{"id":21837,"date":"2023-12-06T02:57:02","date_gmt":"2023-12-06T02:57:02","guid":{"rendered":"https:\/\/masterskills.org\/blog\/wacc-la-gi-cach-tinh-wacc-chuan-nhat.html"},"modified":"2023-12-22T04:56:28","modified_gmt":"2023-12-21T21:56:28","slug":"wacc-la-gi-cach-tinh-wacc-chuan-nhat","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/wacc-la-gi-cach-tinh-wacc-chuan-nhat.html","title":{"rendered":"WACC l\u00e0 g\u00ec? C\u00e1ch t\u00ednh WACC chu\u1ea9n nh\u1ea5t"},"content":{"rendered":"
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WACC l\u00e0 g\u00ec<\/strong>? \u00dd ngh\u0129a c\u1ee7a WACC l\u00e0 g\u00ec? C\u00f4ng th\u1ee9c t\u00ednh ra sao? H\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u qua b\u00e0i vi\u1ebft c\u1ee5 th\u1ec3 d\u01b0\u1edbi \u0111\u00e2y nh\u00e9!<\/p>\n

WACC l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n

WACC \u0111\u01b0\u1ee3c vi\u1ebft t\u1eaft t\u1eeb nh\u1eefng ch\u1eef c\u00e1i \u0111\u1ea7u ti\u00ean trong c\u1ee5m t\u1eeb ti\u1ebfng Anh Weighted Average Cost of Capital ch\u1ec9 ngu\u1ed3n chi ph\u00ed v\u1ed1n b\u00ecnh qu\u00e2n gia quy\u1ec1n. C\u0169ng c\u00f3 th\u1ec3 hi\u1ec3u r\u1eb1ng, \u0111\u00e2y l\u00e0 chi ph\u00ed s\u1eed d\u1ee5ng v\u1ed1n c\u1ee7a m\u1ed9t c\u00f4ng ty \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n d\u1ef1a tr\u00ean t\u1ef7 tr\u1ecdng t\u1ea5t c\u1ea3 c\u00e1c lo\u1ea1i v\u1ed1n m\u00e0 c\u00f4ng ty \u0111\u00f3 \u0111\u00e3 v\u00e0 \u0111ang s\u1eed d\u1ee5ng.<\/p>\n

Theo \u0111\u00f3, c\u00e1c lo\u1ea1i v\u1ed1n c\u1ee7a c\u00f4ng ty s\u1ebd bao g\u1ed3m: V\u1ed1n c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng, v\u1ed1n c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i, tr\u00e1i phi\u1ebfu, k\u1ec3 c\u1ea3 c\u00e1c kho\u1ea3n n\u1ee3 d\u00e0i h\u1ea1n kh\u00e1c\u2026 T\u1ea5t c\u1ea3 ch\u00fang s\u1ebd \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o t\u00ednh to\u00e1n trong WACC. Tuy nhi\u00ean, v\u00ec t\u00e0i ch\u00ednh c\u1ee7a m\u1ed9t doanh nghi\u1ec7p ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c ph\u00e2n th\u00e0nh 2 m\u1ea3ng l\u1edbn l\u00e0 n\u1ee3 v\u00e0 v\u1ed1n s\u1edf h\u1eefu, n\u00ean WACC \u2013 chi ph\u00ed trung b\u00ecnh \u0111\u1ec3 huy \u0111\u1ed9ng s\u1ed1 ti\u1ec1n \u0111\u00f3 ph\u1ea3i \u0111\u01b0\u1ee3c t\u00ednh theo t\u1ef7 l\u1ec7 c\u1ee7a t\u1eebng ngu\u1ed3n.<\/p>\n

Vai tr\u00f2 c\u1ee7a WACC l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n

