{"id":50104,"date":"2026-08-19T09:02:32","date_gmt":"2026-08-19T00:02:32","guid":{"rendered":"https:\/\/blog.agentsoft.co.kr\/index.php\/2026\/08\/19\/50104\/"},"modified":"2026-08-19T09:02:32","modified_gmt":"2026-08-19T00:02:32","slug":"%ec%8b%a0%ec%9a%a9%eb%b6%84%ec%84%9d%ec%82%ac-2%eb%b6%80-2%ea%b3%bc%eb%aa%a9-3%ea%b3%bc%eb%aa%a9","status":"publish","type":"post","link":"https:\/\/blog.agentsoft.co.kr\/index.php\/2026\/08\/19\/50104\/","title":{"rendered":"\uc2e0\uc6a9\ubd84\uc11d\uc0ac 2\ubd80 (2\uacfc\ubaa9, 3\uacfc\ubaa9)"},"content":{"rendered":"

<\/p>\n

\ubaa9\ucc28<\/strong><\/p>\n

\uc5c6\uc74c<\/p>\n

\ubcf8\ubb38\ub0b4\uc6a9<\/strong><\/p>\n

* \ubd84\uc11d\uc758 \ubc94\uc704 : \uacbd\uc601\ubd84\uc11d > \uc7ac\ubb34\ubd84\uc11d > \uc7ac\ubb34\uc81c\ud45c\ubd84\uc11d (\uacbd\uc7ac\ud45c)
\n* \uc790\uc0b0 \uc704\ud5d8 : \ube44\uc720\ub3d9\uc790\uc0b0 > \uc720\ub3d9\uc790\uc0b0 \u2192 \uc720\ub3d9\uc790\uc0b0\uc740 \uc548\uc815\uc131 \ub192, \uc704\ud5d8 \ub0ae, \uc218\uc775\uc131 \ub0ae
\n* \uc870\ub2ec \uc704\ud5d8 : \uc720\ub3d9\ubd80\ucc44 > \ube44\uc720\ub3d9\ubd80\ucc44 > \uc790\uae30\uc790\ubcf8
\n* \ubcf4\uc218\uc131 : \ud604\uae08\ube44\uc728 > \ub2f9\uc88c\ube44\uc728 > \uc720\ub3d9\ube44\uc728 \u2192 \ubd84\ubaa8\uac00 \ubaa8\ub450 \uc720\ub3d9\ubd80\ucc44 \/ \ud604\uae08\ube44\uc728\uc774 \uc81c\uc77c \ubcf4\uc218\uc801
\n* EBITDA : EBIT + Dep = N\/I+I+T+DEP \/ * OCF = EBIT(1-t) + Dep \u2192 \uc885\ud569\uc2e0\uc6a9\ud3c9\uac00\uc5d0\uc120 CF\ud45c \uc218\uce58 \uc774\uc6a9<\/p>\n

<\uc720\ub3d9\uc131\ubd84\uc11d>
\n * \uc720\ub3d9\ube44\uc728 \/ \ub2f9\uc88c\ube44\uc728 \/ \ud604\uae08\ube44\uc728 ( \uc720\ub3d9\uc790\uc0b0,\ub2f9\uc88c\uc790\uc0b0,\ud604\uae08\uc131\uc790\uc0b0 \/ \uc720\ub3d9\ubd80\ucc44 ) \uc720\ub3d9\uc790\uc0b0 : \ub2f9\uc88c\uc790\uc0b0 + \uc7ac\uace0\uc790\uc0b0
\n* \uc21c\uc6b4\uc804\uc790\ubcf8(NWC)\ube44\uc728( \uc720\ub3d9\uc790\uc0b0-\uc720\ub3d9\ubd80\ucc44 \/ \ucd1d\uc790\uc0b0V ) <\/p>\n

<\ub808\ubc84\ub9ac\uc9c0\ubd84\uc11d>
\n* \ubd80\ucc44\ube44\uc728(B\/S) \/ * \uc790\uae30\uc790\ubcf8\ube44\uc728(S\/V) \/ * \ucc28\uc785\uae08\uc758\uc874\ub3c4(\uc7a5\ub2e8\uae30\ucc28\uc785\uae08+\ud68c\uc0ac\ucc44 \/ V) \/ *EBITDA\/I \ube44\uc728
\n* \ucc28\uc785\uae08\ud3c9\uade0\uc774\uc790\uc728(\uc774\uc790\ube44\uc6a9 \/ \uc7a5\ub2e8\uae30\ucc28\uc785\uae08+\ud68c\uc0ac\ucc44 \ud3c9\uade0\uc794\uc561) <\/p>\n

