MOEX: GECO - ГЕНЕТИКО

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 = 0
CAGR EPS = 42%
Key Rate = 0.21
Excess Key Rate = 2
Price = 37.18 + (37.18 * 42% / 100) = 52.8

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) = 0.3307
FCF Yield = -0.009
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
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.2
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) = 9.92
β = 0.4313
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 9.92 + 0.4313 * 5.91 + 12.94 = 0.2541
WACC = (0 / 0) * (100% - 0) * (1 - 0.2) + 0.2541 + 0 = 0
Terminal Value = Discount (0.3307 * (1 + -0.009) / (0 - -0.009)) = 36.46
Company Value = ∑ (0.3307 / (1 + 0) ^ 5) = 1.68
Price = (Terminal Value + Company Value) / Count shares = (36.46 + 1.68) / 83000000 = 459.52