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Données historiques sur Vinci
Pays: Zone euro.
FR
Sector: Autoroutes et infrastructures.
| Prix | 115,05 |
| Nº d'actions | 589.048.647 |
| Capitalisation | 67.770.046.837 |
| Valeur comptable par action | 47,73 |
| Prix / Valeur comptable | 2,41 |
| EV / EBITDA | 7,07 |
| EV / EBIT | 6,74 |
| 2023 | |||
|---|---|---|---|
| BPA | 7,98 | ||
| PER | 14,42 | ||
| DPA | 4,5000 | ||
| RPD | 3,91% |
| Taux de croissance | 5 années | 10 années | 20 années | 30 années |
|---|---|---|---|---|
| Revenu | 9,60% | 5,49% | 6,90% | #¡DIV/0! |
| EBITDA | 10,63% | 7,37% | 9,99% | #¡DIV/0! |
| EBIT | 10,41% | 7,92% | 10,16% | #¡DIV/0! |
| BPA ordinaire | 9,84% | 9,37% | 9,08% | #¡DIV/0! |
| Dividende ordinaire | 11,00% | 9,78% | 10,69% | #¡DIV/0! |
| Valeur comptable par action | 8,25% | 7,34% | #¡DIV/0! | #¡DIV/0! |
| CASH-FLOW OPÉRATIONNEL | 15,44% | 11,19% | 8,66% | #¡DIV/0! |
| Ratios moyens | 5 années | 10 années | 20 années | 30 années |
|---|---|---|---|---|
| PER moyen | 21,65 | 18,80 | 16,40 | |
| RD media | 3,09% | 3,18% | 3,57% | |
| Prix / valeur comptable moyenne | 2,46 | 2,42 | 2,49 | |
| EV / EBITDA moyen | 9,46 | 8,89 | 8,19 | |
| EV /EBIT moyenne | 16,62 | 14,58 | 12,99 | |
| ROA moyen | 3,10% | 3,43% | 3,26% | |
| ROE moyen | 13,40% | 14,36% | 15,75% | |
| ROCE moyen | 11,81% | 12,85% | 13,68% |
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenu | 68.838,00 | 61.675,00 | 49.396,00 | 43.234,00 | 48.053,00 | 43.519,00 | 40.248,00 | 38.073,00 | 38.518,00 | 38.703,00 | 40.338,00 | 38.634,00 | 36.955,90 | 33.375,80 | 32.459,60 | 33.930,30 | 30.427,80 | 25.634,30 | 21.543,00 | 19.520,20 | 18.110,80 | 17.553,80 | 17.172,40 | 17.331,30 | 15.723,80 |
| % | 11.61% | 24.86% | 14.25% | -10.03% | 10.42% | 8.13% | 5.71% | -1.16% | -0.48% | -4.05% | 4.41% | 4.54% | 10.73% | 2.82% | -4.33% | 11.51% | 18.7% | 18.99% | 10.36% | 7.78% | 3.17% | 2.22% | -0.92% | 10.22% | |
| Coût des ventes | |||||||||||||||||||||||||
| % | |||||||||||||||||||||||||
| Marge brute | |||||||||||||||||||||||||
| % | |||||||||||||||||||||||||
| EBITDA | 11.870,00 | 10.102,00 | 7.657,00 | 5.630,00 | 8.704,00 | 7.162,00 | 6.678,00 | 6.121,00 | 5.748,00 | 6.334,00 | 5.827,00 | 5.544,00 | 5.411,70 | 5.159,80 | 4.958,80 | 5.006,00 | 4.601,00 | 3.860,20 | 2.173,80 | 1.838,30 | 1.768,60 | 1.675,90 | 1.559,20 | 1.459,70 | 1.311,90 |
