{"id":3523,"date":"2025-02-01T06:00:00","date_gmt":"2025-01-31T21:00:00","guid":{"rendered":"https:\/\/rad-st.jp\/?p=3523"},"modified":"2024-11-01T08:30:49","modified_gmt":"2024-10-31T23:30:49","slug":"%e4%ba%8b%e6%a5%ad%e6%89%bf%e7%b6%99%e3%81%ab%e5%bf%85%e8%a6%81%e3%81%aa%e5%9f%ba%e7%a4%8e%e7%9f%a5%e8%ad%98%ef%bc%81%e3%80%8cebitda%e3%80%81ev%e3%80%81%e6%a0%aa%e5%bc%8f%e4%be%a1%e5%80%a4%e3%80%81","status":"publish","type":"post","link":"https:\/\/rad-st.jp\/?p=3523","title":{"rendered":"\u4e8b\u696d\u627f\u7d99\u306b\u5fc5\u8981\u306a\u57fa\u790e\u77e5\u8b58\uff01\u300cEBITDA\u3001EV\u3001\u682a\u5f0f\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u306e\u95a2\u4fc2\u6027\u3068\u8a08\u7b97\u65b9\u6cd5\u300d"},"content":{"rendered":"\n<p>\u4e8b\u696d\u627f\u7d99\u3084M&amp;A\u3001\u4f01\u696d\u8a55\u4fa1\u3092\u691c\u8a0e\u3059\u308b\u969b\u306b\u3001\u300cEBITDA\u300d\u300cEV\uff08\u4f01\u696d\u4fa1\u5024\uff09\u300d\u300c\u682a\u5f0f\u4fa1\u5024\u300d\u306a\u3069\u306e\u8ca1\u52d9\u6307\u6a19\u304c\u983b\u51fa\u3057\u307e\u3059\u304c\u3001\u305d\u306e\u610f\u5473\u3084\u95a2\u4fc2\u6027\u3092\u7406\u89e3\u3057\u3066\u304a\u304f\u3053\u3068\u306f\u91cd\u8981\u3067\u3059\u3002\u3053\u308c\u3089\u306e\u6307\u6a19\u306f\u4f01\u696d\u306e\u8a55\u4fa1\u306b\u304a\u3044\u3066\u8ef8\u3068\u306a\u308a\u3001\u6b63\u78ba\u306a\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b\u305f\u3081\u306b\u4f7f\u308f\u308c\u308b\u3082\u306e\u3067\u3059\u3002\u7279\u306b\u3001EBITDA\u306f\u4e8b\u696d\u306e\u53ce\u76ca\u529b\u3092\u793a\u3057\u3001EV\u306f\u5e02\u5834\u3067\u306e\u4f01\u696d\u4fa1\u5024\u306e\u5224\u65ad\u306b\u4e0d\u53ef\u6b20\u3067\u3059\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001EBITDA\u3001EV\u3001\u682a\u5f0f\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u306e\u5b9a\u7fa9\u3068\u7b97\u51fa\u65b9\u6cd5\u3001\u305d\u3057\u3066\u305d\u308c\u3089\u304c\u3069\u306e\u3088\u3046\u306b\u95a2\u9023\u3057\u3066\u3044\u308b\u306e\u304b\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<h3>1. EBITDA\uff08\u55b6\u696d\u5229\u76ca+\u6e1b\u4fa1\u511f\u5374\u8cbb\uff09\u3068\u306f\uff1f<\/h3>\n<p><strong>EBITDA<\/strong>\uff08Earnings Before Interest, Taxes, Depreciation, and Amortization\uff09\u306f\u3001\u5229\u606f\u30fb\u7a0e\u91d1\u30fb\u6e1b\u4fa1\u511f\u5374\u8cbb\u30fb\u511f\u5374\u524d\u306e\u5229\u76ca\u3092\u8868\u3057\u3001\u4f01\u696d\u306e\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e00\u3064\u306e\u6307\u6a19\u3068\u3057\u3066\u4f7f\u308f\u308c\u307e\u3059\u3002EBITDA\u306f\u3001\u4e8b\u696d\u305d\u306e\u3082\u306e\u304c\u3069\u308c\u3060\u3051\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u305f\u3081\u3001\u4ed6\u793e\u3068\u306e\u53ce\u76ca\u529b\u306e\u6bd4\u8f03\u306b\u9069\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><strong>\u7b97\u51fa\u5f0f<\/strong>\uff1a<\/p>\n<div