs\u00e4ljning av utbud och efterfr\u00e5gan.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"finanzkennzahlen\">Finansiella nyckeltal<\/h4>\n\n<p>F\u00f6retag v\u00e4rderas utifr\u00e5n sin framtida f\u00f6rv\u00e4ntade avkastning. En analys av den tidigare och nuvarande avkastningen ger information om en m\u00f6jlig framtida utveckling. Avkastningen kontrolleras med avseende p\u00e5 h\u00e5llbarhet. Extraordin\u00e4ra vinster och f\u00f6rluster r\u00e4knas bort. I vilken riktning pekar trenden f\u00f6r oms\u00e4ttningen och avkastningen? Kan d\u00e5liga \u00e5r f\u00f6rklaras?<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"vertrauen-in-den-verkaufer-und-dessen-unterlagen\">F\u00f6rtroende f\u00f6r s\u00e4ljaren och dennes handlingar<\/h4>\n\n<p>Ju st\u00f6rre riskerna \u00e4r, desto l\u00e4gre \u00e4r f\u00f6retagsv\u00e4rdet. Det f\u00e5r inte uppst\u00e5 n\u00e5gra tvivel om riktigheten och fullst\u00e4ndigheten av uppgifterna. Detta \u00f6kar os\u00e4kerheten p\u00e5 k\u00f6parsidan i on\u00f6dan. Det \u00e4r viktigt att f\u00f6rbereda alla handlingar i enlighet med detta. Dessa ska visa en transparent och felfri bild av f\u00f6retaget. Obehagliga \u00f6verraskningar m\u00e5ste absolut undvikas.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"abhangigkeit-der-firma-vom-inhaber\">F\u00f6retagets beroende av innehavaren<\/h4>\n\n<p>F\u00f6r en investerare \u00e4r ett h\u00f6gt beroende av innehavaren en risk. Hur forts\u00e4tter f\u00f6retaget att fungera om den nuvarande innehavaren inte l\u00e4ngre \u00e4r d\u00e4r? Om man inte l\u00e4ngre kan anv\u00e4nda sig av hans erfarenhet, hans kunskap och hans relationer till kunder och leverant\u00f6rer?<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"marktstellung-der-firma\">F\u00f6retagets marknadsposition<\/h4>\n\n<p>Hur utbytbar \u00e4r f\u00f6retaget f\u00f6r sina kunder? Utrymmer man en intressant nisch? Finns det h\u00e5llbara konkurrensf\u00f6rdelar? Ett tydligt fokus, ett utm\u00e4rkt rykte och l\u00e5ngvariga kundrelationer \u00e4r sv\u00e5ra att kopiera.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"risiken\">Risker<\/h4>\n\n<p>En balanserad kundkrets, utbytbara aff\u00e4rspartner och l\u00e5gt beroende av enskilda medarbetare reducerar risken.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"wachstumsaussichten\">Tillv\u00e4xtutsikter<\/h4>\n\n<p>\u00c4r aff\u00e4rsmodellen inriktad p\u00e5 tillv\u00e4xt? Vilka \u00e4r chanserna f\u00f6r en potentiell k\u00f6pare? Finns det attraktiva skalf\u00f6rdelar?<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"personal\">Personal<\/h4>\n\n<p>Hur h\u00f6g \u00e4r personaloms\u00e4ttningen? Hur h\u00f6g \u00e4r sjukfr\u00e5nvaron? Hur ser \u00e5ldersstrukturen ut? Hur eftertraktade \u00e4r medarbetarna p\u00e5 arbetsmarknaden?<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"fehler\">Undvik dessa 5 vanliga fel<\/h2>\n\n<h4 class=\"wp-block-heading\" id=\"befangenheit\">Partiskhet<\/h4>\n\n<p>F\u00f6retagsinnehavare har f\u00f6rst\u00e5eligt nog sv\u00e5rt att betrakta sitt eget f\u00f6retag objektivt. Prisf\u00f6rv\u00e4ntningarna \u00e4r ofta f\u00f6r h\u00f6ga. Fr\u00e5ga dig d\u00e4rf\u00f6r: Skulle du sj\u00e4lv k\u00f6pa f\u00f6retaget till detta pris? Skulle du inte kunna bygga upp ett nytt f\u00f6retag med detta belopp? Hur l\u00e5ng tid skulle det ta innan en k\u00f6pare har refinansierat f\u00f6rs\u00e4ljningspriset i form av vinster? Tips: Ingen vill vara p\u00e5 r\u00f6tt efter 8 \u00e5r efter f\u00f6retagsk\u00f6pet.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"kein-marktlohn-fur-den-inhaber\">Ingen marknadsl\u00f6n f\u00f6r innehavaren<\/h4>\n\n<p>En vinst \u00e4r bara verkligen en vinst om alla medarbetare &#8211; och till detta h\u00f6r verkst\u00e4llande direkt\u00f6ren! &#8211; har f\u00e5tt marknadsm\u00e4ssig ers\u00e4ttning innan dess. Allt annat \u00e4r en f\u00f6rvr\u00e4ngning av intj\u00e4ningsl\u00e4get, vilket leder till en f\u00f6r h\u00f6g v\u00e4rdering.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"orientierung-an-grossfirmen\">Orientering mot stora f\u00f6retag<\/h4>\n\n<p>Marknadsledaren i din bransch v\u00e4rderas till tre g\u00e5nger oms\u00e4ttningen? Amazon var redan v\u00e4rt miljarder innan det ens gjorde vinst. EBIT-multiplarna f\u00f6r b\u00f6rsnoterade f\u00f6retag \u00e4r ofta tv\u00e5siffriga. F\u00f6r f\u00f6retag under 20 miljoner i oms\u00e4ttning \u00e4r dock EBIT- eller EBITDA-multiplar mellan 3-6 regeln. I v\u00e5r \u00f6versikt hittar du realistiska <a href=\"https:\/\/www.nimbo.net\/sv\/varderingsmultiplar\">v\u00e4rderingsmultiplar f\u00f6r ett f\u00f6retag av din storlek och din bransch<\/a>. \u00c4r ditt f\u00f6retag det s\u00e4llsynta undantaget? D\u00e5 kommer du att m\u00e4rka det genom regelbundna, ouppfordrade och konkreta k\u00f6perbjudanden.      <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"volles-warenlager-und-toller-maschinenpark\">\u201cFullt varulager\u201d och \u201cDyr maskinpark\u201d<\/h4>\n\n<p>De flesta v\u00e4rderingsmetoder \u00e4r inriktade p\u00e5 f\u00f6retagets int\u00e4kter. F\u00f6retaget ses som ett instrument f\u00f6r att generera framtida vinster. Allt som beh\u00f6vs f\u00f6r att kunna generera dessa vinster i framtiden \u00e4r redan beaktat. Detta inkluderar maskinpark, varulager, innovativa produkter etc. Om dessa saker inte leder till en h\u00f6gre vinst i framtiden \u00e4r de v\u00e4rdel\u00f6sa ur detta perspektiv. M\u00e5nga innehavare vill dock till exempel l\u00e4gga till varulagret till f\u00f6retagets avkastningsv\u00e4rde. Detta \u00e4r inte l\u00e4mpligt med dessa metoder. (Tankar om <a href=\"https:\/\/www.nimbo.net\/sv\/vardering-av-lager-vid-foretagsforsaljning\">v\u00e4rdering av varulagret<\/a> vid f\u00f6retagsf\u00f6rs\u00e4ljning)       <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"das-unternehmen-hat-viel-potenzial\">\u201cF\u00f6retaget har stor potential\u201d<\/h4>\n\n<p>N\u00e4stan alla f\u00f6retag har \u201cstor potential\u201d. Att utnyttja detta kr\u00e4ver mycket entrepren\u00f6rsanda och resurser och b\u00f6r d\u00e4rf\u00f6r endast f\u00f6rsiktigt r\u00e4knas in i v\u00e4rderingen. Den som vill utnyttja f\u00f6retagets fulla potential b\u00f6r genomf\u00f6ra detta sj\u00e4lv och s\u00e4lja f\u00f6retaget f\u00f6rst senare. Ingen tror en s\u00e4ljare som s\u00e4ger att f\u00f6retaget st\u00e5r inf\u00f6r ett stort vinstspr\u00e5ng. Varf\u00f6r skulle han d\u00e5 vilja s\u00e4lja just nu?<\/p>\n\n<h3 class=\"wp-block-heading\" id=\"ablauf\">F\u00f6rloppet f\u00f6r en f\u00f6retagsbed\u00f6mning<\/h3>\n\n<p>1) Reng\u00f6ring av bokf\u00f6ringsdokumenten: De senaste 3-5 \u00e5rens bokslut normaliseras. Extraordin\u00e4ra kostnader och int\u00e4kter, icke-verksamhetsn\u00f6dv\u00e4ndiga kostnader, tysta reserver och skatteoptimeringar r\u00e4knas bort. Intriger med \u00e4garens privatliv l\u00f6ses upp. Vid behov justeras l\u00f6ner fr\u00e5n \u00e4garen eller andra n\u00e4rst\u00e5ende personer som inte \u00e4r marknadsm\u00e4ssiga. De resulterande finansiella siffrorna ska s\u00e5 exakt som m\u00f6jligt \u00e5terspegla f\u00f6retagets h\u00e5llbara intj\u00e4ningsl\u00e4ge, vilket ocks\u00e5 \u00e4r realistiskt under nytt \u00e4garskap.<\/p>\n\n<p>2) Skapa planeringssiffror f\u00f6r de kommande 3-5 \u00e5ren (helst f\u00f6r olika scenarier).<\/p>\n\n<p>3) V\u00e4rdering med de olika vanliga v\u00e4rderingsmetoderna med beaktande av de tidigare punkterna.<\/p>\n\n<p>4) Blanda de enskilda metoderna f\u00f6r att bilda medelv\u00e4rden och bandbredder, \u00e4ven med beaktande av olika scenarier och antaganden.<\/p>\n\n<h2 class=\"wp-block-heading\">N\u00e4r det ska g\u00e5 snabbt<\/h2>\n\n<h3 class=\"wp-block-heading\" id=\"faustformel\">Ber\u00e4kna f\u00f6retagsv\u00e4rde tumregel<\/h3>\n\n<p>Vill du bara ha en indikation p\u00e5 f\u00f6retagsv\u00e4rdet f\u00f6r ett litet eller medelstort f\u00f6retag baserat p\u00e5 en grov formel f\u00f6r f\u00f6retagsbed\u00f6mning? <\/p>\n\n<ul class=\"wp-block-list\">\n<li>Ber\u00e4kna f\u00f6retagsv\u00e4rde tumregel 1: Ber\u00e4kna genomsnittet av EBIT (vinst f\u00f6re skatt och r\u00e4ntor) f\u00f6r de senaste tre \u00e5ren. Multiplicera detta med faktor 4 (l\u00e5gt v\u00e4rde) till 6 (h\u00f6gt v\u00e4rde). Dra av f\u00f6retagets skulder fr\u00e5n resultaten. Du f\u00e5r en bandbredd d\u00e4r ditt f\u00f6retagsv\u00e4rde ungef\u00e4r r\u00f6r sig.<\/li>\n<\/ul>\n\n<ul class=\"wp-block-list\">\n<li>Ber\u00e4kna f\u00f6retagsv\u00e4rde tumregel 2: Fundera p\u00e5 hur mycket en k\u00f6pare skulle kunna ta ut vinster fr\u00e5n f\u00f6retaget under de n\u00e4rmaste \u00e5ren. S\u00e4tt priset s\u00e5 att det kan amortera k\u00f6peskillingen inom 4 till 7 \u00e5r. <\/li>\n<\/ul>\n\n<p>En \u00f6versikt \u00f6ver <a href=\"https:\/\/www.nimbo.net\/sv\/tumregel-foretagsvardering\">vanliga tumregler<\/a> hittar du i v\u00e5rt blogginl\u00e4gg om \u00e4mnet.<\/p>\n\n<h3 class=\"wp-block-heading\" id=\"online-rechner\">Ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag med onlinetj\u00e4nster<\/h3>\n\n<p>En online f\u00f6retagsbed\u00f6mning kan ge en bra f\u00f6rsta indikation p\u00e5 ett m\u00f6jligt f\u00f6rs\u00e4ljningspris. F\u00f6r en definitiv priss\u00e4ttning b\u00f6r dock alltid en expert konsulteras.