| % | 17.5% | 31.93% | 36% | -35.32% | 21.53% | 7.25% | 9.1% | 6.49% | -9.25% | 8.7% | 5.1% | 2.44% | 4.88% | 4.05% | -0.94% | 8.8% | 19.19% | 77.58% | 18.25% | 3.94% | 5.53% | 7.48% | 6.82% | 11.27% | |
| Marge EBITDA / Ventes | 17,24% | 16,38% | 15,50% | 13,02% | 18,11% | 16,46% | 16,59% | 16,08% | 14,92% | 16,37% | 14,45% | 14,35% | 14,64% | 15,46% | 15,28% | 14,75% | 15,12% | 15,06% | 10,09% | 9,42% | 9,77% | 9,55% | 9,08% | 8,42% | 8,34% |
| EBIT (Operating profit) | 8.071,00 | 6.489,00 | 4.438,00 | 2.459,00 | 5.664,00 | 4.920,00 | 4.550,00 | 4.118,00 | 3.715,00 | 4.243,00 | 3.767,00 | 3.667,00 | 3.601,00 | 3.429,10 | 3.144,80 | 3.275,90 | 3.006,10 | 2.494,30 | 1.484,30 | 1.208,20 | 1.166,00 | 1.067,30 | 1.058,40 | 966,00 | 786,70 |
| % | 24.38% | 46.21% | 80.48% | -56.59% | 15.12% | 8.13% | 10.49% | 10.85% | -12.44% | 12.64% | 2.73% | 1.83% | 5.01% | 9.04% | -4% | 8.98% | 20.52% | 68.05% | 22.85% | 3.62% | 9.25% | 0.84% | 9.57% | 22.79% | |
| Marge EBIT / Ventes | 11,72% | 10,52% | 8,98% | 5,69% | 11,79% | 11,31% | 11,30% | 10,82% | 9,64% | 10,96% | 9,34% | 9,49% | 9,74% | 10,27% | 9,69% | 9,65% | 9,88% | 9,73% | 6,89% | 6,19% | 6,44% | 6,08% | 6,16% | 5,57% | 5,00% |
| Résultat net ordinaire | 4.702,00 | 4.417,00 | 2.597,00 | 1.242,00 | 3.260,00 | 2.983,00 | 2.747,00 | 2.505,00 | 2.046,00 | 2.486,00 | 1.962,00 | 1.917,00 | 1.904,30 | 1.775,90 | 1.596,00 | 1.591,40 | 1.461,00 | 1.270,40 | 871,20 | 731,60 | 541,40 | 477,80 | 453,50 | 3.481,00 | 6.226,00 |
| Résultat net total | 4.702,00 | 4.417,00 | 2.597,00 | 1.242,00 | 3.260,00 | 2.983,00 | 2.747,00 | 2.505,00 | 2.046,00 | 2.486,00 | 1.962,00 | 1.917,00 | 1.904,30 | 1.775,90 | 1.596,00 | 1.591,40 | 1.461,00 | 1.270,40 | 871,20 | 731,60 | 541,40 | 477,80 | 453,50 | 423,00 | 272,70 |
| BPA ordinaire | 7,98 | 7,49 | 4,38 | 2,11 | 5,39 | 4,99 | 4,65 | 4,25 | 3,48 | 4,21 | 3,26 | 3,32 | 3,37 | 3,21 | 3,06 | 3,21 | 3,01 | 2,70 | 2,20 | 1,90 | 1,40 | 1,23 | 1,33 | 10,99 | 38,66 |
| % | 6.54% | 71% | 107.58% | -60.85% | 8.02% | 7.31% | 9.41% | 22.13% | -17.34% | 29.14% | -1.81% | -1.48% | 4.98% | 4.9% | -4.67% | 6.64% | 11.48% | 22.73% | 15.79% | 35.71% | 13.82% | -7.52% | -87.9% | -71.57% | |
| BPA extraordinaire | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| BPA total | 7,98 | 7,49 | 4,38 | 2,11 | 5,39 | 4,99 | 4,65 | 4,25 | 3,48 | 4,21 | 3,26 | 3,32 | 3,37 | 3,21 | 3,06 | 3,21 | 3,01 | 2,70 | 2,20 | 1,90 | 1,40 | 1,23 | 1,33 | 1,34 | 1,69 |
