BSE: JCHAC - Johnson Controls-Hitachi Air Conditioning India 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 = -27.84
CAGR EPS = -198.05%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -198.05% / 100) = 315.26

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) = 0.000848
Ebitda Yield = -1.33
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 = 0.1664
Debt = 1.93
Market Cap = 28.32
Weight Debt = Market Cap / (Market Cap + Debt) = 28.32 / (28.32 + 1.93) = 0.9362
Weight Cost Debt = 100% - 0.9362 = 0.0638
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) = 2.75
β = 1.71
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.71 * 5.94 + 0 = 0.1292
WACC = (0.1664 / 1.93) * (100% - 0.9362) * (1 - 0.21) + 0.1292 + 0.9362 = 6.87
Terminal Value = Discount (0.000848 * (1 + -1.33) / (6.87 - -1.33)) = -0.000143
Company Value = ∑ (0.000848 / (1 + 6.87) ^ 5) = 0.0527
Price = (Terminal Value + Company Value) / Count shares = (-0.000143 + 0.0527) / 27190000 = 1.93

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) = 12.8
FCF Yield = 0.4254
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 = 0.1664
Debt = 1.93
Market Cap = 28.32
Weight Debt = Market Cap / (Market Cap + Debt) = 28.32 / (28.32 + 1.93) = 0.9362
Weight Cost Debt = 100% - 0.9362 = 0.0638
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) = 2.75
β = 1.71
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.71 * 5.94 + 0 = 0.1292
WACC = (0.1664 / 1.93) * (100% - 0.9362) * (1 - 0.21) + 0.1292 + 0.9362 = 6.87
Terminal Value = Discount (12.8 * (1 + 0.4254) / (6.87 - 0.4254)) = 36.68
Company Value = ∑ (12.8 / (1 + 6.87) ^ 5) = 27.99
Price = (Terminal Value + Company Value) / Count shares = (36.68 + 27.99) / 27190000 = 2378.77