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"merkmale-einer-guten-online-firmenbewertung\">Egenskaper f\u00f6r en bra online f\u00f6retagsbed\u00f6mning<\/h4>\n\n<ul class=\"wp-block-list\">\n<li>Systematisk v\u00e4gledning genom ett strukturerat fr\u00e5geformul\u00e4r<\/li>\n\n\n\n<li>F\u00f6rst\u00e5eligt f\u00f6r lekm\u00e4n<\/li>\n\n\n\n<li>Finansiella siffror kan justeras<\/li>\n\n\n\n<li>Ber\u00e4kning av f\u00f6retagsv\u00e4rde baserat p\u00e5 aktuella marknadsdata<\/li>\n\n\n\n<li>Beaktar olika branscher<\/li>\n\n\n\n<li>Beaktar olika f\u00f6retagsstorlekar (Ett f\u00f6retag med 5 anst\u00e4llda v\u00e4rderas annorlunda \u00e4n ett med 50 anst\u00e4llda)<\/li>\n<\/ul>\n<style>.kb-row-layout-wrap.wp-block-kadence-rowlayout.kb-row-layout-id_9f0bc7-59{margin-top:30px;margin-bottom:30px;}.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id_9f0bc7-59 > 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center;background-attachment:scroll;background-repeat:no-repeat;}.kb-row-layout-id_9f0bc7-59 > .kt-row-layout-overlay{opacity:0.90;background-color:var(--global-palette9, #ffffff);}@media all and (max-width: 1024px){.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 1024px){.kb-row-layout-id_9f0bc7-59{border-top:0.5px solid var(--global-palette4, #2D3748);border-right:0.5px solid var(--global-palette4, #2D3748);border-bottom:0.5px solid var(--global-palette4, #2D3748);border-left:0.5px solid var(--global-palette4, #2D3748);}}@media all and (max-width: 767px){.kb-row-layout-id_9f0bc7-59 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id_9f0bc7-59{border-top:0.5px solid var(--global-palette4, #2D3748);border-right:0.5px solid var(--global-palette4, #2D3748);border-bottom:0.5px solid var(--global-palette4, #2D3748);border-left:0.5px solid var(--global-palette4, #2D3748);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id_9f0bc7-59 aligncenter has-theme-palette8-background-color kt-row-has-bg wp-block-kadence-rowlayout\"><div class=\"kt-row-layout-overlay kt-row-overlay-normal\"><\/div><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column_31e235-46 > .kt-inside-inner-col{display:flex;}.kadence-column_31e235-46 > .kt-inside-inner-col,.kadence-column_31e235-46 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:center;}.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}.kadence-column_31e235-46 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_31e235-46{text-align:center;}.kadence-column_31e235-46{position:relative;}@media all and (max-width: 1024px){.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:center;}}@media all and (min-width: 768px) and (max-width: 1024px){.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}@media all and (max-width: 767px){.kadence-column_31e235-46 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;justify-content:flex-start;justify-content:center;}.kadence-column_31e235-46 > .kt-inside-inner-col > *, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column_31e235-46 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column_31e235-46 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column_31e235-46 kb-section-has-link kb-section-dir-horizontal inner-column-1\"><div class=\"kt-inside-inner-col\">\n<p class=\"has-small-font-size\">Online f\u00f6retagsutv\u00e4rdering, gratis och utan registrering, omedelbar utv\u00e4rdering, 13-sidig rapport, algoritm baserad p\u00e5 tusentals utv\u00e4rderingar <br\/><br\/><a href=\"https:\/\/www.nimbo.net\/sv\/berakna-foretagsvardering\"><strong>&gt; Till f\u00f6retagsbetyg online &lt;<\/strong><\/a><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.nimbo.net\/wp-content\/uploads\/2022\/08\/Google-Reviews.webp\" alt=\"\" class=\"wp-image-2014773\" width=\"130\" height=\"30\"\/><\/figure><\/div><\/div><a href=\"https:\/\/www.nimbo.net\/sv\/berakna-foretagsvardering\" class=\"kb-section-link-overlay\"><\/a><\/div>\n\n<\/div><\/div>\n<h4 class=\"wp-block-heading\" id=\"online-firmenbewertungen-eignen-sich-nicht-fur-eine-erstindikation-bei\">Online f\u00f6retagsbed\u00f6mningar \u00e4r INTE l\u00e4mpliga&#8230;<\/h4>\n\n<ul class=\"wp-block-list\">\n<li>&#8230; f\u00f6r v\u00e4rdering av startups<\/li>\n\n\n\n<li>&#8230; att ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag som v\u00e4xer mycket snabbt<\/li>\n\n\n\n<li>&#8230; att ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag om det g\u00f6r f\u00f6rlust eller bara mycket lite vinst (kolla in v\u00e5ra tips f\u00f6r <a href=\"https:\/\/www.nimbo.net\/sv\/vardering-av-olonsamt-foretag\">v\u00e4rdering av icke-l\u00f6nsamma f\u00f6retag<\/a>) <\/li>\n<\/ul>\n\n<h4 class=\"wp-block-heading\" id=\"achtung-vor-marketing-tricks\">Se upp f\u00f6r marknadsf\u00f6ringstrick!<\/h4>\n\n<p>M\u00e5nga online-kalkylatorer har bara ett m\u00e5l: att generera leads f\u00f6r f\u00f6retagsf\u00f6rs\u00e4ljningar. De antyder att man f\u00e5r en automatisk utv\u00e4rdering efter fr\u00e5geformul\u00e4ret. I slut\u00e4ndan kommer \u00f6verraskningen: Man m\u00e5ste ange sina kontaktuppgifter och en \u201cexpert\u201d (s\u00e4ljare) kommer att h\u00f6ra av sig per telefon.