| Dividende ordinaire | 4,5000 | 4,0000 | 2,9000 | 2,0400 | 2,0400 | 2,6700 | 2,4500 | 2,1000 | 1,8400 | 1,7700 | 1,7700 | 1,7700 | 1,7700 | 1,6700 | 1,6200 | 1,6200 | 1,5200 | 1,3300 | 1,0000 | 0,8750 | 0,5900 | 0,4500 | 0,4250 | 0,4125 | 0,4000 |
| % | 12.5% | 37.93% | 42.16% | -0% | -23.6% | 8.98% | 16.67% | 14.13% | 3.95% | -0% | -0% | -0% | 5.99% | 3.09% | -0% | 6.58% | 14.29% | 33% | 14.29% | 48.31% | 31.11% | 5.88% | 3.03% | 3.12% | |
| Pay-out | 56,37% | 53,37% | 66,15% | 96,66% | 37,87% | 53,48% | 52,73% | 49,40% | 52,92% | 42,01% | 54,28% | 53,31% | 52,54% | 51,97% | 52,88% | 50,51% | 50,56% | 49,27% | 45,56% | 46,08% | 42,07% | 36,46% | 32,04% | 3,75% | 1,03% |
| Dividende extraordinaire | 0,4500 | ||||||||||||||||||||||||
| Dividende total | 4,5000 | 4,0000 | 2,9000 | 2,0400 | 2,0400 | 2,6700 | 2,4500 | 2,1000 | 1,8400 | 2,2200 | 1,7700 | 1,7700 | 1,7700 | 1,6700 | 1,6200 | 1,6200 | 1,5200 | 1,3300 | 1,0000 | 0,8750 | 0,5900 | 0,4500 | 0,4250 | 0,4125 | 0,4000 |
| Observations | |||||||||||||||||||||||||
| Valeur comptable par action | 47,73 | 44,01 | 38,63 | 35,45 | 33,77 | 32,11 | 30,13 | 27,94 | 25,69 | 24,98 | 23,50 | 22,58 | 22,80 | 22,26 | 18,83 | 16,97 | 15,69 | 16,62 | 11,71 | 7,83 | 6,18 | 5,39 | 5,44 | 4,27 | 5,66 |
| % | 8.45% | 13.93% | 8.97% | 4.97% | 5.17% | 6.57% | 7.84% | 8.76% | 2.84% | 6.3% | 4.07% | -0.96% | 2.43% | 18.22% | 10.96% | 8.16% | -5.6% | 41.93% | 49.55% | 26.7% | 14.66% | -0.92% | 27.4% | -24.56% | |
| Dette nette | 16.126,00 | 18.536,00 | 19.266,00 | 17.989,00 | 21.654,00 | 15.554,00 | 14.001,00 | 13.938,00 | 12.436,00 | 13.821,00 | 14.104,00 | 12.527,00 | 12.589,60 | 13.059,70 | 13.684,10 | 15.370,80 | 16.303,30 | 14.796,40 | 1.579,00 | 2.433,10 | 2.447,50 | 2.680,60 | 2.427,90 | 1.855,40 | 2.070,50 |
| % | -13% | -3.79% | 7.1% | -16.93% | 39.22% | 11.09% | 0.45% | 12.08% | -10.02% | -2.01% | 12.59% | -0.5% | -3.6% | -4.56% | -10.97% | -5.72% | 10.18% | 837.07% | -35.1% | -0.59% | -8.7% | 10.41% | 30.86% | -10.39% | |
| Dette nette / EBITDA | 1,36 | 1,83 | 2,52 | 3,20 | 2,49 | 2,17 | 2,10 | 2,28 | 2,16 | 2,18 | 2,42 | 2,26 | 2,33 | 2,53 | 2,76 | 3,07 | 3,54 | 3,83 | 0,73 | 1,32 | 1,38 | 1,60 | 1,56 | 1,27 | 1,58 |
| Dette nette / CF Exploitation | 1,53 | 1,97 | 2,47 | 2,69 | 3,05 | 3,02 | 3,27 | 3,21 | 2,75 | 3,80 | 3,87 | 3,24 | 3,20 | 3,86 | 3,34 | 3,71 | 4,55 | 5,94 | 0,94 | 1,32 | 1,78 | 2,20 | 2,21 | 1,80 | #¡DIV/0! |
