BSE: MAHABANK - Bank of Maharashtra

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 = 5.75
CAGR EPS = 53.05%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 53.58 + (53.58 * 53.05% / 100) = 82

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) = 241.21
Ebitda Yield = 0.1321
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 = 106.72
Debt = 107.66
Market Cap = 192.33
Weight Debt = Market Cap / (Market Cap + Debt) = 192.33 / (192.33 + 107.66) = 0.6411
Weight Cost Debt = 100% - 0.6411 = 0.3589
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 = 2.25
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.25 * 5.94 + 0 = 0.1616
WACC = (106.72 / 107.66) * (100% - 0.6411) * (1 - 0.21) + 0.1616 + 0.6411 = 77.91
Terminal Value = Discount (241.21 * (1 + 0.1321) / (77.91 - 0.1321)) = 23.68
Company Value = ∑ (241.21 / (1 + 77.91) ^ 5) = 203.31
Price = (Terminal Value + Company Value) / Count shares = (23.68 + 203.31) / 7081370000 = 32.05

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) = 1399.24
FCF Yield = 0.654
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 = 106.72
Debt = 107.66
Market Cap = 192.33
Weight Debt = Market Cap / (Market Cap + Debt) = 192.33 / (192.33 + 107.66) = 0.6411
Weight Cost Debt = 100% - 0.6411 = 0.3589
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 = 2.25
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.25 * 5.94 + 0 = 0.1616
WACC = (106.72 / 107.66) * (100% - 0.6411) * (1 - 0.21) + 0.1616 + 0.6411 = 77.91
Terminal Value = Discount (1399.24 * (1 + 0.654) / (77.91 - 0.654)) = 1038.3
Company Value = ∑ (1399.24 / (1 + 77.91) ^ 5) = 456.53
Price = (Terminal Value + Company Value) / Count shares = (1038.3 + 456.53) / 7081370000 = 211.09