Hi\u1ec3u \u0111\u01b0\u1ee3c WACC l\u00e0 g\u00ec, ch\u1eafc h\u1eb3n b\u1ea1n \u0111\u00e3 hi\u1ec3u \u0111\u01b0\u1ee3c ph\u1ea7n n\u00e0o vai tr\u00f2 c\u1ee7a n\u00f3. Song, ch\u00fang c\u00f2n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng b\u1edfi nhi\u1ec1u m\u1ee5c \u0111\u00edch sau \u0111\u00e2y:<\/p>\n

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\u201cWACC l\u00e0 y\u1ebfu t\u1ed1 quan tr\u1ecdng \u0111\u00f3ng vai tr\u00f2 l\u00e0 t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u \u0111\u1ec3 t\u00ednh gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n c\u1ee7a m\u1ed9t doanh nghi\u1ec7p\u201d<\/em><\/p>\n<\/blockquote>\n

Thu\u1eadt ng\u1eef n\u00e0y c\u0169ng \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 c\u1ee7a m\u1ed9t c\u00f4ng ty, t\u1ed5 ch\u1ee9c doanh nghi\u1ec7p. B\u1edfi, n\u00f3 gi\u1ed1ng nh\u01b0 m\u1ed9t lo\u1ea1i l\u1ee3i t\u1ee9c t\u1ed1i thi\u1ec3u v\u00e0 chi ph\u00ed c\u01a1 h\u1ed9i c\u1ee7a c\u00f4ng ty \u0111\u00f3;<\/p>\n

Ngo\u00e0i ra, nhi\u1ec1u doanh nghi\u1ec7p c\u0169ng th\u01b0\u1eddng s\u1eed d\u1ee5ng WACC \u0111\u1ec3 t\u00ednh m\u1ee9c l\u1ee3i t\u1ee9c th\u1ea5p nh\u1ea5t khi c\u1ea7n \u0111\u00e1nh gi\u00e1 vi\u1ec7c s\u00e1p nh\u1eadp v\u00e0 mua l\u1ea1i.<\/p>\n

C\u00f4ng th\u1ee9c t\u00ednh WACC chu\u1ea9n nh\u1ea5t<\/strong><\/span><\/h2>\n

C\u00f4ng th\u1ee9c t\u00ednh WACC \u2013 chi ph\u00ed s\u1eed d\u1ee5ng v\u1ed1n b\u00ecnh qu\u00e2n chu\u1ea9n nh\u1ea5t \u0111\u01b0\u1ee3c t\u00ednh nh\u01b0 sau:<\/p>\n

WACC = (E \/ V x Re) + ((D \/ V x Rd) x (1-T)<\/p>\n

Trong \u0111\u00f3:<\/p>\n

E l\u00e0 k\u00fd hi\u1ec7u cho gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu.<\/p>\n

V l\u00e0 t\u1ed5ng gi\u00e1 tr\u1ecb v\u1ed1n c\u1ee7a doanh nghi\u1ec7p bao g\u1ed3m v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 c\u1ea3 n\u1ee3.<\/p>\n

Re l\u00e0 k\u00fd hi\u1ec7u ch\u1ec9 chi ph\u00ed v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu hay t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn b\u1eaft bu\u1ed9c.<\/p>\n

D l\u00e0 lo\u1ea1i n\u1ee3 c\u1ee7a c\u00f4ng ty theo gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Rd bi\u1ec3u th\u1ecb chi ph\u00ed n\u1ee3 c\u1ee7a c\u00f4ng ty hay l\u00e3i su\u1ea5t \u0111\u1ebfn h\u1ea1n tr\u00ean n\u1ee3 hi\u1ec7n c\u00f3.<\/p>\n

C\u00f2n T l\u00e0 k\u00fd hi\u1ec7u cho thu\u1ebf.<\/p>\n

C\u00f4ng th\u1ee9c n\u00e0y s\u1ebd gi\u00fap c\u00e1c doanh nghi\u1ec7p x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c chi ph\u00ed c\u1ee7a t\u1eebng c\u1ea5u tr\u00fac v\u1ed1n d\u1ef1a tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu, n\u1ee3 v\u00e0 c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i m\u00e0 c\u00f4ng ty \u0111ang c\u00f3.<\/p>\n