| ROA | 3,99% | 3,97% | 2,61% | 1,36% | 3,58% | 3,96% | 3,94% | 3,69% | 3,29% | 3,94% | 3,11% | 3,11% | 3,14% | 3,15% | 3,04% | 3,07% | 2,95% | 2,68% | 3,36% | 3,19% | 2,49% | 2,37% | 2,25% | 18,80% | 35,16% |
| ROE | 16,73% | 17,03% | 11,35% | 5,95% | 15,95% | 15,55% | 15,42% | 15,21% | 13,53% | 16,86% | 13,87% | 14,70% | 14,77% | 14,43% | 16,27% | 18,90% | 19,16% | 16,24% | 18,75% | 24,26% | 22,69% | 22,91% | 24,36% | 257,51% | 682,53% |
| ROCE | 16,76% | 13,53% | 10,08% | 6,00% | 12,67% | 13,91% | 14,05% | 13,31% | 13,42% | 14,79% | 13,28% | 13,95% | 13,74% | 13,15% | 13,04% | 13,43% | 12,27% | 10,67% | 21,52% | 19,98% | 21,66% | 20,22% | 22,05% | 26,18% | 22,67% |
| CASH-FLOW OPÉRATIONNEL | 10.540,00 | 9.387,00 | 7.806,00 | 6.675,00 | 7.090,00 | 5.142,00 | 4.280,00 | 4.346,00 | 4.522,00 | 3.633,00 | 3.648,00 | 3.865,00 | 3.937,60 | 3.385,30 | 4.099,60 | 4.140,90 | 3.583,50 | 2.491,60 | 1.676,20 | 1.844,10 | 1.376,70 | 1.219,20 | 1.096,20 | 1.028,80 | |
| % | 12.28% | 20.25% | 16.94% | -5.85% | 37.88% | 20.14% | -1.52% | -3.89% | 24.47% | -0.41% | -5.61% | -1.84% | 16.31% | -17.42% | -1% | 15.55% | 43.82% | 48.65% | -9.1% | 33.95% | 12.92% | 11.22% | 6.55% | ||
| Cash-flow d'investissement | -3.977,00 | -5.318,00 | -5.902,00 | -2.442,00 | -5.972,00 | -3.617,00 | -3.046,00 | -4.777,00 | -1.938,00 | -338,00 | -4.783,00 | -2.529,00 | -2.071,50 | -2.575,00 | -2.141,60 | -2.322,40 | -3.667,50 | -10.384,10 | -1.401,60 | -1.269,50 | -1.006,40 | -1.563,80 | -1.206,70 | -1.059,50 | |
| % | 25.22% | 9.89% | -141.69% | 59.11% | -65.11% | -18.75% | 36.24% | -146.49% | -473.37% | 92.93% | -89.13% | -22.09% | 19.55% | -20.24% | 7.79% | 36.68% | 64.68% | -640.87% | -10.41% | -26.14% | 35.64% | -29.59% | -13.89% | ||
| Cash-flow Financement | -3.433,00 | -2.836,00 | -3.259,00 | -42,00 | -656,00 | -48,00 | -1.200,00 | -182,00 | -3.109,00 | -2.116,00 | -1.247,00 | -2.080,00 | -463,40 | -1.009,90 | -1.542,20 | -838,20 | -793,70 | 8.206,80 | -213,70 | -490,60 | -171,90 | -223,80 | 15,40 | -43,70 | |
| % | -21.05% | 12.98% | -7659.52% | 93.6% | -1266.67% | 96% | -559.34% | 94.15% | -46.93% | -69.69% | 40.05% | -348.86% | 54.11% | 34.52% | -83.99% | -5.61% | -109.67% | 3940.34% | 56.44% | -185.4% | 23.19% | -1553.25% | 135.24% | ||
| Variation du taux de change | 76,00 | 74,00 | 117,00 | -112,00 | 102,00 | -398,00 | 42,00 | 1.164,00 | 112,00 | -641,00 | 1.588,00 | -24,00 | 40,30 | 449,00 | 26,90 | -60,90 | -15,90 | 179,80 | 28,10 | 2,40 | 34,80 | 315,60 | -203,10 | 144,50 | |