<\/p>\n\n<h2 class=\"wp-block-heading\">Branschspecifika s\u00e4rdrag<\/h2>\n\n<p>Basv\u00e4rderingen \u00e4r mer eller mindre identisk f\u00f6r alla f\u00f6retag, men beroende p\u00e5 bransch finns det s\u00e4rdrag att beakta. Tillh\u00f6r ditt f\u00f6retag n\u00e5gon av f\u00f6ljande branscher? Kolla d\u00e5 in v\u00e5ra blogginl\u00e4gg som behandlar s\u00e4rdragen vid v\u00e4rdering av f\u00f6retag fr\u00e5n dessa branscher.  <\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.nimbo.net\/sv\/vardering-programvaruforetag\">Programvaruf\u00f6retag<\/a><\/li>\n<\/ul>\n\n<p>Relevanta v\u00e4rdedrivare i denna bransch \u00e4r: Byteskostnader f\u00f6r kunden till en annan leverant\u00f6r, marginalvinsten och avtalsm\u00e4ssigt \u00e5terkommande int\u00e4kter.<\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.nimbo.net\/sv\/vardering-tillverkningsforetag\">Tillverkande f\u00f6retag <\/a><\/li>\n<\/ul>\n\n<p>Relevanta v\u00e4rdedrivare i denna bransch \u00e4r: r\u00e4ttigheterna till produkternas immateriella r\u00e4ttigheter, produktion i stora volymer, ett standardiserat produktsortiment, en h\u00f6g andel sj\u00e4lvgenererat v\u00e4rdeskapande och maskinparkens \u00e5lder.<\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.nimbo.net\/sv\/vardering-webbutik\">Webbutik<\/a><\/li>\n<\/ul>\n\n<p>Relevanta v\u00e4rdedrivare i denna bransch \u00e4r: f\u00f6rs\u00e4ljningskanaler, andelen egna varum\u00e4rken, den organiska andelen vid nykundanskaffning och kundlojalitets- och \u00e5terk\u00f6psfrekvensen. <\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.nimbo.net\/sv\/vardering-grossistforetag\">Grosshandel <\/a> <\/li>\n<\/ul>\n\n<p>Relevanta v\u00e4rdedrivare i denna bransch \u00e4r: leverant\u00f6rsstrukturen, handelsmarginalens storlek, lageroms\u00e4ttningshastigheten, andelen egna varum\u00e4rken och de exklusiva r\u00e4ttigheterna till produkterna. <\/p>\n\n<h2 class=\"wp-block-heading\">Maximera f\u00f6retagsv\u00e4rdet f\u00f6re f\u00f6rs\u00e4ljning<\/h2>\n\n<p>F\u00f6re f\u00f6rs\u00e4ljningen kan en hel del g\u00f6ras f\u00f6r att minska os\u00e4kerheter och lyfta fram f\u00f6retagets styrkor. Detta maximerar f\u00f6rs\u00e4ljningspriset.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"wissen-verteilen-prozesse-dokumentieren-stellvertretungen-definieren\">Sprid kunskap, dokumentera processer, definiera st\u00e4llf\u00f6retr\u00e4dare<\/h4>\n\n<p>Detta kan minimera den m\u00f6jliga skadan om en viktig medarbetare faller bort eller l\u00e4mnar f\u00f6retaget. Det minskar en stor oro hos en potentiell k\u00f6pare.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"kunden-und-lieferantenbeziehungen-sicherstellen\">S\u00e4kerst\u00e4ll kund- och leverant\u00f6rsrelationer<\/h4>\n\n<p>En k\u00f6pare kommer att vara orolig f\u00f6r att f\u00f6rlora viktiga kund- eller leverant\u00f6rsrelationer efter att \u00e4garen har l\u00e4mnat.<\/p>\n\n<ul class=\"wp-block-list\">\n<li>\u00d6verf\u00f6r viktiga relationer till medarbetare som f\u00f6rv\u00e4ntas stanna kvar i f\u00f6retaget.<\/li>\n\n\n\n<li>Om m\u00f6jligt, s\u00e4kra kundrelationer genom serviceavtal och lojalitetsprogram.<\/li>\n\n\n\n<li>Identifiera alternativ f\u00f6r viktiga leverant\u00f6rer f\u00f6r att mildra risken f\u00f6r avbrott och prish\u00f6jningar.<\/li>\n<\/ul>\n\n<h4 class=\"wp-block-heading\" id=\"optimierung-des-forderungsmanagements\">Optimering av fordringshanteringen<\/h4>\n\n<p>Minska det bundna kapitalet i oms\u00e4ttningstillg\u00e5ngarna. Detta \u00f6kar direkt f\u00f6retagsv\u00e4rdet. Kortare betalningsvillkor f\u00f6r kunder och en konsekvent inkassoprocess b\u00f6r kontrolleras.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"jahresbilanzen-vorbereiten\">F\u00f6rbered \u00e5rsbokslut<\/h4>\n\n<p>De senaste 5 \u00e5rens \u00e5rsbokslut m\u00e5ste vara transparenta och enkla att f\u00f6rst\u00e5. Oms\u00e4ttningsvariationer, vinstnedg\u00e5ngar, i\u00f6gonfallande kostnadsh\u00f6jningar etc. m\u00e5ste kunna f\u00f6rklaras p\u00e5 ett \u00f6vertygande s\u00e4tt p\u00e5 beg\u00e4ran. Detta skapar f\u00f6rtroende och \u00f6kar planeringss\u00e4kerheten.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"namhafte-referenzen-dokumentieren\">Dokumentera v\u00e4lrenommerade referenser<\/h4>\n\n<p>Skaffa referenser fr\u00e5n v\u00e4lrenommerade och n\u00f6jda kunder och l\u00e4gg till dem i f\u00f6rs\u00e4ljningsdokumenten.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"uberzeugende-formulierung-der-marktvorteile\">\u00d6vertygande formulering av marknadsf\u00f6rdelarna<\/h4>\n\n<p>Vad g\u00f6r produkterna eller tj\u00e4nsterna unika p\u00e5 marknaden? Vad \u00e4r sv\u00e5rt att kopiera f\u00f6r konkurrenterna? Fokusera p\u00e5 det viktiga och f\u00e5 fram det v\u00e4sentliga. L\u00e4gg till de formulerade f\u00f6rdelarna i f\u00f6rs\u00e4ljningsdokumenten.