* \uc774\uc790 \ubcf4\uc0c1\ubc30\uc728(EBIT \/ I)
\n* \uc21c\uc774\uc790 \ubcf4\uc0c1\ubc30\uc728 : [ EBIT \/ (\uc774\uc790\ube44\uc6a9-\uc774\uc790\uc218\uc775) ]
\n* \ud604\uae08\ud750\ub984\uc774\uc790 \ubcf4\uc0c1\ube44\uc728 : [ (\uc601\uc5c5CF+\uc774\uc790\ube44\uc6a9) \/ \uc774\uc790\ube44\uc6a9 ] \uc774\uc790\ube44\uc6a9\uacfc \uc774\uc790\uc758\uc9c0\uae09\uc740 \ub2e4\ub974\ub2e4.
\n* \uae08\uc735\ube44\uc735\ubaa9\ud45c\ubc30\uc728 : \uc601\uc5c5CF\/\uc774\uc790\ube44\uc6a9
\n* \uae08\uc735\ube44\uc6a9\ubd80\ub2f4\ub960 : \uc774\uc790\ube44\uc6a9 \/ \ub9e4\ucd9c\uc561<\/p>\n

<\uc790\ubcf8\ubc30\ubd84 \uc548\uc815\uc131\ubd84\uc11d>
\n* \ube44\uc720\ub3d9\ube44\uc728=\uace0\uc815\ube44\uc728 ( FA \/ S ) \/ *\ube44\uc720\ub3d9\uc7a5\uae30\uc801\ud569\ub960=\uace0\uc815\uc7a5\uae30\uc801\ud569\ub960 ( FA \/ S + \ube44\uc720\ub3d9\ubd80\ucc44 ) \u201cFA:\ube44\uc720\ub3d9\uc790\uc0b0\u201d<\/p>\n

\ucd9c\ucc98 : \ud574\ud53c\ucea0\ud37c\uc2a4<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\ubaa9\ucc28 \uc5c6\uc74c \ubcf8\ubb38\ub0b4\uc6a9 * \ubd84\uc11d\uc758 \ubc94\uc704 : \uacbd\uc601\ubd84\uc11d > \uc7ac\ubb34\ubd84\uc11d > \uc7ac\ubb34\uc81c\ud45c\ubd84\uc11d (\uacbd\uc7ac\ud45c) * \uc790\uc0b0 \uc704\ud5d8 : \ube44\uc720\ub3d9\uc790\uc0b0 > \uc720\ub3d9\uc790\uc0b0 \u2192 \uc720\ub3d9\uc790\uc0b0\uc740 \uc548\uc815\uc131 \ub192, \uc704\ud5d8 \ub0ae, \uc218\uc775\uc131 \ub0ae * \uc870\ub2ec \uc704\ud5d8 : \uc720\ub3d9\ubd80\ucc44 > \ube44\uc720\ub3d9\ubd80\ucc44 > \uc790\uae30\uc790\ubcf8 * \ubcf4\uc218\uc131 : \ud604\uae08\ube44\uc728 > \ub2f9\uc88c\ube44\uc728 > \uc720\ub3d9\ube44\uc728 \u2192 \ubd84\ubaa8\uac00 \ubaa8\ub450 \uc720\ub3d9\ubd80\ucc44 \/ \ud604\uae08\ube44\uc728\uc774 \uc81c\uc77c \ubcf4\uc218\uc801 * EBITDA […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[48494,35618,60118,60119,30662,60116,60115,60120,60117],"class_list":["post-50104","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-48494","tag-35618","tag-60118","tag-60119","tag-30662","tag-60116","tag-60115","tag-60120","tag-60117"],"_links":{"self":[{"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/posts\/50104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/comments?post=50104"}],"version-history":[{"count":0,"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/posts\/50104\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/media?parent=50104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/categories?post=50104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.agentsoft.co.kr\/index.php\/wp-json\/wp\/v2\/tags?post=50104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}