| Cash flow net | 3.206,00 | 1.307,00 | -1.238,00 | 4.079,00 | 564,00 | 1.079,00 | 76,00 | 551,00 | -413,00 | 538,00 | -794,00 | -768,00 | 1.443,00 | 249,40 | 442,70 | 919,40 | -893,60 | 494,10 | 89,00 | 86,40 | 233,20 | -252,80 | -298,20 | 70,10 | |
| % | 145.29% | 205.57% | -130.35% | 623.23% | -47.73% | 1319.74% | -86.21% | 233.41% | -176.77% | 167.76% | -3.39% | -153.22% | 478.59% | -43.66% | -51.85% | 202.89% | -280.85% | 455.17% | 3.01% | -62.95% | 192.25% | 15.22% | -525.39% | ||
| CFE-CFI-PID | 6.563,00 | 4.069,00 | 1.904,00 | 4.233,00 | 1.118,00 | 1.525,00 | 1.234,00 | -431,00 | 2.584,00 | 3.295,00 | -1.135,00 | 1.336,00 | 1.866,10 | 810,30 | 1.958,00 | 1.818,50 | -84,00 | -7.892,50 | 274,60 | 574,60 | 370,30 | -344,60 | -110,50 | -30,70 | 0,00 |
| Paiement des dividendes | 2.293,00 | 1.830,00 | 1.528,00 | 694,00 | 1.504,00 | 1.391,00 | 1.248,00 | 1.084,00 | 1.019,00 | 1.267,00 | 993,00 | 979,00 | 946,80 | 902,90 | 816,00 | 765,10 | 664,50 | 472,00 | 321,70 | 287,20 | 142,00 | 131,30 | 119,50 | 59,10 | 0,00 |
| Nombre d'actions au 31 décembre | 589.048.647 | 589.387.330 | 592.362.376 | 588.519.218 | 605.237.689 | 597.515.984 | 591.216.948 | 589.305.520 | 588.453.075 | 590.098.637 | 601.697.972 | 577.347.352 | 565.276.672 | 552.620.447 | 520.957.550 | 496.162.480 | 485.976.788 | 470.622.930 | 396.888.636 | 385.241.208 | 386.061.932 | 387.103.012 | 341.855.952 | 316.618.404 | 161.044.092 |
| Prix maximum | 117,06 | 103,74 | 96,95 | 107,35 | 102,50 | 88,80 | 88,77 | 69,80 | 62,60 | 57,36 | 48,35 | 40,85 | 45,48 | 44,98 | 40,50 | 51,15 | 62,42 | 50,25 | 37,40 | 25,08 | 17,10 | 18,73 | 19,00 | 16,50 | 12,75 |
| Prix minimum | 93,40 | 80,74 | 75,38 | 54,76 | 70,20 | 69,98 | 64,48 | 49,93 | 43,40 | 39,65 | 33,25 | 31,23 | 28,46 | 33,01 | 24,60 | 21,70 | 45,65 | 35,05 | 24,65 | 16,03 | 12,69 | 13,05 | 13,85 | 9,60 | 9,63 |
| PER maximum | 15,62 | 23,66 | 45,94 | 19,93 | 20,53 | 19,11 | 20,88 | 20,08 | 14,86 | 17,59 | 14,56 | 12,13 | 14,15 | 14,68 | 12,63 | 17,01 | 23,12 | 22,89 | 19,69 | 17,88 | 13,85 | 14,12 | 1,73 | 0,43 | |
| PER moyen | 14,04 | 21,04 | 40,83 | 15,05 | 17,30 | 17,09 | 18,03 | 17,22 | 12,58 | 14,88 | 12,29 | 10,70 | 11,50 | 12,73 | 10,15 | 12,12 | 20,02 | 19,43 | 16,34 | 14,66 | 12,07 | 11,98 | 1,49 | 0,34 | |
| PER minimum | 12,46 | 18,42 | 35,72 | 10,17 | 14,06 | 15,06 | 15,17 | 14,36 | 10,30 | 12,16 | 10,01 | 9,27 | 8,86 | 10,77 | 7,67 | 7,22 | 16,91 | 15,97 | 12,98 | 11,43 | 10,28 | 9,84 | 1,26 | 0,25 | |