\u00dd ngh\u0129a c\u1ee7a ch\u1ec9 s\u1ed1 WACC \u0111\u1ed1i v\u1edbi m\u1ed7i doanh nghi\u1ec7p<\/strong><\/span><\/h2>\n

WACC c\u00f3 r\u1ea5t nhi\u1ec1u \u00fd ngh\u0129a quan tr\u1ecdng \u0111\u1ed1i v\u1edbi m\u1ed9t c\u00f4ng ty, doanh nghi\u1ec7p, c\u1ee5 th\u1ec3 nh\u01b0 sau:<\/p>\n

D\u1ef1a tr\u00ean vi\u1ec7c t\u00ednh to\u00e1n chi ph\u00ed WACC, b\u1ea1n c\u00f3 th\u1ec3 bi\u1ebft \u0111\u01b0\u1ee3c m\u1ed9t c\u00f4ng ty s\u1ebd ph\u1ea3i b\u1ecf ra bao nhi\u00eau chi ph\u00ed cho m\u1ed7i \u0111\u1ed3ng ti\u1ec1n m\u00e0 h\u1ecd nh\u1eadn \u0111\u01b0\u1ee3c th\u00f4ng qua vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n.<\/p>\n

WACC ch\u00ednh l\u00e0 bi\u1ec3u th\u1ecb l\u1ee3i nhu\u1eadn c\u1ee7a ch\u1ee7 s\u1edf h\u1eefu v\u1ed1n (c\u1ed5 \u0111\u00f4ng) v\u00e0 ng\u01b0\u1eddi cho vay n\u1ee3. V\u00ec th\u1ebf, vi\u1ec7c t\u00ednh WACC s\u1ebd gi\u00fap c\u00e1c c\u1ed5 \u0111\u00f4ng c\u0169ng nh\u01b0 ng\u01b0\u1eddi cho vay n\u1eafm \u0111\u01b0\u1ee3c s\u1ed1 l\u1ee3i nhu\u1eadn m\u00e0 h\u1ecd s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb c\u00f4ng ty m\u00e0 h\u1ecd \u0111\u1ea7u t\u01b0.<\/p>\n

Ban l\u00e3nh \u0111\u1ea1o, c\u00e1c gi\u00e1m \u0111\u1ed1c c\u1ee7a c\u00f4ng ty c\u0169ng th\u01b0\u1eddng s\u1eed d\u1ee5ng WACC \u0111\u1ec3 \u0111\u01b0a ra nh\u1eefng quy\u1ebft \u0111\u1ecbnh n\u1ed9i b\u1ed9 c\u00f4ng ty. \u0110\u00f3 c\u00f3 th\u1ec3 l\u00e0 nh\u1eefng quy\u1ebft \u0111\u1ecbnh nh\u1eb1m x\u00e1c \u0111\u1ecbnh t\u00ednh kh\u1ea3 thi v\u1ec1 kinh t\u1ebf, v\u1ec1 vi\u1ec7c s\u00e1p nh\u1eadp v\u00e0 c\u01a1 h\u1ed9i m\u1edf r\u1ed9ng kh\u00e1c. WACC c\u0169ng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng cho c\u00e1c d\u00f2ng ti\u1ec1n v\u1edbi r\u1ee7i ro t\u01b0\u01a1ng t\u1ef1 nh\u01b0 c\u1ee7a c\u00f4ng ty n\u00f3i chung v\u00ec n\u00f3 c\u00f2n l\u00e0 1 t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u.<\/p>\n

Nh\u1edd c\u00f3 WACC, c\u00e1c c\u00f4ng ty s\u1ebd x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c n\u00ean hay kh\u00f4ng vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a m\u00ecnh ho\u1eb7c tr\u1ea3 c\u1ed5 t\u1ee9c thay v\u00ec \u0111\u1ea7u t\u01b0 v\u00e0o d\u1ef1 \u00e1n. Tr\u01b0\u1eddng h\u1ee3p n\u00e0y ch\u1ec9 x\u1ea3y ra khi c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 c\u00f3 t\u1ef7 l\u1ec7 ho\u00e0n v\u1ed1n n\u1ed9i b\u1ed9 th\u1ea5p h\u01a1n chi ph\u00ed WACC c\u1ee7a n\u00f3.<\/p>\n