class=\"contain-inline-size rounded-md border-[0.5px] border-token-border-medium relative bg-token-sidebar-surface-primary dark:bg-gray-950\">\n<div class=\"flex items-center text-token-text-secondary px-4 py-2 text-xs font-sans justify-between rounded-t-md h-9 bg-token-sidebar-surface-primary dark:bg-token-main-surface-secondary\">EBITDA = \u55b6\u696d\u5229\u76ca + \u6e1b\u4fa1\u511f\u5374\u8cbb<\/div>\n<div>\n<ul>\n<li><strong>\u6d3b\u7528\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a EBITDA\u306f\u6e1b\u4fa1\u511f\u5374\u8cbb\u3092\u9664\u3044\u305f\u300c\u55b6\u696d\u5229\u76ca\u300d\u306a\u306e\u3067\u3001\u8a2d\u5099\u6295\u8cc7\u306a\u3069\u306e\u8cbb\u7528\u306b\u3088\u308b\u5f71\u97ff\u3092\u9664\u5916\u3057\u3001\u4f01\u696d\u306e\u672c\u8cea\u7684\u306a\u53ce\u76ca\u529b\u3092\u8a55\u4fa1\u3067\u304d\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u7570\u306a\u308b\u696d\u754c\u3084\u56fd\u306e\u4f01\u696d\u3068\u306e\u6bd4\u8f03\u306b\u3082\u5229\u7528\u3057\u3084\u3059\u3044\u6307\u6a19\u3067\u3059\u3002<\/li>\n<\/ul>\n<h3>2. EV\uff08\u4f01\u696d\u4fa1\u5024\uff09\u3068\u306f\uff1f<\/h3>\n<p><strong>EV<\/strong>\uff08Enterprise Value\uff09\u306f\u3001\u4f01\u696d\u5168\u4f53\u306e\u5e02\u5834\u4fa1\u5024\u3092\u8868\u3059\u6307\u6a19\u3067\u3001\u300c\u4f01\u696d\u304c\u6301\u3064\u3059\u3079\u3066\u306e\u4fa1\u5024\u300d\u3092\u793a\u3057\u307e\u3059\u3002\u682a\u4e3b\u304c\u6301\u3064\u300c\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\u300d\u306b\u52a0\u3048\u3001\u4f01\u696d\u306e\u8ca0\u50b5\uff08\u6709\u5229\u5b50\u8ca0\u50b5\uff09\u3092\u5408\u7b97\u3057\u3001\u305d\u3053\u304b\u3089\u73fe\u9810\u91d1\u3092\u5f15\u304f\u3053\u3068\u3067\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li><strong>\u7b97\u51fa\u5f0f<\/strong>\uff1a\n<div class=\"contain-inline-size rounded-md border-[0.5px] border-token-border-medium relative bg-token-sidebar-surface-primary dark:bg-gray-950\">\n<div class=\"sticky top-9 md:top-[5.75rem]\">\u00a0<\/div>\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs language-makefile\">EV = \u682a\u5f0f\u6642\u4fa1\u7dcf\u984d + \u6709\u5229\u5b50\u8ca0\u50b5 - \u73fe\u9810\u91d1<\/code><\/div>\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs language-makefile\"><\/code><\/div>\n<\/div>\n<\/li>\n<li><strong>\u6d3b\u7528\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a