| RD% maximum | 4,28% | 3,59% | 2,71% | 3,73% | 3,80% | 3,50% | 3,26% | 3,69% | 4,08% | 4,46% | 5,32% | 5,67% | 5,87% | 4,91% | 6,59% | 7,00% | 2,91% | 2,85% | 3,55% | 3,68% | 3,55% | 3,26% | 2,98% | 4,17% | |
| RD% moyenne | 3,85% | 3,19% | 2,41% | 2,81% | 3,20% | 3,13% | 2,81% | 3,16% | 3,45% | 3,77% | 4,49% | 5,00% | 4,77% | 4,25% | 5,29% | 4,99% | 2,52% | 2,42% | 2,94% | 3,02% | 3,09% | 2,76% | 2,57% | 3,30% | |
| RD% minimum | 3,42% | 2,80% | 2,10% | 1,90% | 2,60% | 2,76% | 2,37% | 2,64% | 2,83% | 3,09% | 3,66% | 4,33% | 3,67% | 3,60% | 4,00% | 2,97% | 2,13% | 1,99% | 2,34% | 2,35% | 2,63% | 2,27% | 2,17% | 2,42% | |
| Prix / Valeur comptable maximum | 2,66 | 2,69 | 2,73 | 3,18 | 3,19 | 2,95 | 3,18 | 2,72 | 2,51 | 2,44 | 2,14 | 1,79 | 2,04 | 2,39 | 2,39 | 3,26 | 3,76 | 4,29 | 4,78 | 4,06 | 3,17 | 3,44 | 4,45 | 2,91 | |
| Prix / valeur comptable moyenne | 2,39 | 2,39 | 2,43 | 2,40 | 2,69 | 2,64 | 2,74 | 2,33 | 2,12 | 2,06 | 1,81 | 1,58 | 1,66 | 2,07 | 1,92 | 2,32 | 3,25 | 3,64 | 3,96 | 3,33 | 2,76 | 2,92 | 3,85 | 2,30 | |
| Prix / Valeur comptable minimum | 2,12 | 2,09 | 2,13 | 1,62 | 2,19 | 2,32 | 2,31 | 1,94 | 1,74 | 1,69 | 1,47 | 1,37 | 1,28 | 1,75 | 1,45 | 1,38 | 2,75 | 2,99 | 3,15 | 2,59 | 2,36 | 2,40 | 3,24 | 1,69 | |
| EV / EBITDA maximum | 8,66 | 10,50 | 13,40 | 9,75 | 10,83 | 10,04 | 10,85 | 9,32 | 8,00 | 8,23 | 7,51 | 6,68 | 7,51 | 7,77 | 7,29 | 9,06 | 11,69 | 11,61 | 9,40 | 6,85 | 5,54 | 6,21 | 5,72 | 5,56 | |
| EV / EBITDA moyen | 7,97 | 9,62 | 12,26 | 7,97 | 9,47 | 9,20 | 9,68 | 8,30 | 7,11 | 7,33 | 6,69 | 6,17 | 6,58 | 7,11 | 6,46 | 7,47 | 10,64 | 9,96 | 8,02 | 5,86 | 5,03 | 5,50 | 5,12 | 4,73 | |
| EV / EBITDA minimum | 7,28 | 8,73 | 11,13 | 6,19 | 8,10 | 8,36 | 8,51 | 7,28 | 6,21 | 6,44 | 5,87 | 5,66 | 5,65 | 6,44 | 5,63 | 5,88 | 9,58 | 8,31 | 6,65 | 4,88 | 4,52 | 4,80 | 4,51 | 3,90 |
BPA / Dividende / PER moyen
Évolution de la dette
CFE-CFI-PID = Cash Flow de Explotación - Cash Flow de Inversión - Pago de Intereses de la Deuda. Comparar esta cifra con el "Pago por dividendos" da una idea aproximada (no exacta) de la capacidad de la empresa para mantener y/o incrementar su dividendo actual. Algunas empresas incluyen el pago de intereses de la deuda en el CFE y otras en el de CFF (Financiación). Si está en el CFE el cálculo es CFE-CFI y ya no hay que restar nada más, lógicamente.
El EBITDA y el EBIT de las empresas españolas lo calculo sin hacer ningún ajuste por motivos extraordinarios.
