NASDAQ: AVNW - Aviat Networks, Inc.

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 = 0.8638
CAGR EPS = 105.62%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 24.85 + (24.85 * 105.62% / 100) = 51.09

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.0812
Ebitda Yield = 0.2349
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 = 0.0023
Debt = 0.0522
Market Cap = 0.3255
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3255 / (0.3255 + 0.0522) = 0.8618
Weight Cost Debt = 100% - 0.8618 = 0.1382
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 = -2.59
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.59 * 5.94 + 0 = -0.1237
WACC = (0.0023 / 0.0522) * (100% - 0.8618) * (1 - 0.21) + -0.1237 + 0.8618 = 3.4
Terminal Value = Discount (0.0812 * (1 + 0.2349) / (3.4 - 0.2349)) = 0.4221
Company Value = ∑ (0.0812 / (1 + 3.4) ^ 5) = 0.2484
Price = (Terminal Value + Company Value) / Count shares = (0.4221 + 0.2484) / 12460000 = 53.81

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) = 0.0521
FCF Yield = 0.1332
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 = 0.0023
Debt = 0.0522
Market Cap = 0.3255
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3255 / (0.3255 + 0.0522) = 0.8618
Weight Cost Debt = 100% - 0.8618 = 0.1382
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 = -2.59
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.59 * 5.94 + 0 = -0.1237
WACC = (0.0023 / 0.0522) * (100% - 0.8618) * (1 - 0.21) + -0.1237 + 0.8618 = 3.4
Terminal Value = Discount (0.0521 * (1 + 0.1332) / (3.4 - 0.1332)) = 0.5032
Company Value = ∑ (0.0521 / (1 + 3.4) ^ 5) = 0.1849
Price = (Terminal Value + Company Value) / Count shares = (0.5032 + 0.1849) / 12460000 = 55.23