C\u00e1ch s\u1eed d\u1ee5ng WACC nh\u01b0 th\u1ebf n\u00e0o?<\/strong><\/span><\/h2>\n

C\u00e1ch s\u1eed d\u1ee5ng WACC hi\u1ec7u qu\u1ea3 nh\u1ea5t m\u00e0 c\u00e1c nh\u00e0 ph\u00e2n t\u00edch ch\u1ee9ng kho\u00e1n th\u01b0\u1eddng \u00e1p d\u1ee5ng l\u00e0 \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0. \u0110\u1ed3ng th\u1eddi, khi c\u1ea7n \u0111\u00e1nh gi\u00e1 x\u00e1c \u0111\u1ecbnh n\u00ean mua c\u1ed5 phi\u1ebfu n\u00e0o, h\u1ecd c\u0169ng s\u1eed d\u1ee5ng WACC. Ch\u1eb3ng h\u1ea1n, trong vi\u1ec7c ph\u00e2n t\u00edch c\u00e1c d\u00f2ng ti\u1ec1n chi\u1ebft kh\u1ea5u, h\u1ecd c\u00f3 th\u1ec3 \u00e1p d\u1ee5ng c\u00f4ng th\u1ee9c t\u00ednh WACC \u0111\u1ec3 l\u00e0m t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u cho c\u00e1c lu\u1ed3ng ti\u1ec1n trong t\u01b0\u01a1ng lai. Vi\u1ec7c n\u00e0y nh\u1eb1m m\u1ee5c \u0111\u00edch l\u1ea5y \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng c\u1ee7a doanh nghi\u1ec7p.<\/p>\n

Ngo\u00e0i ra, WACC c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng nh\u01b0 m\u1ed9t c\u00e1ch t\u00ednh t\u1ef7 l\u1ec7 v\u01b0\u1ee3t r\u00e0o \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 hi\u1ec7u su\u1ea5t ROIC cho c\u00e1c c\u00f4ng ty v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0. Gi\u00e1 tr\u1ecb gia t\u0103ng kinh t\u1ebf (EVA) c\u0169ng \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n d\u1ef1a tr\u00ean chi ph\u00ed WACC n\u00e0y.<\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, WACC c\u0169ng c\u00f2n l\u00e0 d\u1ea5u hi\u1ec7u \u0111\u1ec3 xem c\u00f3 \u0111\u00e1ng \u0111\u1ea7u t\u01b0 hay kh\u00f4ng.<\/p>\n

Hi\u1ec3u \u0111\u01a1n gi\u1ea3n h\u01a1n m\u1ed9t ch\u00fat, WACC ch\u00ednh l\u00e0 t\u1ef7 l\u1ec7 l\u1ee3i nhu\u1eadn t\u1ed1i thi\u1ec3u c\u00f3 th\u1ec3 ch\u1ea5p nh\u1eadn \u0111\u01b0\u1ee3c m\u00e0 \u1edf \u0111\u00f3 c\u00f4ng ty s\u1ebd mang l\u1ea1i l\u1ee3i nhu\u1eadn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0. Theo \u0111\u00f3, \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh l\u1ee3i nhu\u1eadn c\u00e1 nh\u00e2n, b\u1ea1n ch\u1ec9 c\u1ea7n l\u1ea5y l\u1ee3i nhu\u1eadn c\u00f4ng ty tr\u1eeb \u0111i WACC (theo t\u1ec9 l\u1ec7 %).<\/p>\n

