BSE: IDEA - Vodafone Idea Limited

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -6.23
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 10.35 + (10.35 * 8.66% / 100) = 11.25

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) = 401.51
Ebitda Yield = 0.1861
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 = 255.43
Debt = 2076.3
Market Cap = 385.54
Weight Debt = Market Cap / (Market Cap + Debt) = 385.54 / (385.54 + 2076.3) = 0.1566
Weight Cost Debt = 100% - 0.1566 = 0.8434
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) = 2.82
β = 1.55
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.55 * 5.94 + 0 = 0.1203
WACC = (255.43 / 2076.3) * (100% - 0.1566) * (1 - 0.21) + 0.1203 + 0.1566 = 9.72
Terminal Value = Discount (401.51 * (1 + 0.1861) / (9.72 - 0.1861)) = 3370.78
Company Value = ∑ (401.51 / (1 + 9.72) ^ 5) = 1086.91
Price = (Terminal Value + Company Value) / Count shares = (3370.78 + 1086.91) / 50119820000 = 88.94

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) = 2452.26
FCF Yield = 0.6642
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 = 255.43
Debt = 2076.3
Market Cap = 385.54
Weight Debt = Market Cap / (Market Cap + Debt) = 385.54 / (385.54 + 2076.3) = 0.1566
Weight Cost Debt = 100% - 0.1566 = 0.8434
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) = 2.82
β = 1.55
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.55 * 5.94 + 0 = 0.1203
WACC = (255.43 / 2076.3) * (100% - 0.1566) * (1 - 0.21) + 0.1203 + 0.1566 = 9.72
Terminal Value = Discount (2452.26 * (1 + 0.6642) / (9.72 - 0.6642)) = 4526.33
Company Value = ∑ (2452.26 / (1 + 9.72) ^ 5) = 3962.39
Price = (Terminal Value + Company Value) / Count shares = (4526.33 + 3962.39) / 50119820000 = 169.37