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"plausiblen-wachstumsplan-erstellen\">Skapa en rimlig tillv\u00e4xtplan<\/h4>\n\n<p>Identifiera realistiska och konkreta potentialer f\u00f6r ytterligare tillv\u00e4xt och effektivitets\u00f6kning och visa konkret hur dessa kan realiseras. F\u00f6rbered dig dessutom p\u00e5 fr\u00e5gan varf\u00f6r du inte redan har implementerat dessa sj\u00e4lv.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"weiteren-informationsbedarf-des-kaufers-antizipieren-und-vorbereiten\">F\u00f6rutse och f\u00f6rbered ytterligare informationsbehov hos k\u00f6paren<\/h4>\n\n<p>Ju st\u00f6rre os\u00e4kerheter och tvivel k\u00f6paren har, desto l\u00e4gre blir k\u00f6peskillingen. Skapa f\u00f6rtroende med v\u00e4ldokumenterade, tydliga, fullst\u00e4ndiga svar p\u00e5 f\u00f6rv\u00e4ntade fr\u00e5gor.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"ungeregelte-mitarbeiteranspruche-klaren\">Klarg\u00f6r oreglerade medarbetaranspr\u00e5k<\/h4>\n\n<p>Klarg\u00f6r och dokumentera alla anspr\u00e5k p\u00e5 bonusar, semester, utlovade l\u00f6ne\u00f6kningar etc. Negativa \u00f6verraskningar f\u00f6r s\u00e4ljaren m\u00e5ste undvikas.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"betriebsraumlichkeiten-sichern\">S\u00e4kra aff\u00e4rslokaler<\/h4>\n\n<p>\u00d6ka planeringss\u00e4kerheten genom att s\u00e4kra hyresf\u00f6rh\u00e5llanden f\u00f6r dina lokaler p\u00e5 l\u00e5ng sikt, vid behov med omf\u00f6rhandlingar med hyresv\u00e4rden.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"innerbetriebliche-konflikte-klaren\">Klarg\u00f6r interna konflikter<\/h4>\n\n<p>Tvister b\u00f6r klarg\u00f6ras och d\u00e5lig st\u00e4mning i teamet f\u00f6rb\u00e4ttras. F\u00f6rs\u00e4ljningsprocessen och \u00f6verg\u00e5ngsfasen \u00e4r kr\u00e4vande och \u00e4garen \u00e4r beroende av medarbetarnas st\u00f6d.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"betriebsraumlichkeiten-vorbereiten\">F\u00f6rbered aff\u00e4rslokaler<\/h4>\n\n<p>\u00d6gat bed\u00f6mer med:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>Reng\u00f6ring av lokalerna<\/li>\n\n\n\n<li>Genomf\u00f6rande av f\u00f6rfallna renoveringar<\/li>\n\n\n\n<li>S\u00e4kerst\u00e4ll uppfyllandet av lagstadgade krav<\/li>\n\n\n\n<li>F\u00f6rs\u00e4ljning eller bortskaffande av \u00f6verfl\u00f6diga maskiner och inventarier<\/li>\n\n\n\n<li>Rensa upp i varulagret<\/li>\n<\/ul>\n\n<h4 class=\"wp-block-heading\" id=\"aktualisieren-sie-die-firmenwebsite\">Uppdatera f\u00f6retagets webbplats<\/h4>\n\n<p>Undvik en f\u00f6r\u00e5ldrad eller oprofessionell webbn\u00e4rvaro.<\/p>\n\n<h2 class=\"wp-block-heading\">V\u00e4rdering beroende p\u00e5 tillv\u00e4xtfas<\/h2>\n\n<h3 class=\"wp-block-heading\" id=\"strtps\">V\u00e4rdera startups<\/h3>\n\n<p>Att v\u00e4rdera startups \u00e4r \u00e4nnu mer subjektivt \u00e4n att v\u00e4rdera etablerade f\u00f6retag. Man v\u00e4rderar uteslutande ett l\u00f6fte f\u00f6r framtiden. Vi har sammanst\u00e4llt en <a href=\"https:\/\/www.nimbo.net\/sv\/kriterier-vardering-startups\">lista<\/a> med kriterier f\u00f6r v\u00e4rdering.   <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"wichtige-begriffe-pre-money-vs-post-money-bewertung\">Viktiga begrepp: Pre-Money vs Post-Money v\u00e4rdering<\/h4>\n\n<p>N\u00e4r en startup avslutar en finansieringsrunda fl\u00f6dar pengar in p\u00e5 startupens bankkonto. F\u00f6retagets v\u00e4rde \u00f6kar d\u00e4rmed med detta belopp. Det \u00e4r d\u00e4rf\u00f6r viktigt att det vid en v\u00e4rdering \u00e4r tydligt om man talar om en \u201cPre-Money\u201d v\u00e4rdering (v\u00e4rde f\u00f6re finansieringsrundan) eller \u201cPost-Money\u201d v\u00e4rdering (v\u00e4rde efter finansieringsrundan).<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"diskontsatzstartup\">F\u00f6rv\u00e4ntad avkastning fr\u00e5n investerare f\u00f6r startups<\/h4>\n\n<p>Startups \u00e4r riskfyllda investeringar. D\u00e4rf\u00f6r f\u00f6rv\u00e4ntar sig investerare en h\u00f6g avkastning. Ju tidigare finansieringsfasen \u00e4r, desto st\u00f6rre \u00e4r risken och d\u00e4rmed den f\u00f6rv\u00e4ntade avkastningen. Den f\u00f6rv\u00e4ntade avkastningen beh\u00f6vs f\u00f6r DCF- och VC-metoden.<\/p>\n\n<p><\/p>\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>Finansieringsfas<\/th><th>F\u00f6rv\u00e4ntad avkastning\/diskonteringsr\u00e4nta<\/th><th>F\u00f6rv\u00e4ntad \u00e5terbetalning om 5 \u00e5r<\/th><\/tr><tr><td>1 Seed Stage (grundande)<\/td><td>70\u201390 %<\/td><td>20x<\/td><\/tr><tr><td>2 Start-up Stage (f\u00f6re marknadsintroduktion)<\/td><td>50\u201370 %<\/td><td>10x<\/td><\/tr><tr><td>3 First Stage (Lyckad marknadsintr\u00e4de)<\/td><td>40\u201360 %<\/td><td>8x<\/td><\/tr><tr><td>4 Second Stage (Expansion)<\/td><td>35\u201350 %<\/td><td>6x<\/td><\/tr><tr><td>5 Later Stage (positivt kassafl\u00f6de)<\/td><td>30\u201340 %<\/td><td>5x<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<p>K\u00e4lla: <a href=\"https:\/\/venturevaluation.com\/wp-content\/uploads\/2011\/12\/Vortrag_IF-Unternehmensbewertung_2012.