V\u00ed d\u1ee5: Gi\u00e1 s\u1eed m\u1ed9t c\u00f4ng ty mang l\u1ea1i l\u1ee3i nhu\u1eadn l\u00e0 t\u1ef7 l\u1ec7 20% v\u00e0 c\u00f3 chi ph\u00ed WACC l\u00e0 11%. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 c\u00f4ng ty \u0111ang \u0111\u01b0a \u0111\u1ebfn l\u1ee3i nhu\u1eadn kho\u1ea3ng 9% cho m\u1ed7i \u0111\u1ed3ng ti\u1ec1n m\u00e0 c\u00f4ng ty \u0111\u00f3 \u0111\u1ea7u t\u01b0. Hi\u1ec3u theo m\u1ed9t c\u00e1ch kh\u00e1c, v\u1edbi m\u1ed7i \u0111\u1ed3ng ti\u1ec1n \u0111\u1ea7u t\u01b0, chi ti\u00eau, c\u00f4ng ty n\u00e0y \u0111ang t\u1ea1o ra 9% gi\u00e1 tr\u1ecb l\u1ee3i nhu\u1eadn cho b\u1ea3n th\u00e2n m\u00ecnh. Th\u1ebf nh\u01b0ng, n\u1ebfu l\u1ee3i nhu\u1eadn c\u1ee7a c\u00f4ng ty th\u1ea5p h\u01a1n WACC sau khi t\u00ednh to\u00e1n, th\u00ec c\u00f4ng ty s\u1ebd ph\u1ea3i m\u1ea5t \u0111i gi\u00e1 tr\u1ecb l\u1ee3i nhu\u1eadn n\u00e0y.<\/p>\n

\u00a0C\u1ee5 th\u1ec3, n\u1ebfu c\u00f4ng ty c\u00f3 l\u1ee3i nhu\u1eadn l\u00e0 11% v\u00e0 WACC l\u00e0 17% th\u00ec c\u00f4ng ty s\u1ebd m\u1ea5t h\u1eb3n 6% cho m\u1ed7i \u0111\u1ed3ng ti\u1ec1n \u0111\u1ea7u t\u01b0. V\u00e0 th\u00f4ng qua \u0111\u00f3, c\u00f4ng ty c\u1ee7a b\u1ea1n c\u1ea7n c\u00e2n nh\u1eafc xem c\u00f3 n\u00ean \u0111\u1ea7u t\u01b0 hay s\u1ebd b\u1ecf ti\u1ec1n v\u00e0o n\u01a1i kh\u00e1c ti\u1ec1m n\u0103ng t\u1ed1t h\u01a1n.<\/p>\n

Cu\u1ed1i c\u00f9ng, WACC c\u00f2n c\u00f3 th\u1ec3 ph\u1ee5c v\u1ee5 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ef1c hi\u1ec7n c\u00e1c vi\u1ec7c nh\u01b0 ki\u1ec3m tra th\u1ef1c t\u1ebf h\u1eefu \u00edch. Song, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 trung b\u00ecnh th\u01b0\u1eddng hi\u1ebfm khi g\u1eb7p r\u1eafc r\u1ed1i trong vi\u1ec7c t\u00ednh to\u00e1n WACC. B\u1edfi, \u0111\u00e2y l\u00e0 m\u1ed9t ph\u00e9p \u0111o ph\u1ee9c t\u1ea1p \u0111\u00f2i h\u1ecfi nhi\u1ec1u th\u00f4ng tin chi ti\u1ebft v\u1ec1 m\u1ed9t c\u00f4ng ty, doanh nghi\u1ec7p. Theo \u0111\u00f3, vi\u1ec7c t\u00ednh to\u00e1n WACC l\u00e0 g\u00ec c\u00f3 th\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec3u h\u01a1n v\u1ec1 ch\u00fang c\u0169ng nh\u01b0 t\u1ea7m quan tr\u1ecdng m\u00e0 ch\u00fang mang l\u1ea1i.<\/p>\n

