BSE: ZOMATO - Zomato 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 = 0.4044
CAGR EPS = 16.37%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.4044 * (1 + 16.37%) / (0.0433 * 2) = 5.43

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) = -1.29
Ebitda Yield = -0.2454
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 = 0.69
Debt = 0.404
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.404) = 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) = 2.82
β = 2.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.85 * 5.94 + 0 = 0.1974
WACC = (0.69 / 0.404) * (100% - 0) * (1 - 0.21) + 0.1974 + 0 = 134.93
Terminal Value = Discount (-1.29 * (1 + -0.2454) / (134.93 - -0.2454)) = -0.0086
Company Value = ∑ (-1.29 / (1 + 134.93) ^ 5) = -2.49
Price = (Terminal Value + Company Value) / Count shares = (-0.0086 + -2.49) / 8680260000 = -0.2884

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) = 8.17
FCF Yield = 0.1366
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 = 0.69
Debt = 0.404
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.404) = 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) = 2.82
β = 2.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.85 * 5.94 + 0 = 0.1974
WACC = (0.69 / 0.404) * (100% - 0) * (1 - 0.21) + 0.1974 + 0 = 134.93
Terminal Value = Discount (8.17 * (1 + 0.1366) / (134.93 - 0.1366)) = 0.1071
Company Value = ∑ (8.17 / (1 + 134.93) ^ 5) = 3.93
Price = (Terminal Value + Company Value) / Count shares = (0.1071 + 3.93) / 8680260000 = 0.4654