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Venture Valuation, Vortrag_IF-Unternehmensbewertung_2012.pdf, Folie 29<\/a><\/p>\n\n<h4 class=\"wp-block-heading\" id=\"discounted-cashflow-methode-fur-startups-dcf\">Diskonterad kassafl\u00f6desmetod f\u00f6r startups (DCF)<\/h4>\n\n<p>Den <a href=\"https:\/\/www.nimbo.net\/sv\/guide-till-foretagets-varde#DCF\">ovan beskrivna diskonterad kassafl\u00f6desmetod (DCF)<\/a> kan till\u00e4mpas p\u00e5 aff\u00e4rsplaner f\u00f6r startups. Den anv\u00e4nda diskonteringsr\u00e4ntan h\u00e4rleds fr\u00e5n investerarnas f\u00f6rv\u00e4ntade avkastning (se <a href=\"https:\/\/www.nimbo.net\/sv\/guide-till-foretagets-varde#diskontsatzstartup\">tabell<\/a> ovan).<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"venturecapital\">riskkapitalmetoden (VC-metoden)<\/h4>\n\n<p>Denna metod \u00e4r enklare \u00e4n DCF-metoden. Man anv\u00e4nder den enkla <a href=\"https:\/\/www.nimbo.net\/sv\/bewertungsmethoden-2#h-die-multiplemethode\">multipliceringsmetoden<\/a>. Denna \u00e4r egentligen bara l\u00e4mplig f\u00f6r etablerade, l\u00f6nsamma f\u00f6retag. Om f\u00f6retaget \u00e4nnu inte g\u00f6r n\u00e5gon vinst finns det inget att multiplicera. D\u00e4rf\u00f6r f\u00f6rest\u00e4ller man sig i ett f\u00f6rsta steg att allt g\u00e5r precis som i aff\u00e4rsplanen. Multipliceringsmetoden till\u00e4mpas sedan p\u00e5 de projicerade siffrorna om exempelvis 5 \u00e5r. Detta ger d\u00e5 det f\u00f6rv\u00e4ntade v\u00e4rdet om 5 \u00e5r. Om detta scenario intr\u00e4ffar precis s\u00e5 \u00e4r naturligtvis mycket os\u00e4kert. Det framtida v\u00e4rdet r\u00e4knas d\u00e4rf\u00f6r tillbaka till nutiden med investerarnas avkastningsf\u00f6rv\u00e4ntningar (se <a href=\"https:\/\/www.nimbo.net\/sv\/guide-till-foretagets-varde#diskontsatzstartup\">tabell<\/a> ovan).        <\/p>\n\n<p>Exempel: En startup (First Stage) f\u00f6rv\u00e4ntar sig exit om 5 \u00e5r. Den f\u00f6rv\u00e4ntade vinsten om 5 \u00e5r \u00e4r 1 miljon. Enligt multipliceringsmetoden skulle f\u00f6retaget d\u00e5 vara v\u00e4rt 6 miljoner. Investerarna f\u00f6rv\u00e4ntar sig en \u00e5rlig avkastning p\u00e5 40%. F\u00f6retagets v\u00e4rde m\u00e5ste allts\u00e5 \u00f6ka med 40% varje \u00e5r. Det m\u00e5ste r\u00e4knas tillbaka med f\u00f6ljande ber\u00e4kning: 6,0 miljoner \/ (1 + 40%) ^ 5 = 1,1 miljoner. F\u00f6retaget f\u00e5r d\u00e4rmed en Post-Money v\u00e4rdering p\u00e5 1,1 miljoner.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"glossar-wichtige-begriffe-in-der-unternehmensbewertung\">Ordlista: Viktiga begrepp inom f\u00f6retagsbed\u00f6mning<\/h2>\n\n<h4 class=\"wp-block-heading\" id=\"dcf\">DCF<\/h4>\n\n<p>St\u00e5r f\u00f6r \u201cDiscounted Cash Flow\u201d. DCF-metoden \u00e4r en ofta anv\u00e4nd v\u00e4rderingsmetod.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"derivativer-firmenwert\">Derivativt f\u00f6retagsv\u00e4rde<\/h4>\n\n<p>Det derivativa f\u00f6retagsv\u00e4rdet \u00e4r skillnaden mellan det faktiska k\u00f6peskillingen f\u00f6r ett f\u00f6retag och det faktiska substansv\u00e4rdet. V\u00e4rdet \u00e5terspeglas i bokf\u00f6ringen f\u00f6r ett f\u00f6retag som har k\u00f6pt ett annat f\u00f6retag. Ur bokf\u00f6ringssynpunkt motsvarar det \u201cGoodwill\u201d och \u201cF\u00f6retagsv\u00e4rde\u201d. Om v\u00e4rdet inte uppst\u00e5r genom en k\u00f6peskilling utan \u00e4r uppskattat talar man om det \u201corigin\u00e4ra f\u00f6retagsv\u00e4rdet\u201d.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"enterprise-value\">Enterprise Value<\/h4>\n\n<p>F\u00f6retagets totala v\u00e4rde ur aktie- och l\u00e5ngivarnas perspektiv. I motsats till eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;) dras inte skulder av. V\u00e4rdet till\u00e5ter en j\u00e4mf\u00f6relse mellan f\u00f6retag med olika kapitalstrukturer.<\/p>\n\n<h4 class=\"wp-block-heading\">Eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;)<\/h4>\n\n<p>V\u00e4rdet ur aktie\u00e4garnas perspektiv. Eget kapitalv\u00e4rde (&#8220;Equity Value&#8221;) motsvarar f\u00f6retagsv\u00e4rdet minus skulder plus kontantreserver.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"firmenwert\">F\u00f6retagsv\u00e4rde<\/h4>\n\n<p>I praktiken likst\u00e4lls detta v\u00e4rde ofta med f\u00f6retagets totala v\u00e4rde. Ur redovisningssynpunkt talar man om &#8220;f\u00f6retagsv\u00e4rde&#8221; endast om den del som vid en f\u00f6rs\u00e4ljning \u00f6verstiger substansv\u00e4rdet (se &#8220;Substansv\u00e4rde&#8221;). Liktydigt med \u201cGoodwill\u201d och \u201cderivativt f\u00f6retagsv\u00e4rde\u201d.