WACC c\u00f3 nh\u1eefng h\u1ea1n ch\u1ebf g\u00ec?<\/strong><\/span><\/h2>\n

C\u00f4ng th\u1ee9c t\u00ednh WACC nh\u00ecn th\u00ec d\u1ec5 hi\u1ec3u v\u00e0 d\u1ec5 t\u00ednh to\u00e1n nh\u01b0ng th\u1ef1c t\u1ebf kh\u00f4ng ph\u1ea3i nh\u01b0 v\u1eady. B\u1edfi, c\u00e1c y\u1ebfu t\u1ed1 nh\u1ea5t \u0111\u1ecbnh tham gia v\u00e0o c\u00f4ng th\u1ee9c n\u00e0y kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng l\u00e0 gi\u00e1 tr\u1ecb nh\u1ea5t qu\u00e1n, nh\u1eefng ng\u01b0\u1eddi kh\u00e1c nhau s\u1ebd c\u00f3 nh\u1eefng b\u00e1o c\u00e1o con s\u1ed1 th\u1ef1c t\u1ebf kh\u00e1c nhau v\u00ec nh\u1eefng l\u00fd do ri\u00eang. V\u00ec th\u1ebf, n\u1ebfu mu\u1ed1n \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty hay kh\u00f4ng, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u1ea3i t\u00ednh to\u00e1n b\u1eb1ng m\u1ed9t c\u00e1i nh\u00ecn s\u00e2u s\u1eafc, th\u00f4ng qua nh\u1eefng s\u1ed1 li\u1ec7u kh\u00e1c nhau \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh ch\u00ednh x\u00e1c h\u01a1n.<\/p>\n

Tr\u00ean \u0111\u00e2y l\u00e0 nh\u1eefng th\u00f4ng tin chia s\u1ebb gi\u00fap b\u1ea1n hi\u1ec3u th\u00eam WACC l\u00e0 g\u00ec<\/strong>, \u00fd ngh\u0129a, vai tr\u00f2 v\u00e0 c\u00e1ch t\u00ednh c\u1ee7a n\u00f3. Hy v\u1ecdng r\u1eb1ng, qua n\u1ed9i dung b\u00e0i vi\u1ebft, b\u1ea1n \u0111\u00e3 n\u1eafm \u0111\u01b0\u1ee3c cho m\u00ecnh l\u01b0\u1ee3ng ki\u1ebfn th\u1ee9c c\u1ea7n thi\u1ebft, gi\u00fap b\u1ea1n hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 m\u1ed9t thu\u1eadt ng\u1eef kinh t\u1ebf m\u1edbi. Vi\u1ec7c t\u00ednh WACC \u0111\u00fang c\u00f4ng th\u1ee9c chu\u1ea9n v\u00e0 ch\u00ednh x\u00e1c s\u1ebd t\u1ea1o ti\u1ec1n \u0111\u1ec1 v\u1eefng ch\u1eafc \u0111\u1ec3 c\u00e1c c\u00f4ng ty, doanh nghi\u1ec7p x\u00e2y d\u1ef1ng v\u00e0 m\u1edf r\u1ed9ng chi\u1ebfn l\u01b0\u1ee3c kinh doanh. \u0110\u1ed3ng th\u1eddi, nh\u1edd \u0111\u00f3, c\u00e1c c\u00f4ng ty n\u00e0y c\u0169ng g\u00f3p ph\u1ea7n c\u1ee7a m\u00ecnh v\u00e0o s\u1ef1 t\u0103ng tr\u01b0\u1edfng chung c\u1ee7a n\u1ec1n kinh t\u1ebf \u0111\u1ea5t n\u01b0\u1edbc.<\/p>\n

Pha L\u00ea<\/strong><\/p>\n

<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

WACC l\u00e0 g\u00ec<\/strong>? \u00dd ngh\u0129a c\u1ee7a WACC l\u00e0 g\u00ec? C\u00f4ng th\u1ee9c t\u00ednh ra sao? H\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u qua b\u00e0i vi\u1ebft c\u1ee5 th\u1ec3 d\u01b0\u1edbi \u0111\u00e2y nh\u00e9!<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[429],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21837"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=21837"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21837\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=21837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=21837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=21837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}