BSE: WESTLIFE - Westlife Foodworld 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 = 4.45
CAGR EPS = 62.8%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 4.45 * (1 + 62.8%) / (0.0433 * 2) = 83.72

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) = 9.38
Ebitda Yield = 0.1892
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 = 1.09
Debt = 4.78
Market Cap = 131.59
Weight Debt = Market Cap / (Market Cap + Debt) = 131.59 / (131.59 + 4.78) = 0.9649
Weight Cost Debt = 100% - 0.9649 = 0.0351
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 = 1.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.66 * 5.94 + 0 = 0.1267
WACC = (1.09 / 4.78) * (100% - 0.9649) * (1 - 0.21) + 0.1267 + 0.9649 = 17.94
Terminal Value = Discount (9.38 * (1 + 0.1892) / (17.94 - 0.1892)) = 495.44
Company Value = ∑ (9.38 / (1 + 17.94) ^ 5) = 20.22
Price = (Terminal Value + Company Value) / Count shares = (495.44 + 20.22) / 155410000 = 3318.09

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) = 1.86
FCF Yield = 0.0867
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 = 1.09
Debt = 4.78
Market Cap = 131.59
Weight Debt = Market Cap / (Market Cap + Debt) = 131.59 / (131.59 + 4.78) = 0.9649
Weight Cost Debt = 100% - 0.9649 = 0.0351
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 = 1.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.66 * 5.94 + 0 = 0.1267
WACC = (1.09 / 4.78) * (100% - 0.9649) * (1 - 0.21) + 0.1267 + 0.9649 = 17.94
Terminal Value = Discount (1.86 * (1 + 0.0867) / (17.94 - 0.0867)) = 9.57
Company Value = ∑ (1.86 / (1 + 17.94) ^ 5) = 4.84
Price = (Terminal Value + Company Value) / Count shares = (9.57 + 4.84) / 155410000 = 92.72