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"goodwill\">Goodwill<\/h4>\n\n<p>Se \u201cDerivativt f\u00f6retagsv\u00e4rde\u201d.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"immaterielle-werte\">Immateriella v\u00e4rden<\/h4>\n\n<p>Immateriella tillg\u00e5ngar \u00e4r tillg\u00e5ngar som redovisas i ett f\u00f6retags balansr\u00e4kning, men som inte \u00e4r fysiskt gripbara. Dessa inkluderar till exempel patent, varum\u00e4rken och licenser. Summan utg\u00f6r f\u00f6retagets immateriella v\u00e4rde.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"materieller-wert\">Materiellt v\u00e4rde<\/h4>\n\n<p>Fysiskt gripbara tillg\u00e5ngar som till exempel maskiner och varulager.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"originarer-firmenwert\">Origin\u00e4rt f\u00f6retagsv\u00e4rde<\/h4>\n\n<p>Det ursprungliga f\u00f6retagsv\u00e4rdet \u00e4r skillnaden mellan det sj\u00e4lvuppskattade totala f\u00f6retagsv\u00e4rdet och substansv\u00e4rdet. Det kan inte \u00e5terspeglas i bokf\u00f6ringen. I motsats till det derivativa f\u00f6retagsv\u00e4rdet h\u00e4rleds v\u00e4rdet inte fr\u00e5n en faktisk f\u00f6rs\u00e4ljningspris utan \u00e4r uppskattat. Det f\u00e5r d\u00e4rf\u00f6r inte heller balanseras.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"pre-money-valuation\">Pre Money Valuation<\/h4>\n\n<p>Avser v\u00e4rdet p\u00e5 en startup f\u00f6re upptagandet av en ytterligare finansieringsrunda.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"post-money-valuation\">Post Money Valuation<\/h4>\n\n<p>Avser v\u00e4rdet p\u00e5 en startup <strong>efter att<\/strong> nya pengar har fl\u00f6dat in i f\u00f6retaget.<\/p>\n\n<h4 class=\"wp-block-heading\" id=\"substanzwert\">Substansv\u00e4rde<\/h4>\n\n<p>Se <a href=\"https:\/\/www.nimbo.net\/sv\/guide-till-foretagets-varde#Substanzwertmethode\">substansv\u00e4rdemetoden<\/a>.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"fragen\">Vanliga fr\u00e5gor och svar<\/h2>\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1649236458513\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Vad k\u00e4nnetecknar ett bra v\u00e4rderingsverktyg f\u00f6r f\u00f6retagsbed\u00f6mning?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Det b\u00f6r vara v\u00e4lstrukturerat, l\u00e4ttf\u00f6rst\u00e5eligt och sp\u00e5rbart, beakta olika branscher och f\u00f6retagsstorlekar och baseras p\u00e5 aktuella marknadsdata. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1649252586190\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">\u00c4r online f\u00f6retagsbed\u00f6mningar l\u00e4mpliga f\u00f6r alla?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Om det inte uttryckligen anges annat \u00e4r de INTE l\u00e4mpliga f\u00f6r en f\u00f6rsta indikation av startups, snabbv\u00e4xande f\u00f6retag och f\u00f6retag som g\u00f6r f\u00f6rlust eller \u00e4r f\u00f6ga l\u00f6nsamma. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1649252998470\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag: Vilken \u00e4r den b\u00e4sta metoden?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>De enskilda metoderna har styrkor och svagheter. Man b\u00f6r inte bara f\u00f6rlita sig p\u00e5 en metod. En blandning av olika metoder, genomspelade flera g\u00e5nger med varierande scenarier, ger en k\u00e4nsla f\u00f6r det m\u00f6jliga intervallet f\u00f6r f\u00f6retagets v\u00e4rde. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1643642373080\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Kan jag ber\u00e4kna f\u00f6retagets v\u00e4rde med en tumregel?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Ber\u00e4kna f\u00f6retagsv\u00e4rde tumregel 1. Multiplicera det genomsnittliga EBIT-resultatet de senaste tre \u00e5ren en g\u00e5ng med fyra och en g\u00e5ng med sex. Dra av f\u00f6retagets skulder fr\u00e5n resultaten. Du f\u00e5r ett intervall d\u00e4r ditt f\u00f6retagsv\u00e4rde ungef\u00e4r r\u00f6r sig.  <\/p>\n<p>Ber\u00e4kna f\u00f6retagsv\u00e4rde tumregel 2: Fundera p\u00e5 hur mycket en k\u00f6pare skulle kunna ta ut vinster fr\u00e5n f\u00f6retaget under de n\u00e4rmaste \u00e5ren. S\u00e4tt priset s\u00e5 att det kan amortera k\u00f6peskillingen inom 4 till 7 \u00e5r. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1663415500203\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Hur hanterar man fastigheter n\u00e4r man fastst\u00e4ller f\u00f6retagets v\u00e4rde?