NASDAQ: BATRK - The Liberty Braves Group

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 = -2.02
CAGR EPS = 9.91%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 38.07 + (38.07 * 9.91% / 100) = 41.84

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) = 0.0041
Ebitda Yield = -1.72
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 = 0.0377
Debt = 0.5699
Market Cap = 2.46
Weight Debt = Market Cap / (Market Cap + Debt) = 2.46 / (2.46 + 0.5699) = 0.8119
Weight Cost Debt = 100% - 0.8119 = 0.1881
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) = 2.89
β = -0.8332
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.8332 * 5.94 + 0 = -0.0206
WACC = (0.0377 / 0.5699) * (100% - 0.8119) * (1 - 0.21) + -0.0206 + 0.8119 = 5.16
Terminal Value = Discount (0.0041 * (1 + -1.72) / (5.16 - -1.72)) = -0.0013
Company Value = ∑ (0.0041 / (1 + 5.16) ^ 5) = 0.0096
Price = (Terminal Value + Company Value) / Count shares = (-0.0013 + 0.0096) / 61870000 = 0.1351

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) = -0.1378
FCF Yield = 0.1537
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 = 0.0377
Debt = 0.5699
Market Cap = 2.46
Weight Debt = Market Cap / (Market Cap + Debt) = 2.46 / (2.46 + 0.5699) = 0.8119
Weight Cost Debt = 100% - 0.8119 = 0.1881
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) = 2.89
β = -0.8332
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.8332 * 5.94 + 0 = -0.0206
WACC = (0.0377 / 0.5699) * (100% - 0.8119) * (1 - 0.21) + -0.0206 + 0.8119 = 5.16
Terminal Value = Discount (-0.1378 * (1 + 0.1537) / (5.16 - 0.1537)) = -1.21
Company Value = ∑ (-0.1378 / (1 + 5.16) ^ 5) = -0.4488
Price = (Terminal Value + Company Value) / Count shares = (-1.21 + -0.4488) / 61870000 = -26.83