EV\u306f\u4f01\u696d\u306e\u300c\u771f\u306e\u4fa1\u5024\u300d\u3092\u793a\u3059\u3082\u306e\u3068\u3055\u308c\u3001M&amp;A\u306a\u3069\u306b\u304a\u3044\u3066\u3001\u8cb7\u53ce\u6642\u306b\u4f01\u696d\u304c\u6301\u3064\u50b5\u52d9\u3084\u73fe\u9810\u91d1\u306e\u8a55\u4fa1\u3092\u542b\u3081\u305f\u4fa1\u683c\u4ea4\u6e09\u306e\u57fa\u6e96\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u4f01\u696d\u306e\u682a\u5f0f\u3092\u8cfc\u5165\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u8ca0\u50b5\u3082\u5f15\u304d\u53d7\u3051\u308b\u3053\u3068\u3092\u524d\u63d0\u3068\u3057\u3066\u3044\u308b\u305f\u3081\u3067\u3059\u3002<\/li>\n<\/ul>\n<h3>3. \u682a\u5f0f\u4fa1\u5024\u3068\u306f\uff1f<\/h3>\n<p><strong>\u682a\u5f0f\u4fa1\u5024<\/strong>\u306f\u3001\u4f01\u696d\u306e\u7d14\u8cc7\u7523\u4fa1\u5024\u3067\u3042\u308a\u3001\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u90e8\u5206\u3067\u3059\u3002\u4f01\u696d\u5168\u4f53\u306e\u4fa1\u5024\uff08EV\uff09\u304b\u3089\u6709\u5229\u5b50\u8ca0\u50b5\u3092\u5f15\u304d\u3001\u73fe\u9810\u91d1\u3092\u52a0\u7b97\u3059\u308b\u3053\u3068\u3067\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u682a\u5f0f\u4fa1\u5024\u306f\u3001\u6700\u7d42\u7684\u306b\u682a\u4e3b\u304c\u4fdd\u6709\u3059\u308b\u4fa1\u5024\u3092\u793a\u3057\u3001\u682a\u4fa1\u306e\u5206\u6790\u3084\u6295\u8cc7\u306e\u5224\u65ad\u6750\u6599\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li><strong>\u7b97\u51fa\u5f0f<\/strong>\uff1a\n<div class=\"contain-inline-size rounded-md border-[0.5px] border-token-border-medium relative bg-token-sidebar-surface-primary dark:bg-gray-950\">\n<div class=\"flex items-center text-token-text-secondary px-4 py-2 text-xs font-sans justify-between rounded-t-md h-9 bg-token-sidebar-surface-primary dark:bg-token-main-surface-secondary\">\u00a0<\/div>\n<div class=\"sticky top-9 md:top-[5.75rem]\">\u00a0<\/div>\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs\">\u682a\u5f0f\u4fa1\u5024 = EV + \u73fe\u9810\u91d1 - \u6709\u5229\u5b50\u8ca0\u50b5\n<\/code><\/div>\n<div dir=\"ltr\">\u00a0<\/div>\n<\/div>\n<\/li>\n<li><strong>\u6d3b\u7528\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a \u682a\u5f0f\u4fa1\u5024\u306f\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u8cc7\u7523\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u3082\u306e\u3067\u3001\u4e0a\u5834\u4f01\u696d\u3067\u306f\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\u306b\u4e00\u81f4\u3057\u307e\u3059\u3002\u4e8b\u696d\u627f\u7d99\u3084M&amp;A\u306b\u304a\u3044\u3066\u306f\u3001\u682a\u5f0f\u4fa1\u5024\u3092\u57fa\u306b\u682a\u4e3b\u9593\u306e\u516c\u5e73\u306a\u4fa1\u5024\u8a55\u4fa1\u3092\u884c\u3046\u305f\u3081\u306b\u5229\u7528\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>4. \u4f01\u696d\u4fa1\u5024\u3068\u306f\uff1f<\/h3>\n<p><strong>\u4f01\u696d\u4fa1\u5024<\/strong>\u3082EV\u3068\u6df7\u540c\u3055\u308c\u3084\u3059\u3044\u3067\u3059\u304c\u3001\u57fa\u672c\u7684\u306b\u306fEV\u306