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Om man vill ber\u00e4kna v\u00e4rdet p\u00e5 ett f\u00f6retag som \u00e4ger fastigheter v\u00e4rderas dessa normalt separat och adderas sedan. Ofta, vid en f\u00f6rs\u00e4ljning, avskiljs fastigheterna f\u00f6rst och hyrs sedan ut till k\u00f6paren. I det h\u00e4r fallet justeras f\u00f6retagets historiska finansiella siffror genom att en hypotetisk, marknadsm\u00e4ssig hyra dras av. Utgifter f\u00f6r underh\u00e5ll av fastigheten kan d\u00e4remot l\u00e4ggas till vinsten. \u00c4r du inte s\u00e4ker p\u00e5 om du ska s\u00e4lja fastigheten tillsammans med f\u00f6retaget? En lista \u00f6ver <a href=\"https:\/\/www.nimbo.net\/unternehmen-mit-immobilie-verkaufen\">de faktorer<\/a> som ska beaktas.      <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1712576435996\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Vad \u00e4r det investerare \u00e4r s\u00e4rskilt uppm\u00e4rksamma p\u00e5 vid f\u00f6retagsv\u00e4rdering?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p><a href=\"https:\/\/www.nimbo.net\/sv\/firmenbewertung-investoren-kritische-faktoren\">L\u00e4nk<\/a> till listan med de 10 kritiska faktorer som investerare \u00e4r uppm\u00e4rksamma p\u00e5 vid en f\u00f6retagsv\u00e4rdering<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1712914538583\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Vad \u00e4r annorlunda med v\u00e4rderingen av ett franchisef\u00f6retag? <\/h4>\n<div class=\"rank-math-answer \">\n\n<p>H\u00e4r v\u00e4rderas inte bara ett enskilt f\u00f6retag, utan ett helt system. Vi har sammanst\u00e4llt <a href=\"https:\/\/www.nimbo.net\/sv\/guide-franchisegivare-vardering\">de viktigaste punkterna<\/a>.  <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1712926212800\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Vad \u00e4r justeringar? <\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Add-backs \u00e4r justeringar vid f\u00f6retagsv\u00e4rderingen som g\u00f6rs f\u00f6r att f\u00e5 ett r\u00e4ttvisare resultat. Vilka typer av add-backs som till\u00e4mpas kan variera fr\u00e5n fall till fall, beroende p\u00e5 f\u00f6retagets individuella omst\u00e4ndigheter.  <a href=\"https:\/\/www.nimbo.net\/sv\/justeringar-foretagsvardering\">En \u00f6versikt<\/a><\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1712928463551\" class=\"rank-math-list-item\">\n<h4 class=\"rank-math-question \">Vilka nyckeltal ger information om ett f\u00f6retags resultat?<\/h4>\n<div class=\"rank-math-answer \">\n\n<p>Ett f\u00f6retags prestanda kan bed\u00f6mas utifr\u00e5n en m\u00e4ngd olika nyckeltal som \u00e5terspeglar olika aspekter av f\u00f6retaget. Till \u00f6versikten \u00f6ver <a href=\"https:\/\/www.nimbo.net\/welche-kennzahlen-geben-auskunft-ueber-die-leistungsfaehigkeit-eines-unternehmens\">de viktigaste nyckeltalen<\/a> <\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>\u201cVad \u00e4r mitt f\u00f6retag egentligen v\u00e4rt?\u201d \u2013 Denna fr\u00e5ga syssels\u00e4tter m\u00e5nga f\u00f6retagare, oavsett om det g\u00e4ller f\u00f6rs\u00e4ljning, successionsplanering eller strategiska beslut. I den h\u00e4r omfattande guiden hittar du allt du beh\u00f6ver veta om ber\u00e4kningen av f\u00f6retagsv\u00e4rdet \u2013 praktiskt och med exempel. Inneh\u00e5llsf\u00f6rteckning R\u00e4tt mindset En f\u00f6retagsv\u00e4rdering \u00e4r inte en vetenskap, utan ber\u00e4ttelsen om en historia&#8230;<\/p>\n","protected":false},"author":1003,"featured_media":2042565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"right","_kad_post_sidebar_id":"sidebar-primary","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[400154],"tags":[],"class_list":["post-2041825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-leitfaden-sv"],"taxonomy_info":{"category":[{"value":400154,"label":"Leitfaden"}]},"featured_image_src_large":["https:\/\/www.nimbo.net\/wp-content\/uploads\/2024\/05\/Design-ohne-Titel.png",1023,1024,false],"author_info":{"display_name":"Marc Uhlmann","author_link":"https:\/\/www.nimbo.net\/sv\/author\/marc"},"comment_info":0,"category_info":[{"term_id":400154,"name":"Leitfaden","slug":"leitfaden-sv","term_group":0,"term_taxonomy_id":2000154,"taxonomy":"category","description":"","parent":0,"count":3,"filter":"raw","cat_ID":400154,"category_count":3,"category_description":"","cat_name":"Leitfaden","category_nicename":"leitfaden-sv","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/posts\/2041825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/users\/1003"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/comments?post=2041825"}],"version-history":[{"count":0,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/posts\/2041825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/media\/2042565"}],"wp:attachment":[{"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/media?parent=2041825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/categories?post=2041825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nimbo.net\/sv\/wp-json\/wp\/v2\/tags?post=2041825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}