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本文首先净现值指标、内部收益率指标两方面介绍企业投资决策的理论,并把这一理论应用到惠州炼油公用工程,针对其实际情况,利用其总体设计的相关数据计算出生产成本、现金流量表,从而计算出内部收益率,对投资进行评价、衡量。根据对其生产运营期盈亏平衡点的分析,发现平衡点逐年降低,盈利能力逐年增强;通过原料变化、价格变化、原料价格同时变化、造价变化等几种情况对装置的敏感性进行分析,在上下变化10%范围内,装置的IRR仍能达到基准收益率要求,说明该投资决策可行。
In this paper, firstly, the theory of firm’s investment decision-making is introduced in two aspects of net present value index and internal rate of return index. The theory is applied to Huizhou Refinery Public Works. According to the actual situation, the paper uses the data of its overall design to calculate the production cost, cash Flow meter, which calculates the internal rate of return, the investment evaluation, measurement. According to the analysis of the breakeven point of its production and operation period, the balance point is reduced year by year, and its profitability is enhanced year by year. The sensitivity of the installation is analyzed through the changes of raw materials, price changes, the simultaneous changes of raw material prices, The IRR of the device can still reach the benchmark yield requirement within the range of 10% up and down, indicating that the investment decision is feasible.