b\u73fe\u9810\u91d1\u3092\u52a0\u7b97\u3057\u305f\u3082\u306e\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002\u4f01\u696d\u4fa1\u5024\u306f\u3001\u4f1a\u793e\u304c\u6301\u3064\u7d14\u7c8b\u306a\u4fa1\u5024\u3092\u793a\u3057\u3001\u50b5\u52d9\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3082\u542b\u3081\u305f\u30c8\u30fc\u30bf\u30eb\u306a\u4fa1\u5024\u3068\u3057\u3066\u8a55\u4fa1\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li><strong>\u7b97\u51fa\u5f0f<\/strong>\uff1a\n<div class=\"contain-inline-size rounded-md border-[0.5px] border-token-border-medium relative bg-token-sidebar-surface-primary dark:bg-gray-950\">\n<div class=\"flex items-center text-token-text-secondary px-4 py-2 text-xs font-sans justify-between rounded-t-md h-9 bg-token-sidebar-surface-primary dark:bg-token-main-surface-secondary\">\u00a0<\/div>\n<div class=\"sticky top-9 md:top-[5.75rem]\">\u00a0<\/div>\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs\">\u4f01\u696d\u4fa1\u5024 = EV + \u73fe\u9810\u91d1\n<\/code><\/div>\n<div dir=\"ltr\">\u00a0<\/div>\n<\/div>\n<\/li>\n<li><strong>\u6d3b\u7528\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a \u4f01\u696d\u4fa1\u5024\u306f\u300c\u4f01\u696d\u305d\u306e\u3082\u306e\u306e\u7d14\u7c8b\u306a\u4fa1\u5024\u300d\u3067\u3042\u308a\u3001M&amp;A\u306e\u969b\u306e\u8cb7\u53ce\u4ea4\u6e09\u3067\u57fa\u6e96\u3068\u306a\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002\u4f01\u696d\u4fa1\u5024\u304c\u9ad8\u3044\u307b\u3069\u3001\u4f01\u696d\u304c\u751f\u307f\u51fa\u3059\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3084\u30ea\u30bf\u30fc\u30f3\u3082\u9ad8\u3044\u3068\u3055\u308c\u308b\u305f\u3081\u3001\u6295\u8cc7\u5224\u65ad\u306e\u6307\u6a19\u3068\u3057\u3066\u3082\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>5. \u5404\u6307\u6a19\u306e\u95a2\u4fc2\u6027\u306b\u3064\u3044\u3066<\/h3>\n<p>\u3053\u308c\u3089\u306e\u6307\u6a19\u306f\u305d\u308c\u305e\u308c\u7570\u306a\u308b\u5f79\u5272\u3092\u6301\u3061\u306a\u304c\u3089\u3082\u3001\u76f8\u4e92\u306b\u95a2\u9023\u3057\u5408\u3063\u3066\u3044\u307e\u3059\u3002\u4ee5\u4e0b\u306b\u3001\u5404\u6307\u6a19\u306e\u95a2\u4fc2\u6027\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<table>\n<thead>\n<tr>\n<th>\u6307\u6a19<\/th>\n<th>\u8a08\u7b97\u5f0f<\/th>\n<th>\u4e3b\u306a\u7528\u9014<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>EBITDA<\/td>\n<td>\u55b6\u696d\u5229\u76ca + \u6e1b\u4fa1\u511f\u5374\u8cbb<\/td>\n<td>\u53ce\u76ca\u529b\u306e\u628a\u63e1<\/td>\n<\/tr>\n<tr>\n<td>EV<\/td>\n<td>\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d + \u6709\u5229\u5b50\u8ca0\u50b5 &#8211; \u73fe\u9810\u91d1<\/td>\n<td>\u4f01\u696d\u5168\u4f53\u306e\u5e02\u5834\u4fa1\u5024<\/td>\n<\/tr>\n<tr>\n<td>\u682a\u5f0f\u4fa1\u5024<\/td>\n<td>EV + \u73fe\u9810\u91d1 &#8211; \u6709\u5229\u5b50\u8ca0\u50b5<\/td>\n<td>\u682a\u4e3b\u306e\u7d14\u8cc7\u7523\u4fa1\u5024<\/td>\n<\/tr>\n<tr>\n<td>\u4f01\u696d\u4fa1\u5024<\/td>\n<td>EV + \u73fe\u9810\u91d1<\/td>\n<td>\u7d14\u7c8b\u306a\u4f01\u696d\u306e\u30c8\u30fc\u30bf\u30eb\u4fa1\u5024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u3053\u308c\u3089\u306e\u6307\u6a19\u306f\u4e00\u3064\u3060\u3051\u3092\u53c2\u8003\u306b\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u8907\u6570\u306e\u6307\u6a19\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u4f01\u696d\u306e\u72b6\u614b\u3092\u628a\u63e1\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u4f01\u696d\u4fa1\u5024\u3092\u91cd\u8996\u3059\u308b\u969b\u306b\u306f\u3001\u8ca0\u50b5\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3082\u542b\u3081\u305f\u30c8\u30fc\u30bf\u30eb\u306a\u8996\u70b9\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<h3>6. EBITDA\u3068EV\u306e\u6d3b\u7528\u4f8b<\/h3>\n<p>\u4f8b\u3048\u3070\u3001EBITDA\u3092\u57fa\u6e96\u306b\u3057\u3066EV\u3092\u7b97\u51fa\u3059\u308b\u3053\u3068\u3067\u3001\u4f01\u696d\u306e\u55b6\u696d\u6d3b\u52d5\u304b\u3089\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u57fa\u306b\u3057\u305f\u4fa1\u5024\u8a55\u4fa1\u304c\u53ef\u80fd\u3067\u3059\u3002\u591a\u304f\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u304a\u3044\u3066\u306f\u3001EBITDA\u500d\u7387\uff08EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u3068\u3044\u3046\u6307\u6a19\u304c\u4f7f\u308f\u308c\u3001\u696d\u754c\u6a19\u6e96\u306e\u500d\u7387\u3092\u57fa\u306b\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n<p><strong>\u4f8b<\/strong><br \/>\u4f01\u696dA\u306eEBITDA\u304c10\u5104\u5186\u3067\u3001\u696d\u754c\u5e73\u5747\u306eEBITDA\u500d\u7387\u304c8\u500d\u3067\u3042\u308b\u3068\u3059\u308b\u3068\u3001\u4f01\u696dA\u306eEV\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002<\/p>\n<div class=\"contain-inline-size rounded-md border-[0.5px] border-token-border-medium relative bg-token-sidebar-surface-primary dark:bg-gray-950\">\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs language-makefile\">EV = EBITDA \u00d7 EBITDA\u500d\u7387\n<\/code><\/div>\n<div class=\"overflow-y-auto p-4\" dir=\"ltr\"><code class=\"!whitespace-pre hljs language-makefile\">EV = 10\u5104\u5186 \u00d7 8\u500d = 