BSE: ADANIGREEN - Adani Green Energy Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 6.94
CAGR EPS = 117.61%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6.94 * (1 + 117.61%) / (0.0433 * 2) = 174.5

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 215.05
Ebitda Yield = 0.3203
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 41.89
Debt = 630.6
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 630.6) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 7.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 7.41 * 5.94 + 0 = 0.4688
WACC = (41.89 / 630.6) * (100% - 0) * (1 - 0.21) + 0.4688 + 0 = 5.25
Terminal Value = Discount (215.05 * (1 + 0.3203) / (5.25 - 0.3203)) = 821.03
Company Value = ∑ (215.05 / (1 + 5.25) ^ 5) = 556.71
Price = (Terminal Value + Company Value) / Count shares = (821.03 + 556.71) / 1584030000 = 869.77

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -335.67
FCF Yield = 0.3302
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 41.89
Debt = 630.6
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 630.6) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 7.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 7.41 * 5.94 + 0 = 0.4688
WACC = (41.89 / 630.6) * (100% - 0) * (1 - 0.21) + 0.4688 + 0 = 5.25
Terminal Value = Discount (-335.67 * (1 + 0.3302) / (5.25 - 0.3302)) = -1244.97
Company Value = ∑ (-335.67 / (1 + 5.25) ^ 5) = -858.92
Price = (Terminal Value + Company Value) / Count shares = (-1244.97 + -858.92) / 1584030000 = -1328.19