OTC_MOEX: ORUP - Обувь России

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 = -37.3
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.15 + (2.15 * 8.66% / 100) = 2.34

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) = 0.4145
Ebitda Yield = -1.65
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 = 1.59
Debt = 12.8
Market Cap = 1.88
Weight Debt = Market Cap / (Market Cap + Debt) = 1.88 / (1.88 + 12.8) = 0.1281
Weight Cost Debt = 100% - 0.1281 = 0.8719
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) = 3
β = 0.0227
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.0227 * 5.94 + 0 = 0.0313
WACC = (1.59 / 12.8) * (100% - 0.1281) * (1 - 0.21) + 0.0313 + 0.1281 = 9.8
Terminal Value = Discount (0.4145 * (1 + -1.65) / (9.8 - -1.65)) = -0.0963
Company Value = ∑ (0.4145 / (1 + 9.8) ^ 5) = 1.45
Price = (Terminal Value + Company Value) / Count shares = (-0.0963 + 1.45) / 113000000 = 11.98

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) = -0.000171
FCF Yield = -0.5476
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 = 1.59
Debt = 12.8
Market Cap = 1.88
Weight Debt = Market Cap / (Market Cap + Debt) = 1.88 / (1.88 + 12.8) = 0.1281
Weight Cost Debt = 100% - 0.1281 = 0.8719
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) = 3
β = 0.0227
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.0227 * 5.94 + 0 = 0.0313
WACC = (1.59 / 12.8) * (100% - 0.1281) * (1 - 0.21) + 0.0313 + 0.1281 = 9.8
Terminal Value = Discount (-0.000171 * (1 + -0.5476) / (9.8 - -0.5476)) = -7.5E-5
Company Value = ∑ (-0.000171 / (1 + 9.8) ^ 5) = -0.0062
Price = (Terminal Value + Company Value) / Count shares = (-7.5E-5 + -0.0062) / 113000000 = -0.0558