80\u5104\u5186\n<\/code><\/div>\n<\/div>\n<h3>7. \u5b9f\u52d9\u306b\u304a\u3051\u308b\u6307\u6a19\u306e\u6d3b\u7528\u65b9\u6cd5<\/h3>\n<p>\u3053\u308c\u3089\u306e\u6307\u6a19\u3092\u6d3b\u7528\u3059\u308b\u969b\u306e\u30dd\u30a4\u30f3\u30c8\u3092\u4ee5\u4e0b\u306b\u307e\u3068\u3081\u307e\u3059\u3002<\/p>\n<ul>\n<li><strong>\u4e8b\u696d\u627f\u7d99\u6642\u306e\u8a55\u4fa1<\/strong>\uff1a\u89aa\u65cf\u5185\u627f\u7d99\u3084\u5f93\u696d\u54e1\u627f\u7d99\u306e\u5834\u5408\u3001\u682a\u5f0f\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u3053\u3068\u3067\u682a\u5f0f\u8b72\u6e21\u306e\u57fa\u6e96\u3092\u8a2d\u5b9a\u3067\u304d\u307e\u3059\u3002<\/li>\n<li><strong>M&amp;A\u6642\u306e\u8cb7\u53ce\u4fa1\u683c\u306e\u6c7a\u5b9a<\/strong>\uff1a\u4f01\u696d\u4fa1\u5024\u3068EV\u3092\u57fa\u306b\u3001\u8ca0\u50b5\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8003\u616e\u3057\u305f\u7dcf\u5408\u7684\u306a\u8cb7\u53ce\u4fa1\u683c\u306e\u8a2d\u5b9a\u304c\u53ef\u80fd\u3067\u3059\u3002<\/li>\n<li><strong>\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3084\u6210\u9577\u6027\u306e\u6bd4\u8f03<\/strong>\uff1aEBITDA\u3092\u6d3b\u7528\u3057\u3001\u4ed6\u793e\u3068\u306e\u53ce\u76ca\u529b\u306e\u6bd4\u8f03\u3084\u6210\u9577\u6027\u306e\u5224\u65ad\u3092\u884c\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>8. \u3088\u304f\u3042\u308b\u8cea\u554f\uff08Q&amp;A\uff09<\/h3>\n<p><strong>Q1: EBITDA\u3068\u55b6\u696d\u5229\u76ca\u306e\u9055\u3044\u306f\u4f55\u3067\u3059\u304b\uff1f<\/strong><br \/>A: \u55b6\u696d\u5229\u76ca\u306f\u672c\u696d\u306e\u5229\u76ca\u3092\u793a\u3057\u307e\u3059\u304c\u3001EBITDA\u306f\u305d\u3053\u306b\u6e1b\u4fa1\u511f\u5374\u8cbb\u3092\u52a0\u3048\u308b\u3053\u3068\u3067\u3001\u8cc7\u672c\u306e\u6295\u8cc7\u52b9\u7387\u3092\u8003\u616e\u3057\u305f\u53ce\u76ca\u529b\u3092\u793a\u3057\u307e\u3059\u3002\u6e1b\u4fa1\u511f\u5374\u8cbb\u304c\u591a\u3044\u696d\u7a2e\u3084\u3001\u8a2d\u5099\u6295\u8cc7\u3092\u7a4d\u6975\u7684\u306b\u884c\u3046\u696d\u754c\u3067\u306f\u3001EBITDA\u304c\u3088\u308a\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3092\u53cd\u6620\u3059\u308b\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><strong>Q2: \u682a\u5f0f\u4fa1\u5024\u3068\u4f01\u696d\u4fa1\u5024\u306e\u9055\u3044\u306f\uff1f<\/strong><br \/>A: \u682a\u5f0f\u4fa1\u5024\u306f\u3001\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u7d14\u8cc7\u7523\u306e\u4fa1\u5024\u3067\u3059\u3002\u4e00\u65b9\u3001\u4f01\u696d\u4fa1\u5024\u306f\u8ca0\u50b5\u3082\u542b\u3081\u305f\u30c8\u30fc\u30bf\u30eb\u306a\u4f01\u696d\u306e\u4fa1\u5024\u3092\u793a\u3057\u307e\u3059\u3002\u682a\u4e3b\u3084\u50b5\u6a29\u8005\u3082\u542b\u3081\u305f\u300c\u4f01\u696d\u5168\u4f53\u306e\u4fa1\u5024\u300d\u3092\u8a55\u4fa1\u3057\u305f\u3044\u5834\u5408\u306b\u306f\u4f01\u696d\u4fa1\u5024\u3092\u4f7f\u3044\u3001\u682a\u4e3b\u5229\u76ca\u3092\u91cd\u8996\u3059\u308b\u969b\u306b\u306f\u682a\u5f0f\u4fa1\u5024\u3092\u53c2\u8003\u306b\u3057\u307e\u3059\u3002<\/p>\n<p><strong>Q3: EV\/EBITDA\u500d\u7387\u306f\u3069\u306e\u3088\u3046\u306b\u4f7f\u3044\u307e\u3059\u304b\uff1f<\/strong><br \/>A: EV\/EBITDA\u500d\u7387\u306f\u3001\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3068\u5e02\u5834\u4fa1\u5024\u3092\u6bd4\u8f03\u3059\u308b\u305f\u3081\u306e\u6307\u6a19\u3067\u3059\u3002\u696d\u754c\u5e73\u5747\u306eEV\/EBITDA\u500d\u7387\u3092\u57fa\u306b\u3001\u5bfe\u8c61\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3092\u8a55\u4fa1\u3057\u305f\u308a\u3001\u8cb7\u53ce\u4fa1\u683c\u306e\u76ee\u5b89\u3092\u7b97\u51fa\u3057\u305f\u308a\u3059\u308b\u969b\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>\u307e\u3068\u3081<\/h3>\n<p>EBITDA\u3001EV\u3001\u682a\u5f0f\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u306e\u95a2\u4fc2\u6027\u306f\u3001\u4e8b\u696d\u627f\u7d99\u3084M&amp;A\u3001\u4f01\u696d\u8a55\u4fa1\u306e\u5834\u9762\u3067\u975e\u5e38\u306b\u91cd\u8981\u306a\u5f79\u5272\u3092\u679c\u305f\u3057\u307e\u3059\u3002\u5404\u6307\u6a19\u3092\u7406\u89e3\u3057\u3001\u9069\u5207\u306b\u4f7f\u3044\u5206\u3051\u308b\u3053\u3068\u3067\u3001\u4f01\u696d\u4fa1\u5024\u306e\u628a\u63e1\u3084\u7a0e\u52d9\u5bfe\u7b56\u3001\u5c06\u6765\u306e\u6295\u8cc7\u5224\u65ad\u304c\u3088\u308a\u660e\u78ba\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002\u4e8b\u696d\u627f\u7d99\u3084M&amp;A\u306b\u5411\u3051\u305f\u6e96\u5099\u3068\u3057\u3066\u3001\u3053\u308c\u3089\u306e\u8ca1\u52d9\u6307\u6a19\u306b\u3064\u3044\u3066\u7406\u89e3\u3092\u6df1\u3081\u3001\u7d4c\u55b6\u306e\u5b89\u5b9a\u3068\u6301\u7d9a\u53ef\u80fd\u306a\u6210\u9577\u3092\u76ee\u6307\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u4e8b\u696d\u627f\u7d99\u3084M&amp;A\u3001\u4f01\u696d\u8a55\u4fa1\u3092\u691c\u8a0e\u3059\u308b\u969b\u306b\u3001\u300cEBITDA\u300d\u300cEV\uff08\u4f01\u696d\u4fa1\u5024\uff09\u300d\u300c\u682a\u5f0f\u4fa1\u5024\u300d\u306a\u3069\u306e\u8ca1\u52d9\u6307\u6a19\u304c\u983b\u51fa\u3057\u307e\u3059\u304c\u3001\u305d\u306e\u610f\u5473\u3084\u95a2\u4fc2\u6027\u3092\u7406\u89e3\u3057\u3066\u304a\u304f\u3053\u3068\u306f\u91cd\u8981\u3067\u3059\u3002\u3053\u308c\u3089\u306e\u6307\u6a19\u306f\u4f01\u696d\u306e\u8a55\u4fa1\u306b &#8230; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1292,1364],"tags":[1854,2214,2120,2219,2213,2221,2215,2218,824,2152,1471,421,2227,2226,1632,2216,2147,1459,1759,2224,1852,2222,1968,2217,2220,2223,2225,548,1368],"_links":{"self":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3523"}],"collection":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3523"}],"version-history":[{"count":1,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3523\/revisions"}],"predecessor-version":[{"id":3524,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3523\/revisions\/3524"}],"wp:attachment":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}